Marketing analytics platform Adverity announced that it has closed a $120 million Series D funding round led by SoftBank Vision Fund 2, with existing investor Sapphire Ventures also participating in the round.
Having offices in London and New York, Adverity said it has seen a 120% client uplift in the last 12 months and a compound annual growth rate of 105% in the past four years. The new funding round comes less than 16 months after the company’s $30 million Series C and it brings the company’s total funding to more than $165 million.
Alexander Igelsböck, CEO and Co-Founder of Adverity, said “SoftBank Vision Fund 2 recognized 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.”
According to research group Market Research Future, the global data analytics market is set to reach $132.9 billion by 2026. Adverity says its 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.
“With the rapid growth of digital channels available to brands globally, data integration, harmonization, and the use of real time AI analytics are now a must-have tool to effectively connect with B2C and B2B audiences. Adverity is transforming the marketing analytics sector by making it more insights-driven. We’re excited by the substantial opportunity to scale the platform’s technology and international reach.” Ram Trichur, Partner for SoftBank Investment Advisers said.