True Fit, a Boston, MA-based retail industry’s data-driven personalization platform for apparel and footwear, raised $55m in Series C funding.
The round was led by Georgian Partners with participation from existing investors Jump Capital, Signal Peak Ventures, Intel Capital, and new investor Cross Creek Capital.
The company intends to use the funds to further develop its AI data platform, to advance innovation of its personalized style, fit, and analytics solutions, to expand its offerings to include open APIs, new AI-driven integrations, and new capabilities such as personal outfitting, chatbot virtual stylists, and enhanced visualizations.
Led by William R. Adler, CEO, True Fit provides a data-driven personalization platform for footwear and apparel retailers.
The platform hosts a comprehensive data collective in the nearly $2 trillion global apparel and footwear industry by connecting manufacturing design data from thousands of apparel and footwear brands, anonymized consumer order data from hundreds of top retailers, and personal preference data from tens of millions of registered True Fit users.
Using advanced AI technology, it maps the detailed style, fit, and technical attributes from clothes and shoes to the detailed preferences of millions of individual shoppers. This allows retailers and brands to provide consumers with personalization via software-as-a-service, including personal style rankings, fit ratings, size recommendations, fit details, and merchandising analytics.
To allow retailers and brands to expand their growth, the company is also making its APIs available to the broad ecosystem of retail service providers.
TrueFit has European headquarters in London.
FinSMEs
15/01/2018