Marketing data specialist Adverity raises $30 million in Series C round
Adverity, the marketing data intelligence and business-ready data firm with offices in London, Vienna and New York, announced today the completion of a funding round worth $30 million.
This brings the total raised to $50 million, with this Series C round led by Sapphire Ventures, a Silicon Valley-based venture capital firm. Other investors participating included Mangrove Capital Partners, Felix Capital, SAP.iO and aws Gründerfonds.
The funds will help accelerate business growth for Adverity, with a focus on R&D and advancing product offerings. It hopes to further its commitment to eliminating the marketing-related data challenges faced by businesses, and meet increasing demand.
Adverity uses AI to power its marketing intelligence platform, which addresses the barriers faced by businesses in terms of the complexity of the marketing data they need to grow and succeed. It offers advanced augmented analytics solutions to enable better decision-making and improved marketing performance. Existing clients include Ikea, Unilever, and MediaCom.
Alexander Igelsböck, CEO and Co-Founder of Adverity, said: “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, added: “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.”