What Razom Group does

Razom Group is a privately-held Ukrainian advertising and communications holding founded in 1999, headquartered in Kyiv, and operating as an ecosystem of seven specialized agency brands. The holding combines three media agencies (Initiative, UM Ukraine, and Havas Media Ukraine, the latter two operating under global franchises with HAVAS and IPG) with four specialist units: MADLAB for data science and analytics, CAMEO for non-standard branded content and sports/esports marketing, MORE for performance marketing, and AICON for AI-powered content generation. Razom serves 80+ national and international enterprise clients across FMCG, retail, beverage, pharmaceutical, automotive, and consumer goods sectors, executing 100+ integrated campaigns annually across 50+ media channels spanning digital, ATL, BTL, and DOOH.

The company's underlying technology stack combines proprietary AI content generation (AICON covering text, image, video, audio, and multimodal outputs), econometric and marketing mix modeling with scenario forecasting (MADLAB), full-funnel performance marketing with end-to-end attribution (MORE, integrated with KeyCRM, Meta Ads, and Google Ads), and interactive brand control panels for KPI monitoring. Razom makes money through B2B professional services on a quote-based pricing model tailored to campaign scope and media budgets, with revenue derived from media planning and buying commissions, data analytics and consulting fees, AI content production, and performance marketing services. Distribution is sales-led via direct enterprise relationships and dedicated account management, supplemented by industry positioning through IAB Ukraine ratings, Effie Awards, and VRK coalition participation.

The business is led by CEO Arman Matkulov with a specialized C-suite including Chief Data Science and R&D Officer, Chief Digital Buying Officer, Chief Investment Officer, Chief Performance Officer, and Managing Directors for each franchise brand. In 2025-2026 the group underwent leadership restructuring (appointments of Mila Krutchenko and Anna Bratko), launched AICON, and executed a corporate rebranding in March 2026 to reflect its evolution into a next-generation holding. Revenue is not publicly disclosed and ownership remains private with no parent company or external investor identified.

Name

Razom Group

Legal name

Limited Liability Company "RAZOM COMMUNICATIONS" (Товариства з обмеженою відповідальністю «РАЗОМ КОМ'ЮНІКЕЙШНЗ»)

Website

https://rzm.com.ua

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Razom Group is a privately-held Ukrainian advertising holding operating seven specialized agency brands (media, data science, performance, AI content, branded entertainment) under global HAVAS and IPG franchises. It serves 80+ enterprise clients with integrated advertising, data analytics, and AI-powered content services.

Ownership category

akta.pro rank

Product category

Advertising Services

NAICS

Advertising Agencies (541810), Advertising Agencies (54181), Media Buying Agencies (54183)

SIC

Services-Advertising Agencies (7311), Services-Advertising (7310)

akta.pro primary industry

Lead Generation & Performance Media (B2B/B2C) (MPAAACAK)

akta.pro secondary industry

Search Engine Marketing (SEM) Media Buying (MPAAABAC)

Keywords

• Advertising services
• Media planning
• Performance marketing
• Data analytics
• AI content generation

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Media Planning and Buying Services: Traditional and digital media planning, buying, and campaign management across TV, digital, outdoor, radio, and indoor channels.
2. Data Analytics and Consulting: Data science, business analytics, marketing mix modeling, and strategic consulting services.
3. AI Content Production: AI-generated content production including video, images, text, and personalized marketing materials.
4. Performance Marketing Services: Digital performance campaigns, lead generation, conversion optimization, and ROAS-driven marketing.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Razom Group is a Ukrainian advertising and communications holding that combines global media agency franchises (HAVAS, IPG/UM) with proprietary digital agencies (Initiative, MADLAB, MORE, CAMEO, AICON). It delivers full-cycle advertising services including media planning and buying, data-driven analytics, AI-powered content generation, performance marketing, and non-standard branded entertainment for enterprise brands across Ukraine.

Product overview

Razom Group is a next-generation advertising and communications holding company operating across both digital and traditional media ecosystems. It functions as an ecosystem of seven agency brands — three media agencies (Initiative, UM, Havas Media Ukraine) and four specialized units (MADLAB, MORE, AICON, CAMEO) — unified under global franchises HAVAS and IPG with its own digital ecosystem. The holding combines strategic thinking, data-driven approaches, innovative technologies, and creative solutions to build effective advertising campaigns. The portfolio includes media planning and buying, data science and analytics, performance marketing, AI-powered content generation, and non-standard branded entertainment. Clients can engage individual specialized agencies or access the full integrated ecosystem through the holding.

