The funding will help Adverity build upon its product offerings. Here are the top-line bullets you need to know.
Adverity, a marketing data platform, has raised $120M in a Series D that drew participation from Softbank Group and Sapphire Ventures.
HOW’S THE COMPANY PERFORMING?
- Austria-based Adverity integrates disparate data sources in order to generate insights that allow for faster decision-making among marketing, sales, and e-commerce teams.
- The company, which also has offices in New York and London, has experienced a 120% increase in its client base over the past 12 months — notable clients include Unilever, Red Bull, MediaCom, IKEA, and Vodafone.
- The company has exhibited a CAGR of 105% over the past four years, and this has been supported by an expanding team that has grown by 300% since 2019.
WHY DOES THE MARKET MATTER?
- The global marketing analytics tool market is projected to grow at a CAGR of 14.8% from 2020 to 2027, according to Grand View Research.
- The Covid-19 pandemic has spurred the adoption of cloud-based business analytics software, and this trend is expected to continue as businesses accelerate their digital transformation strategies to stay afloat in an increasingly competitive market.