Press Release: Bounteous Announces Strategic Investment from New Mountain Capital
Partnership to power expanded capabilities, service offerings, and geographic reach
Chicago, IL and New York, NY — August 3, 2021 – Bounteous, a leading insights-driven digital experience consultancy, today announced it has partnered with New Mountain Capital ("New Mountain"), a growth-oriented investment firm with over $30 billion in assets under management. The partnership will support strategic investments in talent, new service offerings, and the Co-Innovation enablement methods that Bounteous uses to drive clients' digital transformation programs.
The Bounteous management team will remain in their roles, with CEO Keith Schwartz and co-founder Phil Hollyer serving on the board of directors.
With six-fold growth over the past five years, Bounteous has become a trusted digital innovation partner to some of the world's leading brands, as well as a magnet for top digital talent. Bounteous has accomplished this growth while putting constant focus on customer outcomes and satisfaction, and maintaining a commitment to its vibrant and high-performing company culture. Bounteous helps clients solve their most difficult digital challenges by building unique, insights-driven customer experiences that leverage a powerful blend of data analytics, design, and engineering. From strategy to execution, Bounteous is co-innovating with category-leading brands like Caesars Entertainment, Coca-Cola, Domino's, and Mars Wrigley to maximize their platform investments and grow their digital maturity.
"New Mountain is the ideal partner for our next phase of strategic growth," said Keith Schwartz, Bounteous CEO. "Our new partnership will enable the Bounteous team to pursue our vision to become the preeminent, independent digital consultancy globally, and enhance our award-winning culture that is attracting the best talent in the industry. Our continued focus on talent and innovation will pay great benefits to our clients and team."
Prasad Chintamaneni, Managing Director at New Mountain, said, "With its unmatched expertise and Co-Innovation offering, Bounteous has established itself as a thought leader and key digital transformation partner to some of the world's most respected brands. The rising importance and increasing complexity of digital experiences and commerce ecosystems put Bounteous in a unique position to take advantage of increasing demand and new opportunities. Bounteous is a compelling addition to the growing portfolio of New Mountain's digital transformation investments."
"Bounteous has an outstanding track record as a trusted partner to global brands, optimizing digital experiences that drive real value," added Brian Murphy, Director at New Mountain. "We are excited to partner with Keith and his team to support Bounteous in its next chapter of growth and build on their strengths and capabilities even further."
Canaccord Genuity acted as exclusive investment banking advisor to Bounteous in this transaction.
Founded in 2003 in Chicago, Bounteous is a leading digital experience consultancy that co-innovates with the world's most ambitious brands to create transformative digital experiences. With services in Strategy, Experience Design, Technology, Analytics, and Marketing, Bounteous elevates brand experiences and drives superior client outcomes. For more information, please visit www.bounteous.com. For more information about co-innovation, download the Co-Innovation Manifesto at co-innovation.com.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, net lease real estate and public equity funds with over $30 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.
Additional information about New Mountain Capital is available at www.newmountaincapital.com.