Data intelligence platform Adverity closes €11m Series B funding led by London’s Felix Capital

Data intelligence provider Adverity has closed an €11m Series B funding round led by London-based Felix Capital.

The latest funding round, which was supported by Silicon Valley’s Sapphire Ventures and Sap.io, brings the total amount raised to €15m and will contribute to Adverity’s planned US expansion.

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Vienna-based Adverity, whose clients include Ikea, Red Bull and Mediacom, helps businesses make better marketing decisions through data intelligence.

Alexander Igelsböck, chief executive and co-founder of Adverity, said: “Every company wants and needs to be data-driven.

“This is especially true in marketing where the fragmentation of data, and complexity in getting insights from it, poses a huge challenge for CMOs.

“Adverity’s mission is to solve those challenges by eliminating the hurdles facing companies today.

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“With the additional backing from Felix Capital, Sapphire Ventures and the SAP.iO fund, and we can help businesses achieve a truly data-driven execution.”

Existing investors Speedinvest, Mangrove Capital, 42cap and AWS Founders Fund also participated in the funding round.