- Adverity, a leading marketing data intelligence company, announced a Series C financing round of $30 million
Adverity, a leading marketing data intelligence company, announced a Series C financing round of $30 million. Including this round of funding, the company raised $50 million in total funding.
This funding round was led by Sapphire Ventures. Mangrove Capital Partners, Felix Capital, SAP.iO and aws Gründerfonds also joined the round.
And this round of funding will help accelerate Adverity’s business growth, including investment in Research & Development and advancing product offerings. This furthers 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.
This investment will enable Adverity to expand its technology and commercial teams both in the US at its New York office location and globally.
Marketing data is known for being 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.
Adverity powers the marketing intelligence of some of the world’s leading brands and agencies across 60 countries. And over the past year, the company has seen significant commercial traction with annual recurring revenue growth of over 100%.
Key Quotes:
“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.”
-Alexander Igelsböck, CEO and Co-Founder of Adverity
“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.”
-Nino Marakovic, CEO and Managing Director at Sapphire Ventures
