(Bloomberg) -- Avenue Z has bought Bevel, a communications firm for tech and venture capital, as the newly formed digital marketing company looks to expand through acquisitions.
Avenue Z was founded earlier this year by serial entrepreneur Jeffrey Herzog.
Jessica Schaefer, the founder of Bevel, has worked with venture capital and tech clients like Acorns, Better.com, Greycroft and Point72. In an interview, Schaefer said the firm is seeking to represent technology clients across a range of categories including finance, health, climate and space. Bevel has offices in New York, Los Angeles, Miami and London and is expanding to Singapore, she said.
Schaefer will be joining the board at Avenue Z, which also counts private equity firm Baleon Capital as a backer. Founded in 2017, Bevel plans to spend the fresh capital on hiring as well as expanding into other services including SEO, growth marketing, video and influencer programs.
Morgan Borer, head of Bevel’s London office, said that the firm uses a different business model to ensure that the incentives are more aligned with the clients. Bevel often takes equity in its portfolio companies and they are paid more for milestones related to number of stories and speaking engagements.
Prior to forming Avenue Z, Herzog founded iCrossing, which was acquired by Hearst Corp. in 2010 for $450 million. Avenue Z also plans to acquire more businesses across digital marketing, branding, technology and analytics.
(Corrects story that originally published on July 6, 2023 to remove inaccurate acquisition price in headline, second paragraph)
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