LIVEKINDLY screams its way to the top of new plant brands with the close of a $335 million round

LIVEKINDLY Collective, the shouty parent company behind a family of plant-based food brands, has snagged cash from the global impact investing arm of $103 billion dollar investment firm TPG to close its latest round of funding at $335 million.

The company’s fundraising shows that investors still have high hopes for plant-based food brands and that despite the money that’s flowed to companies like Beyond Meat and Impossible Foods — and the resurgence of older brands in the category like Quorn or Kelloggs’ Morningstar Farms —  there’s still a healthy appetite among investors for more brands.

LIVEKINDLY was founded by some heavy hitters from the food industry including Kees Kruythoff, the former president of Unilever North America; Roger Lienhard, the founder of Blue Horizon Corp; and Jodi Monelle, the chief executive and founder of LIVEKINDLY Media. Food industry veterans like Mick Van Ettinger, a former Unilever employee and Aldo Uva, a former Nestle employee round out the team.

Founded as a rollup for a number of different vegetarian and alternative protein food brands, the LIVEKINDLY collective is now one of the largest plant-based food companies, by funding.

The company said it would use the money to expand into the U.S. and China and to power additional acquisitions, partnerships and investments in plant-based foods.

The company raised money previously from S2G Ventures and Rabo Corporate Investments, the investment arm f the giant Dutch financial services firm, Rabobank.

Fundamentally, the founding investors behind LIVEKINDLY believe that the technology has a long way to go before it matures. And it’s likely that this latest round will be LIVEKINDLY’s last before an initial public offering of its own. 

“We are building a global pureplay in plant-based alternatives – which we believe is the future of food,” said Roger Lienhard, Founder and Executive Chairman of Blue Horizon Group and Founder of LIVEKINDLY Collective. “In just one year, we have raised a significant amount of capital, which testifies to the urgency of our mission and the enormous investment opportunity it represents. We believe the momentum behind plant-based living will continue to grow in both the private and public markets.”

As a result of its investment, Steve Ellis, Co-Managing Partner of The Rise Fund, has joined the LIVEKINDLY Collective Board of Directors, effective March 1, 2021.

“We are excited to work with LIVEKINDLY Collective and its ecosystem of innovative companies and world-class leaders to meet the growing global demand for healthy, plant-based, clean-label options,” said Ellis. “The company’s unique, mission-driven model operates across the entire value chain, from seed to fork, to drive worldwide adoption of plant-based alternatives and create a healthier planet for all.”

#beyond-meat, #cellular-agriculture, #china, #companies, #eat-just, #food, #food-and-drink, #founder, #impossible-foods, #nestle, #plant-based-food, #president, #rabobank, #rise-fund, #s2g-ventures, #tc, #unilever, #united-states

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Shopalyst aims to make e-commerce advertising more effective

Indian startup Shopalyst has officially launched a new platform that it calls the Discovery Commerce Cloud, which it says can help retailers take full advantage of digital advertising.

Co-founder and CEO Girish Ramachandra told me that Shopalyst was created to allow for “one seamless journey for the shopper” across advertising and e-commerce — something he said current systems are not currently designed to support.

The startup’s first product was a “universal buy button,” and Ramanchandra said that has “naturally progressed” into a broader set of tools for cross-platform advertising, which Shopalyst has been beta testing for the past year.

The Discovery Commerce Cloud consists of five modules, which Ramanchandra said work best together but can also be purchased separately. That includes:

  • a market intelligence product with information about what consumers are searching for and what’s popular on media and e-commerce platforms
  • an audience intelligence product to target ads based on audience interest, behavior and purchase intent
  • a Universal Ads Manager to deliver ads across Google Ads, DV360, Facebook, Instagram, Amazon Ads, Twitter and TikTok
  • a landing page builder that can support instant checkout on a brand’s own direct-to-consumer site, comparison shopping across e-commerce marketplaces, instant delivery or a physical store locator
  • real-time metrics that measure the full customer funnel

Shopalyst header

Image Credits: Shopalyst

Ramachandra also noted that the ads created in the Universal Ads Builder optimized to each platform, with dynamically generated creative based on audience data. And by using the landing page builder, brands are also able to gather new data about the audience’s “shopping actions.”

