Eterneva Announces $1.2 Million in Funding, Key Investors Include Notley Ventures founder, Dan Graham, Spiritual Gangster founder, Ian Lopatin, and a former Ralph Lauren President, Eric Korman
Startup that celebrates remarkable people and pets by making diamonds from cremated ashes seeks to lead disruption of $20 Billion US death industry
Austin, TX, June 24th, 2019—Eterneva, an Austin startup that celebrates remarkable people and pets by turning their ashes into diamonds is announcing today that it has completed its first round of funding, raising $1.2 million.
Eterneva, which is on a mission to improve the way society responds to grief after loss, launched in Q4 2017 and grew 250% YOY. Eterneva raised the funding in 4 weeks, oversubscribing the round.
Investors for this round of funding include Eric Korman, the founder of luxury fragrance company Phlur, Ian Lopatin, the founder of Spiritual Gangster, Suhail Doshi, the founder of Mixpanel, Brett Hurt, the founder of Bazaarvoice, Dan Graham, the founder of Build-a-Sign and Notley Ventures, Brant Barton, the founder of Bazaarvoice and Chairman for 1% for the Planet, David Rubin, the founder of OjoLabs, Jessica Ewing the founder of Literati, AJ Bruno, the founder of TrendKite, Brian Cruver, the founder of AlertMedia, Manish Patel, the founder of Nutrabolt, and John Banczak, the founder of TurnKey Vacation Rentals.
Dan Graham, the founder of Build-a-Sign and Notley Ventures believes that Eterneva is part of a larger movement right now. “There’s a real B2C renaissance happening in Austin right now and Eterneva is a shining example of the remarkable consumer innovation we’re uncovering here. They’ve got the potential to be the Airbnb of the funeral industry; bringing a human-centric brand vision to an industry ripe for disruption,” said Graham.
Eterneva, which landed on the cover of Inc Magazine in 2018, is a disruptive brand to watch in the $14 billion US death industry.
Eterneva is disrupting a space that has seen little to no innovation in the last 100 years, and the startup seeks to change that, starting with its intricate 8-month journey of creating a diamond from cremated ashes that reflects the person behind it, including personalized videos in packaging and handwritten notes, to personalized video updates of the process.
“We’ve bootstrapped almost everything to date so this marks an inflection point, where we thoughtfully and intentionally took on funding, to accelerate our growth. We have a big vision for Eterneva — to give people better options to eternalize loved ones, ensure remarkable people aren’t forgotten and improve the way society responds to grief after a loss,” said Adelle Archer, co-founder of Eterneva. “Most importantly, we selected investors who believe in our mission, and see the need to change the conversation around death and remembrance.”
Since memorializing a loved one will be one of the most poignant chapters of a person’s life, Eterneva wants to make it a magical experience. To support Eterneva’s mission, the startup will invest in Experience Innovation--including the latest technologies and the resources needed to take a human-centric approach that customers will never forget.
Eterneva will launch new interactive Dedication Pages, grow its sales and marketing teams, and scale its offering of the highest quality lab-grown ashes to diamonds in the marketplace including opening one of the first US-based memorial diamond growth labs.
“This year, our scientific team will begin growing diamonds in Austin,” said Archer. “This will allow customers to more easily come to see the process first-hand, and perhaps even put their loved one's carbon in the machine themselves.”
“Eterneva is led by a very passionate and driven team and is focused on a very important cause of eternalizing our loved ones,” said Brett A. Hurt, founder of Bazaarvoice, Coremetrics, and data.world. “I lost both of my parents years ago and know firsthand how limited the options were to celebrate their life. It is an honor to be among their first investors in such great company and in such a beautiful, memorable product matched with incredible customer service.”
Eterneva believes the current options in the death industry are failing people and not allowing them the chance to remember lost loved ones properly.
“The death care industry is a massive, growing market with no soulful solutions. When you lose a really close connection - a parent, a sibling, a child…you want something special to remember them by. The death care industry is failing people - more specifically, an entirely new generation of consumers who want personalization and meaning in all aspects of life,” said Eterneva co-founder Garrett Ozar.
Eterneva celebrates remarkable people and pets by turning their ashes into diamonds. Eterneva has designed an intricate eight-month process to create these soulful remembrances, which is a journey that is as special as the diamond and the person behind it. Customers personalize diamonds’ size, color, cut, and inscriptions, so they serve as meaningful connections to the loved ones behind it. From interactive video packaging to hand-written letters, to a courier service that hand-delivers the diamond, customers experience a level of thoughtfulness they’ve never seen before. Eterneva is based in Austin, TX, and was recently featured on Inc's 30 under 30 list. To learn more visit www.eterneva.com.