True Fit announced a $30 million growth round. The additional growth investment was led by True Fit lead investor Georgian, a fintech company that invests in high-growth software businesses that leverage data. Georgian was joined by Jump Capital, Signal Peak Ventures, Intel Capital, and Espresso, a venture debt fund.
The funding will help with expansion and innovations in customer experience and data sets for 2022.
The funding comes as True Fit’s annual recurring revenue (ARR) grew 85 percent, said the company, and consumer adoption in parallel rose “109 percent across True Fit’s network,” which now serves “82 million active members.”
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.”
Justin LaFayette, lead investor at Georgian, noted, “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.”