“In the past, [brands] didn’t have shopping actions, because retailers don’t share that data back with them,” he said. “That is all changed. Now they’re able to acquire first-party data [from Shoplalyst], which will help them use the right advertising in future campaigns.”

Shopalyst customers include Unilever, Nestle, Diageo, Nivea, L’Oreal and Estee Lauder. And while the startup was initially focused on its home market of India, the platform is now available across 30 countries.

Shopalyst also says that in beta testing, campaigns run through the Discovery Commerce Cloud have seen up to a 3X improvement in targeting relevance, a 5X increase in audience attention and an 8X increase in ad-activated shopping trips.

#advertising-tech, #e-commerce, #marketing, #online-advertising, #startups, #unilever

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Ad-supported EV charging network developer Volta raises $125 million

Volta, the developer of a network of electric vehicle charging stations that monetize using advertising, has raised $125 million in new funding in a process managed by Goldman Sachs.

Volta builds and operates a network of electric vehicle charging stations that are sited in parking lots around grocery stores, pharmacy chains, banks and hospitals.

The company has placed its charging stations, with their 55-inch digital displays in locations at 200 cities across 23 states, according to a statement.

The charge is free for vehicle owners and is supported by the retailers and consumer goods companies that want to reach the EV audience.

With the new financing, Volta has now raised over $200 million in funding and intends to use its cash to begin expanding internationally.

Companies who have placed Volta’s chargers on their sites include Albertsons Companies, Giant Food, Regency Centers, Wegmans and TopGolf. Brands advertising on the company’s screens include GM, Hulu, Nestlé, Polestar, Porsche and Unilever.

“Since our initial investment in Volta in 2018, excitement and interest in electrification — and specifically solving for public charging solutions — has continued to gain momentum,” said John Tough, Managing Partner at Energize Ventures, a major and existing investor in this round. “Our conviction in this team has similarly grown, and we believe Volta is poised to lead this market as the most capital-efficient and highly utilized EV charging network in the country.”

 

#charging-stations, #electric-vehicle, #electric-vehicles, #electrical-engineering, #goldman-sachs, #green-vehicles, #inductive-charging, #managing-partner, #nestle, #network, #porsche, #tc, #unilever, #volta

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Eco-friendly laundry goods subscription service smol raises £8M from Balderton

Smol is a startup that delivers eco-friendly laundry capsules and dishwasher tablets on subscription through letterboxes, which undercut the price of the leading brands, to people’s homes. It’s now raised £8 million in a Series A funding round led by Balderton Capital with participation from JamJar Investments. The funding will see smol push into new product categories, expand further into new markets and expand its team. Before this round smol had been funded by seed money from private investors.  

Created by former Unilever employees, Paula Quazi and Nick Green in 2018, its also launched its own-brand, animal-fat-free, vegan fabric conditioner and a 100% plastic-free, child-lock packaging for its laundry and dishwashing products, as well as fabric conditioner made from 100% post-consumer recycled plastic which as recyclable. Smol also offers a returns scheme for refill and reuse.

P&G and Unilever currently dominate the market, while smog hopes to become ‘the dollar shave club’ of laundry.

Paula Quazi, Co-founder of smol said in a statement: “Having seen how the industry has barely innovated in over a hundred years we launched smol to take the hassle out of washing for families whose laundry needs have been ignored for decades.”

Suranga Chandratillake, Partner at Balderton Capital said: “When people think of technology disruption, it is normal to think of digital products and internet tools. However, technology has the power to make life better for us in the most unexpected ways and we believe Paula, Nick and their amazing team have tapped into just such an opportunity at smol.”

#balderton-capital, #business, #co-founder, #companies, #dishwasher, #europe, #industries, #pg, #partner, #suranga-chandratillake, #tc, #unilever

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TradeDepot adds $10 million to add financial services to its supply chain services for African SMBs

Nigeria’s e-commerce startup TradeDepot, which connects international brands to small businesses in Africa, has raised $10 million in a new round of funding to expand its business into financial services and credit offerings for retailers.

