Tracx Series B Adds $3.5M for Global Expansion and Launch of Innovative Social Leads Platform: Extracting Sales Leads from Social Media Using Social Leads, brands can track revenue and customer leads directly from social media interaction
NEW YORK, March 8, 2013 /PRNewswire/ -- Tracx, which makes a suite of powerful software tools that enable enterprises to leverage social media's untapped potential across the enterprise, announced today that it has closed an additional $3.5 million in funding to launch its innovative Social Leads product and expand globally. Tracx Social Leads allows businesses to identify and engage with prospective customers based on intent identified across multiple social media platforms.
Previous tracx investor, Flybridge Capital Partners, led this latest round of funding alongside other early investors, Revel Partners and Rutledge Partners.
"Sorting through and acting on the immense amount of data that is being produced over social media channels by their audiences is a big problem for enterprises- and that is an opportunity for tracx," said Jeffrey Bussgang, General Partner with Flybridge Capitol Partners. "Tracx mines social conversations to shine a light on where there really is business opportunity or where there are storm clouds so enterprises can act. CEO Eran Gilad and the tracx team have done a fantastic job building the company and product since we first invested, and we look forward to continuing to work with them as they roll out a truly game changing business intelligence solution for social media."
Tracx will use the funds to roll out Social Leads globally, now in final beta, with an expected launch next month. Tracx Social Leads helps businesses directly tie sales leads to social outreach: it automatically organizes prospects according to where they are in the buying process (e.g. initial awareness, researching, purchasing, or brand loyalty from previous transactions). Sales professionals and social marketers won't just be given a static report, but an instantaneous ability to jump into a specific social conversation, interact with that person and potentially win over a new customer.
"Enterprises are seeking a way to tie revenue directly to social program investments," said tracx CEO Eran Gilad. "We want to take social out of its silo and generate the metrics that show a return on investment for every part of the enterprise – and sales is the next mountain we've chosen to tackle."
Currently, more than 250 businesses worldwide entrust their social media management and analytics to tracx. In 2012, tracx's revenues quadrupled from the prior year and tracx doubled its staff to better support its rapid growth.
Tracx is a software-based platform that takes social out of its echo chamber and incorporates it in the form of powerful, easy-to-use tools for the enterprise. Anyone in the enterprise can filter and customize the data they get from tracx, in real time. All of tracx's tools work together, as well as independently, to serve the various needs in a business or enterprise: not only the obvious marketing and customer support, but also, sales, public relations, customer insights and product management. Tracx integrates with tools and applications enterprises are already using -- including Facebook Insights, Google Analytics, and Omniture. Tracx also integrates with LivePerson, a customer service platform and will be adding additional enterprise applications such as customer relationship management (CRM).
Social Leads will employ tracx's newly developed Geo Heat Map technology to locate "hot spots" for brand conversations, both good and bad. The location analytics can pinpoint social conversation at the country, state, street, and even down to the brick and mortar store – a feature especially useful for tracx's retail clients.
Tracx is a unified social media intelligence platform and social media management system (SMMS) that allows enterprises to manage, share and extract actionable insights, threats and opportunities from the social web — in real time. Nearly 250 brands in the US, Europe and Middle East already rely on tracx to extract deeper business insights from social conversations.
More information about tracx is available at http://www.tracx.com.
Erin Collopy, tracx, email@example.com, 646-448-5313
Jennifer Shanks, LEAP Public Relations, firstname.lastname@example.org, 831-334-0489
Merredith Branscombe, LEAP Public Relations, email@example.com, 720-235-7363