EL SEGUNDO, Calif., April 04, 2022 (GLOBE NEWSWIRE) -- Prodege, a cutting-edge consumer and insights platform, delivered more than $300 million in revenue and 32% year-over-year growth in 2021. Growth was driven by strong product development and innovation, along with client development in the US & international markets which will accelerate in 2022, supported by the December 2021 investment from Great Hill Partners.
"Prodege has done a great job of adding clients and steadily increasing revenue as their agile solutions and white-glove service are introduced to new marketers and consumer insights professionals," said Michael Kumin, Managing Director, Great Hill Partners. "In an evolving technology landscape, the team meets clients ‘where they’re at,’ fostering a deep partnership and allowing for joint growth which is good for business. We are thrilled to continue to support them in this next stage of expansion."
Great Hill Partners' investment will support Prodege’s continued industry-leading growth, including expansion of existing services and entry into new sectors and markets. Strong client growth should continue in 2022 as Prodege continues to innovate and the industry increasingly gravitates to privacy-forward data and insights and digital marketing solutions.
Prodege has a strong history of driving revenue growth organically and through strategic acquisitions. Recent developments include:
Organic Innovation – Prodege’s newly rebranded enterprise platform, peeq, democratizes data and insights. In 2022, a new behavioral insights module will deepen insights for brands on the "why behind the buy" paired with overall consumer sentiment for product and retail categories, allowing for existing partners to conduct targeted research or launch campaigns.
Strategic M&A – The February 2022 acquisition of Pollfish gives Prodege technology that improves respondent access, quality, and speed of response and provides a stronger international base that should help the company penetrate new markets. Prodege has quickly identified compelling synergies for Pollfish clients that are now getting to know our full suite of research solutions in addition to the self-service platform they know and love from Pollfish.
"Prodege has successfully expanded throughout the last decade through both organic and inorganic growth and we intend to continue to pursue strategic acquisitions," said Chuck Davis, CEO & Chairman of Prodege. "We believe that Prodege is uniquely positioned to help marketing and consumer insight professionals better understand their customers — which is vital in this personalized, quick-paced world we have all become accustomed to.”
About Prodege
A cutting-edge marketing and consumer insights platform, Prodege (pro-dé-gée) leverages its global audience of reward program members to power its business solutions. Prodege’s innovative offerings enable leading brands and agencies to gather insights and market to their target audiences. Through deep consumer profiling, our partners can more effectively acquire new customers, boost engagement, increase revenue, and drive brand loyalty and product adoption. Ahead of the data-privacy curve, Prodege has been rewarding members for their data and insights, recently surpassing $2 billion in rewards redeemed. Visit http://www.prodege.com for more information.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. Since its inception in 1998, Great Hill has raised over $12 billion of commitments and invested in more than 90 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill was recently recognized for its industry leadership, being ranked #5 in the 2021 HEC – DowJones Private Equity Performance Ranking, which evaluated fund performance of 517 leading private equity firms between 2008 – 2017. For more information, please visit www.greathillpartners.com.
Media Contact:
For Prodege:
Jessica Batty
VP, Marketing & Corporate Communications
jessica.b@prodege.com
