Data analytics software company Tracer in June announced a $9.9 million seed funding round led by big names like former Walmart and Amazon exec Marc Lore and NBA star Kevin Durant's firm Thirty Five Ventures.
The company started in 2015 as a unit of Gary Vaynerchuk's ad agency VaynerMedia. Tracer is a software platform that automatically collects and organize data that isn't personally identifiable. It also offers free consulting services.
Tracer CEO Jeffrey Nicholson said he pitched the idea to Vaynerchuk and it operated in stealth mode for three years before spinning off in 2018.
Vaynerchuk introduced the company's principals to investors he knew and advised Tracer on tailoring its presentation to them. For example, he suggested wooing Lore with data and emphasizing top-line growth and big-name clients when pitching Brett Yormark, co-CEO of Jay-Z's sports agency Roc Nation United. Yormark later joined the seed round.
Below is Tracer's fundraising deck.
Tracer pitches its partnership between founders Jeffrey Nicholson and Leighton Welch and key backer Gary Vaynerchuk.
Tracer's pitch is that brands have an increasing need for data services.
Tracer positioned its consulting services as a way to give clients more value. It plans to add more products and charge additional fees for consulting.
Tracer says its team collaborates with clients' marketing departments.
Tracer also touts how it can work within companies' tech stacks.
Tracer said it tracked more than $1 billion in ad spending while part of VaynerMedia.
The company promotes its employees' experience working for tech giants like Roku, Pinterest, and Spotify.
Tracer compares itself to products like Salesforce's Tableau and Google's Looker while calling its top competitor Microsoft Excel.
Tracer says it helped run the first global campaign on Snap's API in 2016.
