SoftBank's Vision Fund 2 has reportedly invested $120 million in Adverity, a marketing analytics platform based out of Vienna. Along with SoftBank, Sapphire Ventures also participated in the Series D round of funding. Previously Sapphire Ventures had invested $30million in the Series C round. The latest round brings Adverity's total funds raised to over $165 million.
What does Adverity do?
Adverity is a marketing analytics platform that aims to help marketing teams make data-driven decisions. According to the company's press release, its mission is to 'transform marketing performance'[1]. The platform will provide intelligent data-driven insights. The business was started in Vienna. Currently the company has offices in London and New York. Adverity has seen a 120% increase in its clients over the past 12 months. The impressive roster of clients includes both agencies as well as global brands like Unilever, IKEA, Vodafone, and MediaCom. Since 2019 the company has grown in size by 300%.
The platform is able to collate and integrate data from disparate sources and generate actionable insights. It has been designed to incorporate predictive analysis so that it can identify patterns, red flags, and trends. This information will allow marketing teams to make proactive decisions to capitalize on upcoming opportunities and take appropriate actions to deal with potential challenges.
An Increasing Demand for Marketing Analytics
Driven mainly by the pandemic, there has been a significant rise in the demand for marketers that have digital skills. Today marketing teams have a large amount of data to sift through, from social media metrics to e-commerce data. As consumer behavior rapidly shits to online research and purchasing, the need for marketing analytics has spiked. According to McKinsey, the future of marketing lies in the effective use of big data[2]. By using analytics to identify business opportunities, a business can significantly increase its marketing return on investment (MROI).
In this increasingly data-centric business world, Adverity seems poised to take advantage of the shift in marketing priorities. This may be why the company caught their interest of SoftBank's vision fund. Subscribe to Whitepapers.online for more start-up and tech news.
Sources:
1. Aug. 2021, "Adverity secures $120M from SoftBank Vision Fund 2 as demand for marketing analytics booms", Adverity, [available online] available from: https://blog.adverity.com/press-releases/adverity-series-d-120m-investment-softbank-vision-fund?_ga=2.195484524.1516627734.1629276340-183484233.1629276340
2. Mar. 2015, "Marketing & Sales Big Data, Analytics, and the Future of Marketing & Sales", McKinsey and Company, [available online] available from: https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/Marketing%20and%20Sales/Our%20Insights/EBook%20Big%20data%20analytics%20and%20the%20future%20of%20marketing%20sales/Big-Data-eBook.ashx [accessed Aug 2021]