First launched in 2016, TradeDepot has built up a network of 40,000 small businesses in Nigeria and connects them to local distributors of global consumer brands like Nestlé, Unilever, GB Foods and Danone, according to a statement.

The initial business model managed to attract a $3 million investment led by Partech back in 2018. And now, as the firm invests from its largest African fund, Partech returned to co-lead TradeDepot’s latest round with the International Finance Corp., Women Entrepreneurs Finance Initiative and MSA Capital.

TradeDepot’s business depends on making a range of household supplies like milk, soap, and detergent more accessible and affordable for the street-side vendors and small shops that provide goods and services for hundreds of communities in cities like Lagos — where the company is headquartered.

Using the company’s mobile apps on Android or Whatsapp, USSD short code messaging or a toll-free phone number, retailers can place orders and have goods and services delivered through TradeDepot’s fleet of vans and tricycles. They can make payments, order stock, and manage inventory online or through the app as well.

For consumer brands, they have a central hub through which to distribute directly to vendors on the continent, along with data that can help them manage their relationship with these small vendors.

Image Credit: TradeDepot

Africa’s offline retail market is estimated at $1 trillion, and this new investment allows us to capture an even greater segment of that market,” said Onyekachi Izukanne, in a statement. “We will continue to use data to drive efficiencies and provide an easier stock acquisition service for our [over] 40,000 retailers, driving down costs for them by negotiating even better deals with our global manufacturing partners, whilst simultaneously providing a better, faster route to market for our suppliers.”

The company said that a new store comes online to use its services every three minutes and that the company receives an order from retailers every four seconds, on average.

Now, with the new capital, TradeDepot will expand into a suite of financial services and lending products for its retailers. Many of the company’s customers lack a credit rating, but TradeDepot has alternative ways to score credit based on the data it has from its existing trading relationships.

“The founders’ vision to build a digital platform that improves the unit economics of serving the mass market is one we feel privileged to support,” said Wale Ayeni, the head of Africa Venture Capital investment at the IFC.

That support disproportionately goes to helping women entrepreneurs, according to the company. Women account for over 75% of the retailers on the company’s platform. Now, with the help of its new investor We-Fi, TradeDepot will look to offer mentorship opportunities and link these business owners to global markets.

“Women play a pivotal role in driving economies across Africa, but lack of access to capital, limited market linkages, cultural norms and other challenges often prevent them from achieving the success they want,” saiid Hanh Nam Nguyen, who represents the We-Fi initiative with the IFC. “We-Fi financing will incentivize TradeDepot to build stronger women-led small and medium enterprises (SME) retailer and distributor networks, which will support them to become drivers of economic growth in their communities.”  

#africa, #android, #articles, #business, #economy, #financial-services, #head, #inventory, #lagos, #merchandising, #nestle, #nigeria, #online-shopping, #partech, #retail, #tc, #unilever

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Unilever and Verizon are the latest companies to pull their advertising from Facebook

Advertiser momentum against Facebook’s content and monetization policies continues to grow.

Last night, Verizon (which owns TechCrunch) said it will be pausing advertising on Facebook and Instagram “until Facebook can create an acceptable solution that makes us comfortable and is consistent with what we’ve done with YouTube and other partners.”

Then today, it was joined by consumer goods giant Unilever, which said it will halt all U.S. advertising on Facebook, Instagram (owned by Facebook) and even Twitter, at least until the end of the year.

“Based on the current polarization and the election that we are having in the U.S., there needs to be much more enforcement in the area of hate speech,” Unilever’s executive vice president of global media Luis Di Como told The Wall Street Journal.

The effort to bring advertiser pressure to bear on Facebook began with a campaign called #StopHateforProfit, which is coordinated by the Anti-Defamation League, the NAACP, Color of Change, Free Press and Sleeping Giants. The campaign is calling for changes that are supposed to improve support for victims of racism, anti-Semitism and hate, and to end ad monetization on misinformation and hateful content.

The list of companies who have agreed to pull their advertising from Facebook also includes outdoor brands like REI, The North Face and Patagonia. (An important caveat: Gizmodo noted that it’s not clear whether these advertisers are also pulling their money from the Facebook Audience Network.)

