Tracksuit’s Times Square takeover: Global growth figures revealed after $42m raise
The brand measurement software provider Tracksuit has grown its United States-based division by 260% in the past year, landing clients such as retailers Steve Madden and The Real Real.
“We’re more than doubling every year,” Tracksuit co-founder and co-CEO Connor Archbold told Markets with Madison.
“We’re starting to crank into bigger and bigger companies.”
The company just raised US$25 million ($42m) and was signing multi-year long deals with enterprises around the world, Archbold revealed.
To celebrate the milestone, its New York-based team had their faces plastered on a billboard in the epicentre of advertising, Times Square in New York.
The billboard read: “Look mom, I made it to Times Square!”
Tracksuit currently tracked 10,000 brands, however it was receiving requests from customers to track content creators, influencers and other businesses, according to Archbold, suggesting it still had plenty of areas to expand its product offering into.
“Half of what we see is people using Tracksuit only once or twice a year. For about the same cost, they can get it all the time,” co-founder and co-CEO Matthew Herbert added.
“The second piece is around brands and businesses who have never done brand-tracking, but brand is becoming such an important part in long-term sustained business growth, more attention is coming on.”
In this episode above, Markets with Madison visits the Tracksuit team in New York and talks to the co-founders from London to discuss how it’s making marketing matter at the board table amid an AI advertising shift.
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Disclaimer: The information provided in this programme is of a general nature and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.
Madison Malone (nee Reidy) is host and executive producer of the investment show Markets with Madison. She joined the Herald in 2022 after working in investment, and has covered business and economics for television and radio broadcasters.