TryNow, a software platform designed to help consumers try items before they buy them, has scored $12m in its Series A round.
The investment was supported by Shine Capital, Craft Ventures, SciFi VC, Third Kind and Plaid co-founders Zachary Perret and William Hockey.
TryNow’s platform helps bring the dressing room to the living room, enabling consumers to check out for free, try items in their home and easily return unwanted items. The customer will only pay for what they want.
It claims that brands see a 63% increase in average order value, 22% increase in conversion rates and a 76% increase in return on ad spend.
TryNow founder and CEO Benjamin Davis said, “TryNow was founded on the simple premise that the biggest roadblock to profitable ecommerce growth is the inability to try before you buy. Only ~3% of online shoppers convert to purchase. Can you blame them? Could you imagine an in-person shopper having to swipe their credit card before taking items into a fitting room? It is completely unnatural, yet this is exactly what we are asking of online shoppers.
“Removing uncertainty before purchasing allows brands to unlock the power of in-store retail for consumers—all from the comfort of their own homes.”
In addition to the round close, the company named two new executives from Stitch Fix and Affirm as its new VP of growth strategy and VP of platform, respectively.
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