Marketing and analytics platform, Adverity has closed a $120m (£87.01m) Series D financing round led by SoftBank Vision Fund 2, with existing investor Sapphire Ventures also participating in the round.
The platform's mission is to transform marketing performance through intelligent data-driven insights. It has seen a 120 per cent client uplift in the last 12 months amid an expanding portfolio of global brands and agencies that include IKEA, Red Bull, Unilever, MediaCom, and Vodafone.
With three investment rounds in as many years, the announcement comes less than 16 months after Adverity’s $30m Series C, bringing the company’s total funding to more than $165m.
According to research group Market Research Future, the global data analytics market is set to reach $132.9bn by 2026, amid a growing need for businesses to extract the most value from their data.
At the same time, turbulent market conditions caused by COVID-19 have amplified the pressure on marketers to justify their investments and make fast, accurate, insight-based decisions.
Adverity’s ability to efficiently integrate disparate data sources and deliver goal-orientated insights out of the box has positioned it at the forefront of these changes, enabling companies to effectively use their marketing data to drive growth and avoid getting left behind.
"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," said CEO and Co-Founder of Adverity, Alexander Igelsböck. “SoftBank Vision Fund 2 recognised 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.”