{"data":{"type":"company_profile","id":8250,"entity_id":"wefunder:company:8250","attributes":{"canonical_url":"https://wefunder.com/mtailor","generated_at":"2026-06-04T18:38:13Z","updated_at":"2026-06-04T05:01:59Z","entity_ids":{"company":"wefunder:company:8250","slug":"wefunder:company_slug:mtailor"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-04T18:38:13Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-04T05:01:59Z","as_of":"2026-06-04T18:38:13Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-04T05:01:59Z","as_of":"2026-06-04T18:38:13Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-08-15T18:51:31Z","as_of":"2026-06-04T18:38:13Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-08-15T18:51:31Z","as_of":"2026-06-04T18:38:13Z","confidence":"medium"}}},"company":{"id":8250,"entity_id":"wefunder:company:8250","slug":"mtailor","name":"MTailor","tagline":"A master tailor in your pocket","elevator_pitch":"What would the world look like if everyone could know the clothing they are buying will fit accurately before they place their order? And not just accurate, but perfect - using AI and advanced software algorithms, our patented technology scans measurement features of consumers and creates an identical digital clone of their body -- all using the phone in their hands?","description":"What they do: MTailor brings the convenience of online shopping to custom tailored men’s shirts. MTailor allows customers to take their measurements with their phone’s camera, eliminating the need to go to a brick-and-mortar location. Customers can then customize their shirts and order without ever having left their home.Why this is a big deal: MTailor not only saves customers the inconvenience of having to go somewhere to get a custom-tailored shirt, it has the potential to fundamentally change the way we shop. With plans to expand their service to include more articles of clothing, MTailor could become a leader in the future of shopping where customers can order entire custom-fitted wardrobes through their phone. And by removing the labor and overhead involved in brick and mortar businesses, anyone will be able to afford to dress sharply.","story":"We've perfected the technology that retail companies need -- to create a significantly more profitable and better user experience.Online clothing returns represent a $13.5B per year problem for retail sales. 30% of clothing bought online is returned, with 70% of those returns due primarily to fit. Compare that to just 6% returns for clothing bought in-person, and it’s obvious that there’s a big problem here.Can you imagine a world where, before you buy something online, you know that it’s going to fit perfectly? With just a phone, our patented AI-based technology scans consumers to create a digital clone of their bodies. We then physically render how clothes will look on their exact bodies.By developing this technology with our own brand first, we have been able to close the feedback loop for iterating on the user experience and the technology. Now it’s ready for others.Since launch, MTailor has fit more than 100,000 customers, creating the largest commercially tested fit dataset in the world. More importantly, we're generating $5M+ annual revenue with this 'trojan horse' brand.The Total Addressable Market (TAM) is currently $15 billion per year and will only grow as ecommerce grows. MTailor’s technology will become the global standard for virtual apparel fit and try-on.Brands will drive adoption of MeasureUP because it will help them solve “online\u0026nbsp;fit anxiety.” As more consumers interact with MeasureUP, we will gain a consumer base that more brands will want to tap into. So brands drive new consumers, and a growing consumer base draws in more brands.","location":"San Francisco, CA","website":"https://www.mtailor.com/","total_amount_raised":2134400,"total_investors":1456,"is_funded":true,"is_active":true,"quality_score":5,"related_urls":["https://wefunder.com/mtailor","https://www.mtailor.com/"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/8250/xxl_cropped_v17_-_title_v3.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/8250/large_logo.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/8250/standard_cropped_v17_-_title_v3.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/8250/standard_cropped_v17_-_title_v3.jpg","profile_video_url":"https://wefunder.wistia.com/medias/vkdvtuyk0f"},"links":{"company_url":"https://www.mtailor.com/","twitter_url":"http://twitter.com/mtailor","facebook_url":"http://facebook.com/theMTailor"},"highlights":[{"id":62735,"name":"y_combinator","url":"ycombinator","presentable_name":"Y Combinator","description":"Raised from Y Combinator","image_url":"https://uploads.wefunder.com/2021/profile-highlights-yc.svg"}],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"Profitable ecommerce business with $5M+ in annual revenue"},{"index":2,"claim_id":"claim-fact-2","value":"Backed by Y Combinator and Khosla Ventures"},{"index":3,"claim_id":"claim-fact-3","value":"Utilizing the largest commercially tested fit database to launch new SaaS visualization platform"},{"index":4,"claim_id":"claim-fact-4","value":"Cutting edge AI and computer graphics to end online returns"},{"index":5,"claim_id":"claim-fact-5","value":"20% more accurate than a tailor - become the sizing platform for all online retail"},{"index":6,"claim_id":"claim-fact-6","value":"Metaverse implications by scanning your body and face to make one’s appearance realistic"},{"index":7,"claim_id":"claim-fact-7","value":"Founder turned down largest Shark Tank Deal ever \u0026amp; was recognized on the Forbes 30 Under 30 List"}],"team":[{"id":2859467,"entity_id":"wefunder:company_role:2859467","user_entity_id":"wefunder:user:2708037","role":"founder","name":"Miles Penn","title":"Founder","bio":"Fashion and AI entrepreneur and YC founder with a deep analytic/AI/big data background. Stanford grad. Turned down largest Shark Tank deal ever.