True Fit raises $55M to personalize clothes shopping with AI
Buying clothes online can be tricky since you can’t try them on before you order them, and because actual sizes can vary between brands and styles, it is nearly impossible to predict how something will actually look and feel in person.
Boston startup True Fit Corp. says its data platform solves this problem with an artificial intelligence that offers consumers personalized fit and styling recommendations, and today the company announced that it has raised $55 million in a Series C funding to make its AI even smarter.
The funding round was round led by Georgian Partners, with participation from existing investors Jump Capital, Signal Peak Ventures and Intel Capital, as well as new investor Cross Creek Capital. Combined with its previous funding rounds, True Fit has raised a total of more than $112 million.
Founded in 2010, True Fit provides a data platform for fashion retailers called Genome, which the startup said is “the largest set of connected fit and style data in the world.” Genome tracks more than 600 million fashion attributes on millions of products, and it stores anonymized data on $6 billion in sales and returns records.
True Fit helps retailers leverage this data with two AI-powered services: Confidence Engine, which tells consumers how an item will actually fit them based on their personal sizing information, and Discovery Engine, which offers fashion recommendations based on a user’s previous orders.
Retailers can integrate Genome into their own mobile apps and in-store tools with the True OMNI platform, and they can access detailed analytics on consumer behavior with True Insight. True Fit announced today that it’s also making its APIs available to retail service providers, which will allow businesses to build their own tools to take advantage of Genome.
The startup plans to direct some of its new funding toward developing more robust APIs for its platform, and it will invest in further development of its AI and its personalized style, fit and analytics solutions. True Fit also wants to expand its network of retailers and partners to new global markets such as Asia and South America.
“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,” True Fit Chief Executive William R. Adler said in a statement.
Photo: True Fit Boston Headquarters/True Fit
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