Former IBM and Kodak executive Sandra Gault has raised additional money for her app, True Gault, that helps design a custom pair of high heels.
True Gault has secured funding from venture capitalist Tim Draper. According to a company spokesperson, Draper took action through the brand’s equity crowd-funding campaign, launched through investment platform Republic.
The brand was chosen from over 3,000 companies to join a group of up to 39 startups on Republic. The platform offers equity crowdfunding campaigns — meaning, anyone can become a financial stakeholder in True Gault for a minimum investment of $100.
The spokesperson said the company has raised more than three-times its equity crowd-funding goal through the platform, which includes the investment by Draper.
Draper first became aware of True Gault’s technology when the brand’s founder and CEO appeared on the pilot season of Sony’s Meet the Drapers. The spokesperson noted that the television series is “hosted by three generations of the prominent Silicon Valley family.”
Watch on FN
Members of the Draper family heard pitches from startups in search of funding. “True Gault and other startups from wide-spanning industries simultaneously worked to convince millions of viewers to fund them via their own equity crowdfunding campaign on Republic.co.,” explained the spokesperson. “True Gault made it to the finals, and during the February 2018 season finale, it was awarded the ‘viewer’s choice’ award.”
“Our business is about replacing antiquated industry norms with innovation, so it makes sense that we would take the same approach to fundraising,” Gault said. “Women-led startups typically have a much harder time raising capital, so we opted for a fresh approach.”
True Gault uses photos from a customer’s iPhone to create custom women’s shoes with an optimal fit, providing a unique twist on traditional shopping.
UPS Taps Wal-Mart Executive for a ‘Transformation’ Role