Change: offered +38% / raised +38% / placed 100%
True Fit re-opened and closed its unregistered equity offering after increasing the placement’s size from $10.59 million to $14.59 million. The offer closed after the company raised $4 million from two additional investors within four months. At closing, a total of twenty-five investors had subscribed to True Fit‘s offering. The company closed two unregistered private placements which raised an estimated $6.99 million.
True Fit markets and develops a scoring and recommendation engine for apparel retailers and brands. The big data company offers a software-as-a-service solution for retailers to personalize their catalog for each consumer, based on each person’s unique taste and fit. The company aggregates measurements, fabrics, and fit and offers shoppers to further refine their matching criteria to deliver pertinent recommendations.
The company, headquartered in Woburn MA, is led by William R Adler (President and CEO). True Fit elected to keep its revenues undisclosed.
The executive team includes Charles Baldavas, Jessica Arredondo Murphy, Joseph Romney Evans and Len Nannarone.
The board of directors includes Brandon Tidwell, Dennis Baldwin and Dorothy Mattison.
The company has raised an estimated total of $21.58 million via private unregistered security offerings.
Company: True Fit
Industry: Other Technology
Amount offered: $14.59 million
Amount placed: $14.59 million
First sale: 06-09-2014
Data as of: 10-28-2014