Trackonomics has announced a £1.2 million investment led by London venture capital 24Haymarket, a premium deal-by-deal investment platform focused on high-growth businesses.

Trackonomics offers affiliate dashboard automation, consolidation and optimisation for all performance and affiliate channels, and has a range of clients including Buzzfeed, Condé Nast and Gizmodo Media.

The investment comes as Trackonomics starts a new phase of intensive product development as it looks to expand its global footprint and develop its proposition further in the US and European markets. The investment has given them confidence in their strategy, too.

“We are on a mission to reduce the friction points in affiliate marketing and build an intelligent and fluid platform for performance marketers everywhere. We strongly believe that in this age of ever-growing user acquisition costs, affiliate marketing will become an essential monetisation channel for every publisher and an essential acquisition channel for every advertiser,” said co-founder Hanan Maayan.

“The company’s performance marketing platform both solves a pressing need and creates new revenue opportunities for its clients,” commented Paul Tselentis, CEO of 24Haymarket; “We’re confident that the explosive demand that the company has experienced in the past year will continue and look forward to supporting the company to capitalise on the opportunities that lie ahead.”