Multiply Labs Raises $20M in Series A Funding
20 Apr, 2021
– TryNow, a software platform that enables consumers to easily try items at home before buying, raised a $12m Series A funding round from Shine Capital, Craft Ventures, SciFi VC, Third Kind, and Plaid co-founders Zachary Perret and William Hockey.
– TryNow also hired two key executives from Stitch Fix and Affirm as the company’s VP of Growth Strategy and VP of Platform, respectively.
– TryNow’s software platform brings the dressing room to the living room, allowing consumers to check out for free, try items in the comfort of their own home, return unwanted items easily, and only pay for what they keep.
– TryNow brands see a 63% increase in average order value, a 22% increase in conversion rates, and a 76% increase in return on ad spend.