Sustainable Finance

Bold Metrics Secures $8M in Series A Funding, Charting a New Course Towards Sustainability for the Apparel Industry

Published on: 26 May 2022 12:00 PM
by KnowESG
clothes

Bold Metrics announces $8 million in Series A financing. New round is led by Bessemer Venture Partners, with participation from Lytical Ventures, ValueStream Ventures, and Nanban Ventures. Bold Metrics total funding brings company's total to $12.3 million.

Bold Metrics Inc. the AI-first SaaS solution helping companies unlock the power of body data, today announced $8 million in Series A financing.

Bold Metrics provides apparel brands and retailers with the most accurate AI Body Modeling technology to unlock the power of body data enabling data-led product design. Bold Metrics powers sizing intelligence solutions for ready-to-wear, on-demand and custom apparel both in-store and online so that consumers can efficiently connect their body data to products.

With an ever-growing arsenal of 45 million body models, the company continues to lead the market, adding more than 2 million new body models per quarter.

Despite being able to collect and measure numerous customer attributes, apparel brands ascertain sizing specifications in the near complete absence of customer body shape and measurement data, as that data has been historically not possible to collect in a scalable or meaningful way.

"With Bold Metrics' proprietary AI Body Modeling technology, we've achieved a scalable sizing solution that is easy for our clients and their customers to adopt and use, while simultaneously unlocking data-led insights to provide new tracks of retail intelligence throughout the organization." Unlocking access to consumer body data in the apparel industry is crucial, and Bold Metrics has been leading the way in its accuracy of results as well as innovation.

In addition to its core capabilities, Bold Metrics unveiled the world's-first Body Data NFT™ technology at this year's NRF2022, allowing it to work with Web3 native Ethereum wallets like Coinbase and Metamask to provide a streamlined experience for shoppers buying clothes online, in-store, or in the Metaverse, while readying apparel brands for Web3.

Source: PR Newswire

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