London-based social media publisher Jungle Creations has sold a majority stake to a UK private equity firm for £30m.
Livingbridge has taken a 51 per cent stake in the media firm through its Enterprise 3 fund, which invests in fast-growing small and medium-sized businesses.
Jungle, which was founded by Jamie Bolding in a spare bedroom in south London in 2014, produces and distributes content across seven media brands including Twisted, VT and Four Nine, which have a combined following of 125m.
Its content is primarily published on social media platforms such as Facebook, Snapchat, Instagram and Tiktok, while its branded content arm Jungle Studios produces campaigns for brands such as Bailey’s, GSK, Mondelez and Waze.
Jungle is also home to social media creative agency The Wild, which has developed ads for brands including Heinz, Major League Baseball and Silverspoon.
The investment follows a record year of profit for the media and marketing firm. It is on track for revenue of £30m and profit of £5.5m in 2021.
Jungle said the cash injection would fuel its growth strategy through increased content output, new brands and international expansion.
“We are thrilled to have partnered with Livingbridge, a company with extensive experience in helping businesses scale,” said co-chief executives Melissa Chapman and Nat Poulter.
“They have shown great passion for our business model and understand how well positioned we are to capitalise on this industry that’s on the rise. We believe that together we will continue to provide high quality content to our viewers whilst we embark on the next stage of our growth journey.”
The social publishing sector has grown rapidly in recent years, while social media marketing has proved resilient to the wider advertising downturn sparked by the pandemic.
Founder Boulding will retain a minority stake in Jungle alongside Edge Investments, which invested in the company in 2018.
Jungle was advised by the Deloitte corporate finance TMT team.