Apiary invests in life sciences marketing specialist performance-io

Private equity firm Apiary Capital backs rapid growth of performance-i

Apiary Capital has completed its investment in performance-io (PIO), a leading life sciences performance marketing and search engine optimization agency, supporting its international expansion and service growth.

London-based PIO employs more than 60 people globally, with teams across the UK, US, India, Japan and South Africa. Since launching in 2018, it has established itself as the first specialist SEO agency operating in the regulated pharma space.

CEO and founder Matt Lowe said: “for me it was about time in the market and timing the market. We have in no small way created the marketplace for SEO in pharma and it felt like the right time to find the right partner to ensure we establish ourselves as the Global standard in online performance, SEO and optimized content. After a long and deliberate process, we are convinced the team at Apiary will be the perfect partners for PIO.”

Apiary’s investment will accelerate PIO’s expansion in the US and Japan and support the adoption of AI-enabled SEO solutions. PIO is pioneering search generative experience (SGE) strategies that help clients maximize online performance while cutting costs.

CCO Jason Brown said: “PIO is perfectly positioned to grow our market offering in line with the demand from our clients, all of whom are trying to harness new and evolving AI technologies to drive efficiencies whilst driving growth.”

The investment comes from Apiary’s second fund, which closed in 2024. Jess French, director at Apiary, said: “We’re incredibly excited to partner with Matt, Jason, and the entire PIO team. This is exactly the kind of business Apiary seeks to invest in: founder-led, clearly differentiated, and focused on delivering real, measurable value to its clients.”