Tracx Announces $12.5 Million Growth Equity Funding Round for Continued Product Innovation & Expansion
January 4, 2017
Tracx is excited to announce today it closed a $12.5 million funding round led by Camden Partners, with participation by Edison Partners and Tracx CEO Rick Rudman. The funds will be used to support continued sales and marketing growth, as well as an expanded product footprint.
Tracx’s social media management software is an industry-leader for its social listening and analytics capabilities — offering the largest social network coverage and conversation monitoring — while providing an all-in-one solution for reaping social’s full ROI potential.
“We’re thrilled about our growth equity investment in Tracx, and supporting their continued innovation and market leadership,” said Jason Tagler, Partner at Camden Partners who will join the Board of Directors as part of this round. “The caliber of the executive team and other investment partners is second to none —we believe they’re well equipped to take advantage of the large and rapidly growing social media space.”
With spending in the social media space expected to reach $25 billion by 2020, Tracx CEO Rick Rudman is optimistic about the company’s future opportunities. “We are uniquely positioned with the most comprehensive listening and analytics tool, seamlessly integrated with engagement and cross-network posting,” said Rudman. “Our customers are uncovering crucial insights about their business, products, influencers and industry trends on social using our platform.”
Tracx is expected to double new sales in 2017 and reach cash-flow positive on this round of funding. The company was recently listed on Deloitte Technology’s Fast 500 for its 262% growth from 2012-2015; and was named a Top 100 North America Winner for Technology Innovation by Red Herring.
Tracx is an all-in-one social media management platform that helps social-savvy companies hear and react to the full conversation online. Tracx collects data from more sources than any other social listening platform, which is why companies like Sears, EA Games, Nestle, and BAE trust Tracx to help them navigate the social jungle.
About Camden Partners
Camden Partners, founded in 1995, is a multi-strategy private equity firm based in Baltimore, MD. This investment was made through its growth-equity strategy, which focuses on late-stage companies in the technology, business services, education, and healthcare sectors. For more information, please go to: http://www.camdenpartners.com.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of growth capital and the Edison Edge platform, consisting of operating leverage, the Edison Director Network, and executive education, Edison employs a holistic approach to accelerating growth and creating value for businesses ($5 to $20 million in revenue) in financial, healthcare, enterprise and marketing technology sectors. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $10 billion. Its long-tenured team based in Princeton, NJ manages more than $1 billion in assets throughout the eastern United States.
This release originally appeared on PR Web.