paragon lakeIf you’re the stylish type and want to customize your clothing orders, there are lots of options for you on the web. Now it’s time to take that bring that approach to jewelry, says Matt Lauzon, founder and president of a company called Paragon Lake.

The Lexington, Mass. company has created a product it calls a “virtual display case,” an online service accessed by jewelry stores as they’re trying to make a sale, which allows customers to customize their jewelry and see exactly what they’ll be getting (rather than choosing Ring X with Gem Y and hoping that they’ll look good together). Salespeople narrow the search by choosing the type of jewelry and designer, then drill in on a specific product. Customers can then see a 3D model of that product, which changes as they customize it with different gems and metals. They can also email the model to themselves or to friends and family for more feedback.

Paragon Lake has been expanding the features in the virtual display case over the last few weeks, by adding a supply of diamonds and gems (previously, the jewelry stores had to provide the gems themselves) as well as men’s jewelry.

The company is looking beyond jewelry stores, too — Lauzon says he plans to launch a site where Paragon Lake can sell directly to consumers in early 2010. Here’s how he describes it:

The site’s design includes special attention to the actual buying experience from start to finish. The goal is to make the experience exciting, fun, collaborative and full of wow moments.  Features will include a way for the shopper to share/show the design that he/she created with others via an online jewelry box. Moreover, there will be independent consumer reviews and a meet the designer page for ultimate collaboration.

Paragon Lake has raised $5.8 million from Highland Capital Partners and Canaan Partners.