Adverity secures €11 million funding
Data intelligence provider Adverity has announced the closure of an €11 million Series B funding round.
The funding brings the total amount raised to date to €15 million, led by London-based Felix Capital with participation from Silicon Valley’s Sapphire Ventures and the SAP.iO fund.
This follows a triple-digit year-over-year growth for Adverity, with the company also planning expansion into the US market as a result of strong inbound interest from customers.
“Every company wants and needs to be data-driven,” said Alexander Igelsböck, CEO and co-founder of Adverity.
“This is especially true in marketing where the fragmentation of data, and complexity in getting insights from it, poses a huge challenge for CMOs.
“Adverity’s mission is to solve those challenges by eliminating the hurdles facing companies today. With the additional backing from Felix Capital, Sapphire Ventures and the SAP.iO fund, and we can help businesses achieve a truly data-driven execution.”
Adverity’s clients include global brands and agencies such as IKEA, Red Bull, Mediacom, Mindshare and IPG, as the SaaS platform integrates data from advertising, commerce, CRM and analytics sources, and augments that information with artificial intelligence to provide marketers with insights.
Sasha Astafyeva, principal at Felix Capital, added: “We are excited to partner with Adverity, which supports our strategy of investing in innovative enabling technologies focused on marketing, ecommerce, retail and brand-building.
“Data is a powerful tool for engaging customers and Adverity helps marketers harness the power of their data to make better decisions, grow their business and better serve their customers.
“We’re delighted to play our role in helping Adverity become the leading provider of marketing analytics software and ensuring the company’s future growth.”
Headquartered in Vienna, Austria, the company has offices across London, Sofia and Frankfurt and employs around 100 staff.
In addition to the latest round of investors, Adverity continues to be backed by existing investors including, Speedinvest, Mangrove Capital (early backer of Skype, Wix.com and Walkman), 42cap, and local Austrian company the AWS Founders Fund.