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Market Research / GEO/AEO History

The Agency Gold Rush

2023–2026

How agencies, holding companies, consultancies, and software vendors moved into GEO and AEO between 2023 and 2026, with the acquisitions and funding rounds that built a market around the practice.

By TGA EditorsOctober 30, 20264 min read

Between 2023 and 2026, several kinds of companies began selling the same service. Digital agencies added GEO and AEO to their SEO work, holding companies built practices and bought specialists, software vendors raised venture capital for platforms that measure how AI systems describe a brand, and the largest marketing software companies acquired some of those vendors outright. The first recorded GEO service, launched in May 2023, is covered in The Origins of GEO. The sections below follow what came after, in the order the deals and launches happened.

Timeline from 2023 to 2026 showing Brandtech's acquisition of Jellyfish, Gartner's forecast of a decline in search volume, Jellyfish's Share of Model platform, three agency transactions in July 2025, Profound's Series B, Omnicom Media Group's GEO report, Adobe's agreement to acquire Semrush, and Profound's Series C
Selected acquisitions, funding rounds, and agency launches in GEO and AEO, 2023 to 2026.1,2,3,4,5,6,7,8,9,10

June 2023 to December 2024: Jellyfish Joins Brandtech and Studies Model Perception

On June 1, 2023, The Brandtech Group announced that it had acquired 100 percent of Jellyfish, a digital marketing agency founded in 2005 by Rob Pierre. The combined group had more than $1 billion in revenue and more than 7,000 employees, and Jellyfish accounted for more than 2,000 of them across 38 offices.1

On December 5, 2024, Jellyfish announced the Share of Model Platform, an interface that lets a company analyze how different large language models perceive its brands, products, and services. Jellyfish said that in beta trials the platform helped brands adjust their keyword strategy and the text and image assets on their websites.3

February 2024: Gartner Forecasts a Drop in Search Volume

On February 19, 2024, Gartner published a prediction that traditional search engine volume would fall 25 percent by 2026, because of AI chatbots and other virtual agents.2 Data on how people used Google and how often they clicked in 2025 and 2026 appears in Google Answers Back.

2024 to 2026: Venture Capital Reaches the Tools

Profound was founded in August 2024 in New York City by James Cadwallader and Dylan Babbs.11 In June 2025 it announced a $20 million Series A led by Kleiner Perkins.12 Scrunch followed on July 22, 2025, with a $15 million Series A led by Decibel, with participation from Mayfield and Homebrew.[^scrunchA] On August 12, 2025, Profound announced a $35 million Series B led by Sequoia, bringing its total funding to $58.5 million, and said that more than 2,000 marketers from over 500 organizations used the platform daily.7 The same day, Evertune announced a $15 million Series A led by Felicis Ventures.13

Horizontal bar chart of six funding rounds announced by GEO and AEO software companies between June 2025 and February 2026, in millions of U.S. dollars: Profound Series A 20, Scrunch Series A 15, Profound Series B 35, Evertune Series A 15, Peec AI Series A 21, and Profound Series C 96
Funding rounds announced by GEO and AEO software companies, June 2025 to February 2026, in millions of U.S. dollars.12[^scrunchA]7,13[^peecA]10

Peec AI, based in Berlin, announced a $21 million Series A led by Singular on November 17, 2025, four months after a seed round. Its chief executive, Marius Meiners, said the company's valuation had tripled and was above $100 million.[^peecA] On February 24, 2026, Profound announced a $96 million Series C led by Lightspeed Venture Partners at a valuation of $1 billion, which brought its total funding to more than $155 million. The company said that more than 700 enterprises used the platform.10

July 2025: Agencies Combine

Three agency transactions were announced in the first ten days of July 2025. On July 1, Adogy and Relevance announced a merger to form a company specializing in GEO, which combined Adogy's AI visibility technology with Relevance's public relations practice.4 On July 9, SEO consulting firm Previsible, founded in 2021 by Jordan Koene, Tyson Stockton, and David Bell, announced that it had acquired Internet Marketing Ninjas, an SEO agency founded in 1999 by Jim Boykin.5 On July 10, the French performance marketing group Labelium announced the acquisition of reegen.ai, a GEO firm, and appointed its founder, Ben Gibson, as UK chief executive.6

In two of the three, an established agency bought a smaller specialist, and in the third two specialists combined. Previsible's announcement described the purchase as uniting two firms that provide traditional and AI SEO strategy.5

