Madison Media acquires majority stake in HiveMinds

HiveMinds is a Bengaluru based performance marketing agency.

In a recent announcement, Madison Media has taken a controlling stake in Bangaluru based performance marketing agency, HiveMinds Innovative Market Solutions.

With a staff strength of 70 people and counts among its clients BigBasket, ABOF, ClearTrip, CloudNine Hospitals among others. HiveMinds' strengths have been in search, social, performance marketing and programmatic buying and specialize in eCommerce, Education & Travel.

HiveMinds was founded six years ago by Jyothirmayee JT. Besides successfully operating the digital agency business, HiveMinds has successfully leveraged its expertise in data driven marketing to develop a product Intutel, a market intelligence stack that combined with Madison's programmatic platform Clear Trade, will enable brands to measure and improve customer interaction touch points necessary to influence purchases and thereby improving ROAS.

Madison Media already operates successfully in both creative and media spaces in the digital domain and many advertisers like Marico, Asian Paints, Godrej Properties, Tata Chemicals and ITC among many others use its digital services.

Jyothirmayee JT, says in a press release, "Partnering with Madison is a big next step in our journey. We have so far excelled as a digital first agency and played a crucial role in the growth of leading startups in India. Joining hands with Madison, we can take our digital expertise, technology driven marketing to larger brands and innovate in omni-channel strategies for our clients"

Vikram Sakhuja, partner and group CEO Madison Media and OOH, says in a press release, " This is Madison's exciting partnership to deliver data driven outcomes. HiveMinds brings exciting and bold innovation in data mining and uses it to dynamically improve performance. As a first, we look forward to uniting consumer intent, interest and purchase in driving media insights."

Lara Balsara, executive director, says in a press release, "Marketers are embracing customer focused digital opportunities. I am delighted at the progress Madison Media is making in the Digital space in the last one year and having HiveMinds as part of us will further strengthen the way we partner with our clients in their digital transformation journey."

Vishal Chinchankar, chief digital officer and Nagaraj Krishnamurthy, strategic consultant advised Madison on the transaction and helped develop the integrated technology strategy.