TrackIf, the Web Awareness Engine, Raises $3 Million to Fuel Member Growth and to Launch Business and Advertising Solutions
Not just another price watching/comparison tool, TrackIf is an every-day personal web utility that keeps users aware of what they want online.
MINNEAPOLIS, Minn., April 3, 2014-- TrackIf, the search and shopping awareness engine, today announced it has raised an additional $3 million in debt funding from new and existing angel investors, and by venture funds including Chicago Ventures, Wisconsin Investment Partners, New Capital Fund and Confluence Capital.
Led by Minneapolis-based entrepreneur Doug Berg, who founded other successful web-based startups such as Jobs2web (purchased by SAP for $110 million) and techies.com, TrackIf provides a free service that allows users to track anything they want on the web, helping to capture users’ interests and keeping them aware of key events they want to monitor online using a single private account.
Not just another price watching/comparison tool, TrackIf is also an every-day web utility that keeps users aware of what they want online. Whether they are waiting for that hot dress to go on sale, hunting for a new car across several auto sites, seeing if their dream home becomes more affordable, wanting to know when it’s time to buy or sell their stocks, keeping an eye on the job market, watching for where any new hot product is available, or keeping an eye out for the best travel deals.
TrackIf puts watching the web on autopilot and keeps users aware of anything they are tracking online through a single site, which helps keep their personal information in their control and reduces the amount of spam and unwanted marketing most people receive.
“People are busy and don’t have a tool that can keep them aware of their exact interests across the web,” said Berg, who is the founder and CEO of TrackIf. “TrackIf allows them to track ‘if’ the things they want to monitor change online, alerting them so they can use the web smarter every day.”
The site features Pinterest-like capabilities -- but also provides full alerting and in-depth intelligence around tracked items for a more robust experience than simply sharing pictures of items. TrackIf.com users can not only search what others are tracking based on any item’s popularity, but are powered with information about the optimal time to buy products tracked through price history tracking of 600,000 products at thousands of shopping sites, including Amazon, Wal-Mart, Target, Best Buy and others. TrackIf also features a browser plugin, which allows users to instantly track anything they see while browsing sites online such as products, saved searches, out-of-stock items, etc; and TrackIf offers mobile applications, which allows users to manage their trackers and access the product price history for any product on their mobile phone.
The site launched in June of 2013 and already has more than 350,000 users who are tracking over 1 million things online worth over $500 million in items they intend to purchase in the future.
The TrackIf service sends out more than $8 million in price drops each month to its users, who receive email alerts when the items they want drop in price.
Aside from benefiting the consumer, TrackIf also provides valuable retail site integration capabilities to empower them to drive sales, including easy-to-integrate branded tools to help capture purchase intent, out-of-stock tracking, and new item alerts, which creates a highly personalized experience for site users. In addition, TrackIf automates the re-marketing of users to retail sites based on the items users are tracking, which drives higher repeat visitor rates, increases revenues, and cuts online marketing costs substantially, while also providing sites with intelligence about the future purchase interest of their online visitors.
TrackIf is planning to launch its advertising and market intelligence solutions for advertisers mid 2014, which will provide powerful resources to retailers, brands, and anyone seeking to target users based on products, sites, or to understand behavior of users online.
In addition to raising these funds, TrackIf also added strategic board members including Stuart Larkins with Chicago Ventures and Dan Frawley with Corporate Executive Board. Both have extensive experience in the digital media/advertising industry and will help guide the strategic vision and execution of the business.
TrackIf is an awareness engine that helps capture intent and provides automated alerting technology to its consumer users, business users and advertising users. TrackIf is based in Minneapolis, MN and is a privately held business backed by top technology angels and web oriented funds. To learn more about TrackIf visit the website at trackif.com.
Name: Molly Hughson
Venture Capital Database