Retail Convergence Takes $25 Million Series A

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smartbargains.jpgRetail Convergence has taken $25 million Series A in a round that includes New England Development, Breakaway Ventures, Mugar Enterprises and General Catalyst Partners. T

Boston, Massachusetts based Retail Convergence is a newly formed holding company for a number of ecommerce sites. Along with the funding announcement, Retail Convergence launched RueLaLa.com and announced the acquisition of SmartBargains.com

SmartBargains.com launched in 1999 and offers an “online, off-line retailer” service. The site tracks a respectable 1.5 million uniques a month according to comScore. The newly launched RueLaLa.com is an invitation-only, private sale ecommerce site driven exclusively by user-generated membership. The private sale model offers consumers exclusive access to scheduled sales of upscale brands. Each private sale is brand-specific, lasts 2 days and features current season merchandise.

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