Jan 22, 2018
True Fit unveils new $55 million Series C investment
Jan 22, 2018
True Fit, a data-driven personalisation platform for apparel and footwear, has unveiled a new $55 million Series C investment, led by Georgian Partners with participation from existing investors Jump Capital, Signal Peak Ventures, Intel Capital, and new Cross Creek Capital. The new funding will develop True Fit’s AI data platform.
In addition, the new funding will advance innovation of its personalised style, fit, and analytics solutions. It will also expand the company’s offerings to include more robust open APIs, new AI-driven integrations, and new capabilities such as personal outfitting, chatbot virtual stylists, and enhanced visualisations.
The investment underscores the rapid growth of True Fit’s vast network of retailers and partners in North America, UK and EU markets, while expanding into new global markets including Asia and South America.
To help retailers and brands expand their growth even further, True Fit is also making its APIs available to the broad ecosystem of retail service providers. The company tracks consumer preferences and garment attributes, helping retailers to better personalise all touchpoints of the consumer journey from top-of-funnel search and display, to on site discovery and inspiration, as well as conversion confidence and return reduction, reengagement with personalised emails, retargeting, chat and voice applications, and new in-store experiences.
True Fit’s Series C financing comes at a time of hyper growth for the company. The company tripled its commercial growth in 2017, seeing its presence top 200 major global enterprise retail sites, while in parallel the network of registered users surpassed 55 million.
“The retail industry is experiencing an exciting and profound shift toward great, personal experiences, and rich, data-driven personalisation is at the core driving the growth,” said William R Adler, CEO, True Fit. “We are grateful to steward this special data collective on behalf of thousands of brands and the world’s leading retailers, while supporting them with the innovative tools required to successfully compete.”
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