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/2859467/square_cropped_1644629424248.jpg?1696870955","profile_url":"https://wefunder.com/miles.penn.3","linkedin_url":"https://www.linkedin.com/in/milespenn/","related_urls":["https://wefunder.com/miles.penn.3"]}],"featured_investors":[{"id":6005,"entity_id":"wefunder:company_investor_profile:6005","investor_profile_id":2216098,"investor_profile_entity_id":"wefunder:investor_profile:2216098","subject_entity_id":"wefunder:user:2747755","name":"Sebastian Gil","avatar_url":"http://uploads.wefunder.com/uploads/user/avatar/2747755/medium_cropped_1612728517037.jpg","profile_url":"https://wefunder.com/sebastian.gil","investment_total":25000,"investment_info":"Invested $25,000 this round","is_lead_investor":true,"related_urls":["https://wefunder.com/sebastian.gil"]}],"investor_memos":[],"tab_counts":{"posts":7,"ask_questions":42,"featured_investors":1,"faq_entries":5},"active_fundraises":[{"id":6833,"entity_id":"wefunder:fundraise:6833","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":5000000.0,"minimum_target":"50000.0","maximum_target":"5000000.0","funding_started_at":"2022-09-29T20:12:11Z","funding_closed_at":"2023-09-30T04:02:50Z","auto_close_at":"2023-09-30T03:59:59Z"},{"id":34864,"entity_id":"wefunder:fundraise:34864","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"equity","currency":"USD","testing_the_waters":true,"min_purchase":100,"max_purchase":9,"funding_target":5000000.0,"minimum_target":"50000.0","maximum_target":"5000000.0","funding_started_at":"2022-08-01T20:49:41Z"}],"latest_fundraise":{"id":6833,"entity_id":"wefunder:fundraise:6833","state":"successful","offering_type":"4(a)(6)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2022-09-29T20:12:11Z","funding_closed_at":"2023-09-30T04:02:50Z","terms":{"eb":null,"nb":"$33M","txt":"valuation cap"}},"recent_posts":[{"id":167234,"entity_id":"wefunder:feed_item:167234","type":"FeedItem::Update","visibility":"public","title":"Successful Raise, Closing Soon","preview":"Hi MTailor and Wefunder Community,I just wanted to provide a quick update regarding the close of this round. We have raised almost $2M from almost 1400 investors! Our customers and the Wefunder community have been incredible.With the funding to date, we’ve been able to assemble an elite strikeforce of 4 amazing AI engineers and researchers, including our first PhD. This new team is responsible for our upcoming fit algorithm improvements and our closed-beta 3D visualization technology. They ar...","published_at":"2023-09-19T22:05:14Z","author_name":"Miles Penn","url":"/feed/167234","canonical_url":"https://wefunder.com/feed/167234"},{"id":164166,"entity_id":"wefunder:feed_item:164166","type":"FeedItem::Update","visibility":"public","title":"Massive Site Speed Upgrade","preview":"Hi Everyone,We’ve been embarking on a massive update to various parts of our marketing and advertising funnel. It started with improving our site speed; we went from \u003c 5 on Google PageSpeed (really bad) to a 62. For reference, Amazon is only a 58, Casper Mattresses is a 22.Faster site speed is shown to improve a user’s experience and has been shown to significantly improve conversion rates. If you want to check it out for yourself, compare our website to others at https://pagespeed.web.dev/.\u0026...","published_at":"2023-05-26T20:55:39Z","author_name":"Miles Penn","url":"/feed/164166","canonical_url":"https://wefunder.com/feed/164166"},{"id":163738,"entity_id":"wefunder:feed_item:163738","type":"FeedItem::Update","visibility":"public","title":"New Team Member Updates","preview":"Hey guys,We’re doing some hiring lately as part of our growth plans.\u0026nbsp; I wanted to share with you some of what’s going on.We have had 7 open roles since we started fundraising, and we’ve now filled 2 of them:We have a new Technical Designer (Apparel) starting next weekWe have a new MLOps Engineer (ML = Machine Learning / AI) starting May 8thHiring a new and additional Technical Designer (apparel) will allow us to expand our 3D design capabilities as well as review our clothing products. S...","published_at":"2023-05-10T20:41:30Z","author_name":"Miles Penn","url":"/feed/163738","canonical_url":"https://wefunder.com/feed/163738"},{"id":163530,"entity_id":"wefunder:feed_item:163530","type":"FeedItem::Update","visibility":"public","title":"Major Enhancements to our Core Technology","preview":"We’ve been working on some enhancements to MTailor and I wanted to share with you some of the cool things that are going on.The team and I have developed significant enhancements to our fit algorithm. This is the core technology all our software uses to determine accurate measurements.