What IC Group Holdings does

IC Group Holdings Inc. (TSXV: ICGH) is a Canadian consumer engagement holding company headquartered in Winnipeg, founded circa 1990 and operating through three core divisions plus an acquired SaaS platform: IC Engage (gamified digital promotions and custom MarTech), IC Mobile (Tier 1 Canadian A2P messaging aggregation), IC Insurance (specialty underwriting for live events), and the Fannex live fan engagement SaaS platform acquired in February 2025. The company serves Fortune 500 brands, professional sports teams and leagues, regulated enterprises, and government bodies across more than 30 countries; named customers include Microsoft (as a Verified Microsoft Prize Partner), Ford, McDonald's Canada, Bausch + Lomb, Air Canada, Lululemon, Home Depot, Subway, the Toronto Blue Jays, the Winnipeg Jets, the Orlando Magic, Hockey Canada, OLG, TTC, Interac and Wild Fork. The technology stack combines a Tier 1 carrier-grade messaging infrastructure — with direct connections to Bell, Rogers, TELUS and SaskTel held since 2003, 99.99% uptime SLA, 100% Canadian data residency, and AI-based message inspection and categorization — with the Fannex cloud-based live-event SaaS deployed across 95+ professional sports teams and 20,000+ activations, plus an in-house Automated Billing Engine for real-time telecom billing. Compliance frameworks include ISO/IEC 27001 certification, CASL/PIPEDA/CRTC/GDPR adherence, 100% Canadian Wireless Telecommunications Association program approval rate, PCI DSS / SOC 2 / HIPAA alignment, and CLNPC/NPAC membership. Revenue is generated through a hybrid model spanning approximately 68% annual recurring revenue, per-message A2P transaction fees, custom MarTech professional services, Fannex SaaS subscriptions, and specialty insurance premiums, with distribution through direct enterprise sales, a channel partner ecosystem (Concentrix, Loyalty Methods, Incomm, Epsilon, Helix Global Solutions, Marsh) and self-serve developer APIs. FY2025 revenue reached $26.9M (+50% YoY) with Q1 FY2026 revenue of $7.8M (+29% YoY), and approximately 86% of the most recent quarter's growth was organic.

Name

IC Group Holdings

Legal name

IC Group Holdings Inc.

Website

https://icgroupinc.com

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

101–250 employees

Short description

IC Group Holdings (TSXV: ICGH) is a Canadian consumer engagement holding company operating IC Engage (gamified promotions), IC Mobile (Tier 1 A2P messaging), IC Insurance (specialty underwriting), and Fannex (live-event SaaS) for Fortune 500 brands and professional sports teams.

Ownership category

akta.pro rank

Product category

Marketing Technology Services

NAICS

Software Publishers (513210), Miscellaneous Financial Investment Activities (523999), Portfolio Management and Investment Advice (523940), Insurance Carriers and Related Activities (524), Information (51), Newspaper, Periodical, Book, and Directory Publishers (5131)

SIC

Services-Direct Mail Advertising Services (7331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Instrumentation, Controls & Automation Engineering Consulting (BPAHAIAM)

akta.pro secondary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Consumer engagement solutions
• Digital marketing technology
• Mobile messaging aggregation
• Live fan engagement
• Specialty event insurance

Headquarters

HQ city

Winnipeg

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Annual Recurring Revenue (ARR): Approximately 68% of IC Group's revenue in fiscal 2025 was annual recurring revenue, providing a stable base across IC Engage, IC Mobile, and IC Insurance engagements with Fortune 500 brands.
2. Tier 1 A2P Messaging — Usage/Transaction Fees: IC Mobile generates revenue from per-message A2P SMS/MMS/RCS/Apple Business Messaging/WhatsApp traffic at tiered per-carrier, per-message-type rates, billed via an automated billing engine with volume-based customer-specific plans. Revenue scales with message volume routed through Tier 1 Canadian carrier connections.
3. Custom Marketing Technology (MarTech) Solutions: Professional services revenue from designing and building custom on-brand gamification, loyalty and rewards, data/identity, and risk/compliance solutions for enterprise clients (e.g., Microsoft Rewards administration, Bausch + Lomb, Wild Fork, Lumify campaigns).
4. Live Event Fan Engagement & Data Monetization: SaaS platform (Fannex) revenues from live sporting and entertainment event activations, complemented by sponsorship monetization and first-party data capture sold to brands and teams (e.g., 2025 World Juniors deployment).
5. Specialty Insurance Premiums & Underwriting: IC Insurance provides specialty insurance for sports events, entertainment tours, venue experiences, conferences, trade shows, and live event operators/sponsors/brands with global underwriting authority; generates premium and managed services revenue.
6. Prizing & Risk-Free Rewards Revenue: Insured, risk-free prize pool solutions (e.g., $2M Microsoft Rewards Total Prize Drop) that monetize the "Lottery Effect" with insured rewards — premium/insurance-backed prizing sold as a managed offering to brand partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

