Metail raises 12 million dollars of further funding

Metail, known for its online fitting room technology, has raised a further 12 million dollars of funding, as it looks to launch a mobile platform. The London-based virtual fitting specialists has now received a total of 20 million dollars since it was founded in 2008, with

 the last round coming in 2013 to help them expand international, as well as develop technology to allow consumers to create 3D models of themselves, known as MeModel, to virtually try on fashion garments.

This round of funding will be used primarily to develop Metail’s mobile offering, which is scheduled for release early next year. In addition, the funds will be used to advance its user ecosystem, and accelerate the appointment of a number of new hires to expand the existing team of 40, across web development, product development, operations, marketing, research and development and data processing.

International expansion is also on the agenda, with the firm looking to expand its overseas presence, building on its existing operations in Singapore and partnerships across the globe including South America, Asia and Europe. This is an important area for the firm as three-quarters of Metail’s revenue came from outside of the UK last year, and this is expected to continue this year.

Metail Founder and CEO, Tom Adeyoola, said: “This new investment will give rise to some very exciting opportunities for Metail, enabling us to expand our global presence and develop our mobile offering. More importantly, this investment validates our vision to become the Google of sizing and shape.

“We’ve worked extremely hard to develop a product that delivers genuine sales growth for retailers and offers the consumer an unrivalled virtual fitting room experience, so this investment is testament to the magnificent progress that the team has worked so hard to achieve.”

Metail to launch mobile platform after securing further funding

The round’s lead investor is Tal apparel of the Tal Group, a Hong Kong-based garment manufacturer and the group’s chief technology officer Delman Lee joins the Metail board. Additional investment came from existing investor John Gleasure, commercial director of sports media specialist Perform Group, who also joins the board.

Tal Apparel’s Delman Lee added: “We are delighted by the opportunity to be part of the Metail story. Metail shares our values on data, R&D and sizing. We look forward to seeing the positive impact they will have on our industry and we look forward to helping them with the eventual move into men’s clothing.”

Metail technology was established by Cambridge graduate Adeyoola to increase consumer confidence in buying clothing online through an engaging product, which creates a three dimensional model to try on fashion. The company boasts an international client base, including Warehouse and House of Holland in the UK and SingTel in Singapore.

Images: Metail