Marketing analytics platform Adverity has closed a $120 million Series D financing round led by SoftBank Vision Fund 2, with existing investor Sapphire Ventures also participating in the round.
Adverity’s mission is to transform marketing performance through intelligent data-driven insights. The Vienna-born business – with offices in London and New York – 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. This follows the best quarter in company history, a compound annual growth rate of 105 per cent in the past four years, and a rapidly growing global team that has increased in size by 300 per cent since 2019.
According to research group Market Research Future, the global data analytics market is set to reach USD132.9 billion by 2026 amid a growing need for businesses to extract the most value from their data. As data privacy and security become an increasingly crucial issue for businesses, demand has only accelerated with the ongoing debate around third-party cookies which threatens to fundamentally change how marketers track performance. 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.
The platform has already pioneered the move towards predictive analytics, where automatic flagging of anomalies, trends, and patterns enables marketers to proactively identify and seize emerging opportunities and address potential problems. In particular, their latest feature, ROI Advisor, has been released as a direct response to data privacy concerns as it allows marketers to track performance without the need for third-party cookies. Proceeds from the investment will evolve its product range to continue adding value on top of data by providing seamless, forward-looking insights and detailed recommendations for the next best marketing steps, in addition to clear oversight of ROI.
Read more/Source: Private Equity Wire
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.