38.2 C
Tuesday, June 18, 2024

Vienna-based Adverity raised $120M led by SoftBank Vision Fund 2


Adverity is a rapidly-growing platform for analytics. It confirms funding of $120 million (Series D), led by Sapphire Ventures and the SoftBank Vision Fund 2. Adverity aims at enhancing marketing outcomes with insightful and effective analysis (data-based). The company is based in Vienna, and has offices at New York and London. It saw growth of 120% in its clientele over the last year, while adding more global agencies and brands to its kitty. These include the likes of Vodafone, IKEA, MediaCom, and Unilever.

The funding follows the company’s record business quarter. It notched up four-year CAGR (compound annual growth rate) of 105%, along with expanding its global staff by 300% from 2019. Adverity also got $30 million in funding sometime earlier as part of its Series C round. The company has cumulatively raised $165 million till date.

Reports indicate a market value of $132.9 billion for data analytics by 2026. Hence, demand will grow for companies to tap into their data for maximum value and the best possible outcomes. Adverity is the leading player in this scenario, offering abilities for combining multiple data sources swiftly, while tapping marketing information innovatively for boosting growth. The platform already sets the tone for predictive analytics, enabling marketers to find and seize onto newer opportunities. This also helps them fix prospective issues through the automatic detection of trends, issues, and patterns. ROI Advisor also helps advertising entities track performance without requiring third-party cookies at all. The funds will help the company scale up its product portfolio, while creating greater value through better insights and recommendations.

More articles

Latest article