NEWS & VIEWS

Global private equity and venture capital news and research

Conor Venture Partners backs $5m Fits.me Series A round

18 Apr 2013

clothes clothing shop retailConor Venture Partners was among investors in a £5m Series A funding round for virtual fitting room software maker Fits.me.

Existing investor SmartCap also joined the round alongside Fostergate Holdings and The Entrepreneur’s Fund, the UK-headquartered company said.

Fits.me has previously received just under £1.75m of seed and early-stage investment and £500,000 in grants.

Retailers among the company’s clients include Adidas, Hugo Boss and Nicole Farhi.

A statement from the business said it planned to use the new funding to support accelerated sales and marketing programmes, including international expansion into the France, Germany, other EU countries and the USA.

Conor Venture Partners’ Manu Mäkelä said, “While large swathes of retailing already takes place online, there are sectors for which the real online growth has yet to come.

“Apparel is chief among those sectors, primarily because buying clothes is such a subjective process – most obviously when it comes to ‘fit’.

“Fits.me has a sophisticated solution that works, delivers provable results, is easy for retailers to deploy and has been signed up by a growing band of respected retailers and brands, on an international basis.

“From an investor’s point of view, there is tremendous growth potential.”

Copyright © 2013 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014