id29 Design Firm Expanding After More Than $1M Investment
Jul 9, 2019, 6:00am EDT Updated a day ago
Downtown Troy advertising, design firm expanding after more than $1M investment
The downtown Troy advertising agency that has crafted campaigns for Harry Potter, Puma and SI Group — id29 — is turning its focus to growth after receiving a seven-figure investment.
Michael Fallone, creative director and principal of id29, said the investment from an unnamed client will help the under-the-radar agency fill a larger space in the local market.
"We'll be much more aggressive about business development and our business revenue and employees in the next two to three years," he said.
Fallone started the design, advertising and marketing company with Doug Bartow in 2003. Fallone previously worked at Media Logic and Bartow was director of design at MASS MoCA.
One of id29's first clients was MapInfo, the tech company that was eventually acquired by Pitney Bowes. Then in 2007, id29 was chosen to create the campaign for the seventh Harry Potter book, "The Deathly Hallows." Following that were campaigns with Cobra Golf, a subsidiary of Puma, and other brands.
Today, id29 has 10 employees led by Fallone and Bartow out of an office in downtown Troy over Brown's Revolution Hall. Clients include Bestpass, Crystal IS, Brown's Brewing Co., SI Group and Pioneer Bank. Fallone said about 60% of id29's clients are local. He expects that number to grow in the next few years.
With the latest investment, Fallone also expects employee count and revenue to double in the next few years. Annual revenue is just over $2 million, he said.
Fallone declined to give a specific dollar amount or say who the client is that's investing money into the company. Fallone remains a principal in the company following the equity investment.
"Our next steps are to grow intelligently. We've always been pretty stealthy, and that's been on purpose," Fallone said. "I've seen companies grow and it's sometimes hard to scale what we do, but I now have a financial backing that we can take and make sure that we grow the company."
The investment will allow id29 to expand its web and digital marketing, experience management and employer brand strategy services. The company is hiring for three jobs right now, including a creative director to let Fallone focus more on business development.
Employer brand strategy — focused on touting a company as a good place to work — is one of the big growth areas for id29.
"In the last year in particular, our revenue from employer brand strategy has tripled," Fallone said. "Employer brand strategy in general right now is much more important than it's ever been because people are having a really, really hard time finding the right employees. While that's largely been in the domain of HR, it's now very much at the forefront of the C-suite in terms of strategic initiatives."