Perfitly, LLC

Perfitly was created to solve a $35 billion problem.

It’s a software-as-a-service (SaaS) solution for the apparel sector of the e-commerce industry. Using technologies including Augmented Reality, Virtual Reality, and Artificial Intelligence, this solution transforms the online shopping experience — providing shoppers with lifelike, high-tech visualization of how clothes look and fit.

In doing so, Perfitly reduces returns and increases sales.

This is a timely solution. Online apparel sales reached $95 billion in the U.S. last year. And in the midst of Covid-19, online shopping has exploded, and become the “new normal” for many consumers.

Perfitly’s software was created by a team with extensive technology and fashion experience. Product developer Michel Zampa has conceived and commercialized tools used in fashion-related e-commerce platforms. And he’s worked with brands including Levi’s, Land’s End, and Sears. Product strategist Jordan Montgomery has more than half a decade of brand development and analytics experience in the fashion industry.

Perfitly is a proven solution for apparel companies. It’s been deployed at select websites affiliated with Target, a national retailer. And it’s created a 64% reduction in item returns and an 80% increase in product conversion rates.

Furthermore, the company has deployed its software at six other retailers, and was named “Most Fundable Company” at an annual startup competition at Pepperdine University.

As mentioned, Perfitly helps solve a massive problem. Essentially, the apparel sector of the e-commerce industry struggles with two major issues: high returns and low conversion. This results in $19 billion in waste and $16 billion in lost sales.

Online shoppers return 30% to 40% of apparel purchases. And they buy only 2% to 3% of what they browse. This is mostly because they can’t see how the clothes look and fit.

The thing is, research shows that even a 1% drop in return rates could add roughly $10 million to a company’s bottom line. Pertifly aims to help companies achieve this drop.

Here’s how its software works:

Simply put, Pertifly acts as a five-step end-to-end solution. And it’s presented as a “try it on” button on each client retailer’s website or app.

First, the software creates an avatar (digital rendering) of the shopper. Second, it creates a 3D representation of the garment.

Third, the shopper selects the size of the item. Fourth, the software creates a visualized fit. And finally, the customer can personalize their choice, and adjust the size, color, etc.

On the retailer side of things, Perfitly can be implemented into a website or mobile platform using what the company says is “one line of code.”

Perfitly has four revenue streams:

1. SaaS fees: Each time a shopper clicks the “try it on” button, a per-use charge is activated. This charge is 9.5 cents and is paid by the retailer.

2. For smaller retailers, Pertifly charges monthly subscription fees instead of a per-use model.

3. Other custom services that may be required by the client are priced on a case-by-case basis.

4. Finally, shopper data analytics gathered by Perfitly are packaged and sold.

With funds raised, Perfitly will develop additional software features. These include the ability to try on multiple garments at a time, suggestive selling, and a feature that enables the shopper to see their avatar move while wearing the sample items.

Team Background

Jordan Montgomery - Product Strategy

Jordan has five years of product strategy and brand development experience in the fashion industry.

She began her career in sales with Alexander Wang, a New York-based fashion and apparel company. From there, she worked for KCD, a public relations firm. While there, she assisted with a Marc Jacobs fashion show.

More recently, she worked for rag & bone, a high-end New York City fashion retailer. After that, she was a product manager with Zadig & Voltaire, a fashion and apparel company.

Jordan earned a Bachelor’s degree in Apparel and Textile Marketing Management from the University of Missouri.

Michel Zampa - Product Development

Michel has spent more than 20 years developing virtual “try on” solutions for companies in the beauty and fashion industries. He’s worked specifically with Augmented and Virtual Reality technologies.

Throughout his career, he’s completed projects for brands including Levi’s, Land’s End, Sears, and H&M.

He holds a Bachelor’s degree in Political Science and a Master’s degree from the University de Montreal.

Dave Sharma - Co-Founder & CEO

Dave has more than 40 years of technology experience.

He began his career as Founder and CEO of Transitair, a company manufacturing automotive maintenance equipment. From there, he founded iRail.com, an information technology platform serving U.S. government contractors.

He earned his MBA from the Illinois Institute of Technology.

Kash Vyas - Co-Founder & CTO

Kash has spent 20 years delivering technology solutions to clients in the retail, online media, and digital advertising markets.

He started as a programmer and analyst with Morgan Stanley, an investment bank. He then spent four years as a senior developer with Goldman Sachs, another investment bank.

After that, he spent six years as Chief Technology Officer at iRail, an information technology company. He then was Director of Technical Sales with Kaltura, an open source platform for creating media applications.

More recently, Kash worked in the business development section of Amazon Web Services, focusing on the advertising market. He then became Senior Director of IP Services for Comcast, a telecommunications company.

He earned a Bachelor’s degree in Mechanical Engineering from Rensselaer Polytechnic Institute.

Co-Investors