TrackR raises $50 million with Series B funding round
Santa Barbara-based TrackR closed a $50 million Series B funding round Aug. 2, led by Steve Murray at Revolution Growth and existing investors like the Amazon Alexa Fund.
The funds will help grow the recently launched TrackR Pixel, which incorporated both sound and light into the company’s personal item tracking portfolio of products. TrackR is also ramping up efforts to integrate with Amazon’s Alexa and Echo speaker products to find belongings using voice commands.
“With this round of funding, we will redefine personal organization by ensuring nothing is ever lost for millions of consumers while continuing to maintain our leadership position in the intelligent tracking space,” co-founder and CEO Chris Herbert said in a news release.
The Works with TrackR program has also continued to grow, allowing other manufacturers and app developers to use the company’s platform.
“The Alexa skill developed by TrackR is an extension of our work with them and has helped make lost phones a thing of the past for our customers,” said Paul Bernard, director of corporate development for the Alexa Fund.
Foundry Group, NTT DOCOMO Ventures, The Glenmede Trust, and Bespoke Strategies also joined the round. Murray joined the TrackR board of advisers as part of the deal.
“The TrackR team has quickly become a leader in its category and on a small amount of invested capital,” he said. “We applaud the team’s strategic approach to building the business and are excited to work with them on this next phase as they look to expand the company with new products, strategic partnerships, and innovative software.”
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