\u0026nbsp;\u0026nbsp;We always strive for improvements however this latest initiative turned out to have a huge impact. The initial testing shows we were able to drop our existing error rate by 30%. It will take a couple...","published_at":"2023-05-01T19:55:08Z","author_name":"Miles Penn","url":"/feed/163530","canonical_url":"https://wefunder.com/feed/163530"},{"id":162544,"entity_id":"wefunder:feed_item:162544","type":"FeedItem::Update","visibility":"public","title":"MTailor Investor Webinar Replay","preview":"Hello Everyone!Lots of customers asked me to send out the replay of the webinar we did this past week, so I figured many may want to take a look. I think it’s pretty informative about our plans.Feel free to ping me with any questions!Miles\u0026nbsp;MTailor Webinar - Deep dive into the company and the opportunity ahead- Understanding the $13.5B retail clothing opportunity- Licensing our technology to large retailers and brands- What’s next for MTailor?- Q \u0026 A","published_at":"2023-03-31T00:05:35Z","author_name":"Miles Penn","url":"/feed/162544","canonical_url":"https://wefunder.com/feed/162544"},{"id":162317,"entity_id":"wefunder:feed_item:162317","type":"FeedItem::Update","visibility":"public","title":"MTailor Webinar - Deep dive into the company and the opportunity ahead","preview":"It's the second month of the MTailor funding round, reaching over $1.8M so far. We are psyched about the success!Many people in the MTailor Investor Club have had follow up questions, so the team and I have put together a presentation covering more information on our technology, vision, and the road ahead!------MTailor Webinar - Deep dive into the company and the opportunity aheadWednesday, March 29th, 2023 - 10 am Pacific / 1 pm EasternClick here to Watch Replay---We know not everyone can ma...","published_at":"2023-03-22T21:00:12Z","author_name":"Miles Penn","url":"/feed/162317","canonical_url":"https://wefunder.com/feed/162317"},{"id":159030,"entity_id":"wefunder:feed_item:159030","type":"FeedItem::Update","visibility":"public","title":"Wefunder Launch Update - We're Live!","preview":"Hi Everyone,I'm excited to announce our Wefunder campaign is now live!Our customers have already invested over $1.2M, and we're finally unlocking this investment opportunity to the rest of the world.\u0026nbsp;* Our ecommerce business does $5M+ in annual revenue* We’ve built the world’s largest commercially tested fit database* Our new 3D visualization technology is going to revolutionize how you shop online for clothing—We love that we’re able to let our customers and believers take part in our f...","published_at":"2023-02-23T15:07:39Z","author_name":"Miles Penn","url":"/feed/159030","canonical_url":"https://wefunder.com/feed/159030"}],"q_and_a":[{"id":224723,"entity_id":"wefunder:comment:224723","question":"Hello Miles, is the technology MTailor uses for measuring patented? And if so are you planning on licensing the technology to other clothing platforms or is MTailor planning on manufacturing the all the potential clothes, uniforms etc in house. Also what would a 1K investment get a person like myself (whom uses your app) gain down the line?","author_name":"Gary Hernandez / Motion Picture Editor","votes":6,"created_at":"2022-11-04T15:05:05Z","canonical_url":"https://wefunder.com/mtailor#question-224723","answers":[{"id":224727,"entity_id":"wefunder:comment:224727","answer":"Hey Gary! Yes, we have a patent, with more pending. We plan to build a platform where every brand can leverage our technology for measurements and 3D visualization. The term of this deal is a SAFE, which is a simple agreement for future equity. There isn’t a set price per share in a SAFE - rather, there is a \"valuation cap\" that the SAFE would convert at later. Exactly how many much will be determined at our next round of financing, but generally you should expect that if the value of the company is more than the valuation cap in the future, you’ll make money. You can learn more about SAFEs and SPVs here: https://help.wefunder.com/contracts. It is meant to and intended to become ownership in the company. The SAFE converts at IPO, acquisition or financing round: that means if the company were to IPO, then you would have the option to convert your purchase amount into shares.","author_name":"Miles Penn","votes":1,"created_at":"2022-11-04T15:43:31Z"}]},{"id":223990,"entity_id":"wefunder:comment:223990","question":"Hi, Here is a quote from Albert Einstein “We can't solve problems by using the same kind of thinking we used when we created them.” My question is what changes in your thinking have you applied to your business to launch next week as to opposed to a year ago? Thanks and good luck","author_name":"Jeff Rossbach","votes":5,"created_at":"2022-10-27T23:41:35Z","canonical_url":"https://wefunder.com/mtailor#question-223990","answers":[{"id":223992,"entity_id":"wefunder:comment:223992","answer":"Hey Jeff, I always love a good Einstein quote! Vs. a year ago, we've built and proven the 3D technology internally. I only felt comfortable raising funds once we'd verified that this technology is going to deliver a really compelling experience for users","author_name":"Miles Penn","votes":0,"created_at":"2022-10-27T23:56:40Z"}]},{"id":222509,"entity_id":"wefunder:comment:222509","question":"Hi, going forward is the focus going