Phoenix invests in 1000heads
Phoenix today announces an investment in 1000heads Group (“1000heads”), a leading provider of social media-led data & insights, strategic consultancy and creative services to large corporates. Phoenix is partnering with the company’s management team, led by CEO Mike Davison. Financial terms of the transaction are not being disclosed.
1000heads helps clients grow their businesses in a media landscape dominated by new technology and social media. Its ability to generate real-time data, which can be measured and analysed, helps it to constantly adapt and refine clients’ social media strategies.
The group employs over 150 people across offices in London, New York, Sydney, Dubai and Berlin, and serves clients including Microsoft, Wella, Grupo Bimbo, Uniqlo and Arm. The business has been growing strongly; revenue has increased by more than 20% p.a. in recent years, to £28m in 2019. Phoenix’s investment will support 1000heads to accelerate the expansion of its international footprint and service offering.
Following the transaction, 1000heads’ founder Mike Rowe will assume the role of non-executive director.
Mike Davison commented: “The 1000heads team has delivered great things over the last few years, growing rapidly, winning new accounts and continuing to build trusted relationships with some of the best brands on the planet. The partnership with Phoenix is going to help us support our continued growth with investment in infrastructure, operations and footprint.”
Mike Rowe commented: “We have been on an exciting journey and we wanted a partner who shared our vision for the future, and who would enable us to grow rapidly while preserving our independent culture and identity. From our first conversation, it was clear that Phoenix understood our ambitions and are best placed to help us realise them.”
Mark Sargeant, Partner at Phoenix said: “1000heads has a unique proposition and market offering and we are excited about being part of the next chapter of the company’s continued success. We look forward to working with Mike Davison and his team as we grow the business.”
Jim Houghton, Partner at Waypoint Partners, who advised on the deal said: “Seldom do UK agencies successfully establish a foothold in the US let alone achieve the kind of platform and momentum of 1000heads in New York. It’s testament to the agency’s proposition, team and combination of stamina and energy that they’ve achieved this. With Phoenix joining as a highly experienced and well-funded partner, the next stage of the journey for the group looks very exciting, extending its unique international proposition and responding to the opportunities and challenges of media fragmentation faced by some of the world’s biggest and best-known brands.”