A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
Yourfit, which creates software to help online apparel shoppers determine the fit of clothing, has raised $2.3 million in funding from ELERDS Investments, Mark Ventures, Green Planet Venture Capital, Zlingshot, and other investors.
Yourfit, which creates software to help online apparel shoppers determine the fit of clothing they are interested in buying, has raised $2.3 million in funding from ELERDS Investments, Mark Ventures, Green Planet Venture Capital, Zlingshot, and other investors, the company announced. It says it will use the funds for the deployment and marketing of the company`s initial product, Yoursize, which it describes as an apparel-sizing engine.
Yoursize requires shoppers to enter their fit measurements and the retailer or clothing manufacturer to enter detailed information about each item’s fit. Like My Virtual Mode, another clothing-fit technology, Yourfit says shoppers will be able to use their profiles at a variety of retail sites.
"Despite the poor investment climate we have been able to raise significant funding,” said Harry Karatassos, chief executive officer. “We view this as strong confirmation of our business model and position as market leader. This capital will insure successful deployment of Yoursize later this summer with several leading apparel retailers."
Yourfit`s second offering, the Virtual Dressing Room, will allow consumers to see how clothes look and fit on a virtual model of themselves before they buy online.