to be on the SaaS business (MeasureUp), the current ecommerce business, or both? Related qn: Is this funding round for the SaaS business, the ecommerce business, or both? Thank you!","author_name":"Bernard Chen","votes":3,"created_at":"2022-10-16T19:48:52Z","canonical_url":"https://wefunder.com/mtailor#question-222509","answers":[{"id":222516,"entity_id":"wefunder:comment:222516","answer":"Hey Bernard, excellent question! Without being glib, in some sense it will be both. We'd like to 5 - 20x the ecom business, which I think is highly doable, especially given that we're the only way to order a professionally tailored suit without stepping into a store. But the primary focus of the funds will be the SaaS business and our technology development; that being said, new technology will usually go inside MTailor first. For example, our 3D visualization technology is going to launch inside of MTailor before MeasureUP, and I expect that to boost the MTailor business.","author_name":"Miles Penn","votes":1,"created_at":"2022-10-16T22:09:15Z"}]},{"id":222450,"entity_id":"wefunder:comment:222450","question":"How much are you looking to raise, and what are the expectations for how the capital will be used (key hires, etc.)? Further, what has you looking at crowd funding versus traditional venture investing? Will Khosla Ventures be involved in this round given prior investments? If not, why not?","author_name":"Christoph S","votes":3,"created_at":"2022-10-15T19:05:46Z","canonical_url":"https://wefunder.com/mtailor#question-222450","answers":[{"id":222470,"entity_id":"wefunder:comment:222470","answer":"Hey Christoph, you can see a more technical breakdown in the \"Use of Funds\" section in Other Disclosures, but at a high level, funds will go towards (1) refining our measurement technology for even better accuracy, (2) launching and developing 3D visualization previews and sizing recommendations for MTailor first and then external brands, and (3) building out and scaling the SaaS platform for (2). This will translate to hiring larger engineering and machine learning / AI teams and investing in B2B sales. Re:crowd funding, we have a lot of fans who believe in us, our technology, and the future, and I'd love for the upside on our future to be owned by many of our believers, as opposed to a traditional VC that lacks passion for us and is investing in just the numbers. KV sits on the board and is still a part of the company, but they won't be adding fresh capital to this round. They have already reached their typical \"ownership threshold\" in us, having led 2 of our funding rounds.","author_name":"Miles Penn","votes":0,"created_at":"2022-10-15T23:05:36Z"}]},{"id":315485,"entity_id":"wefunder:comment:315485","question":"it has been more than a year since last update, we need to know what is new","author_name":"Ahmad Hashish","votes":2,"created_at":"2025-09-22T19:24:51Z","canonical_url":"https://wefunder.com/mtailor#question-315485","answers":[]},{"id":251499,"entity_id":"wefunder:comment:251499","question":"Nice proyect!","author_name":"Botas Cowboy","votes":2,"created_at":"2023-06-22T17:13:36Z","canonical_url":"https://wefunder.com/mtailor#question-251499","answers":[{"id":251550,"entity_id":"wefunder:comment:251550","answer":"Thank you!","author_name":"Miles Penn","votes":1,"created_at":"2023-06-22T20:46:14Z"}]},{"id":230361,"entity_id":"wefunder:comment:230361","question":"Lots of questions questions here (sorry!): 1) if things have been profitable, why did cash drop to half of what it was at the end of 2021 (the details page shows $267,000 cash on hand in Aug 2022), 2) on the statement of operations, there is a line for \"Other Income\" which brought in about $600K. What is included in this other income?, 3) you've got $120K of machinery under property and equipment. As a software company, I would expect very little machinery, what machinery would Mtailor have?, 4) is there any actual finished goods inventory on hand stored in a warehouse? I see a significant balance for inventory but it seems to high to just be fabric and trims, 5) is Mtailor renting out an entire factory based in Bangladesh and is the clothing produced there?, 6) how is Med-Tailor involved with MTailor legally, is it a subsidiary of MTailor? Are any software development costs offset to Med-Tailor?, 7) What were sales in 2019 and what were sales in 2022? I would have thought that 2020 would have been a worse year for COVID than 2021 since the US opened up in 2021. Since marketing costs are only 20% of revenue, I would imagine you could have spent more in marketing in 2021 to grow beyond 2020's revenue, 8) what are your remake and refund rates? How often are customers asking for adjustments? What happens to the inventory that is returned back due to a remake or refund?, 9) how large is your development team up to this point? And are they overseas or on-shore?, 10) how much pay is the executive team taking?","author_name":"Bo Chen","votes":2,"created_at":"2023-01-05T03:24:23Z","canonical_url":"https://wefunder.com/mtailor#question-230361","answers":[{"id":230533,"entity_id":"wefunder:comment:230533","answer":"Hey Bo! 1. The ecommerce side of MTailor has been profitable. But we've ramped up engineering spend for new technology, primarily focused on 3D visualization. So the ecom profits have been used to fund that R\u0026amp;D. 2. Other income was a combination of Bangladesh and US government credits and incentives. 