Established in 2021, Tracksuit’s brand tracking platform, based on consumer surveys, offers marketers insights on brand metrics including awareness, usage and preference. The business operates in the US, Canada, UK, Ireland, France, Germany, Australia and New Zealand.

Tracksuit will use a substantial part of the capital to make improvements to its data collection and platform, including adding more consumer categories, extending coverage into new geographies and standardising brand data worldwide.

The investment will also aid Tracksuit’s expansion into additional European markets and Asia. The company recently launched its product in Ireland, France and Germany, with Italy, the Netherlands, Spain and Singapore planned in the year ahead.

The latest funding follows a Series A investment in February last year, in which the company secured $13.5m in a round led by US venture capital firms Altos Ventures and Footwork.

Tracksuit is also forming various partnerships to support creative effectiveness as it looks to position itself against established brand measurement competitors. Recent partnerships have included publishing research with TikTok and JCDecaux and a data and content partnership with the IPA.

Currently tracking 10,000 brands, the company said it plans to double this figure to 20,000 by the end of 2025.

Tracksuit has doubled its headcount since February 2024 and now has 150 employees across New York, London, Sydney and Auckland and is also planning to appoint 50 more staff in the year ahead, with a focus on product, engineering, design and data science roles, the company told Research Live.

Matt Herbert, co-founder and chief executive, Tracksuit, said: “Historically, brand tracking has been costly, outdated, and inaccessible for many businesses. That’s exactly why we built Tracksuit – to give teams a simple, affordable, and always-on way to measure brand performance. When brand data is visible and actionable it drives smarter decisions and stronger performance.

“Our mission is simple: to bring brand data into every boardroom. With VMG, we gain a partner who truly understands scaling consumer brands, and whose expertise and backing will be instrumental as we continue to grow in the US, Europe and beyond.”

Sam Shapiro, partner at VMG Partners, said: “Tracksuit solves one of the hardest problems in marketing – quantifying brand performance in a clear, continuous, and cost-effective way.” 

Pictured: Tracksuit co-founders Connor Archbold and Matt Herbert