IC Group Holdings delivers global consumer engagement solutions through three operating divisions: IC Engage (gamified digital promotions, live fan engagement via the Fannex SaaS platform, and custom MarTech solutions for Fortune 500 brands and sports organizations), IC Mobile (Tier 1 Canadian A2P messaging aggregator providing SMS/MMS, RCS, Apple Business Messaging, WhatsApp for Business, and messaging/verification APIs with direct carrier connections), and IC Insurance (specialty underwriting and risk management for live events, sports, and entertainment). Approximately 68% of revenue is annual recurring revenue under multi-year contracts.

Product overview

IC Group Holdings (TSXV: ICGH) is a publicly traded holding company that delivers global consumer engagement solutions through a platform-plus-divisions architecture, organizing its offerings around three core operating divisions — IC Engage, IC Mobile, and IC Insurance — supported by the acquired Fannex SaaS platform and the Experience Hub showcase. IC Engage sits at the top of the stack as the engagement-and-promotions arm, providing gamified digital promotions, live fan engagement (powered by Fannex), and custom MarTech solutions such as loyalty and rewards programs for Fortune 500 brands. IC Mobile provides the underlying messaging infrastructure layer, offering SMS/MMS, RCS, Apple Business Messaging, WhatsApp for Business, and messaging/verification APIs with direct Tier 1 carrier connections across Canada, also serving as the technology backbone that enables IC Engage's high-volume fan engagement messaging. IC Insurance provides specialty risk-management and insurance products for the live event operators, sports associations, sponsors, and brands that IC Engage and Fannex serve. Fannex, acquired in February 2025, is the live-event SaaS layer that turns in-venue video displays and fan mobile devices into engagement, commerce, and data tools for 95+ professional teams across the NFL, NHL, NBA, NCAA, and minor league sports. The Experience Hub serves as a public-facing showcase of these experiences.

Differentiator

Problem solved

Functional benefit

Brands

• IC Engage: Consumer engagement solutions including gamified digital promotions, live fan engagement, and custom MarTech solutions for Fortune 500 brands and sports/entertainment organizations.
• IC Mobile
• IC Insurance
• Fannex

Products and services

• IC Engage IC Group's engagement-focused division that designs and delivers gamified digital promotions, live fan engagement, and custom marketing technology (MarTech) solutions for Fortune 500 brands and major sports/entertainment organizations.
• IC Mobile Enterprise-grade, compliant Tier 1 messaging provider directly connected to all major Canadian carriers since 2003, offering SMS/MMS, RCS, Apple Business Messaging, WhatsApp for Business, and messaging/verification APIs with 100% Canadian data residency and a 99.99% uptime SLA.
• IC Insurance Specialty insurance division providing risk management solutions for live event operators, sport associations, sponsors, and brands, with global underwriting authority and more than 30 years of industry experience protecting sports events, entertainment tours, venue experiences, conferences, and trade shows.
• Fannex SaaS platform acquired by IC Group in February 2025 that enhances fan engagement at live sporting and entertainment events. Currently utilized by 95+ professional teams and live event operators in North America and Europe, it captures fan engagement, sponsorship value, and first-party data across venues, with 20,000+ live event activations spanning NFL, NHL, NBA, NCAA, and minor league sports.
• Digital Promotions Suite of gamified digital promotion mechanics under IC Engage including Instant Win Games, Sweepstakes, Risk-Free Rewards, Social Media Promotions, and digital Rebates that drive participation and measurable ROI for brand campaigns.
• Live Engagement Platform Live event engagement platform (powered by Fannex) that delivers branded, interactive games and content via venue video displays and fan mobile devices to drive sponsor visibility, commerce, first-party data, and real-time insights, utilized by 95+ professional teams and live event operators in North America and Europe.
• Custom MarTech Solutions Bespoke marketing technology solutions spanning Engagement & Gamification, Loyalty & Rewards, Data Identity & Insights, Prizing Strategy, and Risk/Compliance/Global Execution, delivering tailored experiences for enterprise clients integrated with their existing technology environments.
• SMS/MMS Messaging Carrier-grade A2P SMS/MMS delivery with 99.99% uptime SLA; supports short code, toll-free, and long code messaging, long-message concatenation, rich media (MMS), and full compliance with CASL, PIPEDA, and CRTC regulations. Optional AI-based message inspection, sentiment analysis, and categorization available.
• RCS Messaging Rich interactive RCS messaging with buttons, carousels, and embedded media plus automatic fallback to SMS/MMS; AI-based categorization and compliance monitoring; enterprise tools for branded chat, chatbots, and low/no-code SMS-to-RCS conversion.
• Apple Business Messaging Secure customer-initiated conversations in native iOS apps with interactive experiences including authentication, attachments, and scheduling options; seamless integration with Safari, Maps, and MacOS for direct brand communication.
• WhatsApp for Business WhatsApp Business messaging with global reach of over 2 billion users, simple onboarding, flexible message templates, and rich media features including images, buttons, and quick replies; suited for multinational enterprises expanding into the Canadian market.
• Messaging APIs High-throughput A2P messaging endpoints under IC Mobile for sending, receiving, and tracking delivery, with predictable routing and standardized responses across Canadian carriers; optimized for enterprise and aggregator-scale workloads.
• Verification APIs One-time password (OTP) and two-factor authentication (2FA) delivery APIs under IC Mobile with reliable message routing for secure user verification flows.
• Number Lookup & Validation APIs Real-time Home Location Register (HLR) and Local Number Portability (LNP) checks under IC Mobile that detect carrier, line type, and active status to optimize routing and pricing.
• Number Portability Services Direct access to the Canadian NPAC database through CLNPC membership under IC Mobile, ensuring accuracy and delivery across all networks.