3. Up to now, we've been a vertically integrated direct to consumer apparel company. We own everything from the brand to the technology to the manufacturing. We built, own, and operate our own factory in Bangladesh that manufactures all our clothing. This has allowed us to have high gross margins, fast delivery times, and tight quality control. 4. No finished goods, as everything is made on-demand and custom when someone orders from us, typically in 1 - 2 days from order (the rest of the time is shipping / transit time). So it is just raw materials (the bulk being fabric) to make people's custom clothes. 5. We have our own subsidiary in Bangladesh that manufactures all our clothing. We rent the factory space but own the equipment, employ the people, etc... While unusual, we found normal clothing manufacturers do a terrible job for custom clothing - they were slow, expensive, failed to meet exacting quality standards (we worked with vendors for years). When we opened our own manufacturing, our margins went up and delivery times went down. We could also do things like create custom fit jeans, because we owned the product development. 6. MedTailor is legally a separate company. It isn't a subsidiary. We get paid by them to supply measurements via the MeasureUP app and to manufacture and ship their clothing. 7. Sales in 2019 were $9.6M, and we haven't quite closed our 2022 books yet, so I can't give a final number there. 2020 vs 2021 - covid was pretty similar. And yes, our marketing has done really well, especially as we had to focus during covid. But Apple's release of ATT (https://www.singular.net/glossary/app-tracking-transparency/#:~:text=App%20tracking%20transparency%20(ATT)%20is,by%20companies%20other%20than%20Apple.) made running and scaling advertising extremely difficult, so we have been figuring out how to successfully navigate that. 8. We don't publicly release this for competitive reasons, but they're low enough for our gross margins to be pretty high, as returns subtract from gross revenue (so net revenue is net of returns) and remakes show up as added COGs. You can read from many of our comments that we generally do a great job re:fit. 9. We have scaled the development team to 8 full-time and are planning to expand. 10. We aren't breaking our executive pay separately, but we run pretty lean as far as people and salaries go.","author_name":"Miles Penn","votes":2,"created_at":"2023-01-06T18:22:14Z"}]},{"id":222451,"entity_id":"wefunder:comment:222451","question":"How did you arrive at the 27M valuation cap?","author_name":"James Locatelli","votes":2,"created_at":"2022-10-15T19:08:23Z","canonical_url":"https://wefunder.com/mtailor#question-222451","answers":[{"id":222471,"entity_id":"wefunder:comment:222471","answer":"Hi James, $27M is actually the early bird valuation cap; the regular one is $33M. We arrived at $33M from talking to both our current investors and external investors; that takes into account the profitable ecom business, the largest commercially tested fit dataset in the world, our patented technology, the market opportunity, and the strong team we have assembled. I set the early bird valuation cap at $27M, because I didn't want valuation (vs. $33M) to be a huge barrier for our biggest believers.","author_name":"Miles Penn","votes":0,"created_at":"2022-10-15T23:10:21Z"}]},{"id":222449,"entity_id":"wefunder:comment:222449","question":"Is the valuation cap $27 million or $33 million? One page has $33m crossed out replaced by $27m. Documents on the SEC Edgar system show $33m. Which is it?","author_name":"Stan Shoemaker","votes":2,"created_at":"2022-10-15T18:57:53Z","canonical_url":"https://wefunder.com/mtailor#question-222449","answers":[{"id":222469,"entity_id":"wefunder:comment:222469","answer":"Hey Stan, I see your confusion. The first $1M of investments will be at a $27M valuation cap; anything above that we raise will be $33M. The idea here is I really want our dedicated customers and fans to be able to get in and feel good that you're getting this lower valuation cap before we open up the round to the general public.","author_name":"Miles Penn","votes":0,"created_at":"2022-10-15T22:57:13Z"}]},{"id":326825,"entity_id":"wefunder:comment:326825","question":"Anyone want to buy my stake from me, I have 1k invested.","author_name":"David Wagner","votes":1,"created_at":"2026-03-04T04:20:20Z","canonical_url":"https://wefunder.com/mtailor#question-326825","answers":[]},{"id":276916,"entity_id":"wefunder:comment:276916","question":"This is a great concept with great potential. I would like to see more updates on your progress. Its been a while.","author_name":"Daniel Osso","votes":1,"created_at":"2024-02-22T02:57:31Z","canonical_url":"https://wefunder.com/mtailor#question-276916","answers":[{"id":277140,"entity_id":"wefunder:comment:277140","answer":"Hey Daniel, did you not get our latest monthly update (sent via email) that went out to all our investors? If not, I will personally resend to you","author_name":"Miles Penn","votes":0,"created_at":"2024-02-23T19:53:13Z"}]},{"id":271968,"entity_id":"wefunder:comment:271968","question":"Is Walmart poised to take over MTailor's first mover advantage? Walmart’s Embedded AI Improves