Major Funding, Global Expansion Plans for Tracksuit

New Zealand-based brand tracking specialist Tracksuit has announced a $25m Series B funding round, and says it has more than doubled its headcount since its previous round in early 2024, to 150.

Tracksuit was founded in 2021 co-CEOs Matt Herbert (pictured right) and Connor Archbold (left). The firm surveys tens of thousands of people each week, tracking awareness, consideration, preference, and brand sentiment for more than 10,000 brands across representative markets and demographics, as well as benchmarking the brands against their competitors.

The firm has offices in New York, London and Sydney in addition to its Auckland HQ, and says it plans to hire at least 50 more people in the coming year, as well as doubling its coverage to 20,000 brands, and extending tracking across Europe and Asia. It also hints at 'several new product launches expected later this year.'

The funding round was oversubscribed and was led by San Francisco-based VMG Partners, with participation from existing investors Altos Ventures, Footwork, The Icehouse and Blackbird.

'Historically, brand tracking has been expensive, outdated and inaccessible,' says CEO Archbold. We built Tracksuit to change that, giving teams a simple, affordable, and always-on way to measure brand performance.

'When brand data is visible and actionable it drives smarter decisions and stronger performance. Our goal is to bring brand data into every boardroom, and with VMG, we gain a partner who truly understands scaling consumer brands, and their support will be key as we accelerate growth.'

The firm is online at www.gotracksuit.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.