Alta Secures $20 Million In Series A Funding Led By Forerunner Ventures

Alta, the NYC-based AI styling and avatar app, has raised $20 million in a Series A funding round. The funding was led by Forerunner Ventures, with participation from returning investors Menlo Ventures, Aglaé Ventures, and Benchstrength, along with notable angel investors including Nico Rosberg and Kelvin Beachum Jr.

Summary of transaction details:

• Deal Type: Series A
• Transaction Amount: $20,000,000
• Company: Alta
• Key Executives: Jenny Wang (CEO), Joon Kim (CTO)
• Headquarters: New York City, New York
• Notable Investors: Forerunner Ventures, Menlo Ventures, Aglaé Ventures, Benchstrength, Nico Rosberg, Kelvin Beachum Jr., Jasmine Tookes, Keltie Knight, Meredith Koop, Karlie Kloss, Zita D’Hauteville, Meena Harris, Paris Johnson Jr & Rylee Martell, Manish Chandra

Founded as an AI-powered digital closet, Alta has evolved into a platform that allows users to generate millions of outfits daily and create one Alta Avatar every second. The company plans to utilize the new funding to enhance its in-house computer vision models and personalized recommendation algorithms, while also expanding into new commerce categories.