L2 announced today that former President of Millward Brown Digital/Compete Scott Ernst will join the company as CEO. Founder and former CEO Scott Galloway will stay on board as Chairman. L2 added several other senior executives recently: Dean McRobie as CTO, Karen Gardner as Vice President of Finance, and Eunice Byun as Vice President of Business Development.
Since its launch four years ago, L2’s Digital IQ Index research reports have become the benchmark for consumer brand managers to measure their online performance. L2 provides the results of its proprietary research through subscription services to consumer enterprises ranging from Procter & Gamble and Unilever, to ABInBev and L’Oréal. Today, more than 300 brands rely on L2 to benchmark a company’s digital competence relative to peers, across site, digital marketing, mobile and social media. L2 provides member brands with data driven, actionable recommendations at a fraction of the cost of traditional episodic consulting.
“Few firms have established as big a footprint this fast, among so many iconic global brands,” said Ernst, incoming CEO of L2. “ The Digital IQ offering has established itself as the standard for digital competence. I’m eager to build a firm whose scale and intellectual property (IP) can foot to the market opportunity.”
In March, L2 closed a growth investment round of $16.5 million from General Catalyst to accelerate the development of its subscription business intelligence service and expand its global presence. The company will deploy the investment to deepen existing benchmarking of digital competence of leading brands and real-time reporting to fuel the company’s growth in Europe, Asia, and Latin and North America. L2 also named two experienced former technology and media executives to its board: Paul Sagan, an XIR and partner at General Catalyst, and Larry Bohn, managing director of General Catalyst.
“In Scott Ernst, Scott Galloway found the ideal partner to accelerate L2’s growth providing L2 members with insight into the link between digital competence and stakeholder value,” said Paul Sagan, Non-Executive Chairman of L2 and XIR at General Catalyst Partners. “The two are perfectly suited to help L2 continue its mission to redefine how brands measure their strengths and address weaknesses in a global marketplace where digital is the connective tissue between brands and consumers.”