Globalising Kiwi Innovation
Illustrating how strategic investment can propel Kiwi companies onto the global stage, Anthony Lee played a leading role in securing capital in one of Aotearoa NZ’s largest Series A funding rounds for a NZ-based company.
Anthony’s investment firm Altos Ventures, along with Silicon Valley-based firm Footwork, led Series A funding which raised NZ$21.6m (US$13.5m) for Tracksuit, a NZ-based global software company revolutionising the way that brands track and build customer experience.
When the raise was announced in February 2024, Anthony emphasised Tracksuit’s potential for long-term, sustainable growth.
“Tracksuit has created a simple, beautiful solution to a very real problem, and we’ve heard from many customers who love the product. We were impressed by their early traction across four markets, all while being super efficient and maintaining a bootstrapped mindset.”
Altos Ventures’ investment in Tracksuit was sparked by Anthony’s visit to Aotearoa NZ in 2023, and is an example of EHF Fellows enabling Kiwi startups to scale globally. Beyond providing financial backing, Anthony joined Tracksuit's Board to offer critical guidance as the company expands into the US market.
Co-founder and Co-CEO Matthew Herbert emphasised the essential role of the strategic investment in driving the company's growth, stating:
"The funding, coupled with our partnership with the Altos Ventures team, accelerates our plans to democratise brand marketing data and market research."
The Tracksuit team (photo courtesy of www.gotracksuit.com)
Anthony's support of the New Zealand startup ecosystem is further demonstrated by his personal investments in several NZ-based seed funds. During EHF’s ‘Going Global’ Impact Springboard session, he spoke about his belief and confidence in New Zealand's entrepreneurs.
“People find opportunities, and that is what is starting to happen, with what I can see, in NZ. It feels like the ecosystem is at an inflection point. There are companies and founders coming out that have the sophistication and ambition to build something just as good as what we see here in Silicon Valley.”
Anthony’s investment and hands-on support for NZ companies like Tracksuit are helping to elevate Aotearoa NZ startups onto the global stage, and showcase just how impactful support from Fellows can be to drive growth and international success for Kiwi innovators.
He was also involved in hosting New Zealand Ambassador to the US Bede Corry at a high-impact NZTE Investor Migrant event at his Altos office in San Francisco in October 2023, facilitating vital economic and technological collaboration between Aotearoa NZ and the US.
Learn more about Anthony via the Fellow Directory on our website.
Watch the full ‘Going Global: Transforming NZ Startups into Global Leaders’ session for the EHF Impact Springboard here.
Find out more about Altos Ventures here.
A shorter version of this story appeared in the 2023/24 Hillary Institute & EHF Annual Report on page 22.
