The agency, which claims to be the fastest growing independent advertising agencies in the UK, says the investment is the first in a number of investments, acquisitions and team additions intended to build a “highly integrated and future-facing agency model which combines the best creative, technology and data expertise”.
Ben Bilboul, Karmarama CEO, says: “Today’s announcement secures our independent future and opens up a multitude of new opportunities for both our clients and our people. This investment will help us lead the market in the fusion of creativity, technology and data, and we’re looking forward to partnering with other like-minded entrepreneurs to help achieve this.
“By putting the principles of collaboration, innovation and entrepreneurial thinking at its heart, we are confident that this progressive venture will be market- defining.”
The investment also takes in Karmarama’s associated agencies Kream, a production house and digital PR firm Kaper.
The business will continue to be owned by Karmarama partners Ben Bilboul, CEO, executive chairman Nicola Mendelsohn, chief creative officer Dave Bounaguidi and Sid McGrath, chief strategic officer.
Phoenix Equity Partners’ previous investments include luxury shoe brand Jimmy Choo, which was sold last week for £500m last month, LK Bennett and Precise Media.
Karmarama was named Agency of the Year at the Marketing Week Engage Awards 2011 last week. Its clients include Marketing Week’s Brand of the Year Costa, Nintendo, the BBC and Unilever.