|[November 08, 2017]
TrackStreet Raises $2 Million in Seed Funding Led by Okapi Capital
the automated SaaS (News - Alert)-based eCommerce monitoring platform that give brands
and manufacturers unprecedented visibility and control over how and
where their products are sold online, today announced that the company
has raised $2 million in Seed funding led by Okapi Capital. TrackStreet
will leverage the funding to further develop its proprietary AI-based
technology, extend its marketplace analytics and automated brand
protection platform and accelerate market momentum. Additional investors
that participated in this funding round include Stage Venture Partners,
SaaS Capital and several angel investors, including successful
eCommerce-related company founders, CEOs and executives.
"Manufacturers that sell through resellers and fail to effectively
protect their brands online are facing the threat of extinction. They're
stuck in a vicious cycle and a 'race to the bottom' on price," said
Andrew Schydlowsky, TrackStreet's Founder and Chief Executive Officer.
"The ubiquity of the Internet means that any price differences between
online sellers and brick and mortar retailers are instantly obvious to
consumers and can cost companies millions in reduced profit margin while
negatively disrupting sales channels."
Many brands have responded to eroding margins by implementing price
policies designed to preserve brand value and protect authorized
dealers. But constantly combing the vastness of the Internet - including
major marketplaces like Amazon and eBay (News - Alert) - to detect policy violations
and to enforce policies across non-compliant, and, in some cases,
anonymous online resellers seems like an impossible task. That is where
TrackStreet comes in.
The TrackStreet brand protection and growth platforms have been the
backbone of Minimum Advertised Price, Unilateral Price Policy, and
Minimum Resale Policy enforcement efforts for well over 100 brands,
including Deckers Brands, K&N Engineering, Smith Optics and Sig Sauer.
"TrackStreet has been pivotal to our brand protection program.
TrackStreet has allowed us to monitor and better enforce our Minimum
Advertised Price Policy. We get a real-time view of where violations are
happening, and the entire process of enforcement is more streamlined,"
said Lisa Bereda, Assistant General Counsel, Brands and Corporate
Governance at Deckers Brands, a TrackStreet client.
"We are very excted about our investment in TrackStreet because they
have built the best solution available for a massive problem that is
growing larger and more acute by the day for any company that is
utilizing eCommerce channels to sell their products - which is just
about everyone," said Jeff Bocan, Partner at Okapi Capital.
"TrackStreet's customers are armed with an almost omniscient view of
dealer behavior through TrackStreet's easy-to-use interface. Companies
can automate enforcement activities that produce rapid and substantial
reductions in policy violations within a very short time. TrackStreet's
SaaS solution saves customers big bucks in operating expenses and is an
essential margin-erosion prevention tool for manufacturers with products
Brett Queener, former EVP and GM of Marketing Cloud at Salesforce.com (News - Alert)
and a TrackStreet investor and advisor, spoke highly of the company's
future prospects. "TrackStreet is building steady momentum in acquiring
and retaining customers who love the market data that they now have
access to and who are using TrackStreet's solution to save time and
money enforcing their brand protection programs," said Queener.
"TrackStreet is winning customers away from competitors who want an
easier-to-use and technically superior eCommerce monitoring platform."
"We are incredibly excited to welcome Okapi along with our all-star
group of investors to the TrackStreet team," said Andrew Schydlowsky,
CEO of TrackStreet. "With this additional financing, we can continue to
invest in our market-leading automation and AI technology, while we also
scale our sales, marketing and product development to build a platform
that protects and grows the best brands in the world."
TrackStreet is a leading provider of SaaS-based brand protection and
expansion technologies used by over 100 brands to protect brand value,
enforce distribution policies and increase channel sales. As the retail
landscape shifts and online sales continue to grow at a record pace,
brands are faced with the challenge of minimizing channel conflict and
implementing omni-channel strategies that drive sales through value
added resellers who grow brand value. Brands use TrackStreet to track
reseller activity across an ever-increasing volume of eCommerce websites
and online marketplaces, including Amazon, eBay, Walmart and more.
Built upon a sophisticated technology stack, TrackStreet ingests data
from more than a quarter of a billion eCommerce-related Web pages per
day. Using its proprietary AI (Artificial Intelligence) systems,
TrackStreet compares this data to the brand's established policies, to
provide up-to-date market visibility data on the distribution of product
sales across the Internet. TrackStreet then acts upon the data in
accordance with the brand's policies to automate detection and
enforcement of price policy (MRP, MAP, UPP) violations, track product
reviews and enforce a range of brand protection policies at scale.
Through TrackStreet, customers can also access detailed analytics about
reseller sales and inventory across the Internet and manage resellers
through a fully integrated dealer portal, authorized dealer badging
solution and TrackStreet Content Everywhere™, which dynamically updates
the brand's product web content across authorized eCommerce partner
networks, so information is always accurate and up-to-date.
TrackStreet's office is located in Santa Barbara, California. For more
information, please visit:
About Okapi Capital
Okapi provides long-term capital and management support to startups and
early-stage companies. Okapi takes pride in partnering with
exceptionally talented entrepreneurs and operational executives to
develop their emerging businesses. Okapi invests in early-stage
technology-driven companies with a particular emphasis on Southern
California startups in the greater Los Angeles, Orange (News - Alert) County and San
Diego regions. Okapi's current portfolio includes: CrowdStrike, Welltok,
BabyList, SpecRight, Obalon, and Chromacode; amongst many others. Some
of Okapi's previous investments include: Connectifier, SignNow,
Transaction Wireless and Helixis. Okapi Capital's office is in Laguna
Beach, CA (News - Alert). For more information, please visit: www.okapivc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171108005191/en/
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