Quantifiable outcome

• Q1 2026 revenue up 29% YoY ($6.0M to $7.8M), ~86% organic
• +7 more outcomes

Named customers21 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability2 records

Feature7 records

Partnerships

15 partnerships are on record, tiered capital markets / regulatory partner, flagship / core acquisition, flagship / strategic enterprise customer and long-term partner, strategic technology partner, core channel partner, core strategic partner, supporting partner, flagship tier 1 carrier partner, strategic regional carrier partner and strategic insurance partner.

• TSX Venture Exchange (TSXV)capital markets / regulatory partnerOthers · 4 November 2025IC Group Holdings is publicly traded on the TSX Venture Exchange under symbol ICGH. On November 4, 2025 the company announced a change from relying on the LIFE exemption to conducting a non-brokered private placement of up to C$4,000,000, with proceeds to expand sales, marketing, and technology initiatives; the offering is subject to TSX Venture Exchange approval.
• Emotion Media Inc. (Fannex)flagship / core acquisitionStrategic or Co-development Partner · 19 February 2025IC Group Holdings Inc. acquired Emotion Media Inc. (Fannex), a SaaS platform that enhances fan engagement at live sporting and entertainment events, with the acquisition finalized on February 19, 2025 and announced February 27, 2025. The acquisition expands IC Group's presence in the Fan Engagement Market and leverages Fannex's technology for increased sponsorship revenue and data capture, including recent use at the 2025 World Juniors. Post-acquisition, Kemal Leslie serves as SVP Fannex.
• Microsoftflagship / strategic enterprise customer and long-term partnerStrategic or Co-development PartnerLong-term partner utilizing IC Engage consumer engagement tools to power global loyalty and rewards programs (Microsoft Rewards). IC Engage is a Verified Microsoft Prize Partner administering promotions including the $2M Total Prize Drop, Microsoft Surface Pro Sweepstakes, Xbox Bundle Sweepstakes, and Crater Commander game.
• Twiliostrategic technology partnerTechnology or IntegrationTwilio is a key technology partner powering IC Group's Global Consumer Engagement Solutions, listed as a logo partner on icgroupinc.com.
• Concentrixcore channel partnerChannel Partner/ Reseller/ DistributorConcentrix is listed as a named partner of IC Group's IC Engage division, supporting consumer engagement solutions and enterprise loyalty/Rewards programs.
• Loyalty Methodscore channel partnerChannel Partner/ Reseller/ DistributorLoyalty Methods is listed as a named partner of IC Group's IC Engage division, supporting loyalty and rewards consumer engagement solutions.
• Incommcore channel partnerChannel Partner/ Reseller/ DistributorIncomm is listed as a named partner of IC Group's IC Engage division, supporting payments and consumer engagement integrations.
• Epsiloncore strategic partnerStrategic or Co-development PartnerEpsilon is listed as a named partner of IC Group's IC Engage division, supporting marketing and consumer engagement solutions.
• Helix Global Solutionssupporting partnerImplementation/ SI/ Consulting PartnerHelix Global Solutions is listed as a named partner of IC Group's IC Engage division, supporting implementation and consulting for consumer engagement solutions.
• Bell Canadaflagship tier 1 carrier partnerChannel Partner/ Reseller/ DistributorStrategic partnership that powers IC Mobile's messaging platform with industry-leading network reliability; IC Mobile has direct Tier 1 connections to every major Canadian carrier including Bell, Rogers, TELUS, and regional networks since 2003.
• Rogersflagship tier 1 carrier partnerChannel Partner/ Reseller/ DistributorTier-1 carrier partnership that ensures high-priority delivery for IC Mobile's messaging platform across Canada; part of direct connections to every major Canadian carrier since 2003.
• TELUSflagship tier 1 carrier partnerChannel Partner/ Reseller/ DistributorTier-1 carrier partnership enabling seamless delivery and reach of IC Mobile's messaging platform across Canada; part of direct connections to every major Canadian carrier since 2003.
