Mangrove leads €3.2m series-A for Adverity

Existing investors Speedinvest, 42Cap and AWS Gründerfonds also took part in the financing.

The fresh capital will be used to expand operations by recruiting for the company's Frankfurt and London offices, and opening a new office in New York. Adverity will also invest in client acquisition through marketing and sales channels.

Mangrove principal Nikolas Krawinkel joined 42Cap's Alexander Meyer, AWS's Ralf Kunzmann and Speedinvest's Oliver Holle on Adverity's board.

Previous funding
Speedinvest led a seed round for Adverity in July 2017 with participation from 42Cap and AWS.

Company
Adverity was founded in 2015 and is headquartered in Vienna. The company develops a marketing analytics platform that allows companies to input data from a variety of sources in a range of formats and run automated analysis. It operates out of three offices in Vienna, Frankfurt and London, and plans to open in New York in the near future.

People
Mangrove Capital Partners – Nikolas Krawinkel (principal).
Adverity – Alexander Igelsböck (CEO).

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