Austrian startup Adverity, a leading force in marketing data intelligence and business ready data, today announced a Series C financing round of around €27.6 million, bringing the total amount raised to around €46.1 million. The latest funding round is led by Sapphire Ventures, a Silicon Valley-based venture capital firm, as well as Mangrove Capital Partners, Felix Capital, SAP.iO and aws Gründerfonds.
Adverity, founded in 2014, 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.
Vienna-based Adverity, which also has offices in London and New York, powers the marketing intelligence of some of the world’s leading brands and agencies across 60 countries, including IKEA, Red Bull, Unilever, MediaCom and IPG Mediabrands. 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.
The Series C funding will help accelerate Adverity’s business growth, including investment in R&D and advancing product offerings, and further its commitment to eliminating the marketing-related data challenges faced by businesses. The startup also plans to expand its technology and commercial teams both in the US at its New York office location, and globally.
Alexander Igelsböck, CEO and Co-Founder of Adverity, commented: “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 commented: “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.”
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
