Mejuri, a Canadian fine jewelry company, has recently raised a Can$5M ($3.8M) series A round led by Felix Capital. Several co-investors included Real Ventures, Incite Ventures, and Dash Ventures. With this raise, the total funding for the company grows to Can$6M. Managing Partner at Felix Capital describes the company as an ‘authentic consumer brand’.
Mejuri’s business model relies on product dripping – a slow release of new, limited-quantity products every week. This enables the brand to retain constant contact with the customer in order to build strong brand equity. This is a key characteristic to Mejuri’s success. Moreover, the company boasts a strong supply chain to afford constant customer-driven products at quick turnarounds, something that larger and traditional labels often find difficult to do.
Mejuri has grown 400% year-over-year since its incept and is expected to continue this trend with the recent capital raise. The firm’s main consumer-facing channel is through social media, directly in line with its millennial-focused business strategy. At the time of writing this post, Mejuri had 243k Instagram followers (@mejuri).
Some Cyndx Finder Comparables (Private Companies):
These comparable companies have been generated using Cyndx Finder, a tool for Private Equity firms, Venture Capital Firms, and Investment Banks to analyze the entire Private Company universe and identify the most relevant and appropriate opportunities for acquisitions or market analysis.
Susanne Siegel Designs is a designer jewelry company that focuses on providing one-of-a-kind pieces based on elegant designs and inspired by nature
Diamodère is an exclusive, traditional jewelers that specializes in both customized jewelry and fine jewelry for global audiences
Alison & Ivy creates one-of-a-kind personalized jewelry, driven by local artisans and crafted through precision technology
Sources used to verify and support the funding history and company statistics: