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Gemist Raises $6M in Funding to Scale Jewelry Tech Platform
The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
Gemist will use its new funding to continue scaling what it says will be the jewelry industry’s first full-stack SaaS platform.
Los Angeles—Jewelry technology startup Gemist announced that it has acquired funding to scale what it says will be the first full-stack SaaS (Software as a Service) platform for the jewelry industry.
The Los Angeles-based company, founded in 2021, partners with fine jewelry retailers to deliver fast, accurate, and scalable custom solutions for a better custom jewelry buying experience, it said.
With Gemist’s branded e-commerce tools, such as product visualization, 3D styling, and dynamic pricing tools, jewelers can provide customers with a modernized alternative to the traditional custom work processes widely used throughout the industry.
Gemist received $6 million in seed funding from Entrada Ventures, along with Artemis Fund and Collide Capital, that it will use to further build out its full stack jewelry tech platform, which will offer tools across dynamic pricing, advanced rendering, and e-commerce. It has raised $9 million to date.
The tech company said it drives 400 percent faster sales cycles and 300 percent increase in order value by giving jewelers what it calls “the world’s most advanced visualization and omnichannel commerce tools.”
Currently, users are designing more than 14,000 custom jewelry pieces through Gemist’s technology each week, the company noted.
“Gemist is bringing jewelry sales into the digital age,” said Julie Henley, partner at Entrada Ventures.
“Today’s consumers demand personalization, transparency, and beautiful digital experiences. Gemist delivers all three, empowering the jewelry industry to grow without adding operational complexity.”
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The Los Angeles-based company, founded in 2021, partners with fine jewelry retailers to deliver fast, accurate, and scalable custom solutions for a better custom jewelry buying experience, it said.
With Gemist’s branded e-commerce tools, such as product visualization, 3D styling, and dynamic pricing tools, jewelers can provide customers with a modernized alternative to the traditional custom work processes widely used throughout the industry.
Gemist received $6 million in seed funding from Entrada Ventures, along with Artemis Fund and Collide Capital, that it will use to further build out its full stack jewelry tech platform, which will offer tools across dynamic pricing, advanced rendering, and e-commerce. It has raised $9 million to date.
The tech company said it drives 400 percent faster sales cycles and 300 percent increase in order value by giving jewelers what it calls “the world’s most advanced visualization and omnichannel commerce tools.”
Currently, users are designing more than 14,000 custom jewelry pieces through Gemist’s technology each week, the company noted.
“Gemist is bringing jewelry sales into the digital age,” said Julie Henley, partner at Entrada Ventures.
“Today’s consumers demand personalization, transparency, and beautiful digital experiences. Gemist delivers all three, empowering the jewelry industry to grow without adding operational complexity.”
Despite being a $300 billion global industry, jewelry is one of the most technologically underserved categories in retail, and the need to modernize is imperative, according to Gemist.
Although many millennials want personalized options in their shopping experience, the majority of custom jewelry sales, especially engagement rings, often require several in-person meetings and custom CAD mockups.
The tech company claims that, due to the “outdated, time-intensive” manual processes currently used in custom work throughout the industry, it’s easier for consumers to customize a $50,000 car versus a $5,000 engagement ring.
Gemist’s fully customizable, white-labeled platform transforms how customers interact with fine jewelry, said the company.
Its proprietary visualization engine delivers photorealistic, 3D renders that reflect real-world specs and styling, offering the fast, visual, and deeply personal buying experience today’s customers expect, said Gemist.
“We’re solving the biggest pain point in the industry: how to confidently sell jewelry online,” said Madeline Fraser, CEO and founder of Gemist.
“For the first time, jewelry companies have a turnkey platform that lets them customize, visualize, and sell their products digitally, just like designing a car or customizing sneakers. We believe every jewelry company should empower their customers with tools to dream big, without friction.”
The platform integrates with any e-commerce tools jewelry companies already use, and it can be deployed across websites, tablets, and mobile to help brands close sales online and in-store, said Gemist.
“Gemist has truly helped us scale the custom side of our business. We’ve tried other tools, but nothing comes close to the realism and responsiveness of ‘The Customize Experience.’” said Michelle Berlinger, CEO of Berlinger Jewelry.
“It cut our design process from days to minutes, and helped customers confidently purchase high-ticket pieces without ever stepping into our showroom.”
To try Gemist and learn more about its technology, visit the Gemist website.
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