Pley, a Santa Clara-based LEGO® subscription service, secured $10m in Series B funding.
The round was led by Sozo Ventures, with participation from existing investors Floodgate, Correlation Ventures, Maven Ventures, and Allegro Venture Partners. In conjunction with the funding, Phil Wickham, Managing Director of Sozo Ventures.
The company, which has raised $16.75m to date, intends to use the funds to expand into Europe and Asia and its U.S. customer base.
Led by Ranan Lachman, CEO, Pley is a socially-responsible LEGO rental company. It has just unveiled PleyWorld, a free online platform that enables LEGO fans of all ages to create their own LEGO sets. Photos of original designs are uploaded to the site and once a design receives 5,000 votes, Pley will use its patented LEGO-assembly machinery to create sets based on that design and make it available for rental to Pley subscribers in a couple weeks.
To date, more than 50,000 families have purchased Pley subscriptions and more than 350,000 packages have been shipped from its Santa Clara warehouse where each LEGO set is inspected, cleaned and sanitized between shipments.