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SmartBargains raises $7 million

SmartBargains announced Tuesday that it raised $7 million in a recent round of funding. New England Development and Gordon Brothers led the round, with contributions from Highland Capital Partners, General Catalyst, Berkshire Partners, Dorset Capital and AOL Time Warner Ventures. All of the companies except New England Development also participated in the company's $33 million first round in October 2000. SmartBargains, based in Boston, runs a discount retail Web site for consumers.

SmartBargains announced Tuesday that it raised $7 million in a recent round of funding. New England Development and Gordon Brothers led the round, with contributions from Highland Capital Partners, General Catalyst, Berkshire Partners, Dorset Capital and AOL Time Warner Ventures. All of the companies except New England Development also participated in the company's $33 million first round in October 2000. SmartBargains, based in Boston, runs a discount retail Web site for consumers.