This year, PadSquad is celebrating its 10th anniversary! What started as a one-man shop in my kitchen in the spring of 2012 has grown to a 60+ person operation routinely delivering award-winning advertising campaigns for Fortune 1000 brands.
Over the past decade, our continued innovation has led to a 3,000% increase in revenue. But as we head into our pre-teen years, it's more important than ever for us to continue innovating and growing to serve our clients more comprehensively. So today, I am excited to announce that PadSquad has received a significant growth investment from Star Mountain Capital to further accelerate our evolution through innovation, by way of investments in sales and technology.
This is truly a testament to the blood, sweat, and tears each team member has put into this business over the past 10 years. Without them, our growth and success wouldn’t be possible, and our future wouldn’t look as bright as it does right now. Thank you, thank you!
While this investment is a testament to our success as a company to date, it’s also a testament to the industry we’re all lucky to be a part of. Specifically the world of innovation, creativity, and rich media. We’ve touched on this a hundred times already, but as third-party cookies disappear from the internet, creative needs to take center stage.
In fact, the mobile rich media ad spend in the U.S. is expected to top $58 billion this year, and is projected to reach nearly $90 billion by 2026, according to eMarketer. That’s why our teams continue to push the creative envelope, looking for new ways to leverage rich media to engage audiences more meaningfully.
To date, we’ve used our expertise and technology to develop bleeding-edge products like our voice-enabled format ColorSay, and the first-of-its-kind shoppable digital AdCommerce unit measured by MikMak. In this new growth investment, we will accelerate our work to build best-in-class ad experiences that drive meaningful results for our partners.
Thanks to the Star Mountain Capital team for their trust and partnership. Thanks to every one of my talented colleagues at The Squad that I’m privileged to work alongside. I can’t wait to see what we’ll accomplish next. The opportunities are endless. LFG!