Perfitly, a virtual reality/augmented reality (VR/AR) and AI powered virtual fitting room solution that is being integrated into the e-commerce platforms of the nation’s leading retailers, announced the close of a $725K equity round through SeedInvest, a leading crowdfunding platform.
Perfitly’s solutions reduce returns and increase sales, with substantial financial and sustainability improvements, for online apparel brands and retailers. It allows online shoppers to visualize garments on their accurate digital body double which creates more confident purchases and size selection, avoiding abandoned carts and unnecessary purchases of multiple sizes that ultimately become returns. The funding will be used to onboard and serve clients in its pipeline, which includes several top-10 retailers, accelerate its product roadmap, and continue building its team and operations, especially in sales and marketing.
“The retail industry is just scratching the surface of VR/AR solutions and their practicality in business,” said Dave Sharma, Co-Founder and CEO of Perfitly. “Our virtual fitting room platform significantly helps to maximize profitability for companies by cutting down returns and increasing conversion, while minimizing wasted transportation costs and excess inventory - all of which enhances sustainability goals. Utilizing available tech and planning for a future that simultaneously increases profitability and sustainability is the new standard and business model that we are implementing everyday.”
Using Perfitly’s VR/AR solutions, garments are e-stitched to create a 3D replica, including all fabric properties - density, weight, stiffness, stretch, friction, and more. Once shoppers click Perfitly’s ‘Try it on’ button which is embedded on a retailer’s product display page, they’re able to see and interact with their personalized avatar wearing the Perfitly recommended size. From here, users are able to size up and down, zoom, and rotate their avatar in order to find their perfect fit.
SeedInvest is a leading and exclusive crowdfunding platform with less than 1% acceptance rate. This equity round builds upon Perfitly’s earlier selection as “Winner - 2020 Most Fundable Companies” Award at the Pepperdine Graziadio University competition with more than 4,500 applicants.
When discussing future plans, Sharma added “We hope to execute our plan of reaching approximately 200 client retailers of varying sizes by 2024 and becoming the leading data & analytics provider to the industry. Of course, a tech company is never done with enhancing and optimizing its technology as new opportunities open and underlying tools improve. So far, we still have a wide lead in technology and hope to keep increasing it.”
Perfitly is a virtual reality and augmented reality (VR/AR) and AI powered virtual fitting room solution that is being integrated into the e-commerce platforms of the nation’s leading retailers. Perfitly’s cutting-edge size recommendation and visualization platform serves fashion brands and works to help increase conversion and reduce returns, while enhancing sustainability. Perfitly enables shoppers to try on clothes, find their perfect fit and look, and purchase with confidence - all from the comfort of their homes. To learn more, please visit: https://www.perfitly.com/.
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