LEXINGTON, Mass., May 10, 2011 /PRNewswire/ -- Gemvara, Inc., the online retailer of customer-designed fine jewelry, today announces the relocation of its corporate headquarters from Lexington, MA to downtown Boston. The company will start the move from its current space in Lexington to One Financial Center in early June. The move comes as Gemvara continues to expand on all areas of its business, including its goal to double the amount of employees by the end of the year.
Within the next year, Gemvara hopes to take advantage of Boston's growing technology and start-up scene and recruit an additional 40 to 60 employees; moving close to the city's Innovation District is a logical next step.
Gemvara recently closed a $15 million round of Series C funding led by Balderton Capital, which spurred Gemvara's need to move to an office that can support its rapid growth plans.
"Gemvara's move into Boston is a milestone that marks the growth of our company over the past year and a half since we launched," said Matt Lauzon, CEO and Founder. "We were attracted to the location's easy accessibility from around the city and the various commuter options, including direct routes to New York City from right across the street at South Station. The icing on the cake was the support we received from the City of Boston officials, which further confirmed our belief that Boston is arguably the world's most innovative city and the perfect place for us to build Gemvara."
The space encompasses 15,000 square feet and will house most of the Gemvarians, along with a new satellite office the company will open in New York City.
"Gemvara's strengths – design, business, entrepreneurship, and celebration – are Boston's strengths, and we are delighted to welcome them here. We are thrilled Gemvara will be a key part of our growing innovation economy," said Mayor Thomas M. Menino.
Gemvara is an online retailer of fine jewelry that offers a virtually unlimited selection of designs through its unique technology platform. 1,500+ original designs can be customized by the shopper - he/she can mix-and-match from 26 gemstones and 8 precious metals - resulting in millions of design possibilities for gemstone engagement rings, wedding bands, stackable rings, men's rings and more. Each piece is handcrafted in the U.S. using just-in-time manufacturing to produce every piece, made-to-order.
SOURCE Gemvara, Inc.