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FIRST FULLY CUSTOM JEWELRY COMPANY, WOVE, RAISES $3.85 MILLION IN VENTURE CAPITAL FUNDING TO OFFER NEWLY ENGAGED COUPLES STRESS-FREE ENGAGEMENT RING SHOPPING EXPERIENCE

High-quality wedding rings customized end-to-end by world-class designers are now available six times faster than traditional jewelry making

LANCASTER, Pa., November 21, 2022-- WOVE, the only online custom jewelry company that helps newly engaged couples build exact replicas before delivering high-end engagement rings, today announces the close of $3.85 Million in seed funding led by Springdale Ventures.

Other investors participating in this round include Outlander VC; Rarebreed Ventures; Context Ventures; VEIP, a veteran entrepreneur-focused investment vehicle launched by PenFed Foundation; West Point grads-founded WPMC; and Early Light Ventures.

WOVE was founded by two West Point classmates and former Army Rangers, Andrew Wolgemuth and Brian Elliott, after the duo initially helped their fellow service members stationed overseas design customized engagement rings. As they began receiving requests from U.S. domestic customers, who wanted the same personalized experience, Wolgemuth and Elliott discovered most people love the idea of an online engagement ring company that helps them skip the often intimidating and impersonal jewelry store experience, while receiving the benefit of being able to physically try the ring on at home.

"At Wove, we listen to our clients' preferences, and are launching unique features to serve them well beyond our custom at-home try-on experience," Brian Elliott, Co-Founder of WOVE, says. "We have successfully created a curated design process where we match couples with a world-class in-house jewelry designer, who specializes in their aesthetic, to co-design a customized ring made with high-quality diamonds and 100% sustainable materials."

"Engagement ring shopping is usually the first joint decision among many modern couples, and we believe it should be a celebratory experience. Although the ring is not a surprise, the proposal still is." says Co-Founder and CEO of WOVE, Andrew Wolgemuth, who grew up working in his family's brick-and-mortar jewelry store. "We are thrilled to partner with a group of world-class investors to accelerate our business to a whole new level, continuing to deliver the perfect ring for couples through an enjoyable, stress-free process."

Growth has been incredible for a company that has just launched less than a year ago: WOVE's revenue has successfully grown five-fold since its e-commerce platform went live in December 2021. For more information about WOVE, please visit our website, and social media accounts on Facebook, Instagram, Pinterest, and YouTube.

ABOUT

Launched by two West Point classmates and former Army Rangers, Andrew Wolgemuth and Brian Elliott, in 2021, WOVE helps newly engaged couples custom build their dream rings with the expertise of a world-class online jewelry designer. For the first time, customers can enjoy the most important moment of their lives risk- and stress-free by trying on an exact replica at home. Once it's perfect, they will receive the highest quality custom rings handcrafted by our master goldsmiths, and made with ethically sourced diamonds and 100% sustainable materials with full confidence.