Everything from Supply Chain Management to Fitting Room Tech The world’s largest retailer, Walmart, is using embedded AI across the company to improve both the company’s operations and the customer experience. For instance, Walmart has large language models (LLMs) like GPT-4 to create nearly two dozen different experiences that use the platforms for natural language understanding capabilities. This includes a chatbot that 1 million Walmart associates interact with for customer care. In an interview with VentureBeat in April 2023, Desirée Gosby, Vice President of Emerging Technology at Walmart Global Tech, said generative AI “will be as big a shift as mobile, in terms of how our customers are going to expect to interact with us.” Here are four distinct ways Walmart is using AI: ... Second will be the deployment of AI-powered fitting room tech. Imagine Walmart’s dynamic virtual fitting room, which will allow customers to shop for clothes online and see how a given item will actually look on them. The company’s “Choose My Model\" experience offers customers a choice of 50 models between 5’2” – 6’0” in height and sizes XS – XXXL. This allows customers to choose a model who best represents their height, body shape, and skin tone. Eventually, such generic body models will be replaced by your own detailed avatar—derived from a high-resolution body and facial scan of the type already available today. Imagine having the AI system spin up a fashion show with 30 copies of your avatar walking down the runway modeling 30 different outfits for your selection.","author_name":"John Austin","votes":1,"created_at":"2023-12-17T00:35:00Z","canonical_url":"https://wefunder.com/mtailor#question-271968","answers":[{"id":276368,"entity_id":"wefunder:comment:276368","answer":"Hi John, I am not worried. Big companies announce lots of stuff that they have no ability to execute on. Walmart in particular purchased Zeekit (https://corporate.walmart.com/news/2022/03/02/walmart-launches-zeekit-virtual-fitting-room-technology), and IMO, that's gone nowhere. Best, Miles","author_name":"Miles Penn","votes":1,"created_at":"2024-02-16T02:52:53Z"}]},{"id":265388,"entity_id":"wefunder:comment:265388","question":"when next are you raising on wefunder?i suppose this round has closed","author_name":"Bankole Alao","votes":1,"created_at":"2023-10-12T11:57:12Z","canonical_url":"https://wefunder.com/mtailor#question-265388","answers":[{"id":276366,"entity_id":"wefunder:comment:276366","answer":"Hey Bankole, we don't have any definitive plans currently to raise in the near-term on Wefunder.","author_name":"Miles Penn","votes":0,"created_at":"2024-02-16T02:50:12Z"}]},{"id":262129,"entity_id":"wefunder:comment:262129","question":"Will you eventually be offering women's clothing?","author_name":"Lora Alexander","votes":1,"created_at":"2023-09-14T00:28:09Z","canonical_url":"https://wefunder.com/mtailor#question-262129","answers":[{"id":262134,"entity_id":"wefunder:comment:262134","answer":"Hey Lora! We sell women's jeans right now but would love to eventually expand into a variety of products for women","author_name":"Miles Penn","votes":0,"created_at":"2023-09-14T01:08:17Z"}]},{"id":257310,"entity_id":"wefunder:comment:257310","question":"Hello Mr. Miles ,this part of the risk section is not clear to me (The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.)","author_name":"Ahmad Hashish","votes":1,"created_at":"2023-08-06T18:50:42Z","canonical_url":"https://wefunder.com/mtailor#question-257310","answers":[{"id":257617,"entity_id":"wefunder:comment:257617","answer":"Hi Ahmad! Apologies for my delayed response. The investment is as a SAFE - https://help.wefunder.com/contracts/304785-safe-simple-agreement-for-future-equity. It is in many ways an easier way to raise financing, but the expectation is, upon a future fundraising event, it will convert to equity via the Valuation Cap. A future equity round would likely be from venture capitalists, but it could be an IPO. Please let me know if that didn't clear it up for you!","author_name":"Miles Penn","votes":1,"created_at":"2023-08-08T23:34:04Z"}]},{"id":248027,"entity_id":"wefunder:comment:248027","question":"Miles, Yes I am. Strong Consideration right now. I get some of my Double Breasted suits tailor made from an Italian Clothiers. this will be a major change for me. I like what I see on your website thus far","author_name":"James Williams","votes":1,"created_at":"2023-05-24T16:16:02Z","canonical_url":"https://wefunder.com/mtailor#question-248027","answers":[{"id":248065,"entity_id":"wefunder:comment:248065","answer":"Hey James! We'd love to win your business. Vs. other typical custom clothiers, we're usually way, way more affordable. We can do that because of our technology, even though the quality is still great. And we have free remakes and returns if any issues arise. However, we don't yet offer a double breasted option. Let me know if you have more questions.","author_name":"Miles Penn","votes":0,"created_at":"2023-05-24T18:51:42Z"}]},{"id":247781,"entity_id":"wefunder:comment:247781","question":"how long will you keep the Wefunder raise open? thanks","author_name":"James Williams","votes":1,"created_at":"2023-05-22T20:54:03Z","canonical_url":"https://wefunder.com/mtailor#question-247781","answers":[{"id":247794,"entity_id":"wefunder:comment:247794","answer":"Hey