Fashion Metric, a company that acts as a virtual tailor online, closed on its $1 million seed round.
Tahoma Ventures in Boulder led the round with participation from Corsa Ventures in Austin, Elementum Ventures in Menlo Park, Geekdom Fund in San Antonio and multiple angel investors.
So far, the company has raised a total of $1.4 million featuring previous investments from Mark Cuban and Techstars.
Fashion Metric, founded in Los Angeles, moved to Austin last year to participate in the Techstars Austin program. Following the conclusion of the program, the founders decided to stay in Austin.
Fashion Metric plans to use its funding to hire additional employees and to continue to develop its products. Daina Linton is CEO and co-founder and her husband, Morgan Linton, is also a co-founder.
Fashion Metric has created software that helps online shoppers find clothes that fit by calculating their detailed body measurements. Fashion Metric simply asks a few questions and then their software processes the information through its proprietary algorithm and comes up with specially tailored information about the correct size and fit.
“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,” according to the company. “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.”