True Fit, the Boston-based startup that helps connect customers with shoes and apparel that fits them really, really well, recently announced a $25 million investment from Intel Capital that it will use to expand its business, according to a report from TechCrunch.
True Fit, which works with major retailers and brands, like Macy’s, Under Armour and Levi’s, uses an algorithm based on users’ purchasing history and self-reported information to help figure out why one shirt might fit them better than another or why they are more likely to keep one pair of shoes over another.
The startup is hoping the expansion will allow it to better capitalize on the exploding online apparel business and claims that retailers and brands who use it see less returns and a 5 percent lift in total revenue for their business.
“Right now is an amazing time for apparel and footwear retailers,” True Fit Cofounder Romney Evans said in a video posted on True Fit’s website. “It’s one of the largest consumer categories, totally underpenetrated. There’s nowhere to go but up.”
This is the second round of multi-million dollar funding for True Fit, which also received a $15 million investment back in Jan. 2015 that it used for expansion. At that time, TechCrunch reported that True Fit’s algorithm used data sources from more than 1,500 brands and that the service had surpassed 5 million registered users with profiles on the True Fit website.
“We help real people find clothes and shoes they’ll love and keep,” True Fit says on its website.