- True Fit – a global data and software leader retailers choose to decode fit and size – recently announced a $30 million growth round. These are the details.
As the $2 trillion apparel market shifted online rapidly since the pandemic, True Fit’s annual recurring revenue (ARR) grew 85%, and consumer adoption in parallel rose 109% across True Fit’s network – which now serves 82 million active members. True Fit’s growth in revenue, retailers, and active members point to the increasing demand among digital shoppers to seek trusted fit guidance.
True Fit is the only platform that solves online fit at scale, serving high-fidelity, trusted experiences for shoppers everywhere. And True Fit’s Fashion Genome is the world’s largest, connected data platform, fueling AI-driven models that combine product attribution for about 17,000 brands, $250 billion in cross-market buying behavior, and first-party preference data from over 200 million registered True Fit members. And the Fashion Genome underscores exceptional software and data services that brands and retailers use to personalize the buying experience online. This focus on customer experience across leading sites from PacSun to Under Armour to Boden translates to a 2-5% lift in revenue, driven by a +47% increase in order rate.
The additional $30 million of growth investment was led by True Fit lead investor Georgian, a multi-billion-dollar fintech company that invests in high-growth software businesses that leverage data in powerful ways. And Georgian was joined by Jump Capital, Signal Peak Ventures, Intel Capital, and new investor Espresso, a leading venture debt fund. This funding round will reinforce True Fit’s expansion while powering major innovations in customer experience and unrivaled data sets for 2022.
KEY QUOTES:
“We’re inspired by this moment. Consumers are in the midst of a generational shift to digital shopping. Apparel brands and retailers are rapidly partnering with True Fit to make their customer experience excellent. We’re thrilled to help unlock growth in apparel — the last huge consumer category to go digital.”
— William R. Adler, True Fit’s President & CEO
“True Fit is the leading provider in this exhilarating market thanks to its unique dataset and AI. We’re excited to be part of this generational shift to digital, and to help bring True Fit’s world-class solution to scale.”
— Justin LaFayette, Lead Investor at Georgian
