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.
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 martech news.
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.