Austin Ventures has acquired creative agency Exopolis for an undisclosed amount.
Creative Agency Exopolis, having earlier in the year completed a merger with the creative strategies division of Austin, Texas-based production company Action Figure, has today announced that it has been acquired by Austin Ventures, a venture capital and growth equity firm that invests in the technology and services industries. Matt Hovis, who co-founded Action Figure, comes on board the Exopolis executive team as Chief Creative Officer and is joined by Exopolis co-founders Kat Egan and Daniel Arcana.
“The chemistry between Action Figure and Exopolis was abundantly clear when I first met Kat and Daniel last year. We began collaborating on projects and accounts and knew immediately that our skill sets fit together perfectly. Both of our companies have deep roots in design, production and technology and we share the experience of having run successful independent shops for over 10 years”, said Hovis. “The key for us, however, is our shared vision for a new agency structure that we feel best addresses the current marketplace.”
This acquisition by Austin Ventures lays the foundation for a larger digital play currently in development by the Exopolis team.
“Exopolis is the ideal partner to accelerate the company’s expansion into the fast growing digital agency arena,” said Chris Pacitti, General Partner, Austin Ventures. “Exopolis has the dynamic creative chops and forward thinking business model to evolve into our vision of what it will take to compete in what has become a very exciting sector.”
Upon this announcement, Exopolis is debuting a new rebrand for Rhapsody and is in development on a new cross-platform image campaign that promotes Rhapsody’s new music service offering.
Said Ronan O’Mahony, Sr. Manager Brand Marketing, Rhapsody, “We have been working on projects with Exopolis for over three years, and when we needed to refresh our identity to reflect a new direction for the company, we knew Exopolis would be up to the task. The strategic and creative team helped us conceive a new look for our brand to coincide with Rhapsody going independent. In addition, we are excited to work with Exopolis on building out a holistic campaign to promote our latest suite of product features and smartphone apps.”
Exopolis Co-Founders Kat Egan and Daniel Arcana are enthusiastic about their extended creative team and relationship with Austin Ventures. “I’m thrilled to have met like-minded visionaries who have a passion for digital, design and creating smart solutions for our clients,” commented Egan. “We’ve long had an affinity for the creative energy and technology spirit that emanates out of the Austin market and when we connected with Action Figure, we knew immediately that we wanted to work together,” concluded Daniel.
About Austin Ventures
Austin Ventures (“AV”) has worked with talented entrepreneurs to build valuable companies for nearly twenty-five years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation. With an investment focus on business services and supply chain, financial services, new media, Internet and information services, software, and Texas special situations, AV invests at all stages of company development, from $100,000 in “planned experiments” in early stage ideas to $100+ million investments in expansion rounds, minority recapitalizations, and buyouts of lower middle market growth companies. AV’s strategy is to partner with talented executives and entrepreneurs through its CEO-in-Residence and Entrepreneur-in-Residence programs. Visit austinventures.com for more information.
Exopolis is a creative agency with a penchant for technology. We are a tribe of digital craftsmen with bases in New York, Los Angeles, Chicago and Austin. Our company and all the projects we accept are guided by a team of veteran multi-disciplinarians with years of experience in cross-platform creative, and related technologies. We have no history of traditional anything, and look to every client engagement as an opportunity to do something truly spectacular.
Clients include Rhapsody, Apple, Coca-Cola, Nokia, Disney, Bossa Nova Beverages, Microsoft, Nickelodeon, Havaianas, History Channel, IFC, HBO/Cinemax, Nike, JC Penny, Universal Pictures and agencies Hill Holiday, Leo Burnett, Y&R, Goodby Silverstein & Partners, JWT, Ogilvy & Mather, McCann-Erickson, Publicis, Saatchi & Saatchi and Crispin Porter + Bogusky and more. www.exopolis.com