BeachMint, a start-up e-commerce operator, said it has raised $10 million to accelerate the growth and reach new markets. The investment is led by Trinity Ventures, with participation from Stanford University and existing investors, New Enterprise Associates and Anthem Ventures.
The Santa Monica, Calif.-based company operates the e-commerce site, JewelMint.com, an online jewelry club where customers who pay $29.99 per month receive a new jewelry item each month, plus style tips and personalized recommendations. BeachMint says the site, which launched in October, 2010, sells jewelry designed by actress Kate Bosworth and stylist Cher Coulter. My Space co-founder Josh Berman and entrepreneur Diego Berdakin established BeachMint.
This new round of funding will be used to bolster the staff from 20 to 40 and launch new verticals and celebrity partnerships in 2011, which BeachMint will announce in the first quarter.