ECI has invested for a minority stake in Media iQ, the leading global analytics and technology company.
Founded in 2010 by Gurman Hundal and Lee Puri, Media iQ has more than 350 staff in 12 offices globally. By transforming clients’ data into high-performing advertising campaigns, and providing real-time insights to drive tangible business change, Media iQ have created unrivaled value and ROI to their clients and partners across the globe. So much so that they have recently been ranked No.4 in the Sunday Times Track 200 fastest growing International UK Companies (187% CAGR in international sales in the last two years).
The investment will allow Media iQ to continue its rapid growth through a strategy of diversification into new regions, as well as through further investment in product development out of its Bangalore, India office.
As a high-growth, international technology-led business Media iQ fits with ECI’s core investment focus. Since 1990 ECI has invested more than a third of our capital in the TMT sector, generating a multiple of over 4x from 28 separate exits.
Other comparable ECI transactions in data and technology businesses have included Clarity Blue, the data analytics provider, sold to Experian (8x return), Fourth the world’s leading provider of cloud-based cost control software and data solutions to the hospitality industry, sold to Insight Ventures (3.5x return), CarTrawler, the B2B2C travel technology platform in 174 countries, sold to BC Partners (6x return), and Wireless Logic, the European M2M & IoT market leader, sold to CVC Growth Partners (6x return).
“The partnership with ECI is all about accelerating our ambition and growth,” said Gurman Hundal, co-founder and CEO, Media iQ, “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.”
“We are incredibly excited to work alongside Tom Wrenn, who will join our board, as well as the rest of the team at ECI, to further cement our position as the leader for the smart, connected, data-driven world.” said Lee Puri, co-founder, Media iQ.
Tom Wrenn, Partner at ECI commented,