In what the agency is calling a “landmark deal,” London-based Brainlabs has secured a major investment from Charlotte, NC-based private equity firm, Falfurrias Capital Partners (FCP). The amount of the investment was not disclosed, nor what percentage of the agency Falfurrias was acquiring in exchange for its investment.
The agency said the investment would be used to support its global expansion plans — it is launching hubs in additional markets across Europe, Asia Pacific and Latin America.
In March Brainlabs appointed longtime Mediacom veteran Adam Potashnick as CEO, North America, with a mandate to expand the agency’s growth across the US and Canada.
Brainlabs was founded in 2012 by former Google executive Daniel Gilbert with ambitions of becoming the largest independent media agency in the industry. Stephen Allan, the former global CEO of GroupM’s MediaCom is executive chair of Brainlabs.
Brainlabs also announced two additional members to its board, including FCP Executive in Residence Alexander Jutkowitz (founder of PR and content company SJR) and Lisa Sherman, President and CEO - The Ad Council.
Brainlabs sold a minority stake in the agency to London-based private equity firm Livingbridge in 2019. The agency says it has grown eightfold in revenue since then, with growth driven in part by the acquisition of eight agencies, including U.S. programmatic agency MediaNet and digital agency Hanapin Marketing.
Brainlabs has an estimated valuation of $320 million, although the company declined to confirm the figure.
Brainlabs U.S. clients include Consumer Cellular, American Express, Adidas and The Weather Company.
The agency has about a dozen offices worldwide including outposts in New York, Toronto, Austin and London.