Wachsman Opens London Office
2021’s global 130% revenue and 100% headcount growth fuels geographic expansion
LONDON, April 7, 2022 — Strategic communications consultancy Wachsman, the leading specialist in Web3, blockchain and fintech verticals with more than 130 staff worldwide, has opened its London office.
From Defi to NFTs and the Metaverse, the Web3 economy has captivated investors, innovators and users alike, and London is increasingly at the forefront of this innovation. With a world class talent pool of communicators, strategists and digital experts, London was a natural choice for Wachsman’s global expansion which includes the recently launched Wachsman Los Angeles office.
Wachsman’s new Shoreditch hub is now open for business, with hiring and new business accelerating from unprecedented demand for services as well as organic client growth. Wachsman’s founding UK client Metaphysic, the London-based AI company behind DeepTomCruise, will soon be joined by a roster of clients spanning Web3, blockchain and fintech.
As part of the move, Dublin-based Alex Corp takes on a newly created role of Executive Director EMEA, Head of UK & Ireland, with EMEA leader Liam Murphy continuing to serve as Managing Director. Louise Creedon will spearhead London operations and client services after three years of increasing responsibility in the Dublin office. A strategic communications professional with over 10 years’ experience, Louise has advised some of the most high profile campaigns and organisations in emerging technology, aviation & sport.
CEO & founder David Wachsman said:
“While Wachsman has worked closely with London-based projects and companies over the years, I am excited to now have a physical presence in the city. Following the growth and ongoing success of our EMEA headquarters in Dublin, we will make use of our unique approach of specialisation-meets-scale as a blueprint for success here in London. I look forward to adding to our rapidly growing team of talented professionals so that we can deliver on the incredible demand for our services from the entrepreneurs developing extraordinary technology in the space. At Wachsman, we believe that the future belongs to the fearless.”
Commenting on the expansion, Executive Director Alex Corp added:
“When we talk about a booming blockchain and Web3 sector, we don’t just mean the price of bitcoin. This industry is thriving and attracting professionals across disciplines, from big tech, to the start-up ecosystem, to traditional finance. Wachsman London is going to open up a rich seam of talent and bold, future-focused technology clients.”
Over the past seven years, Wachsman has cornered the market in the fastest growing sector on Earth — blockchain. The overall market capitalisation of cryptocurrencies crossed the $2 trillion mark earlier this year, while venture capital funding for blockchain startups reached a record $25.2 billion in 2021, up 713% from 2020. Similarly, Wachsman has seen tremendous growth, starting in 2015 as a one-man operation with less than a handful of clients, and skyrocketing to approximately $14m in revenue by 2021, to more than 130 employees and more than 120 clients today. Wachsman has distributed teams in 20 states across the U.S. and physical offices in New York, London, Dublin, Singapore and Los Angeles.
The London team will replicate the successful model deployed in the Dublin hub, where over 80% of clients have engagements of 12 months or longer – an exceptional degree of stability and trust in a rapidly evolving industry. Wachsman EMEA took on 25 new retained clients and projects in 2021 alone, simultaneously growing the average monthly retainer by 45% YoY, reflecting an increasing proportion of high-value, long-term strategic briefs with top tier clients. Net revenues in Dublin increased 81%.
As a result, Wachsman is many times larger than any other specialist Web3, blockchain and fintech communications firm. By leveraging its scale, institutional knowledge and unique training processes, Wachsman routinely beats out global agencies and networks for marquee clients in the Web3 sector.