‘Brand tech’ company You & Mr. Jones adds $60M to its Series B
You & Mr. Jones announced today that it has added $60 million in new funding from Merian Chrysalis, bringing the Series B round announced in December to a total of $260 million.
The round values the company at $1.36 billion, post-money.
You & Mr. Jones takes its name from CEO David Jones, who founded the company in 2015. After having served as the CEO of ad giant Havas, Jones told me that his goal in starting what he called a brand tech group" was to provide marketers with something that neither traditional agencies nor technology companies could give them.
At that moment, the choices were to go work with an agency group, which is great at brand and marketing, but they don't understand tech, or with a tech company, which will only ever recommend their platform and don't have the same [brand and marketing] expertise," he said.
So You & Mr. Jones has built its own technology platform to help marketers with their digital, mobile and e-commerce needs, while also investing in companies like Pinterest and Niantic. And it makes acquisitions - last year, for example, it bought influencer marketing company Collectively.
Former Ad Exec David Jones Launches $350 Million Brandtech" Group
You & Mr. Jones has grown to 3,000 employees, and its clients include Unilever, Accenture, Google, Adidas, Marriott and Microsoft. In fact, Jones said that as of the third quarter of 2020, its net revenue had grown 27% year over year.
That's particularly impressive given the impact of the pandemic on ad spending, but Jones said that's one of the key distinctions between digital advertising and the broader brand tech category, which he said has grown steadily, even during the pandemic, and which also sets the company apart from agencies that are digital and tech in press release only."
We're not an ad agency, we'll never acquire agencies," he said. We have the technology platform, process and people to deliver all of your end-to-end, always-on content - social, digital, e-commerce and community management."
In addition to the funding, the company is announcing that it has hired Paulette Forte, who was previously senior director of human services at the NBA, as its first chief people officer.
The brand tech category didn't even exist before You & Mr Jones was established," Forte said in a statement. The company became a true industry disruptor in short order, and growth has been swift. In order to keep up with the momentum, it's critical to have systems in place that help talent develop their skills, encourage diversity and creativity, and find pathways to improving workflow. I am excited to join the leadership team to drive this crucial work forward."
Publicis Sapient's John Maeda explains how big companies can think like startups