Marketing and technology firm You & Mr. Jones has raised $200 million from a second round of financing, which the company says brings its estimated valuation to $1.3 billion.
The money will be used expand the company’s global footprint with a focus on the Asia Pacific region. Some funds will also be used to upgrade the firm’s technology platform as well as its content and data & consulting practices.
Founded in June 2015 by former Havas Global CEO David Jones, the company positions itself as a tech disrupter of marketing and of the big legacy holding companies. It now a staff of 3,000.
You & Mr. Jones has made six acquisitions, including the January 2019 purchase of global in-housing company Oliver and has made 34 investments in 21 tech companies. The group's roster of clients include Accenture, Google, Adidas, Marriott, Microsoft, Reebok, PayPal, Hertz, LVMH, and Renault-Nissan.
Client Unilever has partnered with the group's Oliver to build out Unilever's proprietary internal agency, U-Studio, to help it become the company's largest global digital agency working across its 300+ brands, says Giles Morrison, a Unilever global vice president. "It's great for U-Studio to be able to tap into the You & Mr Jones ecosystem of companies to help us further evolve and expand our offering by leveraging their brandtech capabilities.''
"We didn't actually need to raise [more funds] as we have no debt, are profitable and had funds remaining from the first raise but we think this gives us the ability to further accelerate our ability to deliver for global brands and our growth,” stated Jones.