In just 12 months, Clarity turned from a small agency into a global group, and this win tops off a very impressive period for the fintech comms specialist.
The data is certainly eye-opening. Revenue grew 40 per cent to £4.9m in 2019. Average monthly retainer surged by 31 per cent to £9,940 and its workforce grew from 37 to 58 following the agency's acquisition of London-based Dynamo in December.
Freuds parent The Brewery took a stake in Clarity in October 2019 – launching it in Los Angeles. That preceded the Dynamo acquisition and a global restructure in February 2020 that also added big names to its senior team: former Bite UK managing director Rachel Gilley, ex-Hotwire chief operating officer Alex MacLaverty, and ex-EMAP chief financial officer Jason Stark all take the same roles at Clarity.
The agency picked up clients during the lockdown, adding Flashpoint, Aura Labs, Owl Labs, Adventima, F-Secure and Notion Capital to its portfolio. In the UK it lost just four pitches in an entire year, with a new business win rate of 85 per cent. In addition, the vast majority of its existing client work was maintained. The London team has been so busy it drafted in resources from New York.
Clarity adapted swiftly to the lockdown in its working practices. It was among the first agencies to shut all its global offices, two weeks before the UK Government’s lockdown, and produced a video overnight to explain its thinking to the PR industry. To help staff in the difficult times, the agency introduced measures such as meditation, wine-tasting Zoom sessions and personal COVID-19 caring mentors.
Clarity is clearly on an exciting journey and has seen fantastic financial growth.
After a bumper 2018, the health and pharma comms specialist's objective for 2019/2020 was to sustain its business, allowing for a modest seven per cent growth. That didn't happen – revenue actually soared by 83 per cent to £6.2m. One-third of the growth came organically, demonstrating the loyalty of GCI's client base and its ability to deliver on business goals. The rest it attributed to the addition of four new clients to its roster, all secured outside competitive pitches.