Performance marketing leader eyes international, product and innovation investments to meet evolving consumer needs
Tinuiti – the largest independent performance marketing firm across Google, Facebook and Amazon – today announced it has partnered with New Mountain Capital, a leading growth-oriented investment firm with $28 billion in assets under management. The partnership enables Tinuiti to accelerate its competitive advantage across the entire digital marketing and media landscape, through further investment in talent, capabilities and product, as well as international expansion.
The Tinuiti management team will continue in their roles, with both Zach Morrison, Tinuiti CEO, and Nii Ahene, Tinuiti’s Chief Strategy Officer, serving on the board of directors.
Over the last several years, Tinuiti has executed on a strategic growth plan that has been fueled by organic investments in talent and technology, while also adding new capabilities and expertise through M&A. This has included three acquisitions – OrionCKB, Email Aptitude, and CPC Strategy – which, together with Elite SEM, were rebranded as Tinuiti in 2019. During this period, Tinuiti has achieved tremendous growth, expanding from 150 employees in 2017 to 700 employees in 2020, with over $2B in digital media under management. Tinuiti has been able to accomplish this growth while driving an intense focus on customer satisfaction and client outcomes, as well as employee culture and opportunity.
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“We are relentlessly focused on how consumer attention evolves in today’s digital, mobile, and increasingly eCommerce-first world. This focus fuels our strategic plan – ensuring we continue delivering incredible brand performance for our clients,” said Zach Morrison, Tinuiti’s CEO. “New Mountain Capital understands our unique positioning as tech-enabled leaders in performance marketing, and the partnership will expedite our growth both organically and inorganically to build the digital marketing firm of tomorrow.”
“We have been incredibly impressed by the award-winning, entrepreneurial culture and innovative company that Founder and Chairman Ben Kirshner, Zach, Nii, and the rest of the team have built at Tinuiti, and we look forward to accelerating their vision and positioning Tinuiti as the standard bearer in this market,” said Matt Holt, Managing Director and President of Private Equity at New Mountain.
“The rising importance and increasing complexity of digital marketing and eCommerce ecosystems is generating a massive need for firms that can partner with brands to navigate this landscape and deliver data-driven outcomes. Tinuiti’s unmatched expertise, powered by their incredible technology, Mobius, uniquely positions them to capitalize on this massive market opportunity and deliver real quantifiable value to their clients,” added Brian Murphy, Director at New Mountain.
Current investment partner Mountaingate Capital is exiting Tinuiti in this transaction, which is expected to close before the end of 2020. Financial terms were not disclosed.