COMPANY INFO
There are two companies named Trace:
Trace (Columbus): Founded in 2020, this company has 7 employees and operates in the Media and Information Services (B2B) industry. It develops an augmented reality (AR) content creation platform that enables brands, retailers, and training programs to create immersive 3D AR experiences easily.
TraceHQ.com, Inc.: Founded in 1999, this company has approximately 657 employees and provides cloud-based expense analytics software for businesses. It offers spend management solutions including spend alerts, performance reporting, unified payments, and coordinated purchasing. TraceHQ.com was acquired by Paylocity in December 2023.
Trace (TraceHQ.com, Inc.) is a cloud-based expense analytics software company founded in 2006 by Matthew Gonzalez, Martin Destagnol, and Mike Gonzalez. Operating in the software development industry, Trace specializes in workforce planning and spend management, providing businesses with unified back-office workflows and automation to manage headcount and purchasing decisions. With a compact team of around 12 employees as of late 2022, Trace was acquired by Paylocity in December 2023.
Trace (TraceHQ.com, Inc.) funding has drawn attention in the cloud-based spend management space, with the company raising a total of $1.5 million over three funding rounds. The Trace funding strategy centered around securing early-stage capital for growth, supporting technological innovation, and scaling operations. Notable milestones include a major Seed round in 2022 and a grant in 2024. Trace funding rounds attracted several institutional and angel investors before its eventual acquisition.
This Seed round, led by Y Combinator, was aimed at fueling product development and supporting company growth initiatives.
Trace was awarded a grant as prize money from business.gov.au to support focused projects and further the growth of its spend management solutions.
The largest Trace funding round to date, this Seed funding was led by Antler and Existential Capital, providing early-stage capital for initial business growth and development.
Antler is a prominent global early-stage venture capital firm. As a lead investor in the $1.5M Seed round, Antler played a critical role in Trace's initial growth phase and provided strategic support.
An Australian government initiative, business.gov.au awarded Trace a $260K grant as prize money, enabling the company to accelerate specific projects and expand its impact.
Existential Capital participated as a key institutional investor in the Seed round, contributing to Trace's early-stage funding and supporting its business development.
Collis Taeed is an angel investor, supporting Trace through additional funding and guidance as the company developed its software offerings.
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