October 2025 to September 2026: Holding Companies Build Practices

On October 7, 2025, Omnicom Media Group published a report called Generative Engine Optimization: The New Paradigm for Discovery in the GenAI Era, which said GEO had become the baseline for discoverability and described consumers who expect their answers from AI overviews without clicking through.8 On November 26, 2025, Omnicom completed its acquisition of Interpublic, with a combined pro forma revenue above $25 billion.14

On February 4, 2026, Taylor Herring announced Cite:d with Performics, the performance marketing arm of Publicis Groupe. The UK offer gives Taylor Herring's Newsroom division access to data on more than 46 million UK consumers and builds campaigns intended to raise citation rates in AI search. The announcement reported early tests with easyJet and easyJet holidays on ChatGPT, Google AI Mode, Meta AI, and Copilot.15 On September 30, 2026, Dentsu India announced an expanded GEO practice built on dentsu Search Intelligence and the dentsu AI Search Suite.16

Publicis Groupe Announces Cite:d

Top of the Publicis Groupe UK news page announcing Taylor Herring's partnership with Performics to launch Cite:d, an end-to-end GEO solution for AI search
The announcement of Cite:d on the Publicis Groupe UK site, February 4, 2026.15

October 2025 to April 2026: HubSpot and Adobe Buy Into the Category

In October 2025, HubSpot announced an agreement to acquire XFunnel, a platform that monitors how a business appears in AI answers, with the intention of building it into its marketing products. The announcement did not disclose a price and described the buyer's own AEO strategy and AEO referral features.17

On November 19, 2025, Adobe and Semrush announced a definitive agreement under which Adobe would acquire Semrush in an all-cash transaction at $12.00 per share, a total equity value of approximately $1.9 billion. The release described Semrush as a brand visibility platform and said that organizations investing in GEO alongside SEO were positioned to keep their brands represented as consumers turn to large language models.9 Adobe completed the acquisition on April 28, 2026. In that release Adobe reported that AI traffic to U.S. retail sites had increased 269 percent year over year in March 2026, and described solutions for SEO, GEO, and agentic search optimization to close gaps in brand visibility.18

Adobe Announces It Will Acquire Semrush

Top of Adobe's November 19, 2025, press release announcing that it will acquire Semrush
The opening of Adobe's announcement of the Semrush agreement.9

October 2026: Who Owns the Agencies

By October 2026 the agencies selling GEO and AEO covered the full range of ownership. TGA's ownership map sorts 61 agencies into 14 owned by corporate parents or holding companies, 16 backed by private equity, 30 independent, and one venture-backed.19 TGA also ranks agencies by public evidence of ChatGPT ads work.20 That advertising is covered in Advertising Inside the Answer.

Map of 61 GEO and AEO agencies grouped as corporate or holding-company owned, private equity backed, independent, or venture-backed, with each agency's marker sized by approximate headcount
The GEO/AEO Agency Ownership Universe, 2026, from TGA's ownership research.19

Key Organizations

Key Organizations in The Agency Gold Rush, 2023 to 2026

OrganizationRole in this periodKey dates
AdobeAgreed to acquire Semrush and completed the purchase.9,18November 19, 2025, and April 28, 2026
The Brandtech GroupAcquired Jellyfish.1June 1, 2023
Dentsu IndiaExpanded a GEO practice.16September 30, 2026
EvertuneRaised a $15 million Series A led by Felicis Ventures.13August 12, 2025
GartnerForecast a 25 percent drop in traditional search volume by 2026.2February 19, 2024
HubSpotAgreed to acquire XFunnel.17October 2025
JellyfishLaunched the Share of Model Platform.3December 5, 2024
LabeliumAcquired reegen.ai.6July 10, 2025
OmnicomPublished a GEO report and completed its acquisition of Interpublic.8,14October 7 and November 26, 2025
Peec AIRaised a $21 million Series A led by Singular.[^peecA]November 17, 2025
PrevisibleAcquired Internet Marketing Ninjas.5July 9, 2025
ProfoundRaised Series A, B, and C rounds totaling more than $155 million.12,7,10June 2025 to February 24, 2026
Publicis GroupeLaunched Cite:d through Performics and Taylor Herring.15February 4, 2026
ScrunchRaised a $15 million Series A led by Decibel.[^scrunchA]July 22, 2025
SemrushWas acquired by Adobe for about $1.9 billion in equity value.9,18November 19, 2025, and April 28, 2026