Facebook provided the following statement in response to Unilever’s announcement:

We invest billions of dollars each year to keep our community safe and continuously work with outside experts to review and update our policies. We’ve opened ourselves up to a civil rights audit, and we have banned 250 white supremacist organizations from Facebook and Instagram. The investments we have made in AI mean that we find nearly 90% of Hate Speech [and take] action before users report it to us, while a recent EU report found Facebook assessed more hate speech reports in 24 hours than Twitter and YouTube. We know we have more work to do, and we’ll continue to work with civil rights groups, GARM, and other experts to develop even more tools, technology and policies to continue this fight.

And Twitter provided a statement from Sarah Personette, vice president of global client solutions:

Our mission is to serve the public conversation and ensure Twitter is a place where people can make human connections, seek and receive authentic and credible information, and express themselves freely and safely. We have developed policies and platform capabilities designed to protect and serve the public conversation, and as always, are committed to amplifying voices from underrepresented communities and marginalized groups. We are respectful of our partners’ decisions and will continue to work and communicate closely with them during this time.

As of 1:57 p.m. EDT, Facebook stock was down more than 7% from the start of trading. CEO Mark Zuckerberg said he will also be addressing these issues at a town hall starting at 2 p,m. EDT today.

 

#advertising-tech, #facebook, #policy, #social, #unilever, #verizon

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SirionLabs raises $44M to scale its contract management software

SirionLabs, a startup that provides vendor management software to enterprises, has raised $44 million in a new financing round as it looks to expand and handle surge in demand from clients.

Tiger Global and Avatar Growth Capital led the Seattle-headquartered startup’s Series C round. The eight-year-old startup, which was founded in India, has raised $66 million to date. The new round values the startup at about $250 million.

Enterprises broadly handle two kinds of contracts, one when they are buying things from a supplier for which they use a procurement contract, and the other when they are selling things to customers, when a sales contract comes into play.

A significant number of companies today handle these contracts manually with different teams within an organization often dealing with the same entity, which leads to discrepancies in their promises. Teams work in silos and often don’t know the terms others in the organization have already agreed upon.

That’s where SirionLabs comes into the picture. “We use artificial intelligence and natural language processing to connect the dots between contracts and what happens after the contract has been signed,” explained Ajay Agrawal, cofounder, chairman and chief executive of the startup, in an interview with TechCrunch.

“For us, it’s not just creating a contract, but also realizing the promises that have been made in those contracts,” he said. SirionLabs also audits the invoice of suppliers, which has enabled its customers to save a significant amount of money.

SirionLabs today hosts contracts in over 40 languages for more than 200 of the world’s largest companies including Credit Suisse, Vodafone, EY, Unilever, Abbvie, BP, and Fujitsu.

Agrawal said the startup has seen a 4X growth in the number of customers it has signed up in the last 18 months. Part of the new capital would go into handling their demand. He said the coronavirus crises has resulted in many companies becoming more cautious about what they promise in their contracts.

The startup, which just opened a technology center in Seattle, also plans to open an AI laboratory in the Washington state to fuel technology innovation and grow sales.

It has also hired several industry veterans including the appointment of Amol Joshi as chief revenue officer, Anu Engineer as chief technology officer, Mahesh Unnikrishnan as chief product officer, and Vijay Khera, who will serve as chief customer officer.

Vishal Bakshi, founder and managing partner at Avatar Growth Capital, said he expects SirionLabs to “capture massive network effects as the platform continues to scale.”

#abbvie, #apps, #artificial-intelligence, #bp, #credit-suisse, #enterprise, #fujitsu, #funding, #natural-language-processing, #sirionlabs, #tiger-global, #unilever, #vodafone

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How will coronavirus change the world? — Parlia launches to help you find out

Is Greta Thunberg a hypocrite?” Google that phrase and you will get thousands of results. It just goes to show that, to a large extent, the “Q&A” model is broken on the internet. Where once Yahoo Answers and Quora were considered the bright young things of Web 2.0’s “Read/Write Web”, today there is only the chaos of myriad search results. Let’s face it, many have tried to really crack Q&A (remember “Mahalo”?) but few ever got very far and most became zombie sites.

