Adverity, an AI-powered intelligent marketing analytics platform, raised $30 million in a Series C financing round.
The funding round was led by Sapphire Ventures, a Silicon Valley-based venture capital firm, with participation from Mangrove Capital Partners, Felix Capital, SAP.iO, and aws Gründerfonds.
Adverity has raised $50 million to date. According to the company, the latest funds will help accelerate its business growth – including investment in research & development and advancing product offerings.
The funds will also help expand the company’s technology and commercial teams in the US and globally.
Marketing data is 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. The Adverity 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.
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.”
The company’s clients include IKEA, Red Bull, Unilever, MediaCom, and IPG Mediabrands.
Image Credit: Adverity