Every day as you are browsing the web, you might not know it but you are being tracked. Every click, every form, every email…tracked. This is especially the case for online retailers as they will follow you from site to site and continue to market to you as your browse. TrackIF reverses this script and allows customers to, instead, track almost anything online and stay aware of key events on certain websites (price drops, price comparison, new items, etc). Power to the people!
Doug Berg founded TrackIF as an “Awareness Engine” in 2013 and since then has seen explosive growth. He has assembled a rock-star team and they are just starting to hit their stride. That’s why we are excited to announce our investment in TrackIF. We participated in a large financing round that included Chicago Ventures, Wisconsin Investment Partners and New Capital Fund just to name a few.
The secret sauce for TrackIF is that they are not only a useful front-end tool for consumers to track items online, they also provide an enterprise solution for online retailers. When a customer begins to track an item, they are signally an intent to purchase. This information is very valuable to retailers as they can then micro-target customers via market channels and hopeful convert them. TrackIF’s technology can even be embedded into existing websites as a white-label tracking tool.
We made this investment based on TrackIF’s “useful on the front, valuable on the backend” business model, impressive traction to date, and Doug’s drive and experience as an entrepreneur (see Jobs2Web). Online retailers are always playing on tight margins as the competition is high. TrackIF is well positioned to take provide an edge to these retailers that can truly transform their marketing efforts.
Ryan met Doug via mutual friends over a year ago. After a couple of discussions and a few more introductions, it became clear that Doug and his team were going somewhere great. We’re excited for TrackIF’s future prospects with this team at the helm.
Welcome Doug, Paul, Eric, and Tom and the entire TrackIF team to the Confluence Crew!