True Fit Adoption Surges: Five Million Users and Accelerating; $15 Million Venture Capital Secured to Fuel Growth

WOBURN, Mass.–(BUSINESS WIRE)–True

Fit, the fitness gear door gym leading retail SaaS company helping consumers discover

apparel and footwear styles that fit and flatter, today announced strong

growth in 2014 and a $15 million growth equity round.

In 2014, True Fit doubled the world’s largest collection of fit data,

supporting personalized 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 industry, and we’re thrilled to

successfully connect millions of consumers to new brands and styles at

their favorite retailers.”

Harnessing data with a simple user experience has translated into

increased consumer confidence. Conversion rates for True Fit users are

3-6X higher than that of retailers’, and consumer adoption of True Fit’s

service is soaring. True Fit surpassed five million new users in 2014

and added over 1.2 million new users during the 2014 holiday season

alone. It is also now adding more than a half million new users per

month, a 4X increase year over year. “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’re helping to expand markets for

our retail partners. We’re on target to exceed 15 million users in 2015.”

True Fit demand has risen sharply, serving over 75 million personal

recommendations and more than 105 million page views per month, a 500

percent increase from a year ago. New bookings for True Fit’s Discovery

Engine(TM) 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’ve 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 with our partners. We’re

also pleased to expand our top-notch team to meet the growing demand,”

said William R. Adler, CEO.

True Fit announced several key executive hires to support scaled growth,

including: Chuck Badavas, chief financial officer, former CFO of Rakuten

USA; Chris Moore, chief analytics officer, former MIT astrophysicist and

data science leader from ProfitLogic (acquired by Oracle), the Broad

Institute (MIT/Harvard collaboration), TransForm (acquired by JJ), and

most recently venture-backed CargoMetrics; and Vince Beese, chief

revenue officer, former CRO of CheetahMail, the number one email service

provider for retailers, and Live Person, the number one live chat for

retailers.

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,” said William R.

Adler, CEO.

About True Fit

True

Fit is a retail SaaS company. Its Discovery Engine(TM) helps consumers

find brands and new styles that fit and flatter. The company provides

personalized recommendations powered by fit data from millions of

consumers and a network of more than 1,500 brands and leading retailers.

True Fit also provides rich insights to partnering retailers and brands,

which leverage these insights to inform marketing, merchandising and

product development decisions. True Fit is the winner of 3 MITX

Innovation Awards: Best Consumer Tech that Makes Life Easier, Best

Analytics / Business Intelligence and Best UX; and was selected Best of

Web by InStyle Magazine. Consumer Reports named True Fit its favorite

fit technology. For more information about True Fit, follow us on LinkedIn,

Facebook,

YouTube

and @TrueFit

on Twitter.

http://www.businesswire.com/news/home/20150113005845/en/True-Fit-Adoption-Surges-Million-Users-Accelerating

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