[Techtaffy Newsdesk]
Polyvore has received $14 million in Series C financing, led by DAG Ventures and with participation from new investors Goldman Sachs and Vivi Nevo (NV Investments). Early Polyvore investors Benchmark Capital and Matrix Partners also participated in this new funding round.
With this new funding available for technology innovation, Co-Founder and CEO Pasha Sadri will now focus on product strategy and engineering full-time as Chief Technology Officer, with Co-Founder and Vice President of Product Jess Lee becoming Chief Executive Officer.
Polyvore is known for fashion “sets” – digital collages that users create by combining their favorite products from across the Web – and now has more than 13 million unique monthly visitors, an 80 per cent increase over last year, says the company. The Polyvore user community creates on average one Polyvore set every two seconds, a total of 1.4 million sets per month.