Adverity, an Austrian SaaS platform specialist, today announced the closure of its Series A round – led by Mangrove Capital Partners. The existing investors Speedinvest, 42cap and aws Founders Fund also participated in this round.
Founded in 2014, the Vienna-based startup has developed a platform for marketers and advertisers for integrating different data points. It will be investing the new funds in further product and business development ahead of expanding internationally. The offices in Austria, Germany and London are growing and a new office in New York will be opened soon.
Having secured this latest investment, Adverity plans to further leverage its growth and invest heavily in client acquisition through marketing and sales channels. Adverity’s rapid growth has been achieved through quick expansion of its clientele, which includes large agency networks as well as e-commerce, FMCG and traditional retail companies. Having recorded a 300% increase in revenue during 2017, the company is expected to maintain the same rate of growth in 2018.
The Martech sector remains fragmented but offers a highly lucrative landscape for software companies to thrive. According to Chiefmartec, there are over 5,000 services offered with an average of 91 applications in use at enterprise businesses. Furthermore, Gartner reports that marketing analytics represents the largest share of the total marketing expenditure incurred by enterprise CMOs. Adverity aims to improve the way their clients work with their data by providing a comprehensive, end-to-end solution for their data integration processes.
Created for marketers in mind, Adverity’s innovative platform enables their clients to easily connect and work with the entire media, marketing and e-commerce ecosystems. By leveraging the largest data source library on the market, users can automate the entire data integration process. The data will be harmonised into a consistent structure, allowing users to easily analyse data from different platforms alongside each other. As an Integration Platform as a Service (iPaaS), Adverity provides a centralised hub to connect, govern and manage data streams from cloud-based marketing tools.
Nikolas Krawinkel from Mangrove Capital Partner stated: “Adverity is a quickly growing SaaS company with strong, experienced leadership, a well-crafted product and a bold vision. The Marketing Technology (MarTech) segment, including cloud-based analytics, is a fast-growing part of the IT industry. We see Adverity as a strong contender to make a long-lasting impression in this area. With an ever-increasing number of digital channels to advertise from, it is imperative that every ambitious company across the globe chooses to master their marketing data. Adverity is here to help those advertisers derive as many meaningful insights from their data as possible.”