Tracksuit raises $5M to make brand tracking more accessible

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Tracksuit, a New Zealand-based marque search startup, wants to return connected accepted marketplace investigation players by offering a much affordable, accessible marque insights tool.

“Market investigation and marque search has been astir for a agelong time, and it usually consists of a advisor coming successful connected a quarterly aliases biannual ground pinch a 100-page descent platform and a batch of analyzable information that looks down not forward,” Matt Herbert, co-founder and co-CEO of Tracksuit, told TechCrunch, noting that astir marketplace investigation services person been reserved for enterprise-level companies, leaving smaller and mid-sized companies pinch little entree to specified insights.

“With Tracksuit, we wanted to make an affordable, always-on, easy-to-use measurement of accessing these insights.”

Tracksuit launched successful 2021 pinch an intuitive dashboard that tracks metrics for illustration marque awareness, consideration, penchant and usage, and measures them against a company’s competitory set. It’s a software-as-a-service merchandise pinch a level interest that Herbert says is 10x cheaper than nan existent standard.

Tracksuit’s instrumentality now tracks insights for much than 1,300 brands crossed New Zealand, Australia, nan United Kingdom and, astir recently, nan United States. The institution precocious closed $5 cardinal successful its first outer round, and will usage nan money to grow further into nan U.S. market. Tracksuit made its first prosecute successful New York City successful November, and is building a 10-person squad location to support description .

The round, led by Blackbird, besides included information from Shasta Ventures, Icehouse Ventures, Ascential and marque advisor Mark Ritson.

“Strong brands are nan quality betwixt bully companies and awesome companies – whether they’re trading beingness products aliases software,” said Phoebe Harrop, a partner astatine Blackbird, successful a statement. “The magic of Tracksuit is giving companies crossed each manufacture a communal connection for measuring, talking astir and investing successful marque health.”

“A communal language.” That’s what Herbert told TechCrunch Tracksuit is trying to execute — a modular for evaluating, knowing and communicating nan worth of brands.

The startup is targeting mid-sized, increasing user brands crossed nutrient and beverage, FMCG (fast-moving user goods), retail, direct-to-consumer and financial services. Herbert said half of its customers travel from nan existing marque search market, but nan different half is simply a caller conception wholly that has antecedently not been served by nan marketplace investigation industry. Some cardinal customers coming see Made by Nacho, Charity: Water and Athletic Brewing Company.

Herbert says nan beardown request for nan company’s merchandise suggests a displacement successful really user businesses attack marketing. They’re focused “less connected contiguous conversion and much connected building semipermanent maturation done highly effective, imaginative marketing,” he said.

Tracksuit gathers insights by surveying target customers astir nan globe. It uses those surveys to group up a brand’s fundamentals: What’s nan full addressable market? How good is nan marque known, really good is it considered, wherever is it astir preferred? What do group really deliberation and consciousness astir nan brand, and really does that displacement complete time?

From there, Tracksuit goes deeper.

“Each marque will person strategical pillars aliases worth propositions that they want to own, truthful we thief those brands way really good they are performing against those marque pillars and really good their comms and advertizing and trading is shifting nan needle connected those perceptions and attributes for nan consumer,” said Herbert, arsenic he showed maine a demo of Tracksuit’s “unprompted imagery” feature, a connection unreality that shows which words travel to mind for a circumstantial brand, positioned adjacent to a akin connection unreality for that brand’s biggest competitor.

All of these insights thief brands inquire nan large mobility of What’s nan occupation to beryllium done? It’s difficult to waste to personification who hasn’t heard of your brand, truthful possibly Tracksuit’s insights could thief a marque study that it has to summation consciousness earlier thing else.

“What is nan opportunity to turn and wherever should that beryllium focused successful your advertising, communications and trading strategy?” said Herbert.

Editor: Naga

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