TrackIf, a provider of online price tracking and intelligent alerting solutions, has raised $5 million in a Series A financing round led by Origin and Grotech Ventures. Chicago Ventures also contributed to the round.
As a result of the financing, Jason Heltzer from Origin Ventures and Lawson DeVries from Grotech Ventures will join the Tracklf Board of Directors.
The TrackIf technology is designed to enable e-Commerce companies to capture purchase intent and send personalized email alerts based on price changes, new item releases and other new developments. To date, TrackIf has sent more than 65 million personalized emails on behalf of its retail clients, according to a company statement. Retailers currently using the technology include: Build.com, Cost Plus World Market, Joie and Last Call by Neiman Marcus.
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Retailers can install TrackIf by placing a line of script on their e-Commerce sites. Consumers then can opt in to receive alerts based on changes for specific products or categories, such as: Price drops, new products added and new reviews added. These alerts provide retailers with detailed intelligence regarding shoppers’ overall intent to buy.
“TrackIf has impressive growth in this new category of customer-centric marketing,” said Heltzer of Origin Ventures. “We believe this new category of marketing will be a must-have capability for any transactional site or mobile app that wants to personalize the consumer experience and maximize revenue-per-customer.”
