Austria-headquartered marketing analytics technology provider Adverity raised $120m in a series D round led by internet and telecommunications conglomerate SoftBank’s Vision Fund 2 yesterday.
Sapphire Ventures, the venture capital firm spun off by enterprise software producer SAP, also took part in the round, which increased the total secured by the company to more than $165m since it was founded in 2014.
Adverity provides a data visualisation software tool that enables marketers to analyse raw datasets in a bid to improve their operations and results. It has offices in the city of Vienna, in its home country, as well as in London, UK and New York, United States.
Sapphire Ventures had led a $30m series C round for Adverity in April 2020, investing alongside SAP’s corporate venturing arm, SAP.io, as well as Mangrove Capital Partners, Felix Capital and AWS Gründerfonds.
The company had raised $3.9m in a series A round led by Mangrove Capital Partners in 2018 and backed by Speedinvest, 42cap and AWS Founders Fund. All four investors then joined SAP.iO and Sapphire Ventures in a $12.4m series B led by Felix Capital the year after.
Ram Trichur, a partner at SoftBank Investment Advisers, which oversees its Vision Funds, said: “With the rapid growth of digital channels available to brands globally, data integration, harmonisation and the use of real-time [artificial intelligence] analytics are now a must-have tool to effectively connect with [business-to-consumer] and [business-to-business] audiences.
“Adverity is transforming the marketing analytics sector by making it more insights-driven. We are excited by the substantial opportunity to scale the platform’s technology and international reach.”
