News | Press Releases
For Immediate Release
BIA DIGITAL PARTNERS INVESTS $9 MILLION IN MANIFEST DIGITAL
Investment Supports Company’s Future Growth Plans
CHANTILLY, VA, January 26, 2009 - BIA Digital Partners II LP (“BIA”), a private investment firm focusing on mid- to later-stage companies, announced today an investment of up to $9 million in Manifest Digital ("Manifest" or the "Company"). In conjunction with the investment, BIA’s Scott Chappell has been appointed as a director on Manifest’s board of directors.
Manifest was formed in 2001 by Jim Jacoby and is headquartered in Chicago, IL. Manifest is an integrated interactive agency, assisting businesses in the migration from traditional marketing to innovative multi-channel engagement.
“We have quietly built a business that solves complex problems in sophisticated ways. We took our time getting that part right. We’re now ready to challenge the definition of the word ‘agency’ and the traditions it has carried into our economy. Manifest’s clients see us as a business partner,” states Jim Jacoby, Founder and Chief Experience Officer (CXO) of Manifest. “We look forward to leading the industry in immediately meeting our client’s business challenges… and, in the long run, redefining what an agency should really be.”
“BIA Digital Partners is very pleased to have invested in Manifest Digital and looks forward to helping them grow in the future. Online advertising has clearly been a growth area in the broader advertising sector and Manifest proves to be above the competition,” states Scott Chappell, Principal of BIA.
“This partnership provides our business the financial strength to expand our capabilities and grow our account base at an opportune time. We are investing in our business while much of our competition is retracting and cutting costs,” said Jason Benedict, Chief Executive Officer of Manifest. “The net result will position us for significant growth in the months and years to come.”
About Manifest DigitalManifest is an interactive agency with a unique ability to spark lively conversation, connection, and exchange. Team members communicate with each other and their clients in a visual process that ties disciplines to one another in fresh new ways. At its core, the agency applies a multi-dimensional technique called the “Manifest Effect (EFCT)” that results in clear and powerful insights. This perspective is honest and unbiased, helping customers and companies connect in more meaningful ways. Engaging websites, vibrant online communities, and tightly integrated cross-channel marketing become the norm
About BIA Digital Partners
BIA Digital Partners is a private investment firm, managing over $250 million. Financing is available for acquisitions, organic growth, recapitalizations and leveraged/management buyouts among other purposes. BIA Digital Partners maintains a focus on mid- to later-stage companies operating in the media and entertainment, telecommunications, information, business and consumer services industries. Investments generally range from $5 to $12 million and are in the form of subordinated debt with warrants or preferred equity. For more information, go to www.biadp.com.
BIA Digital Partners has two affiliates, BIA Capital Strategies, LLC and BIA Financial Network (BIAfn). BIA Capital Strategies provides merger and acquisition advice and arranges equity and debt funding. BIAfn, the nation's leading communications appraisal and valuation firm for more than two decades, assists with valuations, research and analysis, strategic consulting, and financial and operational consulting. For more information, visit www.biacapital.com and www.bia.com.