- Huw Hughes
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AI-powered visual merchandising and outfit recommendation platform
Stylitics has closed a 15 million dollar Series B round of funding,
bringing its overall funding to 21 million dollars.
Money from the round, which was led by growth equity firm PeakSpan
Capital with participation from Trestle LP, will help the company “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.”
Founder and CEO of Stylitics Rohan Deuskar said in a statement: “More and
more people are purchasing products they have never touched or experienced
in the real world and retailers are challenged to create digital shopping
experiences that provide excitement, context, and inspiration.
“This round of funding validates the increased demand brands have for
more intelligent and high-performance visual content. 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.”
The New York-based company says customers using its outfitting and look-based programmes
see an average increase of 1.8x in conversion rates, a 23 percent increase
in units per transaction, and a 21 percent increase in average order value.
Brands using Stylitics’ programmes reportedly
gained more than 300 million dollars in increased revenue.
Over the past year, Stylitics has seen a 350 percent increase in revenue
and the addition of more than 30 of the top 1000 retailers to its roster of
brands including Ann Taylor, Calvin Klein, Chico’s, Gap, Macy’s, Under
Armour, and White House Black Market.
Photo courtesy of Stylitics
