Camelot Portfolio Company, ePrize Acquired by Catterton Partners
Acquisition to Accelerate Digital Engagement Programs Across Mobile and Social
PLEASANT RIDGE, MI August 21, 2012 ePrize LLC, the leader in digital engagement specializing in mobile, social and web campaigns, today announced that it was acquired by Catterton Partners, the leading consumer-focused private equity firm. This investment will be used to accelerate ePrize's overall growth and expansion, particularly in the multi-channel engagement and CRM arenas. Terms of the transaction were not disclosed.
ePrize offers an innovative technology platform that enables brands to engage with consumers through mobile devices and social media. As the recognized industry leader, ePrize administers four times more national campaigns than any other company, and estimates that by the end of 2012, 80 percent of all its campaigns will incorporate a mobile component. ePrize's mobile engagement tactics have been proven to double or even triple basket size, and can be seamlessly integrated into a brand's social and web properties through ePrize's proprietary technology. In July 2011, ePrize acquired a division of Apollo Data Technologies, and in January 2012, acquired Cellit, a mobile solutions company.
The current ePrize leadership team led by Matt Wise, Chief Executive Officer, will continue to lead the Company, capitalizing upon the financial and strategic resources created by the acquisition.
Mr. Wise said, "ePrize is uniquely positioned to lead marketers into the future of mobile engagement, as we currently have over 800 clients, including the majority of the Fortune 500 and 60 percent of the largest ad agencies. Our multi-channel engagement solutions enable brands to continue the dialogue from social to mobile, all the way to POS on a single unified platform. With Catterton's consumer insights and operational and financial expertise, we can further accelerate our growth and innovation in helping companies engage their consumers through online, mobile and social means."
"ePrize is on a trajectory of remarkable growth, and we are delighted to partner with them to help expand the Company's breakthrough digital promotional and loyalty engagement programs," said Scott Dahnke, Managing Partner of Catterton Partners. "As the largest online promotions platform, ePrize has been a pioneer in digital engagement. The rapid increase in the adoption of mobile technology has changed how brands engage with consumers, and ePrize is at the forefront of that trend. We look forward to working with the talented team at ePrize and leveraging our capabilities and resources to support the Companys continued growth and expansion."
Founded in Detroit in 1999, ePrize retains its headquarters in the metro Detroit area, with offices in New York, Chicago, Los Angeles and Seattle.
About Catterton Partners
About Camelot Venture Group: