If the funding suits, maintain it. True Match, the Boston-based “personalisation platform for attire and footwear” that helps internet buyers discover garments that match and are to their liking, has raised $55 million in Sequence C funding. Main the spherical is Georgian Companions, with participation from Cross Creek Captial. Present backers Soar Capital, Sign Peak Ventures, and Intel Capital additionally adopted on.
Working with retailers and companions in North America, U.Okay. and E.U. markets, along with current expansions into Asia and South America, like a plethora of different startups within the area, True Match began out making an attempt to unravel the match downside: how to make sure garments you buy on-line will truly suit you regardless of not carry capable of attempt them on earlier than making a purchase order.
To do that, the corporate constructed out an information platform that basically matched the information of garments you’ve already bought with ones you might be contemplating shopping for. The promote to retailers was that elevated confidence that an merchandise will truly match can pull your buy over the road and scale back returns, which stay a pricey a part of on-line retail.
Nonetheless, as True Match’s CEO, William R. Adler, defined in a name late final week, the corporate has since expanded its providing to be a broader data-driven platform play that goes past match to go a lot deeper into providing personalised suggestions for attire and footwear.
The corporate’s tech pulls in 100 or extra knowledge factors from clothes ranges by main manufacturers and retailers after which employs machine studying/AI to assist shoppers browse objects which might be to their style — once more, primarily based on their ever-evolving buy historical past — as a method to encourage them to make additional purchases.
This suggestion engine is being supplied up by way of an API, which as we speak’s new funding can be used to additional develop, to assist retailers “higher personalise all touch-points of the patron journey”. This contains search, e mail advertising, retargeting, and in future chat and voice functions.
The identical True Match knowledge may also be used to supply wealthy analytics and insights to allow retailers and types to make smarter merchandising, advertising, and manufacturing choices, says Adler.
In the meantime, True Match says its Sequence C financing comes at a time of “hyper development” for the corporate, although it doesn’t get away very many particular numbers. It says registered customers, who’ve a True Match profile and whose buying choices are feeding its engine, has now surpassed 55 million.