Marketing tech group raises $200m
Marketing tech group You & Mr Jones has raised $200 million Series B funding and has been valued at $1.3 billion.
The funding round follows an initial $350m raised from six investors in 2015 when the company was launched to help big brands do their marketing better, faster and cheaper using technology.
Following four years of exponential growth, You & Mr Jones has built a workforce of 3,000 in 40 countries and counts Unilever, Adidas, Microsoft, Reebok, PayPal, Hertz, Marriott, Renault-Nissan, Danone and Google among its clients.
The group has made six acquisitions and 34 investments in 21 tech companies.
“We launched You & Mr Jones in 2015 based on the strong belief that due to the mobile revolution clients needed a totally new kind of marketing partner: one that was expert in both brand and technology,” said founder and CEO David Jones.
“Since then, we have seen a radical realignment of the marketing industry, with massive declines in the valuations of the established order as they have fundamentally failed to adapt, and the arrival of interesting new entrants – even including the head of the largest traditional legacy business who launched last year emulating our positioning.
“Our focus is to further scale our ability to use technology to deliver better, faster and cheaper marketing for our clients and to capitalise on the huge opportunity that the market disruption affords us.”
Returning investor Baillie Gifford also has major stakes in Amazon, Tencent, Alibaba, Tesla and Netflix.
Its head of global equities James Anderson said: “David and the team demonstrated an early understanding that the marketing industry was being fundamentally disrupted by technology and they have created a compelling proposition for the world’s leading brands.”
Ben Silberman, co-founder and CEO of Pinterest says: “You & Mr Jones sit in a unique position at the intersection of the brand and tech worlds.
“They have been able to introduce us to leading global brands and help us better understand what brands need from technology platforms like Pinterest.”
Mich Mathews, You & Mr Jones board member and former Global CMO of Microsoft, says: “The You & Mr Jones team saw this very early, at a time when the traditional legacy businesses were still announcing record results, and this has given them a huge head-start on everyone else.
“They’ve scaled impressively since launch and are now able to deliver a brand new model for global brands and help them deliver technology-driven 21st century marketing.”