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Gen-X, Boomer Opps: Gabi taps first CMO with new funding, increases national TV ad spend (Score 78)
Gabi, a company dedicated easing the process of finding the best home and auto insurance, named Nick Fairbairn, who previously served in advising roles at several companies including Gabi, its first CMO in February 2020. We are not sure how the company is responding to the global pandemic, but we will keep you updated and expect strategic shifts under its new DM.
Since the year started, Gabi also hired product marketing and lifecycle manager Joncarlo Putman (March) and senior analytics manager Krupal Bhagwagar (February).
The company has raised $39.1 million in three funding rounds; the most recent was a Series B led by Mubadala Capital in January 2020 that raised $27 million, per Crunchbase.
Per iSpot's estimates, the company spent $2.3m on national TV ads YTD, a huge increase from $250.6k during the same time period of 2019. Spend totaled $2m in 2019; it did not spend any money in this channel in 2018. It primarily targets boomers and Gen-X with a male skew through this channel (see targeting right).
If Gabi is targeting boomers and Gen-X, the rise in national TV spend and drop in digital display spend make sense. However, when the company does decide to start trying to reach younger consumers, its money-saving focus will appeal to them.
Agency & martech readers - Reach out to Gabi's new CMO for potential work; we expect it will require PR assistance to boost brand awareness before seeking media, digital and/or creative AORs.