When people buy clothes online, many end up returning the items they purchased because they don't fit.
The team behind Bold Metrics Inc. has developed software they say can reduce returns and increase customer satisfaction. The San Francisco startup's service uses artificial intelligence to predict people's body measurements based on just a few data points, including their height and shoe size.
Retailers can incorporate Bold's software to help customers find clothes that fit, while apparel makers can use its data to design clothes that better fit prospective customers.
Daina Burnes, Bold's CEO and co-founder, was inspired to form the startup by her family's background as tailors, she said in a news release.
"We sought to develop a method to capture body measurements accurately without compromising adoption rates," Burnes said in the release. "We've achieved a ... solution that is easy for our clients and their customers to adopt and use."
Founded in 2017, the startup already works with retailers including Tailored Brands Inc., which owns Men's Wearhouse and Jos. A. Bank. After raising $8 million in a Series A deal it announced Thursday, Bold plans to expand its operations and further develop its technology.
Here's more on Bold's new round and other Series A funding news from this past week:
Terremoto Biosciences Inc., South San Francisco, $75 million: OrbiMed and Third Rock Ventures led the round for this developer of treatments for cancer and other diseases.
Circles Workshops Ltd., San Francisco, $16.5 million: Zeev Ventures led the round this provider of an online group therapy service. Uber Freight head Lior Ron, NFX, Flint Capital and Sir Ronald Cohen also invested.
Bold Metrics Inc., San Francisco, $8 million: Bessemer Venture Partners led the round for this developer of artificial intelligence-powered software that predicts body measurements for apparel retailers. Lytical Ventures, ValueStream Ventures and Nanban Ventures also invested.
