Footwear and apparel data firm True Fit has secured $25 million in a Series B round of financing.
Investors in the Series B include Jump Capital, Signal Peak Ventures and Intel Capital. The latest round brings the aggregate raised to $40 million. The company said the investment will be used to expand and accelerate the growth of new products on its Genome platform for fashion retailers.
True Fit compiles fit, style and consumer preference data into its Genome, which helps retailers provide personalized fit ratings and size recommendations to shoppers. It also has a Discovery Engine, which helps retailers curate personalized collections to each consumer. True Insights, another platform, provides retailers and brands data insight on optimizing marketing, merchandising and product development.
Firms who are working with True Fit include Nordstrom, Macy’s, Hudson’s Bay, House of Fraser, Belk, Kate Spade, Guess, American Eagle Outfitters, Cole Haan, Brooks Brothers, Bluefly, Stuart Weitzman and Topshop.
True Fit said it has “organized and connected the unique relationships between millions of styles from 10,000 brands to the fit and style preferences of more than 100 million consumers.”
William R. Adler, chief executive officer of True Fit, said, “It’s an exhilarating time at the intersection of fashion and data science,” noting that the True Fit platform is unlocking digital growth in the footwear and apparel market for many leading retailers. He said the Series B round reflects the shared vision between investors and the company that “it should be just as simple to buy shoes and clothing digitally as it is to buy books, music, movies and consumer electronics.”
Joe Jensen, vice president and general manager, IOTG Retail Solutions Division at Intel Corp., said, “True Fit has aggregated an unrivaled set of structure data that already is delivering real value to retailers,” adding that True Fit’s vision for responsive retail and immersive experiences coincides with Intel’s focus on emerging categories. The Intel Capital investment was led by Sanjit Dang.
Michael McMahon, managing partner for Jump Capital, said the company’s platform is “changing the way retailers and brands improve the digital shopping experience for consumers.”