Lolly Wolly Doodle, a Lexington, North Carolina-based social commerce apparel company, received a “significant” funding.
The amount was not disclosed.
The round was led by Revolution Growth, with participation from existing investors FirstMark Capital and High Line Venture Partners, as well as new investor Novel TMT Ventures. In conjunction with the funding, Revolution Growth co-founder Donn Davis will join Lolly Wolly Doodle’s board.
The company intends to use the funds to scale its operation, recruit additional executive people, broaden its product offering, and expand its market presence both online and offline. It plans to hire an additional 100 people in North Carolina in operations and manufacturing, and add to its technology and marketing team in New York City.
Founded in 2008 by Brandi Temple, Lolly Wolly Doodle is a social shopping company that designs, manufactures, and customizes products based on real-time feedback from customers, leveraging social platforms. The company operates a Facebook community of more than 580,000 fans and engaged customers.
FinSMEs
16/06/2013