Gemvara Raises $5.2M in Series B Financing

Gemvara Inc., a Lexington, MA-based Web shopping site for creating custom designer gemstone jewelry, has raised $5.2m in a Series B financing. 

The round was led by existing investors, Highland Capital Partners and Canaan Partners.

The company will use the capital to expand strategic marketing initiatives.

Originally founded in 2007 as Paragon Lake by entrepreneur Matt Lauzon, the company was rebranded in 2010 as Gemvara. The company’s online designer offers users a virtual model for customizing jewelry.

Gemvara had already raised $5.8m in a Series A financing In July 2008.