Investments
23Portfolio Exits
4Funds
4About Progress Ventures
Progress Ventures focuses exclusively on the burgeoning markets in media and marketing technology. We partner with experienced entrepreneurs and commit capital to promising start-ups seeking to become active and integral pieces of the digital advertising and content ecosystem.

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Latest Progress Ventures News
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.”
Progress Ventures Investments
23 Investments
Progress Ventures has made 23 investments. Their latest investment was in Tracer as part of their Series A - II on August 8, 2023.

Progress Ventures Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
8/10/2023 | Series A - II | Tracer | $18.1M | No | 2 | |
2/13/2023 | Series A | Tracer | $9M | Yes | 3 | |
7/26/2022 | Series C | Sovrn | $36M | Yes | Archer Venture Partners, Foundry, Lexington Partners, Progress Ventures, Structural Capital, and Undisclosed Investors | 4 |
6/13/2022 | Series A - II | |||||
6/30/2021 | Series A - II |
Date | 8/10/2023 | 2/13/2023 | 7/26/2022 | 6/13/2022 | 6/30/2021 |
---|---|---|---|---|---|
Round | Series A - II | Series A | Series C | Series A - II | Series A - II |
Company | Tracer | Tracer | Sovrn | ||
Amount | $18.1M | $9M | $36M | ||
New? | No | Yes | Yes | ||
Co-Investors | Archer Venture Partners, Foundry, Lexington Partners, Progress Ventures, Structural Capital, and Undisclosed Investors | ||||
Sources | 2 | 3 | 4 |
Progress Ventures Portfolio Exits
4 Portfolio Exits
Progress Ventures has 4 portfolio exits. Their latest portfolio exit was Disruptel on November 04, 2022.
Progress Ventures Fund History
4 Fund Histories
Progress Ventures has 4 funds, including Progress Ventures Fund 4.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
3/4/2021 | Progress Ventures Fund 4 | $28M | 2 | ||
10/20/2015 | Progress Ventures Fund III | ||||
12/31/2013 | Progress Ventures Fund II | ||||
TWG Media Fund |
Closing Date | 3/4/2021 | 10/20/2015 | 12/31/2013 | |
---|---|---|---|---|
Fund | Progress Ventures Fund 4 | Progress Ventures Fund III | Progress Ventures Fund II | TWG Media Fund |
Fund Type | ||||
Status | ||||
Amount | $28M | |||
Sources | 2 |
Progress Ventures Team
7 Team Members
Progress Ventures has 7 team members, including current Chief Financial Officer, charlie Bridge.
Name | Work History | Title | Status |
---|---|---|---|
charlie Bridge | Chief Financial Officer | Current | |
Name | charlie Bridge | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Chief Financial Officer | ||||
Status | Current |