Next-generation unified social enterprise platform provider TracX has raised $18 million in Series C financing led by Edison Partners, which is investing $10 million. The proceeds will fuel go-to-market capacity, product innovation and global expansion. Existing investors Flybridge Capital, Mousse Partners, Klingenstein, and Fields & Co also participated in the round.
Edison Partners general partner Ryan Ziegler, who has joined Tracx board of directors, said, "Tracx has a great combination of deep social engagement, enterprise software development and analytics expertise. The management team has an impressive track record of not only developing relationships with leading brands, but also helping directly influence the ecosystems surrounding their product and services."
He added, "We're excited about Tracx's market opportunity, our partnership will accelerate growth and lead the emerging social enterprise market through innovation that delivers measurable business outcomes."
Tracx was founded in 2008 by CEO Eran Gilad Gilad along with Asaf Shtekler VP business, Ofer Fort head of R&D, Niv Singer, CTO and Noam Singer, software engineer. The company has been headquartered in New York since 2012, has an office in London, and maintains its development center in Tel Aviv.
More than 400 of the world's most well-known brands across consumer packaged goods, retail, automotive, financial services, healthcare, and consumer electronics industries rely on Tracx for end-to-end social intelligence, engagement, and monetization. The company's unified, enterprise-grade approach enables brands to tackle the most diverse and complex big data and social media challenges in real time.
Gilad said, "This milestone highlights Tracx's success and opportunity in leading the market with a differentiated and holistic approach to addressing the complexities of the modern social enterprise by capturing a 360-degree view of activity around a brand, product, or ecosystem."
Published by Globes [online], Israel business news - www.globes-online.com - on February 3, 2015
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