MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
TechnologyJan 03, 2019
Pre-Owned Jewelry Website Seeks to Raise $10M
TrueFacet has secured $7.1 million from investors in its latest round of funding and wants $2.8 million more.
Jewelry and watch e-tailer TrueFacet expanded from online to off this holiday season, opening a boutique in Menlo Park, California, in conjunction with Stephen Silver Fine Jewelry.
New York—TrueFacet, an e-commerce site that sells both new and pre-owned jewelry and watches, has its sights set on another round of funding.
In a Dec. 26 filing with the Securities and Exchange Commission, the New York based-company indicated it recently raised $7.1 million from investors and is seeking to secure $2.8 million more, for a total of $9.9 million.
The e-commerce site has raised millions in the past several years, including $6 million in its startup round of funding led by Maveron LLC in September 2016, and has continued growing.
Launched in 2014 and then relaunched the following year after a complete redesign, TrueFacet started as a marketplace where consumers could buy and sell used jewelry.
From there, it has expanded into new jewelry and watches; added a brand-certified category, which encompasses used jewelry and watches supplied to the website directly by the companies that made them; and this fall, it started a service developing and managing e-commerce sites for brands looking to go direct to the public, with Messika as its first client.
Over the holiday season, TrueFacet took its online presence offline, opening a boutique selling pre-owned watches and jewelry in partnership with Stephen Silver Fine Jewelry, a Silicon Valley-area retailer, on Nov. 14.
Stephen Silver has stores in Redwood City, California, and at the high-end Rosewood Sand Hill Resort in Menlo Park. The Stephen Silver/TrueFacet store also is located at Rosewood, albeit in a separate space from the Stephen Silver store.
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