Softbank leads USD 120m round for Adverity

Sapphire Ventures also backed the round.

Softbank is investing via its second Vision Fund, which is targeting USD 108bn. Although fundraising was suspended in April 2020, the fund had raised USD 10bn by November 2020, according to Unquote Data.

The firm's recent activities include leading a USD 639m round for Sweden-based Klarna in June 2021, valuing the company at USD 45.6bn.

Proceeds from Adverity's largest funding round yet are intended for the development of its technology and international presence, according to a statement.

Venture and growth deals hit a record high in H1 2021 thanks to an increasing number of large funding rounds, reaching EUR 38bn in aggregate value across 1,131 deals, as reported by Unquote.

At the time of Adverity's USD 30m Series C round in April 2020, the round was the second largest to date in Austria, according to Unquote Data. However, this has since been surpassed by several Austrian startups that have received significant funding in the past six months – most notably by e-learning startup GoStudent's EUR 205m funding round in June 2021, and Bitpanda raising a USD 170m Series B in March 2021.

Previous funding
Speedinvest, AWS Gründerfonds and 42Cap took part in a seed round for Adverity in July 2017.

The same VCs backed a EUR 3.2m Series A for the company in April 2018, with new investor Mangrove Capital Partners leading the round.

In April 2019, Felix Capital led a USD 12.4m funding round for Adverity, with participation from Mangrove, SpeedInvest, 42Cap and AWS. Sapphire and Sap.IO also joined the round as new investors.

Sapphire Ventures led a USD 30m Series C round for Adverity in April 2020, joined by Felix, Mangrove, Sap.IO, and AWS.

Company
Vienna-headquartered Adverity is a marketing analytics software developer that aims to provide companies with data-based insights on engagement and growth patterns in their marketing. Its data is sourced via tools including web tracking and TV audience metering systems. The firm's clients include Ikea, Unilever and Vodafone.

Adverity has additional offices in London and has grown its team threefold in the past two years, according to a statement. The company was founded in 2014.

People
Adverity – Alexander Igelsböck (CEO, co-founder).
Softbank – Ram Trichur (partner).

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