BriteCo Raises $2M

BriteCo , the jewelry and watch insurance company based out of Evanston, IL, has raised a $2m seed round led by Brian Spaly, the founder of Trunk Club, and Jeff Taylor, the former chairman and CEO at Cole Taylor Bank.

Founded in 2017 and led by Dustin Lemick, a third-generation jeweler, BriteCo provides a cloud-based Appraisal Management System for jewelers to create, track and manage appraisals saving time and effort. Once appraised, BriteCo sends an insurance quote directly to the customer via text or email to get immediate coverage underwritten by HDI Global.

BriteCo is targeting the fine jewelry and watch market, allowing companies to benefit from a new source of revenue while improving their in-store customer experience. In addition, the company claims that its Appraisal Management System (AMS) is faster and more accurate than the jewelry industry’s traditional manual processes.

“As a third-generation jeweler, my family and I have a long history in the business, but the jewelry buyer is changing rapidly. Millennials now represent the largest jewelry buying demographic, and their expectations are different from those of prior generations. BriteCo helps jewelers by providing them with the optimal blend of online convenience and personal attention.” – Founder and CEO of BriteCo, Dustin Lemick.