January 20, 2015
Fashion Metric recently announced that they have successfully closed a $1 million seed funding round led by Tahoma Ventures. Along with Tahoma Ventures, Fashion Metric welcomed investments from Corsa Ventures, Elementum Ventures, Geekdom Fund, and multiple angel investors in Los Angeles and Texas.
To date Fashion Metric has raised a total of $1.4 million featuring previous investments by both Mark Cuban and Techstars. However, the current bout of funding will be used to build the Austin, Texas based team while continuing the development of their product lineup.
“This round of funding will help us support the strong demand we are seeing from retailers and brands,” says Daina Linton, CEO.
The big data SaaS platform for apparel retailers and brands helps gather intelligence about customers so that the shopping experience both online and in-store might be personalized. That is, the Fashion Metric technology helps calculate a customer’s body measurements in seconds, opening the doors for them to find the best fit by answering a few easy questions.
“With no standardization for Off-The-Rack apparel sizing, there is massive confusion around clothing sizes at the consumer level that results in low conversion and high return rates,” says Linton. “Fashion Metric eliminates the ambiguity of the size chart while passing along valuable insights to retailers about their shoppers. Retailers can leverage continuous data analytics to enhance targeting and make better inventory management decisions.”
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