Stella Point Capital invested $55 million in Chicago-based Rightpoint, a digital agency and technology consultant. Rightpoint’s co-founders Ross Freedman and Brad Schneider, and the company’s leadership team will stay in place.
Rightpoint, a leading digital agency and technology consultancy, today announced that it has partnered with and secured a $55 million equity investment from New York-based Stella Point Capital.
This investment has been committed to fuel geographic expansion, grow capabilities in key areas including digital marketing and CRM, and augment professional services with product-based solutions. Stella Point’s investment will also support future strategic acquisitions. Rightpoint co-founders, Ross Freedman and Brad Schneider, and the Rightpoint leadership team will remain in their positions and continue to manage the strategic direction and growth of the company.
Headquartered in Chicago, with offices in Detroit and Denver, Rightpoint is an award-winning, hybrid digital agency and IT consultancy specializing in areas including employee engagement, customer experience, custom application development, cloud strategy, CRM and mobile. Spanning a broad range of industries, Rightpoint’s clients include marquee brands such as Aon, New Belgium Brewing, Exelon, Kellogg, and Jones Lang LaSalle.
“After experiencing consistent 35% year over year organic growth for the past five years, we reached an inflection point that indicated it was the right time to amplify and expedite our growth initiatives. With this significant capital investment from Stella Point, we look forward to broadening our CRM and customer engagement capabilities, investing more in our people and brand, and delving deeper into product-based solutions for social and business productivity,” said Ross Freedman, co-founder of Rightpoint.
Rightpoint co-founder, Brad Schneider added, “We are very pleased to have Stella Point on board for the next leg of the Rightpoint journey. Not only does their investment represent a tremendous validation of our position in the industry, but their strategic insights, deep relationships, and significant resources will play an important role in this next phase of the company’s, and the industry’s, evolution.”
“We were attracted to Rightpoint’s unique culture, solid growth trajectory, interconnected, market-relevant services and strong leadership team,” said Adam Godfrey and Justin Wender, Stella Point’s co-founders. They added, “We look forward to working closely with Brad, Ross and their team in the coming years to continue to build upon their tremendous platform.” After the transaction closes, Kurt Holstein, a Stella Point Management Advisor and co-founder of Rosetta Marketing, will act as an advisor to the management team of Rightpoint and serve as non-executive chairman of its board.
Rightpoint offers a suite of custom technology and digital marketing services to fit the unique needs of CMOs – from content and eCommerce branded websites to capabilities such as social media, search, customer portals and marketing data & analytics. Rightpoint’s systems integration work leverages enterprise platforms from strategic technology partners including Microsoft, Sitecore and Salesforce. In addition, with the recent introduction of Spark, a turnkey intranet solution for mid-sized companies, Rightpoint has entered into the product development space, where it plans to continue to broaden its offerings.
Rightpoint creates world-class digital solutions that drive profitable growth and sustainable competitive advantage for some of the world’s largest companies and most iconic brands. Driven by the firm’s passion for pragmatic thinking, Rightpoint’s business philosophy is to rethink the “typical” consulting model, combining attributes of management consulting, IT consulting, and creative agency services to help clients drive business results by solving strategic problems. Rightpoint’s breadth of services include digital strategy, mobile, social, cloud, CRM and application development. With a client base of more than 250 companies, Rightpoint was named to Forbes’ 2014 list of America’s Most Promising Companies and Crain’s 50 Fastest Growing Companies in Chicago in 2014. In addition, Rightpoint co-Founder’s Ross Freedman and Brad Schneider have been named finalists for the EY Entrepreneur Of The Year® 2015 Award in the Midwest. Rightpoint’s pervasive “intrapreneurial” spirit, which ensures that clients “get it right” the first time, is the foundation by which Rightpoint has built a strong, national reputation for excellence.
About Stella Point Capital
Stella Point Capital is a New York-based private equity firm focused on industrial, consumer, and business services investments. Founded by Managing Partners Justin Wender and Adam Godfrey, the firm actively seeks investment opportunities throughout North America, working closely with management teams to identify strong market positions and achieve transformational growth. Stella Point’s team has an outstanding track record and its partners have invested over $2 billion of equity capital across more than 35 investments. Stella Point provides unparalleled senior level attention and expertise, seeking to cultivate strong relationships with portfolio companies to generate superior investment returns and significant long-term value. Please visit www.stellapoint.com for additional information.