Dror Feldheim co-founded Trax in 2010 with Joel Bar-El. Trax is headquartered in Singapore, with research and development in Tel Aviv. Feldheim started as chief commercial officer, the person who sold the product to retailers and consumer goods brands, and later became president.
The company turned shelf photos taken by field representatives into data using image recognition. It raised its first $7.5 million from family offices around 2012. Its first recurring client came in mid-2013. Procter & Gamble approved the concept first, then Coca-Cola and Unilever followed.
Trax took a Warburg Pincus round in 2017 and bought Lenztech, Shopkick and Planorama in 2019. In 2021 it raised a $640 million Series E at a valuation above $2 billion. The United States brings in more than 50% of revenue.
In May 2024 the co-founders stepped back from daily operations of the company.