James! We don't have a finalized close date set yet. Are you looking to make an investment before we do?","author_name":"Miles Penn","votes":0,"created_at":"2023-05-22T22:20:21Z"}]},{"id":247535,"entity_id":"wefunder:comment:247535","question":"Hi Miles, can you provide the audited 2022 financials as promised? How is 2023 revenue tracking compared to your projections? Lastly, do you have any indicators that suggest a possible increase in revenue throughout 2023? Thanks!","author_name":"Max D.","votes":1,"created_at":"2023-05-19T21:58:31Z","canonical_url":"https://wefunder.com/mtailor#question-247535","answers":[{"id":247541,"entity_id":"wefunder:comment:247541","answer":"Hey Max! You can find our 2022 audited financials via https://wefunder.com/mtailor/details - search for the link titled \"Bit Body Audited Financial Statements 2021 and 2022.pdf.\" Revenue's on track thus far. We have a lot of exciting stuff coming up that has potential for increase in revenue, from a new fit algorithm release to a redesign of many of our landing pages. We've been very focused on getting our conversion rate up so that we can dramatically expand profitable advertising.","author_name":"Miles Penn","votes":0,"created_at":"2023-05-19T22:49:13Z"}]},{"id":246477,"entity_id":"wefunder:comment:246477","question":"Hi Miles. Do you have or are interested in alliances with shoe and accessory companies to generate additional revenue streams? I see the models wearing nice shoes and sunglasses in the emails, but no way to purchase them and get that complete look or see other complimentary options. Having worked for a startup going through several funding rounds, I know how important it is to optimize your resources. I think it's a great way to leverage your customer relationships and add value to the purchase.","author_name":"Jason Kyles","votes":1,"created_at":"2023-05-11T14:12:55Z","canonical_url":"https://wefunder.com/mtailor#question-246477","answers":[{"id":246562,"entity_id":"wefunder:comment:246562","answer":"Hey Jason! Definitely important to optimize our customer LTV. But we have more basic problems atm, where many customers who buy dress shirts don't even know we sell jeans. So we need to crawl before we can run on cross-selling","author_name":"Miles Penn","votes":2,"created_at":"2023-05-12T04:02:34Z"}]},{"id":243397,"entity_id":"wefunder:comment:243397","question":"Hi, can you share revenue projections for current fiscal year, burn rate/ how much you expect to make, and exit strategy?","author_name":"Jarod Rudisill","votes":1,"created_at":"2023-04-18T01:26:17Z","canonical_url":"https://wefunder.com/mtailor#question-243397","answers":[{"id":243418,"entity_id":"wefunder:comment:243418","answer":"Hey Jarod! We'll be releasing audited 2022 financials by May 1st. Current revenue projections are flat at around $5M without any improvements, but I hope to get to a run rate of $15M by the end of the year. We expect to burn $50K - $150K / month as we grow the engineering and AI teams to fully build out the 3D visualization experience. Re:exit, I'm mostly focused on building a generational company, and then exit options to follow. I expect we will get big enough to IPO, but along the way, I am sure strategic acquirers will approach us. Let me know if you have any more questions.","author_name":"Miles Penn","votes":1,"created_at":"2023-04-18T03:48:50Z"}]},{"id":239422,"entity_id":"wefunder:comment:239422","question":"Only 2% of human people have green eyes. Therefore, Miles is most likely a genius, and I will be doubling down on my investment.","author_name":"Jason Dellorfano","votes":1,"created_at":"2023-03-20T05:18:18Z","canonical_url":"https://wefunder.com/mtailor#question-239422","answers":[{"id":239491,"entity_id":"wefunder:comment:239491","answer":"Hey Jason! Thank you for the compliment. But I do not personally recommend investing based on eye color for what it's worth","author_name":"Miles Penn","votes":3,"created_at":"2023-03-20T20:47:25Z"}]},{"id":238519,"entity_id":"wefunder:comment:238519","question":"What type of machine learning model are you using to measure clothing sizes, and how have you validated it to ensure that it provides accurate and consistent results across a variety of body types and clothing styles? Given that the UX of the app and website appears somewhat outdated, could you provide some insights as to why it may not be functioning in other countries?\"","author_name":"Amitabh Dayal","votes":1,"created_at":"2023-03-12T18:46:46Z","canonical_url":"https://wefunder.com/mtailor#question-238519","answers":[{"id":238579,"entity_id":"wefunder:comment:238579","answer":"Hey Amitabh! We utilize a variety of deep learning and computer vision models at MTailor. Re:validation, we do a variety of tests internally, but ultimately, since we've sold clothing to \u0026gt; 100K people, the proof is in the pudding of real world customer experiences and return rates. Re:other countries, we're still small in the US and have heavily optimized logistics for US delivery. It's just a question of where to put our resources - growing in the US or expanding internationally. Up to now, I haven't felt it made sense to pursue international growth at the expense of focus on the US","author_name":"Miles Penn","votes":0,"created_at":"2023-03-13T01:41:14Z"}]},{"id":238480,"entity_id":"wefunder:comment:238480","question":"Why