“AI-driven outfitting and styling platform” Stylitics bags $15m in funding
Stylitics has secured $15 million in series B funding which will help it expand its AI-powered outfit recommendation technology.
The fashion tech start-up’s funding round was led by PeakSpan Capital, and brings its total funding since launching in 2011 to $21 million.
It plans to use the proceeds to further develop its “AI-driven outfitting and styling” platform, already used by Calvin Klein, Gap, Under Armour, White House Black Market, LOFT and Banana Republic.
“The proceeds of this round enable Stylitics to grow its sales and marketing function while fueling the development of new types of shoppable, content-driven e-commerce and in-store experiences for brands, retailers and publishers,” the company said.
Working in partnership with online fashion retailers, Stylitics’ system suggests items in the brand’s existing range which would “complete the look”, which reportedly drives a 23 per cent rise in units per transaction.
“This round of funding validates the increased demand brands have for more intelligent and high-performance visual content,” Stylitics founder and chief executive Rohan Deuskar added.
“At a time when the retailer with the best visuals wins, we are offering a new category of content that is on-brand, dynamic, personalized, and outperforms the others with the value it creates.”