True Fit raises $30 million as revenue grows 85%
True Fit, the data-driven personalisation platform for footwear and clothing, has announced a $30 million growth round today. The platform also revealed annual recurring revenue grew 85%, and consumer adoption in parallel rose 109% across True Fit's network.
True Fit's Fashion Genome is the world's largest connected data platform, fuelling AI-driven models that combine product attribution for 17,000 brands, $250 billion in cross market buying behaviour, and first party preference data from over 200 million registered True Fit members.
The company's focus on customer experience across leading sites including Under Armour and Boden has translated to a 2-5% lift in revenue, driven by a +47% increase in order rate.
William R. Adler, True Fit's President & CEO, commented: "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."
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. The funding will aid True Fit's expansion and future innovations in customer experiences.
Justin LaFayette, Lead Investor at Georgian, added: "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."