Coolspotters‘ parent company Fanzter has raised $2 million in a second round of funding to improve the celebrity-fuelled fashion site and growing its database of users.

The user-generated website helps users find fashion, accessories and other items celebrities are using. The website lets unique visitors casually browse pictures and other content while more avid users can create profiles that include their favorite celebrities and products. Users can look through the database of paparazzi photos, fashion shoot photos and on screen fashion worn by celebrities. Users can add these items and brands to their profile pages so others can see what fashions they like.

Coolspotters helps users find the products featured on the website in stores or with online retailers. For example, once the user clicks on an image such as a celebrity with a handbag, the website brings up a list of online stores and retailers that sell handbags. The website’s functional design has allowed Coolspotters to sell effective contextual advertising. This ability to sell advertising is encouraging to investors and is what likely led the successful drive for additional funding.

Coolspotter has been online since May 2008. It is still running the beta version of the website but users can look forward to a more complete product being developed with this additional funding.