Adverity, a leading force in marketing data intelligence and business ready data, today announced a Series C financing round of $30 million, bringing the total amount raised to $50 million. The latest funding round is led by Sapphire Ventures, a Silicon Valley-based venture capital firm, whose prior investments have resulted in more than 55 exits through IPO or acquisition. Also participating are Mangrove Capital Partners, Felix Capital, SAP.iO and aws Gründerfonds who have all re-invested in this latest round.
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Adverity Management Group (Copyright Carina Brunthaler) (Photo: Business Wire)
The Series C funding will help accelerate Adverity’s business growth – including investment in Research & Development and advancing product offerings – furthering its commitment to eliminating the marketing-related data challenges faced by businesses, and to meet increasing demand. Adverity’s clients include global brands and agencies such as IKEA, Red Bull, Unilever, MediaCom and IPG Mediabrands.
The investment will also help Adverity expand its technology and commercial teams both in the US at its New York office location, and globally.
Marketing data is a critical asset in helping businesses pivot, adapt and grow but data complexity is hampering success due to the lack of understanding and ability to incorporate meaningful insights into positive outcomes. Adverity’s AI-powered data integration and marketing intelligence platform, addresses these barriers faced by businesses and offers advanced augmented analytics enabling better decision making and improved marketing performance.
Alexander Igelsböck, CEO and Co-Founder of Adverity, comments: “Our platform plays a crucial role in helping enterprises become agile, empowering digital teams with intelligent insights. It is imperative we invest in evolving and developing new solutions, improving access and quality, and tackle the challenges of data complexity. With the support of Sapphire Ventures, we’re confident we’ll continue to accelerate our company growth and enable businesses to be successful by generating real value out of marketing data.”
Nino Marakovic, CEO and Managing Director at Sapphire Ventures comments: “As investors, we are looking for companies that are addressing large market opportunities, are rapidly growing, and have seasoned leadership teams. We believe Adverity is one of those companies, and that they have the opportunity to help all companies become more data-driven in their marketing. We are excited to partner with Adverity and help them deliver on their mission to help businesses become data-driven.”
In the last 12 months the company has seen significant commercial traction with annual recurring revenue growth of more than 100%. Adverity powers the marketing intelligence of some of the world’s leading brands and agencies across 60 countries. Adverity also achieved Amazon Web Services (AWS) Digital Customer Experience (DCX) Competency status, making it the first Austrian company to achieve this as a launch partner.
Headquartered in Vienna, Austria, the company has offices in London and New York.
Adverity is an intelligent marketing analytics platform specializing in enabling data-driven marketing teams to make better decisions and improve performance, faster and easier. By transforming siloed data into actionable insight, Adverity reduces the complexity involved in demonstrating the return on investment of multichannel marketing spend.
Through automating data integration from hundreds of sources, our vendor-agnostic, end-to-end platform delivers a single view of marketing performance across your business. With the help of powerful data visualizations, Adverity reveals tangible business impact of marketing activities and improves performance by uncovering real-time opportunities to fuel growth with augmented analytics. To find out more visit Adverity.com.
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global executive network, Sapphire invests capital, resources and expertise to enable its portfolio companies to scale rapidly through a powerful business development, marketing and talent platform. With approximately $4 billion in assets under management across its Sapphire Ventures, Sapphire Partners, and Sapphire Sport investment platforms, Sapphire is positioned to elevate companies across technology sectors to the global stage. To learn more, please visit: Sapphireventures.com.