Brand-tracking startup Tracksuit backed by Mark Ritson and Canva investor in $6.8m seed round
Brand-tracking startup Tracksuit has received a $6.8 million seed funding round led by Blackbird (also an investor in Canva) with $3.6 million, alongside Icehouse Ventures, Ascential, Shasta Ventures and Mark Ritson.
The round marks Tracksuit’s first external investment since it was founded in 2021. It offers a measurement platform based on improved market research models, giving marketers insight into their brand health.
The company boasts a current client roster including Heaps Normal, Eucalyptus, Bondi Sands and Disney+.
L-R: Matt Herbert and Connor Archbold
Tracksuit’s co-founder, Connor Archbold, said: “Our vision is for Tracksuit to be used in every strategic growth conversation for the best consumer brands of today and tomorrow. We exist to be the common language to measure, understand and communicate the value of brand building.”
Archbold was joined in the venture by his business partner, Matt Herbert. They established Tracksuit in partnership with TRA Labs, the venture studio arm of insights agency TRA, and innovation and venture studio Previously Unavailable.
Herbert said: “When we started Tracksuit 20 months ago, we built a cash-flow positive, bootstrapped business. When the demand for our product skyrocketed, we went into investor conversations with confidence knowing we had the backing of an incredible team and strong metrics.
“The level of immediate demand for Tracksuit is indicative of the shift in consumer businesses, who are focusing less on immediate conversion and more on building long-term growth through highly effective, creative marketing.”
Tracksuit now has 20 full-time employees across its office. With the latest funding, it looks to venture into new markets.
Principal at Blackbird, Phoebe Harrop, said: “Strong brands are the difference between good companies and great companies – whether they’re selling physical products or software.
“We’re delighted to partner with the Tracksuit team as they empower marketers across the globe with their product and create a new category of data-driven brand awareness.”
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