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Fit specialist True Fit reports strong growth in 2014
24
Jan '15
True Fit, a retail SaaS company, which helps consumers find apparel and footwear styles that fit and flatter said, it reported a strong growth in 2014 and also received $15 million in equity funding.

In 2014, True Fit said it doubled the world’s largest collection of fit data, supporting personalised recommendations for millions of styles across more than 1,500 top apparel and footwear brands.

Jessica Murphy, True Fit co-founder said, “We’re pleased to be the trusted data platform for fit in the apparel and footwear and we are thrilled to successfully connect millions of consumers to new brands and styles.”

“Conversion rates for True Fit users are 3-6X higher than that of retailers’ and consumer adoption of True Fit’s service is soaring,” it stated.

According to the fit specialist, True Fit surpassed five million new users in 2014 and added over 1.2 million new users during the 2014 holiday season alone.

“Consumers trust True Fit as the standard to help them confidently purchase apparel and footwear digitally,” said True Fit Co-founder Romney Evans.

“With that confidence comes discovery, and that’s where we are helping to expand markets for our retail partners and we are on target to exceed 15 million users in 2015,” he added.

“True Fit demand has risen sharply, serving over 75 million personal recommendations and more than 105 million page views per month, a 500 per cent increase from a year ago,” it noted.

New bookings for True Fit’s ‘Discovery Engine’ with the world’s leading retailers have tripled, and True Fit’s longtime partners have expanded 3.5X during this period.

True Fit attributes the growing demand to a simple and unified user experience for both apparel and footwear, and to driving material growth for its retail partners in market.

Retailers operating with True Fit’s software see an average of 4.5 percent increase in net incremental revenue, driven by massive lifts in conversion to sale and significant declines in returns.

“We have honed a proven formula, which delights consumers and drives real growth for retailers and brands. It’s an exciting time as we help open up the $1 trillion apparel and footwear market,” said CEO, William Adler.

True Fit recently completed 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.

“We are thrilled to be backed by venture capitalists steeped in scaled success across SaaS, retail and fashion, and data analytics, both as operators and investors,” Adler added.

True Fit is the winner of 3 MITX Innovation Awards namely; Best Consumer Tech that Makes Life Easier, Best Analytics / Business Intelligence and Best UX; and was selected Best of Web by InStyle Magazine. (AR)

Fibre2fashion News Desk - India


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