Austrian data intelligence platform Adverity raised 11 million euros in series B funding round, thus finalizing this round to total 15 million euros, local media reported. The round was led by UK Felix Capital, but also Sapphire Ventures and the SAP.iO fund participate in the round. As announced, the money will be used so Adverity can expand on the US market.
“With the added support of Felix Capital, Sapphire Ventures, SAP.io and our legacy investors, we can help companies achieve truly data-driven execution,” said Adverity CEO Alexander Igelsböck, media reported.
For Felix Capital the investment in Adverity is in line with their strategy. With the funding, they will help this Austrian startup to become a leading provider in marketing analytics.
“We are excited to partner with Adverity, which supports our strategy of investing in innovative enabling technologies focused on marketing, e-commerce, 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”, says Sasha Astafyeva, principal at Felix Capital.
Founded in 2015 in Vienna, Adverity is an intelligent software platform that helps marketers to compare results in an easier manner through completely different channels thus giving them better insight. What makes this platform special is that fully integrates input from all marketing tools as well as spreadsheets into one application, and then analyses the information on a granular level.
“Every company wants and needs to be data-driven. 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”, says Igelsböck.
To date, according to startup info, IKEA, Red Bull, Mediacom, Mindshare and IPG, are just a few from the many international companies that use Adverity platform.
With headquarters in Vienna, Austria, the company has offices across London, Sofia and Frankfurt and employs around 100 staff.
On the investors
Felix Capital is a venture firm for the creative class, at the intersection of technology and creativity, focused on opportunities in the digital lifestyle. Their mission is to support entrepreneurs with big ideas, to help them build strong brands that stand out and that move the world forward. Founded in 2014, Felix Capital is based in London, and operate across Europe and the US.
SAP.io invests in software companies within the SAP ecosystem. The investor has already funded over 125 software start-ups.
Sapphire Ventures is focused on helping today’s most innovative technology companies to become global category-defining leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly.
In addition to the latest round of investors, Adverity continues to be backed by existing investors including, Speedinvest, Mangrove Capital (an early backer of Sky), 42cap, and local Austrian company the AWS Founders Fund. Reportedly they have supported the startup with 3,2 million euros.