3Q Announces Growth Investment from Erie Street Capital, PSP
Published: May 9, 2019
Author: David Rodnitzky
Over the years, I’ve come back to the same goal for 3Q Digital: saving clients from inept agencies. It’s been my North Star as the company has rebranded, acquired iSearch Media, been acquired by Harte Hanks, and bought itself back to become the largest independent digital agency. I’ve also maintained that 3Q should never make any decision unless it meets the needs of three important groups of people: 3Q team members, 3Q clients, and 3Q owners.
Today, we’re announcing a huge step forward that aligns with all of these goals: 3Q has received a growth investment from Erie Street Capital and PSP Capital. Along with securing a great business partnership, this decision will provide 3Q with capital to make big investments to become the world’s best and brightest performance partner for our clients, all while preserving the culture that has helped us get to this point.
So why make this move now? Well, any goal that helps clients avoid inept agencies has to include a plan to take on the largest agencies and consulting firms. To be a credible alternative to these big, often bloated companies, we need to provide superior results across multiple channels, countries, and business goals. This means that we need to make significant investments in people, competencies, offices, and technology. While we could try to do all of this by ourselves, it would be a slow and perhaps choppy process. So we started to look for partners that could help us in two ways: first, with experience in building and growing great companies, and second with capital to help us with both organic and inorganic growth (that means acquisitions!) This combination gives us a real chance to change the digital marketing landscape and stay independent at the same time — a win-win.
And why PSP Capital and Erie Street in particular? We chose these two partners because of their depth of experience. Both organizations have proven time and again that they know how to build great businesses in general, and great agencies in particular.
Combine this growth capital with our incredible culture and client services, and we believe we have the ingredients needed to change the landscape of performance growth marketing over the years to come.
Thank you to all the team members and clients that have supported us to date. We are excited to continue to work with you and build great careers and businesses around the world!