London-based jewelry startup Taylor & Hart raises $4.35 million to disrupt the process of shopping for fine jewelry online
Taylor & Hart, an e-commerce and jewelry startup that specializes in custom-made engagement rings, has closed $4.35 million (£3.6M) growth funding to fund global expansion. The round, which as led by consumer specialist investors Active Partners, will be used to continue its vision of disrupting the process of shopping for fine jewelry and launch a brand-new showroom in Mayfair London, in addition to New York and invest further in a marketing campaign
The round was also joined by new investor Paddy Byng (previously Managing Director at Asprey and Smythson), with participation on the round from existing investors Launchub Ventures. The latest funding is an evidence of investors’ trust in Taylor & Hart’s direction and testament to its successful growth. Active Partners are renowned for investing in customer-centric businesses; backing founder-led teams running brands that demonstrate exceptional levels of consumer engagement.
Since the previous funding round, Taylor & Hart’s business has more than doubled its monthly revenue, grown to a team of 40 across four countries, and now delivers to customers in over 20 countries. More significantly, to continue to ensure customers have the best jewelry experience possible, the design team has doubled and Taylor & Hart will soon announce the opening of a brand-new showroom. Additionally, the startup has partnered with technology enterprise Everledger to produce the first engagement ring in the UK that could be traced from mine-to-finger via blockchain.
Founded in 2o12 by Nikolay Piriankov, David Sutton and Shane Hunt, the London, England-based Taylor & Hart is on a mission to create and deliver engagement rings that allow people to truly express themselves in a way that captures the emotions they feel for each other. Its center diamonds are graded by the Gemological Institute of America (GIA) and we guarantee that all of our diamonds and gemstones are ethically sourced. Each ring is uniquely designed, hallmarked and hand-finished in London.
Following an award-winning marketing campaign in 2018 which saw the brand achieve ‘Marketing Campaign of the Year’ at the Retail Jeweller Awards, Taylor & Hart plans to invest further in enhancing brand awareness, and bringing its distinctive proposition to more customers.
Referencing the partnership with Active Partners, Taylor & Hart Founder & CEO Nikolay Piriankov states:
Commenting on the funding, Jason Mahendran from Active Partners added: “With Active Partners on board we now believe we have the external capital and expertise to complement our amazing team to succeed in growing the business and owning the ‘bespoke’ space in fine jewelry.”
“Taylor & Hart is a true challenger in a traditional category, with a unique and genuine focus on customer service and product quality which has impressed us. We look forward to working with Nikolay and the team on the evolution of the brand and its continued growth.”