Georgian Partners leads development financing as True Fit’s Genome® Platform and information collective develop into the clever information layer for personalizing the world’s largest client vertical
BOSTON–(BUSINESS WIRE)–January 15, 2018–
True Fit, the retail trade’s data-driven personalization platform for attire and footwear as we speak introduced a brand new $55 million Series C funding, led by Georgian Partners with participation from current buyers Jump Capital, Signal Peak Ventures, Intel Capital, and new investor Cross Creek Capital.
This press launch options multimedia. View the total launch right here: http://www.businesswire.com/information/house/20180115005136/en/
True Fit’s new headquarters at 60 State Street, Boston, MA (Photo: Business Wire)
The new funding will additional develop True Fit’s sturdy AI information platform, in addition to advance innovation of its personalised type, match, and analytics options. It may even broaden the corporate’s choices to embrace extra sturdy open APIs, new AI-driven integrations, and new capabilities corresponding to private outfitting, chatbot digital stylists, and enhanced visualizations.
The funding underscores the fast development of True Fit’s huge community of shops and companions in North America, UK and EU markets, whereas increasing into new world markets together with Asia and South America.
To assist retailers and types broaden their development even additional, True Fit can also be making its APIs obtainable to the broad ecosystem of retail service suppliers. True Fit’s distinctive understanding of client preferences and garment attributes helps retailers to higher personalize all touchpoints of the patron journey from top-of-funnel search and show, to on web site discovery and inspiration, to conversion confidence and return discount, reengagement with personalised emails, retargeting, chat and voice functions, and new in-store experiences. Rich analytics and insights from True Fit assist retailers and types make smarter merchandising, advertising and marketing, and manufacturing choices.
True Fit’s Series C financing comes at a time of hyper development for the firm. The firm tripled its business development YoY in 2017, seeing its presence high 200 main world enterprise retail websites, whereas in parallel the community of registered customers surpassed 55 million.
“The retail trade is experiencing an thrilling and profound shift towards nice, private experiences, and wealthy, data-driven personalization is on the core driving the expansion,” mentioned William R. Adler, CEO, True Fit. “We are grateful to steward this particular information collective on behalf of hundreds of manufacturers and the world’s main retailers, whereas supporting them with the modern instruments required to efficiently compete.” Adler continued, “We’re thrilled to welcome Georgian Partners to our investor group and Board of Directors. The Georgian staff is extraordinary, and their thesis for constructing the world’s greatest AI-driven information platforms makes this a really pure partnership. This spherical and their management underscores and accelerates our imaginative and prescient to be the intelligence inside each footwear and attire purchasing expertise.”
“As a trusted associate for the attire trade, True Fit has developed a actually distinctive dataset,” mentioned Justin LaFayette, Managing Partner, Georgian Partners. “We’re very excited to be partnering with what’s a world-class staff to assist additional develop their utilized AI capabilities.”
For extra details about True Fit, go to: www.truefit.com.
About True Fit
True Fit is a data-driven personalization platform for footwear and attire retailers. True Fit hosts the trade’s most complete information collective within the almost $2 trillion world attire and footwear trade – the biggest client vertical – by connecting manufacturing design information from hundreds of main attire and footwear manufacturers, anonymized client order information from a whole bunch of high retailers, and private choice information from tens of hundreds of thousands of registered True Fit customers. Using superior AI expertise, True Fit maps the detailed type, match, and technical attributes from garments and sneakers to the detailed preferences of hundreds of thousands of particular person buyers. This permits retailers and types to supply customers with unparalleled personalization through software-as-a-service, together with private type rankings, match rankings, dimension suggestions, match particulars, and merchandising analytics. Follow us on LinkedIn, Facebook, YouTube, and @TrueFit on Twitter.
About Georgian Partners
Georgian Partners is a thesis-driven development fairness agency investing in SaaS-based enterprise software program corporations exploiting utilized synthetic intelligence, safety first and conversational enterprise. Founded by profitable entrepreneurs and expertise executives, Georgian Partners leverages our world software program experience to have the ability to straight affect the success of corporations. For extra data, go to www.georgianpartners.com.
Racepoint Global for True Fit
Amanda Nadile, 617-624-3244
This article sources data from VentureBeat