This morning, it was announced that the New York, NY-basedTracx, which offers a Cloud-based social media management platform for enterprises, has closed an $18 million Series C round of funding led by Edison Partners. Edison’s investment made up $10 million of the round, with existing investors Flybridge Capital, Mousse Partners, Klingenstein, and Fields & Co contributing the rest.
“Tracx has a great combination of deep social engagement, enterprise software development and analytics expertise. The management team has an impressive track record of not only developing relationships with leading brands, but also helping directly influence the ecosystems surrounding their product and services,” said General Partner at Edison Partners Ryan Ziegler, in a statement. “We’re excited about Tracx’s market opportunity, our partnership will accelerate growth and lead the emerging social enterprise market through innovation that delivers measurable business outcomes.”
This new funding will allow Tracx to make further product innovations, as well as accelerate their ability to expand on a global scale. As part of this round, Edison’s Ziegler has joined the company’s board of directors.
Tracx has tripled the size of its NYC staff and has seen major growth every year. Currently, more than 400 global brands – ranging from consumer packaged goods and retail, to healthcare and consumer electronics – rely on Tracx’s platform to measure and monetize social engagement.