Austin Firm Secures Funding After 'Shark Tank' Appearance

AUSTIN, TX — Eterneva, an Austin-based company making memorial diamonds from ashes of clients' loved ones, was awarded an investment valued at $600,000 after appearing on the television show “Shark Tank.”

Company officials appeared on the ABC reality show on Sunday night, pitching their business model to a panel of judges doubling as investors. Businessman Mark Cuban, one of those judges, agreed to provide seed money to help the local business expand, company officials announced on Monday. The deal terms were $600,000 at an $8M valuation with 2 percent from founders and 1 percent advisory shares, company officials said.

The 14-worker company specializes in immortalizing deceased loved ones (including pets), enabling clients to carry the unique keepsake after the urn ashes are transformed into diamonds in a laboratory. At the end of Sunday's episode, co-founder Adelle Archer said, “Now that Mark is a part of the team, the sky is the absolute limit.”

Related story: Austin-Based Memorial Diamond Maker On 'Shark Tank'

Adelle Archer and Garrett Ozar make their pitch for 'Shark Tank' funding. Photo courtesy of ABC.

Videos and images on the Eterneva website showcase the company's myriad unique products, featuring diamonds in various settings as a way of helping customers celebrate the lives of deceased loved ones. Eterneva is able to display these high-quality, high-performance visuals with Cloudinary, the market leader in providing a comprehensive cloud-based image and video management platform. With Cloudinary, Eterneva can win customer mindshare and wallet share by delivering optimal images, videos, and rich media that consistently tells the company’s full story, company officials explained.

Courtesy image.