Social gaming start-up Fantasy Shopper has secured a $3.3m (£2.1m) investment from Accel Partners and NEA.
The online business – which launched its beta site in October 2011 – will use the funding to develop its technology and other resources, and expand into new markets.
The investment concludes a remarkable first three months for Fantasy Shopper, after it became the first non-US business to win Amazon Web Services’ Global Startup Challenge (within a month of launch) and achieved month-on-month increases in its user base of 200%.
Founded by Chris Prescott and Daniel Noz at University of Exeter’s Innovation Centre, the social game allows online shoppers to create a virtual wardrobe, which they can share via their social networks, to compete for trendsetter status.
The start-up has impressed industry experts with its use of virtual representations of fashion items available in physical retail stores – allowing gamers to purchase items from their virtual wardrobes at the touch of a button. Retailers can also use the game’s data on users’ tastes to plan deals and discounts.
Sonali de Rycker, partner at Accel Partners, said of the investment: “We are convinced that the next big company will be one that elegantly combines online engagement with offline discovery, and Fantasy Shopper has created the most compelling experience we’ve seen in this space.
“We’re very excited to back an ambitious team with an inspiring vision and we’ve seen great momentum and engagement with the product so far.”
Chris Prescott, co-founder of Fantasy Shopper, added: “Our early community loves the product and our engagement and retention metrics are growing exponentially.
“This funding from Accel and NEA provides the support and resources to take the product, business and community to the next level.”
Last month, Fantasy Shopper was named as one of
Startups.co.uk's Top 20 start-ups of 2011