Flash sales, sneak previews, targeted ads.
Online shopping has never been more immersive than it is in 2018, but it can still be challenging to find the right size — until Boston-based True Fit launched, that is.
The startup, which offers a data-driven customization platform, helps retailers guide consumers to perfectly-fitted clothing and footwear through a blend of custom algorithms and analyzing what shoppers already have in their closets. And with a fresh $55 million in funding secured today, the retail tech startup is expected to continue delivering on its promise.
“The retail industry is experiencing an exciting and profound shift toward great, personal experiences, and rich, data-driven personalization is at the core driving the growth,” said William R. Adler, CEO of True Fit in a statement.
Led by Georgian Partners, the Series C round will be used to further develop True Fit’s AI data platform, as well as advance innovation of its personalized style, fit and analytics solutions.
The financing will also expand the company’s offerings to include additional open APIs, new AI-driven integrations, and new capabilities including personal outfitting, chatbot virtual stylists and enhanced visualizations.
True Fit received the funding after a year of impressive returns.
The company tripled its growth in 2017, with more than 200 retail sites turning to the startup for its data-driven customization platform.
True Fit also expanded its network of retailers and partners in North America and European Union markets, while touching down in new global markets including Asia and South America. To date, the startup has more than 55 million registered users on its platform.
“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,” Adler said.
True Fit currently employs 90 in Boston, 110 globally, and plans on hiring 45 employees this year, bringing its headcount to 155 by the end of 2018. Currently, it has many open positions across the business including roles in engineering, product management and data science.
Existing investors Jump Capital, Signal Peak Ventures, Intel Capital and new investor Cross Creek Capital also participated in the round.
