IC Group Turns Complexity into Growth

How IC Group Powers Commerce for Brands

IC Group Holdings Inc. (“ICGH”) provides the world’s most recognizable brands solutions that drive commerce across web, mobile, social, and live event channels —all through platforms purpose-built for scale, security, and ROI.  

Three proven revenue streams simplify technology, regulatory, risk management, and consumer incentive solutions that transform brand marketing into measurable, revenue-generating outcomes in over 30 countries worldwide. 

IC Group is a high-margin, annual recurring revenue business with global reach, built to innovate with the world’s most recognizable brands. 

 

Three Revenue Streams Powering Commerce for Customers

 

1. IC | Engage: Digital Consumer Engagement Driving Sales, Data, and Loyalty

IC Engage powers real-time consumer engagement, driving commerce, capturing valuable first-party data to fuel marketing, and building customer loyalty for brands across web, social, and live event channels.  

As Jill Goldworn, SVP of Sales, explains: “We utilize several tools like promotions, gamification, powerful consumer incentives, data insights, and personalization to accelerate digital consumer engagements for brands that drive meaningful results.” 

Case in point: a global technology leader operates its loyalty program across more than 50 countries. They utilize IC Engage solutions like our always-on instant-win games and large-scale sweepstakes to retain users, re-engage dormant members, and drive digital usage. A recent program awarded a life-changing $1 million prize to one user, while tens of thousands more redeemed points for chances to win $10,000 prizes, country-specific experiences, and more in multiple countries. 

“Whether our solutions are embedded in loyalty programs, social platforms or operating in over 10,000 live events… It’s not just about entertainment—it’s smart marketing”, says Jill. “These campaigns drive commerce, reduce churn, increase time spent in-app, and deliver rich first-party data to fuel ongoing marketing and build customer loyalty.”  

2. IC | Mobile Messaging: Real-Time Messaging Enabling Commerce

As digital consumer touchpoints proliferate, brands must deliver timely, compliant communication across various platforms. That’s where IC Mobile comes in. IC Mobile delivers transactional, security, and marketing messages to enable brands to engage with Canadian consumers.  As one of only three Tier-One mobile aggregators in Canada, it is the only one with 100% data processing and residency in Canada, which is crucial for enterprise customers operating in regulated industries such as healthcare, finance, and government. 

“All of our solutions are immediate, measurable, and easy to integrate,” says Chris McGarrigle, SVP/CTO IC Mobile. “Beyond speed and scale, IC Mobile is built for precision. Whether it’s a 2-factor security message to access a bank account, a transaction receipt for an e-transfer, a prescription reminder, a last-mile delivery alert, or a marketing offer to drive commerce, enterprise customers trust IC Mobile to deliver messages to the right consumer, quickly and securely.” 

IC Mobile’s infrastructure processed 120% more messages in Q4 2024 compared to the same period a year prior, thanks to growing demand for scalable, compliant messaging solutions.  

“The future of messaging lies in Apple’s announcement last year that it will support Rich Communications Services on its devices to incorporate more visually rich content and video in messaging. This unlocks a huge opportunity to improve the consumer experience and expand mobile messaging in this fast-growing channel”, says Chris.  

3. Specialty Insurance: Protecting Live Events and Bold Ideas

IC | Insurance (ICI) enables commerce at live events by providing risk management and insurance solutions.  “Simply put, live events like concerts, music festivals, or sporting events can’t go on without insurance,” says David Sasaki, President of ICI. “There are many risk factors impacting live events such as weather, key performer no-shows, vendors, venues, travel schedules, political unrest, or the liability associated with hosting large, passionate crowds, to name a few. We’re experts in this space and we simplify the process of mitigating these risks for brand sponsors and live event operators alike”. 

ICI has delegate underwriting authority from Lloyd’s of London to provide insurance solutions in over 60 countries, without assuming financial risk on IC Group’s balance sheet. “This speaks volumes about ICI’s expertise and experience”, says Sasaki. 

“Insuring live event experiences and bold promotional campaigns that generate buzz, boost loyalty, and create unforgettable moments for consumers makes us unique and different,” says Sasaki. “Whether it’s a cancelled event, a hole-in-one, a million-dollar contest, or a half-court shot—if there’s a claim or someone wins, we write the check,” says David Sasaki, President of ICI. “We’ve been making these moments possible for over a decade.” 

Why Investors Should Pay Attention

IC Group’s proven business translates to a powerful, defensible investment thesis: 

• Annual Recurring Revenue
  68% of total revenue is annual recurring revenue, driven by SaaS licenses, messaging contracts, and professional services with long-term customers. 

• Strong Revenue Growth
  56% increase in revenue to $6M in Q1 2025 vs Q1 2024, driven by organic growth. 

• Diversified Customer and Market Reach
  From global tech and finance to logistics, retail, and live entertainment, IC Group serves a diverse range of clients, supporting programs in over 30 countries. 

• Strategic M&A
  The 2024 Fannex acquisition provided access to over 85 professional sports teams and more than 10,000 live events, amplifying cross-sell opportunities and brand exposure. 

• Valuation Upside
  IC Group has been trading at a multiple of between 0.5- and 0.9-times revenue, while peers in the MarTech space typically trade at multiples of 1.5 to 6 times revenue.  With strong year-over-year revenue growth and expanding annual recurring revenue (ARR) noted above, IC offers significant potential for multiple expansion. 

Final Thought: A Business Built for What’s Next

IC Group is a partner to the world’s most recognizable brands, navigating the next era of marketing technology and innovation, consumer engagement, and risk management, all of which drive commerce.  As the landscape shifts, IC’s proven solutions are purpose-built for scale, security, real-time results, and long-term value. 

For investors, it represents a rare blend of predictability, profitability, and untapped growth. 

 

IC Group Holdings Inc.
Simplifying Engagement. Powering Commerce.