3D scanning SaaS platform for retailers MTailor raises $1.8M in funding round via crowdfunding platform, Wefunder. With the participation of 1,555 investors, the company now boasts a $33M valuation cap with lead investors like Sebastian Gil, Y Combinator, and Khosla Ventures.
MTailor runs a successful e-commerce business selling custom clothing by measuring you with your phone’s camera. Their technology is 20% more accurate than a professional tailor. Now they’re combining their measurement technology with 3D visualization of clothing to end online clothing returns for retailers globally.
A company founded by fashion and AI entrepreneur, Miles Penn, a YC founder with a deep analytic/AI/big data background. Since launch, MTailor has fit more than 100,000 customers, creating the world’s largest commercially tested fit dataset. More importantly, we’re generating $5M+ annual revenue with this ‘trojan horse’ brand.
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With an annual revenue of $5M, the funds would be channeled more on robust augmented reality features, marketing, hiring, and variance cost, Product manager,