Muck Rack Receives $180 Million Series A Investment From Susquehanna Growth Equity
Largest Growth Equity Investment in PR Tech Will Support Continued Growth and Enhance Offerings for Global Customers
September 07, 2022 06:00 AM Eastern Daylight Time
MIAMI--(BUSINESS WIRE)--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, announced today that it has received a $180 million Series A minority investment from Susquehanna Growth Equity (SGE), an entrepreneur-centric growth equity firm. This is the first institutional capital investment Muck Rack has received since founding in 2009.
“We’re thrilled to partner with SGE to support our rapid growth and continue to define the role of PRM in the SaaS ecosystem”
Muck Rack, which has been self-funded since its inception, will continue to be founder-controlled. It has seen rapid, profitable growth in recent years, with 75% year-over-year revenue growth in 2021, and more than 300% revenue growth over the three-year period from 2018-2021. It was recently named to the Inc. 5000, the list of 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 help show the impact PR has on business outcomes and brand reputation. Journalists use Muck Rack’s free tools to showcase their portfolios, analyze news about any topic, and measure the impact of their stories.
“We’re thrilled to partner with SGE to support our rapid growth and continue to define the role of PRM 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 Muck Rack’s bright future as we drive 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 staff 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 workplace 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 more than 10,000 journalists requesting to be added to Muck Rack in the first year. In 2011, the Muck Rack software platform was born, offering journalist profiles, email alerts, search and lists. Since then, Muck Rack has transformed into a PRM platform used by thousands of organizations across brands, agencies, nonprofit and government sectors.
“Every PR professional should be using Muck Rack,” said Josh Elser, managing director at SGE. “The Company has established itself as one of the most innovative software platforms to meet the shifting demands of the communications industry. We believe there is 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 company expansion.”
Elser will join Muck Rack’s board, along with SGE managing director, Scott Feldman.
AQ Technology Partners acted as the exclusive financial advisor to Muck Rack in the transaction.
About Muck Rack
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 earned media. Its media database curates 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 about 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-centric growth equity fund with flexible capital and time horizons. SGE is exclusively focused on growth-stage software, internet and information services companies. The firm has invested over three billion dollars in 80+ market-leading technology companies over the last 15 years and has portfolio companies across the US, Canada, Europe, and Israel. SGE is backed by a unique and patient source of capital, enabling the firm to give entrepreneurs and management teams freedom and flexibility to maximize growth. To learn more, please visit www.sgep.com.