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eCommerce - Monday, July 7, 2008

Custom Jeweler Paragon Lake Raises $5.8M

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Lexington, MA's Paragon Lake has won $5.8M in Series A financing co-led by Highland Capital Partners and Canaan Partners.

The idea here is to deliver a Web-based tool whereby people can design custom made jewelry. Paragon has developed partnerships with jewelry merchants to get product out the door.

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The company was co-founded by a couple of recent Babson College grads - Matt Lauzon and Jason Reuben who won a Summer grant from Highland.

The idea might sound small, but given the costs and mark-up for jewelry they don't need too much success to have a decent sized business.

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