Aug 15, 2023

US – Data intelligence platform provider Tracer has closed an $18.1m Series A funding round led by NewRoad Capital Partners, Progress Ventures and BDMI, part of Bertelsmann Investments. The funding will be used to help expand Tracer’s services, with S4S Ventures and Arbour Way Investors also participating in the Series A funding round. Following the closure of the funding round, John Sheehy, operating partner at NewRoad Capital Partners, will join Tracer’s board of directors. Adriaan Zur Muhlen, managing partner at Progress Ventures, Sanja Partalo, co-founder and managing partner at S4S Ventures and Keith Titan, partner at BDMI, have also joined Tracer’s board. Tracer, which has offices in London and New York, was incubated out of VaynerMedia in 2015 by co-founders Jeffrey Nicholson and Leighton Welch, with Tracer becoming an independent company in 2021 with the two serving as chief executive and chief technology officer, respectively. Nicholson said: “In a challenging funding and growth landscape, we are humbled by the confidence our investors have in our potential. “This oversubscribed round is a testament to the value we’ve proven our platform can deliver, and we look forward to working with John [Sheehy], our board and the industry giants who have joined as investors to catapult Tracer forward.”