Santa Barbara, CA, July 14, 2020 (GLOBE NEWSWIRE) -- Today, TrackStreet – the leading brand protection Software as a Service (SaaS) platform – announced that it has closed an oversubscribed Seed-2 funding round. Led by Okapi Capital, TrackStreet raised $5.1 million USD in this round, including investments from a number of venture capital, family office, and notable technology investors including The Cove Fund, Early Light Ventures, SaaS Venture Capital, and Stage Venture Partners and Brad Perry (co-founder of Dealer Socket), amongst others.
As the only multi-solution platform in the brand protection space, TrackStreet leverages artificial intelligence and automation technologies to relentlessly monitor and reduce brand, MAP, and resale pricing violations, enabling explosive multi-channel growth for many of the most recognizable and respected brands across a wide gamut of industries. TrackStreet has a large and diverse customer base across numerous vertical industries, ranging from leading brands such Domestic, Mercury Marine, Smuckers, The Weyco Group, and Zeiss.
TrackStreet will invest its newly raised capital to further enhance next generation brand protection technologies and the acceleration of go-to-market strategies, all driven by proprietary artificial intelligence and automation technologies.
“I couldn’t be more excited about this next stage in our development as the market-leading brand protection technology platform,” stated Andrew Schydlowsky, TrackStreet Founder and CEO. “The need for intelligent and automated digital shelf management solutions is being accelerated by the rapid shift of retail sales to the Internet channel. This influx of capital will fuel additional investment in our dynamic AI-based platform, and a powerful data driven approach to driving value for partners. More than just capital, with the addition of these new investors to our extended team, we’re adding an incredible amount of game-changing marketing, sales and SaaS experience to an already world-class group of investors, which will enable us to build better product and deliver more mission-critical solutions to our partners as we aggressively expand our market.”
Using an award-winning three-tiered approach of protect, assess, and grow, TrackStreet helps agencies, product manufacturers, and brands of all sizes gain unprecedented visibility and control over their online sales channel via a user-friendly dashboard and customized automated enforcement system.
In doing so, TrackStreet helps protect brand reputation and grow sales across both online and offline authorized resellers, by ensuring that products are being sold at the right price points and sales locations, only by approved partners, and with accurate brand messaging.
“Now more than ever, brands are feeling the pain of the lack of visibility and control over how their products are sold on ever-expanding and dynamic eCommerce marketplaces. We are very proud of the AI-driven tech Andrew and the TrackStreet team have built to empower brands for the rapidly growing next phase of eCommerce growth,” stated Jeff Bocan, Partner at Okapi Venture Capital.
“Offering analytics and insights that span all internet marketplaces and eCommerce sites, TrackStreet empowers valuable brands with the knowledge, tools, and support they need to increase their profit margins, retain market control, and create a true competitive advantage,” added Seth Greenberg, ex CMO of Alteryx and Lifelock, Marketing Leader at Intuit (Quickbooks & TurboTax brand), and TrackStreet investor. This funding round will help TrackStreet accelerate exciting growth and continue to provide peace of mind as the leading brand protection platform.”
About TrackStreet
A market leader in brand protection, TrackStreet monitors what’s happening with brands and their products across the world of e-commerce, and delivers actionable market data that strengthens customer relationships, drives sales, protects authorized resellers and brick and mortars, and builds the bottom line.
Our clients use our technology to:
• Gain unprecedented visibility and deep insights into their online markets (who's selling which products and where, for how much, and how that their channel changes over time)
• Gauge market opportunities for new products and brands (based on actual sale velocities on marketplaces like Amazon.com)
• Manage and enforce MAP, Authorized Dealer programs, and resale policies
• Understand market feedback and catch product issues before they damage their brand’s public perception
• Manage and incent Authorized Dealer Networks
• Increase profitable sales across online and offline sales channels