Research firm eMarketer today announced that private investment firm Stripes Group has taken a $25 million minority stake in the company. The new funding will be used to pay back early investors, including eMarketer’s major shareholder, Beehive Ventures LLC, as well as improve service and spur growth, the company said.
“We’re at an inflection point where we’re going to be ramping up significantly, looking at international and other [areas],” eMarketer co-founder and CEO Geoff Ramsey told Adweek.
In a statement, Ken Fox, founder and managing partner of Stripes Group, said, "We have been following eMarketer for several years and have watched as management built the business into the leader in providing information and data on digital marketing and e-commerce."
Founded in 1996, eMarketer employs about 100 staff members who publish data, analysis and insights on digital media, marketing and e-commerce. With the new investment, Ramsey said, the company plans to continue its “hiring rampage” and expand its international coverage.
“We already have content that reflects non-U.S. data, but we want to increase that significantly,” he said. “That may mean hiring people who speak different languages so that we can find data that’s in other languages and interpret that, and it also means starting to build up more sales people who specialize in that area.”