Boston-based True Fit Corp. has closed a $55 million Series C investment led by Georgian Partners. Existing investors Jump Capital, Signal Peak Ventures and Intel Capital, as well as new investor Cross Creek Capital, also were involved in the deal.
True Fit reports it will use the funding to further develop its artificial intelligence data platform; advance its personalized style, fit and analytics solutions; and expand its offerings with new capabilities. The company tripled its growth year-on-year in 2017, surpassed the 55 million mark for registered users and has a presence on the top 200 major global enterprise retail websites.
“The retail industry is experiencing an exciting and profound shift toward great, personal experiences, and rich, data-driven personalization is at the core driving the growth,” said William R. Adler, CEO, True Fit. “We’re thrilled to welcome Georgian Partners to our investor group and Board of Directors. The Georgian team is extraordinary, and their thesis for building the world’s best AI-driven data platforms makes this a very natural partnership.”