has revenue went down from 2020 to 2021?","author_name":"Nicholas Peterson","votes":1,"created_at":"2023-03-12T11:53:08Z","canonical_url":"https://wefunder.com/mtailor#question-238480","answers":[{"id":238500,"entity_id":"wefunder:comment:238500","answer":"Hey Nicholas, the revenue drop was a combination of covid / WFH and Apple's \"privacy\" updates that made digital advertising much more challenging (https://www.cnbc.com/2021/03/11/why-facebook-is-so-upset-about-apple-idfa-change-insiders-spill.html). While that was a tougher environment, we managed to decrease the average customer acquisition cost by 20% and increase the average new customer order value by 34%, making each new customer much more profitable. We're aiming to grow significantly in 2023 as we work through the changes in digital advertising systems","author_name":"Miles Penn","votes":0,"created_at":"2023-03-12T16:30:05Z"}]},{"id":238334,"entity_id":"wefunder:comment:238334","question":"What if an investor has an idea for the technology that would generate additional revenue streams? What does that process look like?","author_name":"Quint Howell","votes":1,"created_at":"2023-03-10T20:30:21Z","canonical_url":"https://wefunder.com/mtailor#question-238334","answers":[{"id":238335,"entity_id":"wefunder:comment:238335","answer":"Hey Quint, I'd be happy to hear about it!","author_name":"Miles Penn","votes":0,"created_at":"2023-03-10T20:42:41Z"}]},{"id":237658,"entity_id":"wefunder:comment:237658","question":"What are the tax obligations, as a SAFE investor?","author_name":"Richard White","votes":1,"created_at":"2023-03-07T02:15:08Z","canonical_url":"https://wefunder.com/mtailor#question-237658","answers":[{"id":237746,"entity_id":"wefunder:comment:237746","answer":"Hey Richard! I can't give official tax advice, but my understanding is this: you won't have a tax obligation (like a K-1 to file) until the SAFE converts into equity and there is a liquidity event (e.g., IPO or acquisition). I don't anticipate any tax consequences for 2023.","author_name":"Miles Penn","votes":1,"created_at":"2023-03-07T15:54:52Z"}]}],"faq":[{"question":"Is the valuation cap $27 million or $33 million? One page has $33m crossed out replaced by $27m. Documents on the SEC Edgar system show $33m. Which is it?","answer":"Hey Stan, I see your confusion. The first $1M of investments will be at a $27M valuation cap; anything above that we raise will be $33M. The idea here is I really want our dedicated customers and fans to be able to get in and feel good that you're getting this lower valuation cap before we open up the round to the general public."},{"question":"How much are you looking to raise, and what are the expectations for how the capital will be used (key hires, etc.)? Further, what has you looking at crowd funding versus traditional venture investing? Will Khosla Ventures be involved in this round given prior investments? If ...","answer":"Hey Christoph, you can see a more technical breakdown in the \"Use of Funds\" section in Other Disclosures, but at a high level, funds will go towards (1) refining our measurement technology for even better accuracy, (2) launching and developing 3D visualization previews and sizing recommendations for MTailor first and then external brands, and (3) building out and scaling the SaaS platform for (2). This will translate to hiring larger engineering and machine learning / AI teams and investing i..."},{"question":"How did you arrive at the 27M valuation cap?","answer":"Hi James, $27M is actually the early bird valuation cap; the regular one is $33M. We arrived at $33M from talking to both our current investors and external investors; that takes into account the profitable ecom business, the largest commercially tested fit dataset in the world, our patented technology, the market opportunity, and the strong team we have assembled. I set the early bird valuation cap at $27M, because I didn't want valuation (vs. $33M) to be a huge barrier for our biggest belie..."},{"question":"Why do you repeatedly refer to MTailor as a \"profitable\" company when it is not yet profitable by your own financial disclosures? This appears disingenuous.","answer":"Hey James, I can see the confusion there. The ecom side of the company is quite profitable; however, we've been working on 3D visualization (and the SaaS business) for ~2 years. We've been utilizing the profits from the ecom business to fund all the new technology development (meaning a lot of engineering and machine learning / AI resources). Now that we're so close to getting 3D visualization into the world for the v1, we want to step on the gas to speed up iteration time of the technology!"},{"question":"Hi, did the investors in the 2014 SAFE have their investments converted to anything during the 2016 priced round or are they still waiting for an event? Will this SAFE affect them negatively in any way?","answer":"Hey Justin, good question! All our prior SAFEs were converted to preferred equity in our last priced round. This SAFE will, like any type of additional funding, dilute the prior SAFE holders a bit, but not any different than any other shareholder. But it'll allow us to hire and build out our technology roadmap much faster, so everyone should win in the end from the round :-)."}]}}}