Today, TraceGains announced a strong first-half performance in 2024 as global demand continues to drive revenue and attracts global ESG partnerships to TraceGains Gather®. Actively engaging food and beverage suppliers on TraceGains’ global network has driven significant growth in users, supplier locations, and revenue, with international bookings surging over 50% year-over-year from notable client acquisitions in Europe. This impressive client growth, nearly surpassing all of 2023, includes several new customers such as 180 Snacks, Bariatrix, iSpice Foods, Jeni’s Splendid, and Sweet Candy.
The network effect delivers
“Brands are capitalizing on our powerful TraceGains Gather® network, and the result is a record number of contracts signed year to date,” says Gary Nowacki, CEO and Co-Founder of TraceGains. “We’ve reached a critical mass with demonstrated ‘network effects’ where our value proposition multiplies as more companies join our ecosystem. We’ve designed the world’s only networked supply chain ecosystem for food and CPG, and this increasing demand underscores the unparalleled value and efficiency it delivers.”
Central to TraceGains’ remarkable growth is its dynamic networked ecosystem, where buyers and suppliers seamlessly interact. User expansion aligns with robust bookings, with supplier locations surpassing 83,000 worldwide, and growing at an impressive 30% annually. TraceGains Gather® is witnessing exponential growth, with over 900 new companies joining each month. Weekly active users on TraceGains Gather® have surged by 120% in the past two years, coinciding with a 164% increase in marketplace ingredient searches. This powerful network not only drives customer acquisition but also generates valuable business leads for registered suppliers, who now manage over 550,000 ingredients, growing 20% annually.
More momentum from new partnerships
Amid global supply chain disruptions, TraceGains stands out as the premier platform for buyers, sellers, and third-party partners aiming to expand and leverage unique market synergies. This year, TraceGains unveiled integrated ESG solutions in collaboration with DitchCarbon, Sedex, and Sustained, with more innovations with HowGood launching this fall. These partnerships utilize AI and a proven method to seamlessly expose, integrate, and map critical ingredient and supplier location data directly against a brand’s supply chain. Instead of expensive customer projects that only deal with a slice of a CPG company’s supply chain, ESG from TraceGains assembles all the puzzle pieces into a holistic and affordable solution.
With award-winning solutions tailored for the food & beverage industry, rapid international expansion, a surge of new clients and new client bookings, TraceGains is poised for an exceptional second half of 2024. For more details on what’s to come, read the full story.
