The Search Agency, a Santa Monica, Calif.-based provider of search engine marketing and optimization solutions, has raised an undisclosed amount of funding from JMI Equity. RBC Capital Markets served as placement agent.
The Search Agency (TSA), a leading search engine marketing (SEM) and search engine optimization (SEO) firm, announced today that it has received a strategic investment from JMI Equity. JMI, a private equity firm focused on investments in growing software and business services companies, will work closely with TSA management to support its strong growth in providing search marketing services to clients worldwide. Peter Arrowsmith, a General Partner at JMI, has joined TSA's Board of Directors. Terms of the transaction were not disclosed.
TSA provides SEM and SEO to online advertisers through a suite of paid search and organic search tools, including its AdMax platform. The company's unique approach to online marketing is based on combining proprietary technology with a robust service offering, and has resulted in annual growth rates exceeding 100% and market leading client retention rates. TSA plans to use the investment from JMI to expand its sales and marketing efforts, and to support the continued research and development of the company's proprietary technology.
“We welcome the opportunity to partner with JMI,” said David Hughes, Chief Executive Officer of TSA. “In our focus to accelerate TSA's growth and gain market share, we were seeking an investment firm who is highly knowledgeable in the online marketing space. The fact that JMI has proven experience in our industry resonated with us. They clearly understand our strategic plan and we are excited about the significant value they can provide both strategically and financially to our organization.”
“The Search Agency's ability to offer first rate service supported and enhanced by technology is unique in the marketplace today,” said Mr. Arrowsmith of JMI. “We look forward to working with David and his team to build on the company's success, help enhance its competitive position and continue to generate profitable growth over the long term.”
RBC Capital Markets was the exclusive placement agent to TSA and Stubbs, Alderton & Markiles, LLC provided legal counsel to TSA on the transaction. JMI was advised by Goodwin Procter, LLP.