Two Circles

Two Circles

Two Circles launched in 2011 under co-founders Gareth Balch and Matt Rogan. The pair previously worked together at the sports marketing agency Fast Track, spotting an opportunity to build a firm around the data exhaust of sports franchises — ticket scans, merch clicks, streaming pauses — rather than the traditional agency playbook of brand campaigns and logo slaps. The firm is headquartered in London with offices in New York, Los Angeles, Paris, and Bern. The firm operates as a hybrid consultancy and managed-service provider: it ingests client CRM, ticketing, and digital-platform data, then runs analytics to segment fans by predicted lifetime value and churn risk. Deployment flows into three areas — direct-to-fan digital marketing campaigns, dynamic pricing models for tickets and hospitality, and sponsorship-valuation engines that link brand exposure to downstream ticket purchase behavior. Two Circles has worked with the NFL, Premier League, Formula 1, UEFA, and Wimbledon, among others, and advised over 900 sports properties since inception. In August 2023, private equity firm Charterhouse Capital Partners acquired a majority stake in Two Circles at a reported valuation around £250 million (per Sky News, 2023). At the time, the firm employed roughly 350 people. Gareth Balch retained a significant minority position and continued as CEO. The Charterhouse partnership signaled an intent to accelerate the firm's proprietary technology stack — a platform called 'Two Circles Intelligence' that bundles its data models — and to deepen its presence in North American professional and college sports. Two Circles sits at the intersection of sports rights-holders and technology vendors, but unlike most vendors it does not sell software licenses. It sells outcomes: higher season-ticket renewal rates, bigger sponsorship deals, more merch conversions. That outcome-based pricing model, combined with direct data access to fan-level behavior, creates switching costs that a standard creative agency or SaaS dashboard cannot replicate. The Charterhouse backing adds a private-equity discipline to an already metrics-focused operating philosophy, positioning the firm to consolidate a fragmented sports-analytics middle market.