R2Net, which owns JamesAllen.com, the fastest growing online diamond retailer, obtained a $140M growth equity investment from Francisco Partners to further accelerate the company’s rapid expansion, the company announced in a press release. “Anyone who has ever bought a diamond or an engagement ring appreciates how intimidating the process can be for the consumer,” said Matt Spetzler, Partner at Francisco Partners. “What we love about JamesAllen.com is they are using innovative technology to bring simplicity, vast selection, pricing transparency and overall value to the process by letting consumers shop directly for the exact diamond they want, but at a much lower price.”
JamesAllen.com has tripled in size in the last two years as consumers have embraced James Allen’s 360° Diamond Display Technology and innovative virtual showroom experience. With a curated selection of nearly 150,000 conflict-free, fully certified loose diamonds and hundreds of ring settings, JamesAllen.com allows consumers to design or customize their own personalized jewelry pieces. The investment from Francisco Partners underscores the success the company has achieved as well as confidence in the company’s ability to drive further disruption of the traditionally brick and mortar industry by offering better selection and value.
R2Net (conceived as "Rough Diamonds to Internet") operates a robust e-commerce and supply chain platform that connects the entire span of the diamond industry’s ecosystem, including manufacturers, retailers and consumers. R2Net owns and operates four distinct brands: JamesAllen.com, Segoma, DMarket (Diamond Market) and Brio Animation Studio. Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised over $10 billion in capital and invested in over 175 technology companies, making it one of the most active investors in the industry.