We're proud to announce another major investment in our company. Adverity has secured a Series A investment of 3.2 milion Euro from Mangrove Capital Partners - a leading tech venture capitalist with investments in Skype, Wix, Outfittery, Lesara and many more. The existing investors Speedinvest, 42CAP and aws Founders Fund also participated in this round. This latest investment will allow us to accelerate plans for our product and business development.
A big part of our team has been working in the agency and marketing business for years and we know the industry pains by heart. We're all too familiar with the systemic flaw borne out of a necessity to provide efficient analyses and reports from campaign data. The majority of the tasks involved are performed manually: shackling marketing teams to an ever-growing number of spreadsheets, reports and manual data wrangling.
We concluded long ago that this is not the way marketing analytics should be. And it is this very notion that gave way to Adverity being founded. Our team is empowered by the belief that data can radically improve how companies and customers connect and interact with each other. In short, our vision is to revolutionise the way advertisers work with their marketing data.
Since the company's founding, we've built a highly scalable and business-proof platform:
The Adverity products are platform-agnostic and can be integrated with any given IT infrastructure, making it easy to scale and be used alongside existing tech stacks, from startup to enterprise level.
Our tools are equipped with unique functionality that enables users to gather all kinds of marketing data on a granular level and transform it into a consistent structure, making it easy to analyse and send to any destination, such as data warehouses or business intelligence tools.
We've built an extensive library of native connectors for hundreds of marketing, measurement and commerce tools - making it easy to leverage data and create a holistic view of our clients' online and offline marketing activities.
Moreover, this has coincided with a growing list of large international clients, as well as local startups, choosing to augment their marketing activities with Adverity. All of this has been achieved while overseeing zero churn (that's right, not a single client has left us!).
Adverity has also established a number of coveted partnerships with major global tech leaders - including the likes of Amazon, Microsoft and Google - to aid our data integration efforts. This has granted us access to a number of alpha and beta programs - enabling us to offer new, non-public features to all of our clients.
While Adverity will still be headquartered in Vienna, we're looking to extend our footprint in the European and US markets. The offices in Germany and London are growing and a new office in New York will be opened soon. Having secured this latest investment, we plan to further leverage our growth and invest heavily in client acquisition through marketing and sales channels.
Nikolas Krawinkel from Mangrove Capital Partner said that “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.”
Adverity CEO Alexander Igelsböck concludes: “We're very happy to have Mangrove Capital Partners on board - not only to help accelerate our growth through this latest investment but also to offer their expertise and insights from previous tech investments. The Adverity leadership team is immensely proud of the incredible work everybody at the company has put into our growth efforts over the past years. We look forward to reaching our ambitious goals at the end of the year and further focus on providing the best products and the best customer service possible for our customer”