Since being founded by Babson College graduates in 2007, True Fit has been working to improve our online shopping experience by addressing the main deterrent to e-purchases. By gathering billions of data points on various products and leveraging machine-learning technology, the Woburn startup can use algorithms to predict what will flatter a customer’s body type, thus offering added assurance that a garment will fit.
Now, the company has added a $15 million growth equity round led by Signal Peak Ventures, Promus Ventures and Jump Capital, with participation from existing investors Guggenheim Partners, Breakaway Ventures and Novel TMT.
True Fit, which enables personalized style recommendations across more than 1,500 apparel and footwear brands, has also revealed more stats on its successes.
The service has been adding more than a half million new users per month, and the team is confident that True Fit is on target to exceed 15 million users in 2015. In fact, during the 2014 holiday season, True Fit accrued more than 1.2 million new users. The SaaS company is currently servicing over 75 million personal recommendations and more than 105 million page views per month, which represents a 500 percent increase from a year ago. CEO William R. Adler noted that the firm has “honed a proven formula,” which simultaneously delights consumers and drives growth for retailers.
"Consumers trust True Fit as the standard to help them confidently purchase apparel and footwear digitally," added True Fit Co-founder Romney Evans in a press release. "With that confidence comes discovery, and that’s where we’re helping to expand markets for our retail partners."
To support its recent surge in growth, True Fit also hired a number of executives in 2014, including CFO Chuck Badavas, formerly of Rakuten USA, as well as chief analytics officer Chris Moore, former MIT astrophysicist and data science leader from ProfitLogic.
Image of shopper on tablet via Shutterstock.
