“We do it in parallel with their processing grief, which is super isolating,” Archer said. The intent is to bring the customer along the journey by sharing the process with them at each stage through videos and pictures. The process to create the diamond is intricate, according to Archer, taking 7 to 9 months. We’re about helping people move forward, and building a platform for the celebration of life.” “A lot of people are trying to solve planning and logistics around the end of life. “We view ourselves as the complete opposite tone of everything else in this space,” Archer said. Pets make up about 40% of Eterneva’s business. The entry price for an Eterneva diamond is $2,999 and that goes up based on the size and color. It can do colorless or nearly any color including black, yellow, blue, orange and green. Since inception, Eterneva has created nearly 1,500 diamonds for over 1,000 customers. Soon, she became “fully focused” on the idea, which she viewed as a way to give grieving people “brightness and healing and a beautiful way to honor their loved ones.” It was the first diamond ever created by Eterneva, and it gave Archer a chance to be a customer of her own product, which she believes has helped in building an experience for her other customers. “We received three term sheets and were able to put together an all-star investment group.” That investment group included Capstar Managing DIrector Kathryn Cavanaugh, who also joined Eterneva’s board Lydia Jett - one of the top female partners at Softbank overseeing their $100 billion Vision Fund and Kara Nortman, managing partner at Upfront Capital, one of the first women to make managing partner at a VC fund and co-founder of Angel City with actress Natalie Portman.Įterneva co-founders Garrett Ozar and Adelle Archer. “It was an extremely competitive round,” Archer told TechCrunch. (For the unacquainted, Tiger Management is the hedge fund and family office of Julian Robertson from which Tiger Global Management descended.) million Series A funding round led by Tiger Management with participation from Goodwater Capital, Capstar Ventures, NextCoast Ventures and Dallas billionaire Mark Cuban. And today, the company is announcing an “oversubscribed” $10. Since its inception, Eterneva has seen triple-digit growth in sales - including in 2020, when it more than doubled its revenue, according to CEO and co-founder Adelle Archer. It’s a highly unusual business but one that seems to be resonating with people seeking a way to keep a piece of their loved ones close to them after their death. The four-year-old startup creates diamonds from the cremated ashes or hair of people and pets. And those things are typically done with the help of a funeral home.Įnter Austin-based Eterneva, which is building a rare direct-to-consumer brand in the end-of life space. When it comes to memorializing someone after their death, most people think of planning funerals and/or picking out caskets or tombstones. The loss of a loved one is perhaps one of the most traumatic things a person can experience.
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