MIAMI–(BUSINESS WIRE)–Sept. 7, 2022–
Muck Rack, the public relations management (PRM) platform that helps organizations find the right journalists to pitch, report on media coverage and prove the value of their work, today announced it has received a minority investment from $180 million Series A of Susquehanna Growth Equity (SGE), an entrepreneurship-focused growth capital firm. This is the first institutional equity investment that Muck Rack has received since its inception in 2009.
Muck Rack, which has been self-funded since its inception, will continue to be controlled by its founders. It has grown rapidly and profitably in recent years, with 75% year-over-year revenue growth in 2021 and over 300% revenue growth over the three-year period from 2018 to 2021. She was recently named in the Inc. 5000, the list of the fastest growing private companies in America.
Muck Rack’s PRM platform helps public relations (PR) teams collaborate and connect with journalists and content creators to generate media coverage. Organizations also use it to monitor, measure and report on coverage to show the impact of public relations on business results and brand reputation. Journalists use Muck Rack’s free tools to showcase their portfolios, analyze news on any topic, and measure the impact of their stories.
“We are thrilled to partner with SGE to support our rapid growth and continue to define the role of PRMs in the SaaS ecosystem,” said Gregory Galant, co-founder and CEO of Muck Rack. “This investment is an indicator of the strength of our business and the bright future of Muck Rack as we move toward our mission to enable organizations to build trust, tell their stories, and demonstrate the unique value of earned media. .”
Muck Rack has quadrupled its workforce over the past three years, now exceeding 200 employees. It became a fully distributed company in June 2021 and is repeatedly recognized for its business growth and company culture. It was founded in 2009 by Galant and Lee Semel to help journalists connect with each other and share their work. It quickly became popular with PR professionals and journalists, with over 10,000 journalists applying to be added to Muck Rack in its first year. In 2011, the Muck Rack software platform was launched, offering journalist profiles, email alerts, searches and lists. Since then, Muck Rack has evolved into a PRM platform used by thousands of organizations across brands, agencies, nonprofits and government sectors.
“All PR professionals should use Muck Rack,” said Josh Elser, CEO of SGE. “The company has established itself as one of the most innovative software platforms to meet the changing demands of the communications industry. We believe there is a tremendous opportunity for Muck Rack to be the dominant global PR platform, and we look forward to working closely with Greg, Lee and their team to support this next phase of expansion of the company.
Elser will join Muck Rack’s board of directors, alongside SGE chief executive Scott Feldman.
AQ Technology Partners acted as exclusive financial advisor to Muck Rack on the transaction.
Muck Rack’s Public Relations Management (PRM) platform enables thousands of organizations, including Google, International Rescue Committee, Pfizer, Golin, Zapier, and Duolingo, to build trust and tell their stories through media acquired. Its media database manages hundreds of millions of data points to help PR teams find journalists, podcasters and content creators, generate coverage, monitor news and prove the value of their work. Journalists use Muck Rack’s free tools to showcase their portfolios, analyze news on any topic, and measure the impact of their stories. Learn more at muckrack.com.
About Susquehanna Growth Equity
Susquehanna Growth Equity, (SGE) is an entrepreneur-focused growth equity fund with flexible capital and time horizons. SGE focuses exclusively on growth-stage software, Internet and information services companies. The company has invested more than $3 billion in more than 80 market-leading technology companies over the past 15 years and has portfolio companies in the United States, Canada, Europe and Israel. SGE relies on a unique and patient source of capital, allowing the company to give entrepreneurs and management teams the freedom and flexibility to maximize growth. For more information, visit www.sgep.com.
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Copyright BusinessWire 2022.
PUBLISHED: 07/09/2022 06:00/DISC: 07/09/2022 06:02
Copyright BusinessWire 2022.