Differentiator

Problem solved

Functional benefit

Brands

• Initiative: Media agency specializing in strategic communication planning, campaign execution, analytics, ROI measurement, performance, and social marketing.
• UM
• Havas Media
• MADLAB
• CAMEO
• MORE
• AICON

Products and services

• Initiative Media agency specializing in strategic communication planning, campaign execution, analytics, ROI measurement, performance, and social marketing. Uses the international Fame & Flow methodology to build strategies that increase brand awareness and generate customer flow. The only Ukrainian media agency that is a participant of Global Effie.
• UM Media agency specializing in strategic media planning, advertising procurement across TV, digital, social media, outdoor advertising, OLV/OTT, radio, and indoor channels, influencer marketing, and non-standard integrations. Implements Brand Patterns concept at the intersection of human and artificial intelligence.
• Havas Media Ukraine International media agency with expertise in media planning, advertising procurement, strategic communication, and analytics. Provides creative strategy, research, production, econometric modeling, SEO, and influencer marketing services. Combines global approaches with deep understanding of local market.
• MADLAB Innovative data science and analytics unit combining scientific approach to data, Data Science tools, Machine Learning, and AI modeling. Provides full cycle data work from collection and processing to building predictive models and customized R&D products. Services include econometric modeling, marketing mix modeling, scenario forecasting, dashboards, and business consulting.
• MORE Performance marketing unit providing full-cycle marketing funnel management from brand awareness to lead generation, conversions, and sales growth. Combines analytics, automation, media, and data-driven planning for effective, measurable campaigns with high ROI/ROAS. Services include performance strategy development, paid media campaigns, ASO/SEO, end-to-end analytics, and automation.
• AICON First AI content agency in Ukraine. Specializes in instant content production using AI including generation of photos, video, storyboards, voice, and music. Combines traditional creative practices with AI technologies providing brands with speed, adaptability, and relevance in fragmented media landscape.
• CAMEO Non-standard advertising projects agency creating content for TV, IPTV/OTT platforms, and esports. Integrates brand communication into modern media formats with creative solutions for audience engagement and brand awareness. Specializes in branded content, TV production, OTT/IPTV solutions, and innovative media formats.

Quantifiable outcome

• Initiative: NPS 9.7 among clients
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability8 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• HAVAScoreStrategic or Co-development PartnerGlobal media agency franchise partnership. HAVAS is an international media agency with 18+ years of experience in Ukraine, combining global approaches with local market understanding. Operates as HAVAS Media Ukraine under Razom Group.
• IPG (Interpublic Group)coreStrategic or Co-development PartnerInternational media holding partnership through IPG franchise. UM Ukraine operates under this partnership, ranking No. 3 among Ukrainian media agencies with 18+ years of market presence and 20 Effie Awards.
• IAB UkrainecoreStrategic or Co-development PartnerIndustry association partnership for media agency ratings and standards. Razom Group agencies (Initiative, UM, HAVAS, MORE, CAMEO, MADLAB) participate in IAB Ukraine ratings and rankings.
• VRK (All-Ukrainian Advertising Coalition)coreStrategic or Co-development PartnerIndustry coalition partnership. Razom Group agencies ranked in VRK Advertisers' Choice rankings. Alina Kotenko (Managing Director of Initiative) serves on VRK Supervisory Board for 2025-2027.

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Emerging players

• Stagwell: Challenger advertising holding company assembling digital, media, and creative agencies. Comparable as an alternative holding structure to Razom Group, with focus on technology-enabled marketing services and lower-overhead operating model.

Broad incumbents

• Havas: Global advertising holding that is Razom's strategic franchise partner for Havas Media Ukraine. Havas operates both directly and through franchise partners globally, comparable to Razom's hybrid owned-franchise holding model.
• Omnicom Group: Global advertising holding operating media agencies (OMD, PHD, Hearts & Science) under Omnicom Media Group that compete with Razom's media agency portfolio in Ukraine and globally.
• Interpublic Group (IPG): Global advertising holding that is Razom's strategic franchise partner for UM Ukraine and Initiative. Operates competing media agencies globally and is comparable in scale and structure as an advertising holding with both owned and franchised agency assets.
• WPP plc: World's largest advertising holding company. Operates media agencies (Mindshare, MediaCom, Wavemaker) under GroupM that directly compete with Razom Group's Initiative, UM, and Havas Media in Ukraine and globally for multinational client budgets.
• Publicis Groupe: Global advertising holding operating media agencies (Starcom, Zenith, Spark Foundry) under Publicis Media that directly compete with Razom Group's media agency portfolio in the Ukrainian market and globally for multinational client accounts.
• Dentsu: Global advertising holding operating Dentsu X and Dentsu Creative that directly competes with Razom Group in the Ukrainian market and globally for digital, creative, and media mandates.

Direct peers

• Publicis Media: Publicis Groupe's media operations including Starcom, Zenith, and Spark Foundry. Direct competitor to Razom's media agency units in the Ukrainian market for global brand mandates and structurally similar as a media-focused agency network within a larger holding.
• GroupM: WPP's media investment network operating Mindshare, MediaCom, and Wavemaker. Directly competes with Razom's media buying agencies (Initiative, UM, Havas Media) for Ukrainian advertising budgets and operates with a similar media-focused holding structure.
• Omnicom Media Group: Omnicom Group's media agency network including OMD, PHD, and Hearts & Science. Direct competitor to Razom's media buying agencies in Ukraine with similar structural setup as a media-focused agency network within a larger advertising holding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/razomua
• LinkedInlinkedin.com/company/razom-communications
• Instagraminstagram.com/razom.group

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Razom Group