Footwear Recommendation Technology Company SafeSize Raises €10M
New capital to be used to accelerate growth in new markets, onboard top talent and drive product innovation
SafeSize (safesize.com), the global leader in omnichannel footwear recommendation solutions, has raised €10M in a Series B round of funding. The new funding is provided by a consortium which includes existing investors 3TS Capital Partners and Convent Capital, as well as additional strategic investors. This funding round comes as a result of SafeSize’s recent successes and corresponding growth
SafeSize helps online and offline footwear retailers to better serve customers by finding perfect fitting shoes anytime, anywhere. Using 3D foot scanning, the world’s largest database of 3D scanned shoes, proprietary fitting algorithms and machine learning, SafeSize matches people with the perfect pair of shoes in terms of both fit and functionality. This way, SafeSize has unlocked digital growth and unmatched personalization in the footwear market for more than 2,000 leading retailers and shoe brands.
“’Business as usual’ is no longer an option for footwear retailers and brands. Consumers expect a seamless, personalized shopping experience across all channels. SafeSize enables footwear retailers and brands to engage online and offline with their consumers in a unique and personalized way. Our solution serves as the world’s best omnichannel sales assistant, combining deep shoe fitting expertise with tens of millions of shoe and foot data, processed using machine learning to constantly improve our recommendation algorithms. We’re thrilled about this new investment and about the continued support from our partners, who share our vision”, said Angelos Stavrakis, CEO, SafeSize.
SafeSize will use the new funds to continue to scale up and strengthen its leadership in the virtual fitting recommendation space by attracting new talent, accelerating product innovation and entering new markets.
“The SafeSize team has used the funding raised since 2012 towards creating a solution that bridges the gap between physical and online markets. The result is a powerful tool for retailers, which was the basis for SafeSize’s triple digit growth in 2018. The concept has now been proven, with a working solution and satisfied consumers. Now it is a matter of building on this foundation and scaling further”, said Maarten Meijnen, Founder, Convent Capital.
“SafeSize enables footwear retailers and brands to succeed in a changing retail landscape, by driving increased customer engagement and other revenue streams”, said Elbruz Yılmaz, Investment Director of 3TS Capital Partners. “We believe with this funding round, Safesize will be equipped to scale further globally and we ‘re excited to support SafeSize in continuing its leadership as the global footwear recommendation platform for retailers.”
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