R2integrated, which helps Mastercard, Microsoft, Chrysler and others with brand and marketing efforts, announced this morning that Baird Capital has made a majority investment in the company.
R2i’s senior management will retain a significant stake in the company, and Baird Capital’s Owen Sullivan will now serve as the Chairman of the Board.
The investment will set up growth in R2i’s cloud platform, as well as in industry verticals and specific geographic markets. The investment also will fuel potential acquisitions.
“We’ve seen growing investments among mid-market CMOs in digital transformation,” and in order to meet that demand the company will focus on providing cloud solutions, R2i CEO Matt Goddard said in a release.
Tom Costello, a principal at Baird Capital, added: “We believe there is significant opportunity for an agency of R2i’s size to lead the mid-market with its technology expertise and ability to build and run multi-channel customer experiences. Our investment is intended to scale and fuel their growth more quickly, both organically and through acquisitions.”
Baird’s investment will support the company in this effort, said Goddard, who will remain in his position as CEO.
R2i employs 200 nationally, and its Seattle office employs 25. That office works with clients including Microsoft, Seattle University and Bluetooth.
R2i was founded in 2003, with headquarters in Baltimore and offices in Silicon Valley, Seattle, New York, and St. Louis.