Next Chapter: Advertising Inside the Answer

Further reading

Notes

  1. "The Brandtech Group acquires 100% of Jellyfish, creating the world's No1 digital-only marketing group," The Brandtech Group, June 1, 2023. https://thebrandtechgroup.com/wp-content/uploads/2023/06/JF-Global-final-1.pdf
  2. Gartner, "Gartner Predicts Search Engine Volume Will Drop 25% by 2026, Due to AI Chatbots and Other Virtual Agents," press release, February 19, 2024. https://www.gartner.com/en/newsroom/press-releases/2024-02-19-gartner-predicts-search-engine-volume-will-drop-25-percent-by-2026-due-to-ai-chatbots-and-other-virtual-agents
  3. "AI is influencing consumer behavior, so the way LLMs 'think' about your brand is more important than ever," Jellyfish, announcement of the Share of Model Platform, December 5, 2024. https://www.jellyfish.com/en-gb/news/jellyfish-launches-the-share-of-model-platform/
  4. "AI Visibility Powerhouse Formed by Adogy-Relevance Merger," Relevance, July 1, 2025. https://www.relevance.com/ai-search-powerhouse-formed-by-adogy-relevance-merger/
  5. "Previsible's Acquisition of Internet Marketing Ninjas Unites Two Leading SEO & AI Search Firms," PR Newswire, July 9, 2025. https://www.prnewswire.com/news-releases/previsibles-acquisition-of-internet-marketing-ninjas-unites-two-leading-seo--ai-search-firms-302498022.html
  6. "Labelium acquires reegen.ai & names Ben Gibson UK chief executive," Ecommerce News UK, July 10, 2025. https://ecommercenews.uk/story/labelium-acquires-reegen-ai-names-ben-gibson-uk-chief-executive
  7. "Profound Raises $35M Series B as AI Search Becomes the Next Platform Shift," Profound, August 12, 2025. https://www.tryprofound.com/newsroom/profound-raises-35m-series-b-as-ai-search-becomes-the-next-platform-shift
  8. "New Report From Omnicom Media Group Provides a Roadmap for Marketers in the Brave New World of Gen AI Search," PR Newswire, October 7, 2025. https://finance.yahoo.com/news/report-omnicom-media-group-provides-171500493.html
  9. "Adobe to Acquire Semrush," Adobe, November 19, 2025. https://news.adobe.com/news/2025/11/adobe-to-acquire-semrush
  10. "Profound Raises Series C at $1B Valuation to Lead a New Category of Marketing," Profound, February 24, 2026. https://www.tryprofound.com/newsroom/profound-raises-series-c-at-1b-valuation-to-lead-a-new-category-of-marketing
  11. Profound, official company information page (founded August 2024 in New York City by James Cadwallader and Dylan Babbs), updated September 2026. https://www.tryprofound.com/ai-instructions
  12. Profound, Series A announcement ($20 million led by Kleiner Perkins), June 18, 2025. https://www.tryprofound.com/blog/series-a
  13. "Evertune Raises $15 Million Series A to Scale Its AI Marketing and Discovery Platform," GlobeNewswire, August 12, 2025. https://www.globenewswire.com/news-release/2025/08/12/3132022/0/en/evertune-raises-15-million-series-a-to-scale-its-ai-marketing-and-discovery-platform.html
  14. "Omnicom Completes Acquisition of Interpublic," Omnicom, November 26, 2025. https://www.omc.com/newsroom/omnicom-completes-acquisition-of-interpublic-forming-the-worlds-leading-marketing-and-sales-company-built-for-intelligent-growth-in-the-next-era/
  15. "Taylor Herring Partners with Performics to launch Cite:d, an End-to-End GEO Solution for AI-Search," Publicis Groupe UK, February 4, 2026. https://www.publicisgroupeuk.com/news-and-views/news/taylor-herring-partners-with-performics-to-launch-cited-an-end-to-end-geo-solution-for-ai-search/
  16. "Dentsu India Expands Generative Engine Optimization Practice to Help Brands Compete in the AI Discovery Economy," Dentsu India, September 30, 2026. https://www.dentsu.com/in/en/our-news/dentsu-india-expands-generative-engine-optimization-practice
  17. "HubSpot to Acquire XFunnel," HubSpot, October 2025. https://www.hubspot.com/company-news/hubspot-to-acquire-xfunnel
  18. "Adobe Completes Semrush Acquisition, Strengthening CX Enterprise with Enhanced Brand Visibility Capabilities," Adobe, April 28, 2026. https://news.adobe.com/news/2026/04/adobe-completes-semrush-acquisition.html
  19. TGA, "Who Owns the GEO/AEO Agencies? The 2026 Ownership Map," October 2026. /research/who-owns-geo-aeo-agencies-2026
  20. TGA, "ChatGPT Ads Agencies Ranked by Public Evidence, October 2026." /research/chatgpt-ads-agencies-2026