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Image credits: Adverity

The need to understand consumer demands and penetrate new markets amidst growing competition has led numerous institutions and organisations to adopt marketing analytics tools and solutions. 

Of late, the demand for marketing analytics tools and solutions has only accelerated with the debate around third-party cookies and data privacy concerns.

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Turbulent market conditions caused by the COVID-19 pandemic have also amplified pressure on marketers to justify their investments and make fast, accurate, and insight-based decisions.

Amid all this, the research group Market Research Future estimates that the global data analytics market will reach $132.9B (approx €112B) by 2026. 

And a Vienna-based startup is set to capitalise on this opportunity. 

Meet Adverity, an Austrian startup that provides intelligent data integration and analytics platforms for marketing, sales, and e-commerce teams.

Secures $120M funding

Recently, Adverity secured a $120M (approx €101M) Series D financing round led by SoftBank Vision Fund 2, with existing investor Sapphire Ventures also participating in the round. This latest round brings the company’s total funding to more than $165M (approx €140M).

The latest round comes in less than 16 months after securing $30M (approx €25.4M) in Series C funding. 

The company will use the funds to develop its product range to continue adding value on top of data by providing insights and detailed recommendations for the next best marketing steps, in addition to oversight of ROI.

Alexander Igelsböck, CEO and Co-Founder of Adverity, says, “There is a multitude of marketing tools available but the quantity of new tools that marketers implement doesn’t matter – what matters are the insights that help companies drive growth and avoid missteps. In today’s data-centric climate, every successful company must have data analytics at its core.

He adds, “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.”

Resolves data privacy concerns

Founded by Alexander Igelsböck, Andreas Glänzer, Martin Brunthaler, and Vlad Gozman in 2015, Adverity specialises in enabling data-driven marketing teams to make decisions.

By transforming siloed data into actionable insights, the company reduces the complexity in demonstrating the ROI (Return on Investment) of multichannel campaigns.

The company’s predictive analytics allows automatic flagging of anomalies, trends, and patterns, enabling marketers to identify emerging opportunities and address potential problems.

Ram Trichur, Partner for SoftBank Investment Advisers, says, “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.”

Adverity’s ROI Advisor feature 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. 

120 per cent growth

The company has seen a 120 per cent client growth 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 the company’s 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.

A couple of months back, Adverity expanded its Executive Team to meet the increasing demand and rapid growth of the company. The company appointed Harriet Durnford-Smith as Chief Marketing Officer (CMO) alongside Christina Schlesinger as Chief Customer Officer (CCO).

At present, the company has offices in London and New York.