StyleScan, a virtual dressing technology developer, has announced it has closed an additional one million dollars in funding, bringing its total seed-round capital to three million dollars.
In a release, the company, which was founded back in 2018, said the new funding will help it further accelerate the expansion of its e-commerce ‘software as a service’ (SaaS) solutions, including aiding in the launch of new artificial intelligence (AI) products in the coming months.
Its most recent plugin, ModelSwitch, allows shoppers to preview garments on models with a wide range of body shapes, sizes and skin tones, in a bid to make fashion more relatable for consumers.
To build on its growth, StyleScan has also appointed Galina Sobolev as its chief marketing officer. Sobolev, who brings with her a wealth of experience, launched contemporary women’s brand Single, which is currently undergoing product expansions.
StyleScan already counts a number of luxury fashion companies and apparel firms as its clients, with its founder and CEO Larissa Posner stating that in the Q2 of 2022 the company began “generating monthly recurring revenue”.
“With everything going increasingly digital, including fashion, online retailers need to up their game and improve the customer experience,” Posner said.
She continued: “StyleScan’s value proposition for the brands employing our tech is straightforward. When shoppers can visualise their purchases on models who resemble them, they’re twice as likely to buy and 30 percent less likely to return what they bought. Put simply, we help our brand-partners enhance profits by making their online consumers more satisfied.”