About

SafeSize helps footwear retailers to better serve customers by finding perfect fitting shoes.

Solution & Product

For physical stores, SafeSize has developed a 3D Foot Scanner which measures the foot dimensions in just 5 seconds and with very high accuracy. For online shopping, Safesize has created an application which allows the user to scan her foot at home using her mobile phone, following a quick and easy process. Artificial Intelligence Algorithm: Utilizing the 3D Foot scan date, the SafeSize algorithm virtually "tests" all the shoes available in the store on the customer's foot in less than 2 seconds and then the special software directly suggests to the customer the shoes that best fit his foot. The customer maintains his profile and is able to buy shoes easily and quickly online. The smart algorithm constantly learns and personalizes its proposals for as long as the customer buys.

Innovation & Scalability

The SafeSize 3D foot and shoe scanning solution changes the way footwear is sold. It takes uncertainty out of both offline and online purchases and adds a “wow” factor to the in-store experience. The solution uses state-of-the-art 3D image capturing technology combined with AI-based algorithm use and provides an innovative way of footwear shopping. SafeSize stands out from competition by: - providing most accurate recommendation – based on precise 3D inner dimensions of footwear and a scan process replicating pressure of an actual foot inside a shoe, instead of relying on sizing tables - not only recommending the right size, but also the right functional fit for a sport shoe (for 10+ sports) - providing children shoe recommendation: using a special algorithm developed based on millions of foot scans, the SafeSize software is able to predict the growth rate of a child’s foot and recommend in what month a larger size of shoes will be needed - having the largest consumer foot scan database in the world (+12m) - having the largest database of scanned shoes (+3.5m) - integrating the solution with retailer website and mobile app for online 3D size and fit advice - working with in-house foot/shoe specialists and podiatrists for fitting expertise - providing fitting recommendation not only on the right shoe but also on the perfect sizing custom insole

Traction & achievements

SafeSize started in 2014 and has grown to 50+ FTE, four offices (Athens, Amsterdam, Ljubljana, Shanghai) and over 1300 stores using SafeSize scanning systems. SafeSize revenue grew between 2013-2020 at around 43% per annum, while it's EBITDA positive since 2018. Safesize’s customer base includes some of the largest retailers in the world, including among others Intersport, Decathlon, Xebio, CCC, Sport 2000, JD. Key milestones: 2014 – Founding of Safesize; launch of online size recommendation 2015 - Introduction of new shoe scanning solution 2016 – Launch of current generation of 3D foot scanner 2018 – New investment round of 10m agreed, incl. European Investment Fund (EIF) as investor 2019 – Implementation of “mini-stores” with SafeSize scanners, new retail concept; 2020 – Opening of Shangai office; expansion in Japan through Xebio 2021 – Becoming part of Endeavor Greece's Scale-up Program

Team & Why Us

SafeSize currently employs 60 FTEs across four offices: 1) Amsterdam: 22 FTE in Sales, Operations, Finance, HR and Marketing teams 2) Athens: 17 FTE in Product & Innovation team 3) Ljubljana: 18 FTE in Engineering team 4) Shanghai: 3 FTE in APAC commercial team SafeSize has become the global leader in the niche market of shoe recommendation and fitting advice, and conducts business in more than 50 countries globally. There is however a lot of further growth potential. Currently in Europe SafeSize is present in over 1,600 retail stores while the total potential of existing customers is over 20,000 stores. In APAC SafeSize is currently present with 300 stores, with a marketing potential of over 45,000 stores. The growth of online retail also allows for expansion of the online business to additional online retailers. In Greece, SafeSize operates a Product & Innovation hub. The intention is to develop all new innovative products in Greece and to have them released from 2021 onwards around the world. SafeSize has already doubled its people in the Greek Office within 2022 and is targeting to reach 50+ FTEs within the next 3 years.

Funding Needs

Safesize will proceed to a Series B round in the range of 15m-25m early 2023.