True Gault, a 3-D imaging shoe brand, has secured an undisclosed amount of funding. The investor was Tim Draper, who invested via True Gault’s equity crowdfunding campaign launched through the Republic investment platform.
New York, NY (March 28, 2018): Revolutionary 3-D imaging shoe brand, True Gault (www.truegault.com) announces today that it has secured funding from legendary venture capitalist, Tim Draper, who invested via True Gault’s innovative equity crowdfunding campaign launched through the Republic investment platform.
The continuously heralded start-up uses a series of easy-to-take photos from an individual’s iPhone to create custom women’s shoes, guaranteed to fit precisely and to provide unparalleled comfort. Thus True Gault is changing the rules of the game for the footwear industry and how women discover, buy and wear shoes.
True Gault was handpicked from over 3000 companies to join a group of up to 39 start-ups on Republic, which touts a new type of equity crowdfunding campaign designed to offer anyone the opportunity to become a financial stakeholder in True Gault for as little as $100. Led by CEO & Founder, Sandra Gault, the company raised over 310% of its equity crowdfunding goal via Republic including its investment by Tim Draper, who experienced True Gault first-hand (or first-foot!) during Sandra’s December 2017 appearance on the eponymously named SONY pilot season of Meet the Drapers.
Meet the Drapers is hosted by three generations of the prominent Silicon Valley family. Bill, Tim, and Jesse Draper came together to listen to 3 exciting start-ups per episode pitch their ideas while seeking investment. True Gault and other start-ups from wide-spanning industries simultaneously worked to convince millions of viewers to fund them via their own equity crowdfunding campaign on Republic.co.
True Gault made it to the Finals, and during the February 2018 Season Finale was awarded the “Viewer’s Choice” Award in conjunction with Tim Draper’s investment.
True Gault Founder & CEO, Sandra Gault, commented, “Our business is about replacing antiquated industry norms with innovation, so it makes sense that we would take the same approach to fundraising.
Women-led start-ups typically have a much harder time raising capital, so we opted for a fresh approach.
We are empowering fans of the brand to build a long-term relationship with the True Gault through a stakeholder position where they actually get to participate in our financial success. Working with SONY’s Meet the Drapers and Republic was thrilling, and we were able to offer a lot of people the chance to be a part of the future of footwear.”
In a matter of months, True Gault has garnered tremendous and widespread attention. The company recently announced that ELLE Magazine Editor in Chief and Project Runway judge, Nina Garcia, joined the team as an Advisor. Supermodels such as Niki Taylor have been photographed wearing the shoes on the streets of NYC and on red carpets, and thousands of women are transforming their relationships with their shoes.
Additionally True Gault was invited to join the ultra-esteemed Google Accelerated Growth Program (the likes of which launched other industry-redefining brands such as Warby Parker and Casper).
True Gault addresses two major problems: standardized shoe sizing leads to ill-fitting shoes which cause pain and discomfort; and shoes are nearly impossible to buy online with confidence. As a solution, True Gault uses 3D imaging software and patent-pending fit formula to create custom-fit shoes, hand made in Spain. A customer simply takes three pictures of each foot via the True Gault iPhone app, and the smart technology generates her unique size and a 3D model of each foot, obliterating past reliance on traditional sizing. The result is an innovative shopping experience and a custom pair of heels, made to order, delivered in less than four weeks and backed by the True Gault 100% Fit Guarantee.
About True Gault
True Gault uses 3D imaging technology to scan women’s feet and makes beautiful shoes that fit – all via an iPhone.
To remedy the hassle and (often physical) pain of buying shoes online that don’t fit well, True Gault uses an iPhone app to measure the unique contours of each foot and produces hand crafted shoes in Spain, and backs up each purchase with a True Gault fit guarantee. With True Gault’s innovative technology, women no longer have to sacrifice style for fit – they can truly have it all.
Customers can customize their shoes from a selection of 20+ styles, 40+ leathers colors, and two heel heights (2” or 4” at present). Buyers forego traditional sizing in exchange for an individually sized shoe that fits like a glove with no pain, pressure or teetering.
True Gault’s direct-to-consumer business model allows the brand to offer fully custom shoes of the highest quality for $250-$350 – a fraction of what its luxury competitors cost. True Gault proudly 100% guarantees an exceptional, unparalleled fit for unmatched comfort and style that is authentic to – and ultimately created by – the shopper herself.
About Founder & CEO, Sandra Gault
“Fashion should fit you; not the other way around.” The idea emerged as Sandra stood in painful designer heels at a party, realizing that no amount of compliments could make her feel at ease. It was then she vowed that every woman– regardless of age, size, or shape of her feet – deserved a beautiful pair of heels that she could wear all day long, in perfect comfort and confidence. So she channeled her three passions – fashion, business, and technology – into True Gault.
Sandra has over 20 years of experience in building business, leveraging technologies, and leading teams. Her experience at Kodak and IBM Corporation refined her skills in imaging technology to achieve her vision of customizing high-fashion shoes of the highest quality. Before bringing True Gault to life, Sandra pursued an apprenticeship to learn the art of shoe-making, then researched to find the perfect craftsmen and manufacturing facility to support her endeavor.
True Gault is Sandra’s true passion. She never sets foot anywhere without a pair of these true-fit shoes. To date she has taken over 5,626,290 steps, or walked 1,674 miles, in her True Gault shoes.
Republic allows private U.S. companies to seek investments from the general public under the provisions of Title III of the Jumpstart Our Business Startups Act of 2012 (known as the “JOBS Act”). Previously only the wealthiest 3% could invest directly in start-up businesses, leaving remaining funders to simply buy a product or donate money to a company through channels such as Kickstarter or Indiegogo. But this dynamic changed on May 16, 2016 – now private companies can reach a dramatically larger pool of potential independent investors, transforming donors into owners.
Republic is a leading equity crowdfunding platform that makes startup investing available to anyone. It’s the easiest way to become an investor in breakout early-stage startups for as little as $10.
Republic features carefully selected startups with a strong mission, innovative technology and a diverse team.
Republic is a sister company of Product Hunt, CoinList and AngelList – world’s leading family of investment platforms.
About Meet the Drapers
Bill Draper began his venture capital career in 1959 and is one of America’s first venture capitalists. Currently, he is Managing Director of Draper Richards L.P and Draper International. He serves as the Co-Chairman of the Draper Richards Kaplan Foundation. Mr. Draper is also author of the book, The Startup Game: Inside the Partnership between Venture Capitalists and Entrepreneurs.
Bill’s son, Tim Draper has been named one of Worth Magazine’s 100 Most Powerful People in Finance and is the founding partner of Draper Associates and DFJ. His original suggestion to use viral marketing as a method for spreading a software application from customer to customer was instrumental to the success of Hotmail, Skype, and others. Tim also received the World Entrepreneurship Forum’s “Entrepreneur for the World” in 2015.
Tim’s daughter, Jesse Draper followed in the family footsteps, betting big on female founded and led companies through her new venture capital fund Halogen Ventures. Through Halogen Ventures, Jesse spearheads early stage seed investing in female founded consumer technology startups; some of her portfolio companies include: Laurel & Wolf, Move Loot, Carbon38, BlockCypher, Beautycon & Sugarfina.