Tracksuit said that the latest funding would help support the company’s expansion in the UK and the US this year.

Launched in early 2021, Tracksuit has more than 60 full-time employees and operate in New Zealand, Australia, the US, the UK and Canada.

Other investors that took part in the Series A funding round include Lenny Rachitsky, Allbirds co-founder Tim Brown and Frank Body co-founder Bree Johnson.

The funding follows a seed round completed last year, meaning Tracksuit has generated at total of $18.1m so far, with existing investors Blackbird, Icehouse Ventures, Ascential and Shasta Ventures also participating in the more recent Series A round.

Tracksuit co-founder and co-chief executive Connor Archbold said: “Our goal with Tracksuit was to improve upon the traditional market research model by making it much easier to understand and way more affordable — reshaping the future of marketing and market research.

“It’s an incredibly exciting time at Tracksuit where we’re moving from experimentation to building and scaling. We’re over the moon to have the support and belief of our incredible investors, as we continue to help the most exciting brands today become the iconic brands of tomorrow.”

Matthew Herbert, co-founder and co-chief executive at Tracksuit, added: “The funding, along with our partnership with the Altos Ventures team, speeds up our plans to democratise brand marketing data and market research.

“By helping brands know what marketing efforts are working and how to discuss brand health with their teams, Tracksuit is putting them back in control of their brand-building success.”