Private equity firm ECI Partners has acquired a minority stake in Media iQ, a UK-based analytics and technology company.
Media iQ was founded in 2010 by Gurman Hundal and Lee Puri and now has more than 350 staff in 12 offices around the world. It operates by transforming clients' data into high-performing advertising campaigns and providing real-time insights to help drive business change.
It was recently ranked number 4 in The Sunday Times International Track of private companies with the fastest-growing international sales, after delivering sales growth of 187% in the last two years.
The investment by ECI Partners will enable Media iQ to continue its rapid growth by diversifying into new regions and investing further in product development at its office in Bangalore, India.
Tom Wrenn, Partner at ECI, who will join the Media iQ board, said: “Media iQ is a leading analytics and technology company that has seen unprecedented growth in the last few years. Having built their own proprietary analytics and planning platform, AiQx, alongside their global footprint and partnerships with some of the world’s leading brands and media agencies, Media iQ are poised for further growth and expansion.”
Since 1990 ECI has invested more than a third of its capital in the technology, media and telecoms sector, generating a multiple of over 4x from 28 separate exits.
Gurman Hundal, the co-founder and CEO of Media iQ, added: "The partnership with ECI is all about accelerating our ambition and growth,” said “ECI has a long and proven track record of partnering with innovative, high-growth businesses and today marks the start of a new chapter in our journey.”