• SaskTelstrategic regional carrier partnerChannel Partner/ Reseller/ DistributorPartnership providing extensive regional network reach for IC Mobile's messaging platform across Saskatchewan, complementing Tier 1 carrier relationships with Bell, Rogers, and TELUS.
• Marshstrategic insurance partnerStrategic or Co-development PartnerMarsh is a partner of IC Group's insurance division (IC Insurance), supporting distribution and underwriting of specialty insurance solutions for live event operators, sports associations, sponsors, and brands.
• Interacsupporting partnerStrategic or Co-development PartnerInterac is listed as a partner logo on IC Group's consumer engagement platform, supporting Canadian payments and digital engagement integrations.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• MessageBird (Bird): Omnichannel CPaaS offering SMS, WhatsApp, RCS, and email APIs with workflow automation. Directly comparable to IC Mobile's multi-channel messaging stack and to IC Engage's campaign orchestration for enterprise customers.
• Aimia: Canadian loyalty and data analytics company that runs and operates loyalty programs (historically Aeroplan) and provides loyalty strategy, technology, and analytics. Aimia directly overlaps with IC Engage's custom MarTech loyalty and rewards offerings for enterprise clients.
• Second Spectrum: Sports data and live engagement company providing real-time tracking, broadcast, and in-venue fan experiences for pro sports. Second Spectrum overlaps with Fannex's live sports engagement and first-party data capture for teams and leagues.
• Bandwidth Inc. CPaaS and Tier 1 carrier operator offering A2P messaging APIs, verification, and number lookup. Comparable to IC Mobile as a Tier 1 carrier-grade messaging platform serving enterprise and aggregator customers, though Bandwidth also owns its own network.
• Vibes: US-headquartered mobile marketing and A2P SMS/MMS aggregator with carrier-direct relationships and enterprise SaaS tools. Vibes overlaps with IC Mobile's A2P messaging and IC Engage's mobile marketing campaign capabilities for Fortune 500 brands.
• Yinzcam: Mobile app and live sports fan engagement platform powering in-venue and at-home experiences for pro sports teams and leagues. Yinzcam is the closest direct comparable to IC Group's Fannex product, both monetizing live-event data capture and engagement for sports organizations.
• Sinch: Sweden-based global CPaaS and messaging aggregator offering A2P SMS, RCS, WhatsApp, and verification APIs worldwide. Sinch is a direct competitor to IC Mobile's Tier 1 A2P messaging aggregation model, with overlapping carrier-direct, multi-channel messaging and number-lookup services.
• Catalyst (formerly Catalyst Marketing) / Marigold Engage: Loyalty, gamified promotions, and customer engagement platform serving enterprise brands with cross-channel campaign management. Directly comparable to IC Engage's gamified digital promotions, sweepstakes, and loyalty/rewards capabilities for Fortune 500 clients.

Broad incumbents

• Genius Sports: Publicly-traded sports data, fan engagement, and media technology company serving leagues, sportsbooks, and brands globally. Comparable to IC Group's Fannex and IC Engage sports franchise, but at much larger scale and across the broader sports-data value chain.
• Twilio: Global CPaaS leader providing SMS/MMS/RCS messaging APIs, WhatsApp Business, and verification. IC Mobile operates a Tier 1 Canadian A2P messaging platform directly connected to Bell/Rogers/TELUS — a direct functional overlap with Twilio's messaging business, though Twilio is a much larger, broader-stack incumbent (and is even listed as IC Group's technology partner).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/icgroupinc
• Facebookfacebook.com/icgroupdigital
• LinkedInlinkedin.com/company/ic-group
• Instagraminstagram.com/icgroupinc

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IC Group Holdings