Adverity raises $120 million to further enhance its marketing analytics platform
Marketing analytics platform Adverity, specialized in enabling data-driven marketing teams to make decisions, has secured $120 million in a Series D funding round. The round was led by SoftBank Vision Fund 2. Existing investor Sapphire Ventures is also participating in the round. This latest round brings the company’s total funding to more than $165 million. The company plans to use part of the latest funding round to evolve its newest feature, ROI Advisor, which allows to track performance of marketing campaigns without the need for third-party cookies.
Founded in 2015 and based in Vienna, Adverity powers the marketing intelligence of some brands and agencies, seeing a 120% client uplift in the last 12 months, which include IKEA, Red Bull, GroupM, Unilever, Omnicom, Barilla, JD Sports, and Forbes. The company has also offices in London and New York.
Alexander Igelsböck, CEO and Co-Founder of Adverity, comments: “There is a multitude of marketing tools available but the quantity of new tools that marketers implement doesn’t matter – what matters are the insights that help companies drive growth and avoid missteps. In today’s data-centric climate, every successful company must have data analytics at its core.
Through automating data integration from hundreds of sources, the end-to-end platform delivers a single view of marketing performance across businesses. With the help of data visualizations, Adverity reveals the tangible business impact of marketing activities and improves performance by uncovering real-time opportunities to fuel growth with augmented analytics.
Ram Trichur, Partner for SoftBank Investment Advisers, adds: “With the rapid growth of digital channels available to brands globally, data integration, harmonization, and the use of real time AI analytics are now a must-have tool to effectively connect with B2C and B2B audiences. Adverity is transforming the marketing analytics sector by making it more insights-driven. We’re excited by the substantial opportunity to scale the platform’s technology and international reach.”
“SoftBank Vision Fund 2 recognized the value in our business, understanding that our platform is a critical component for any modern Martech stack. Using automation to do the heavy lifting, marketers can move beyond ‘point in time’ performance data and harness insights that not only power and validate better decisions now, but fuel proactive choices to improve future outcomes.” added Igelsböck.
Source: Adverity “Adverity secures $120M from SoftBank Vision Fund 2 as demand for marketing analytics booms”