Traackr Raises $9 Million in Series B Funding to Fuel Influencer Marketing Technology for Global Brands
Workhorse Capital and Brandtech group You & Mr Jones Both Invest, Underscoring the Importance of Influencers in Modern Marketing
Traackr, the influencer relationship management platform, announced it has raised $9 million in Series B funding led by Workhorse Capital, with participation from You & Mr Jones and existing investors.
In 2017, 86 percent of marketers reported using influencer marketing, but measuring the ROI of influencer programs was the top challenge facing marketers. Traackr’s data-driven software solution enables global brands to scale influencer programs by consolidating discovery, management and performance analytics all in one system. Through targeted searches and customizable analytics, marketers are able to identify and partner with more relevant influencers to win the hearts and minds of their customers.
“Influencer marketing has become so important today but most businesses are still not approaching it at an enterprise level. That’s what we deliver with Traackr, a technology platform and system of record that allows major global brands to manage, expand, validate and scale their influencer marketing and ultimately deliver a better ROI,” said Pierre-Loïc Assayag, founder and CEO of Traackr.
Global brands such as Microsoft, L’Oreal, SAP, Travelocity, Honda and the Coca-Cola Company already use Traackr to structure and grow their influencer marketing programs across departments and geographies.
“Influencer marketing is one of the key pillars of our digital transformation to build ‘love brands.’ It requires agility and real-time data. The influencer landscape is transforming every day – like the rise of fake followers and inauthentic profiles – which can make analyzing influencer marketing effectiveness increasingly difficult. We trust Traackr’s solution, as their platform provides the real-time intelligence we need to activate beauty influencers who resonate the most with our fans,” said Marc Duquesnoy, Social Media Performance Director, Global CDO Team, L’OREAL Group.
Traackr will use this round to fuel sales, marketing and customer success across the globe, with over 80 percent of current revenue coming from Fortune 1000 companies/industries. Increasing the depth of data and range of platforms covered will also be a priority for Traackr’s product and engineering teams.
“We’re excited about our company building a partnership with the Traackr team. We are drawn to rapidly growing and fiscally disciplined SaaS businesses like Traackr that solve fundamental problems for their customers. We embrace the opportunity to roll up our sleeves, supporting the Traackr team in pursuit of their goals,” said Dave McLean, co-founder and General Partner at Workhorse Capital.
Strategic partner You & Mr Jones, a brandtech group, adds Traackr to its roster of visionary technology company investments – such as the Amplify, Pinterest, Niantic (creator of Pokemon Go), MOFILM, Gyfcat and Zappar – revolutionizing how brands connect with people.
“We’re very big believers in people-powered marketing and in particular the power of influencer marketing. Traackr is unique as they have built a fantastic SaaS platform that makes the discovery, management and measurement of influencer relationships seamless while using data to help quantify the impact of those relationships across the customer journey. They are a great fit with the other influencer businesses in our portfolio, and we’re excited to be part of their journey, ” said David Jones, founder and CEO of You & Mr Jones.
To date, Traackr has raised a total of $14.4 million, including financing from original investors.
“We are very fortunate to have found the team at Workhorse Capital, who understand our customer-focused approach, recognize that we’ve achieved a great deal in a short period of time-and recognize the team’s ability to grow the business exponentially, on a global scale. With the addition of You and Mr Jones as strategic investors, who truly understand the seismic shifts technology is driving in the world of marketing, we feel that we have a group able to take the business to substantial new heights,” said Robbie Vann-Adibé, chairman of the board, Traackr.