(openPR) - Copenhagen, Denmark (May 10, 2007) –TraceWorks, a Danish company specialising in marketing management software for advertisers, is expanding globally thanks to a DKK30 million (€4 million) investment.
The funding from Nordic Venture Partners will enable the company’s can-do marketing software Headlight™ to challenge existing players such DoubleClick, TradeDoubler, 24/7 Real Media, Mediaplex, Unica and Aprimo.
“The market is dominated by some old-school players with rather complex and fragmented technologies,” said TraceWorks’ Chief Visionary Officer Morten E Wulff. “Our system is simpler to use because it is tailor-made to get the job done for a marketer or agency, quickly and painlessly.”
Headlight is ‘Software as a Service’ (or SaaS), which means Headlight is accessed through an internet browser. This means no problematic installation, the software runs on all operating systems, it is always the latest version, and is available anywhere – just a log-on away. SaaS companies such as CRM system Salesforce.com have seen rapid growth in the past year as more companies see the benefits in having software available over the internet.
“For marketing managers, directors and agencies, a lot is changing. Their profession will become a science and their efforts will be more and more closely linked to sales results. Our mission is simple: to help marketing teams and agencies face the growing challenge of creating accountability in marketing – one of the biggest challenges for most companies today.
“Headlight streamlines everything from media planning and digital asset management, campaign deployment and campaign measurement. Even better, it only takes five minutes to learn,” adds Morten E Wulff.
According to Forrester Research, more than three out of four marketers say marketing needs a comprehensive, integrated application suite to improve its effectiveness. (Enterprise Marketing Platforms, Q1 2006 Forrester Research, February 2006).
TraceWorks has grown more than 125 per cent every year for the past four years. Headlight is the preferred partner for many international media agencies around the world such as Initiative Universal Media, Mediaedge:CIA, Mindshare and McCann. Direct international clients include KLM, E*Trade, and Chevrolet. More than 75 per cent of TraceWorks’ growth is generated in Germany, the United Kingdom and Scandinavia.
“TraceWorks is a company that solves a huge and obvious problem for most medium and large companies. The company’s growth rate the last few years has been exceptional and I’m confident that TraceWorks could become the next Salesforce.com success in the fast emerging SaaS industry,” says Henrik Albertsen, Managing Partner at Nordic Venture Partners.
Nordic Venture Partners is a venture capital firm with a portfolio of investments in the Information and Communications Technology sector. Its objective is to identify and develop unique young companies focusing on enterprise software and hardware, communications software and hardware and internet applications and infrastructure. Its most recent investments have included Polar Rose and Zyb.
TraceWorks was ‘spotted’ for development by Morten Lund of LundKenner who is internationally respected for his ability to spot young business talents and up and coming tech companies such as Skype, Zyb, Zecco, and Maxthon.
Currently, TraceWorks’ international sales and marketing is done through partners and direct sales from Denmark. In order to better accommodate international ambitions, TraceWorks will set up regional sales and support teams in key markets – which at this stage is: Germany, UK and Scandinavia.
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