Triple, triple, double: Tracksuit's rapid ARR growth
Fiona Rotherham at the NBR asks why the brand tracking platform is the kiwi startup everyone is raving about.
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Tracksuit's Rapid Global Expansion Fuelled by Demand for Accessible Brand Tracking: Brand tracking platform Tracksuit is accelerating its global expansion as its annual recurring revenue (ARR) grows rapidly. Founded in 2021, Tracksuit tripled ARR in its first two years and doubled it in the third, reaching $18 million. The NZ-based startup, already active in Australia, the US, UK, and Canada, aims to double ARR again in 2025 as it expands into Ireland and other European markets like France and Germany. Tracksuit, which now tracks around 7,000 brands for 600 clients, attracts both startups and major brands like Woolworths, Disney, and Uber Eats. Co-CEOs Connor Archbold and Matt Herbert leverage existing customers to validate new markets before fully launching, maintaining a lean approach. With offices in Auckland, Sydney, New York, and London, Tracksuit has doubled its team to 100 in the past year. Check out Fiona Rotherham’s deep dive into their success over at NBR credited to its commitment to simplicity, affordability, and usability, presenting brand data in an accessible way that resonates with marketers and decision-makers.
Rocket Lab’s Neutron Rocket Aims to Compete with SpaceX: Sir Peter Beck’s Rocket Lab is set to launch its Neutron rocket in mid-2025, aiming to break SpaceX’s dominance in the space sector. Designed to carry 43 times the mass of Rocket Lab’s Electron, Neutron targets a $535 billion market for large-scale space solutions. Despite rising short interest, Beck remains focused on milestones, with production progressing at a new US facility and a projected quick return on Neutron’s development costs. More here.
Deloitte Fast 50 Regional Winners Showcase New Zealand’s Innovation Power: Deloitte has announced the regional winners of its 2024 Fast 50 awards, spotlighting New Zealand’s fastest-growing businesses across diverse industries, from sustainable consumer products to advanced agri-tech solutions. These companies now advance to the national awards in Auckland on November 20. Key winners include:
Pacific Edge: NZX-listed cancer diagnostics leader, named fastest-growing exporter and technology business in the Dunedin and lower South Island.
Halter: Auckland-based agri-tech company known for its solar-powered smart cow collars, recognised as the fastest-growing technology business in the upper North Island.
Anihana: Personal care brand, winning fastest-growing exporter and retail/consumer products business for Auckland.
Greaturenz: Toy manufacturer behind Eugy, a biodegradable 3D animal puzzle, crowned fastest-growing manufacturing business in Whangarei.
Hnry: Wellington-based fintech offering pay-as-you-go accounting for the self-employed, awarded fastest-growing technology business in the lower North Island.
Chia Sisters: Superfood beverage company from Nelson, named fastest-growing manufacturing business in the upper South Island.
This year’s theme, “Get set, grow: the future favours the fast,” celebrates these innovators’ resilience and agility, reinforcing New Zealand’s reputation for pioneering solutions amidst economic challenges.
Wonky Box: Fighting Food Waste, One "Wonky" Veggie at a Time: Angus Simms and Katie Jackson are on a mission to tackle food waste in New Zealand with Wonky Box. Their startup delivers surplus or “wonky” produce—perfectly good but visually imperfect or overabundant—directly to Kiwi households. After witnessing produce left to waste on farms, they realised they could bridge the gap between growers and consumers. Wonky Box’s recent pantry expansion now includes short-dated or surplus items like coffee and chocolate, rescuing even more food from landfill. Angus’s advice for founders? Don’t go it alone—having the right co-founder and skilled team members can make all the difference. More here.
CoffeeSpace: The Hinge for Aspiring Co-Founders: CoffeeSpace is a new platform designed to connect entrepreneurs seeking co-founders, drawing inspiration from dating apps like Hinge. The app uses algorithms to match individuals based on their skills, interests, and goals, facilitating meaningful partnerships in the startup world. By streamlining the search for compatible co-founders, CoffeeSpace aims to foster successful entrepreneurial collaborations. Sounds like a nice match for Caffeine? ☕🧐 TechCrunch has more here.
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