Data intelligence platform Tracer announced a new president to lead the company and a funding round to power the company’s growth. Here are the key details.
What Happened: Tracer announced Obele Brown-West has been appointed as the first president of the company. The company also announced a Series A funding round that brings new investors alongside existing names like Gary Vee.
Brown-West will lead strategic growth initiatives for Tracer in the new role, bringing over 20 years of experience to the company. Brown-West will create value for employees, customers and shareholders while overseeing all revenue and operations activities.
The new president will oversee Tracer’s first marketing and sales capabilities. Brown-West is a 2022 Adweek Media All-Star and 2022 Ad Age Leading Woman, who previously led the more than 800 media, lifestyle, commerce and creative specialists as chief solutions officer for Tinuiti.
At Tinuiti, Brown-West managed over $3 billion in media spend and helped the company become the first independent marketing agency to win Microsoft’s Global Agency of the Year award.
Brown-West told Benzinga she was attracted to Tracer due to its talent, expertise, innovation, collaboration and success.
“Jeff and Leighton’s vision and guidance have been instrumental in positioning Tracer as a pioneering force in data intelligence. Their steadfast commitment to scaling the company fuels confidence in the bright future of Tracer,” Brown-West told Benzinga of Tracer co-founders Jeff Nicholson and Leighton Welch.
Nicholson, who serves as the CEO, told Benzinga that Brown-West will help scale the company and push Tracer to be a market leader.
“The appointment of Obele sets the stage for the next level of growth and success. With her understanding of the technical complexities brands and agencies face, Obele will help scale our operations and drive value for employees, customers and shareholders,” Nicholson told Benzinga.
Tracer empowers brands to analyze performance through data while removing friction along the way. The company works with global brands, data partners and agencies. The company offers cross-platform data and solutions for companies, including automated reporting and analytics.
“I was impressed by Tracer’s ability to drive value and insights regardless of where a business is on its data journey by harnessing the power of data,” Brown-West said. “Tracer stands out as the only one effectively addressing the technical complexities that brands encounter in today’s reporting ecosystem.”
“Tracer’s enterprise solution serves as a centralized, single source of truth for key brands and agencies,” Brown-West told Benzinga. “By consolidating data from various sources, Tracer enables businesses to have a comprehensive view of their data landscape by eliminating the complexity of dealing with fragmented data and providing a clear and accurate picture of performance.”
Brown-West added that Tracer goes beyond just aggregating data and allows brands to “analyze performance within the context of what truly matters to their business.”
“The technology is data agnostic and we are able to receive inputs from every stack and deliver outputs to any platform of choice.”
Clients for Tracer include Conde Nast, Headspace, January Digital, Media.Monks, Sanofi and VaynerMedia.
Brown-West added that Tracer’s work with Sanofi won a 2022 ANA Genius Award for Marketing Analytics Storytelling.
The new president of Tracer told Benzinga she is focused on expanding the company’s sales efforts to reach new markets and acquire new customers.
“Tracer aims to increase its market penetration by establishing a dedicated sales team and building strong relationships with potential clients.”
Related Link: Gary Vee Warns AI And ChatGPT Could Take Jobs, Why He Thinks That's Okay And How It's Similar To Tractors
New Funding Round and Investors: Alongside the announcement of Brown-West as the president of Tracer, the company announced a Series A funding round led by Progress Ventures and BDMI, the venture arm of Bertelsmann Investments. Venture capital firm S4S Ventures and Arbour Way Investors also invested in the round.
“Tracer’s oversubscribed funding round is a testament to the company’s future,” Brown-West told Benzinga. “We are immensely grateful for the support and confidence shown by our investors. Their decision to invest in Tracer underscores their recognition and impact on the market.”
The new investors join a list of investors that includes Alex Rodriguez and Marc Lore’s VCP Ventures, Kevin Durant and Rich Kleiman’s Thirty Five Ventures, Stephen Ross and Matt Higgins’ RSE Ventures and Gary Vee.
“We at VCP Ventures are proud to see other investors recognize Tracer’s opportunity to become a billion-dollar company and congratulate them on completing their Series A round,” Rodriguez said.
Lore highlighted the growth of Tracer and its client base.
“We perceive an unparalleled investment opportunity with Tracer through our persistent trust in the capabilities of this world-class team and the relentless pursuit of their vision,” Lore said.
Tracer was incubated under Vee’s VaynerX before it was launched in 2018.
Brown-West tells Benzinga that the funding will help the company’s expansion efforts, establishing a sales team, enhancing client success resources, and to scale the company’s technology.
“With the backing of our investors and confidence in our future, Tracer is well positioned to achieve continued success and make a significant impact in the market.”
Brown-West said the new investors are pivotal to helping push the company forward, bringing financial resources, a vote of confidence and more to the company.
“Beyond capital, they bring valuable industry knowledge, strategic insights, and extensive networks that can further accelerate Tracer’s growth trajectory.”
Read Next: Matt Higgins On Stage At VeeCon 2023: How To Think About AI, Win Long Term
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
