Red Ventures, a Fort Mill, S.C.-based provider of online marketing services, has raised an undisclosed amount of growth equity funding from General Atlantic.
Red Ventures, a leading online marketing services company, today announced an investment by global growth equity firm General Atlantic LLC (“GA”). GA will become a minority shareholder and support Red Ventures’ efforts to enhance its strong position as a global leader in customer acquisition marketing. Financial details were not disclosed.
“We are thrilled to bring General Atlantic on as a strategic partner,” said Ric Elias, CEO of Red Ventures. “As we continue to execute on our growth plans, GA’s value-added approach and expertise in our market segment will be extremely valuable. Their long-term investment philosophy and network of first-class professionals will help Red Ventures as we look to add global brands as strategic partners and scale our operations.”
“Since Red Ventures launched in 2000, the company has consistently proven to be a market leader in next-generation digital and direct marketing,” said Anton Levy, managing director at General Atlantic and head of the firm’s Media and Consumer sector. “We are very excited to partner with such a strong management team, and believe that the company is poised to provide a broad base of customer acquisition services that will help their partners achieve significant growth in their revenues.”
Over the past ten years, Red Ventures has established itself as one of the fastest-growing companies in the U.S. With market-leading capabilities that include lead generation, sales conversion, performance tracking and marketing channel optimization, Red Ventures works with the largest satellite television and home security providers in the nation, as well as other leading brands across various industries. The company has offices in South Carolina, North Carolina, Florida, Puerto Rico and Guatemala, and will expand to 1,100 employees by the end of 2010 – more than doubling in size in just 12 months.
“The partnership with General Atlantic couldn’t arrive at a more exciting time for Red Ventures – our results are the best they’ve ever been and our future has never looked better,” said Dan Feldstein, Chief Marketing Officer. “As we prepare for another round of strategic growth, our partnership with GA will allow us to unlock greater opportunities at an even faster rate than we’ve done in the past.”
A leader in recognizing the transformative potential of technology and the internet, General Atlantic has invested over $1.5 billion in leading media and consumer companies since 1995. GA invests in the $2 billion range on a global basis, with an average investment size of just over $200 million in 2010. In addition to the media and consumer sector, General Atlantic focuses on providing growth equity globally to emerging leaders in health care; energy and resources; business services and technology; and financial services.
About Red Ventures
Red Ventures is a leading online marketing company that develops and manages large-scale, multi-channel customer acquisition programs for leading brands in the U.S., Canada and Puerto Rico. The company generates new customers through proprietary marketing channels, exclusive partnerships and an innovative process that optimizes lead-to-sale conversion and channel mix. Among its business units are Direct Star TV and Security Choice. Red Ventures has been ranked among the fastest-growing companies on the Inc. 500 list three times since 2004. Founded in 2000 by Ric Elias and Dan Feldstein, Red Ventures employs more than 950 people in five locations. For more information, please visit www.redventures.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages approximately $15 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, Düsseldorf, Hong Kong, Beijing, Mumbai and São Paulo. For further information and a listing of GA’s public and private portfolio companies see www.generalatlantic.com.