Local Tech Wire
FORT MILL, S.C. – , a fast-growing provider of online marketing services, is gearing up growth plans with an investment from private equity firm General Atlantic.
The amount of the investment was not disclosed, but General Atlantic’s average investments in 2010 is $200 million, according to the New York-based fund. It manages some $15 billion in assets.
"We are thrilled to bring General Atlantic on as a strategic partner," said Ric Elias, chief executive officer at Red Ventures. "As we continue to execute on our growth plans, GA’s value-added approach and expertise in our market segment will be extremely valuable. Their long-term investment philosophy and network of first-class professionals will help Red Ventures as we look to add global brands as strategic partners and scale our operations."
Red Ventures has increased its headcount by more than 100 percent over the past year to some 950 and plans to have 1,100 employees by the end of the tear.
"Since Red Ventures launched in 2000, the company has consistently proven to be a market leader in next-generation digital and direct marketing," said Anton Levy, managing director at General Atlantic and head of the firm’s Media and Consumer sector, in a statement. "We are very excited to partner with such a strong management team, and believe that the company is poised to provide a broad base of customer acquisition services that will help their partners achieve significant growth in their revenues."
Red Ventures operates offices in the Carolinas, Florida, Puerto Rico and Guatemala. The company, founded by Ric Elias and Dan Feldstein, launched in 2000.
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