FashionPlaytes, a Beverly, MA-based e-commerce company targeting tween consumers, has raised $5m in Series B funding.
Backers include new investors Leo Capital Holdings and Spindrift Equities and existing investors Fairhaven Capital, New Atlantic Ventures and Golden Seeds.
The company intends to use the funding to continue to enhance the engagement, social interaction and educational components of its FPGirl site.
Led by founder and CEO Sarah McIlroy, FashionPlaytes operates FPGirl, a web site that allows tweens to create, connect and participate in the creative process of designing their own clothes. They can design and purchase custom clothes based on their own individual preferences, interact with other fashion-forward tweens in a monitored forum, create a portfolio of designs they can share on the site or across other social network platforms, and learn from industry experts about the ins and outs of the fashion industry. Over the past six months, FPGirl.com has grown to 500,000 registered tween users that spend an average of an hour per visit on the site and have created more than 5,000,000 unique designs.
The company is currently hiring (http://www.fashionplaytes.com/contents/careers).