But look again and you will notice something. A site called Parlia sits at Number 3 on that search result for ‘Is Greta Thunberg a hypocrite’. But Parlia only launched (in stealth mode) in October last year.

So how can this be?

Well, this upstart in the Q&A space has now closed a Pre-seed round of funding from Bloomberg Beta, Tiny VC and others (amount undisclosed).

And as founder, and former journalist, Turi Monthe tells me, the idea here is Parlia will become an “encyclopedia of opinion.”

“We’re a wiki: mapping out all the perspectives on both the breaking stories and controversies of the day, as well as the big evergreen questions: does God exist? Is Messi really better than Ronaldo? The way we’re building is to also help fix today’s polarisation, outrage and information silo-ing,” he tells me.

While most Q&A sites are geared around X vs Y, and focused on rational debate, Parlia is trying to map ALL the opinions out there: flat earthers’ included. It’s aiming to be descriptive not prescriptive and is closer to a wiki, unlike Quora where the authors are often selling ‘something’ as well as themselves as experts.

The site is already on a tear. And also highly appropriate for this era.

Right now top subjects include “How to stay healthy during quarantine at home?” or “What are the effects of spending long periods in coronavirus isolation?” or “Will the coronavirus crisis bring society together?” The list goes on. Users see the arguments calmly, dispassionately laid out, alongside counter-arguments and all the other arguments and positions.

Says Munthe: “In 2016, I realized the age of political consensus was over. I watched as Britain spilt maybe a trillion words of argument in the build-up to the Brexit Referendum and thought: there are no more than a half-dozen reasons why people will vote either way.”

He realized that if there’s a finite number of arguments around something as huge and divisive as Brexit, then this would be true for everything. Thus, you could theoretically map the arguments around Gun Control, Abortion, responses to the Coronavirus, the threat of AI, and pretty much everything.

So why would anyone want to do that? It’s, of course, a good thing in itself and would help people understand what they think as well as help them understand how the rest of the world thinks.

Luckily, there is also a business model. It will potentially carry ads, sponsorships, membership, user donations. Another is data. If they get it right, they will have surfaced foundational information about the very ways we think.

Munthe thinks all the users will come through Search. “The media opportunity, we think, is 100M+ pageviews/month,” he says.

Munthe’s cofounder is J. Paul Neeley, former Professor of the Royal College of Art, and a Service Designer who’s worked with Unilever and the UK’s Cabinet Office. Munthe himself has been exploring the systemic issues of the media ecosystem for some time. From founding a small magazine in Lebanon, reporting in Iraq in 2003, then starting and exiting Demotix, to launching North Base Media (a media-focused VC).

The temptation, of course, is to allow bias to creep in return for commercial deals. But, says Menthe: “We will never work with political parties, and we will set up our own ethics advisory board. But that understanding should be of value to market researchers and institutions everywhere.”

So now you can find out how coronavirus will change the world?

#biology, #cofounder, #coronavirus, #demotix, #designer, #europe, #google, #iraq, #journalist, #lebanon, #linguistics, #messi, #quora, #tc, #unilever, #united-kingdom, #yahoo

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How will digital media survive the ad crash?

When I first met Bustle Digital Group’s Jason Wagenheim, it was right as New York City was beginning to go into lockdown. The BDG offices were empty thanks to the company’s newly instituted work-from-home policy, but it still seemed reasonable to meet in-person to learn more about BDG’s broader vision.

At the time, Wagenheim — a former Fusion and Condé Nast executive who joined BDG as chief revenue officer before becoming president in February — acknowledged that we were entering a period of uncertainty, but he sounded a note of cautious optimism for the year ahead.

Since then, of course, things have been pretty rough for the digital media industry (along with the rest of the world), with a rapid reduction in ad spending leading to layoffs, furloughs and pay cuts. BDG (which owns properties like Elite Daily, Input, Inverse, Nylon and Bustle itself) had to make its share of cuts, laying off two dozen employees, including the entire staff of The Outline.

And indeed, when I checked back in with Wagenheim, he told me that he’s anticipating a 35% decline in ad revenue for this quarter. And where he’d once hoped BDG would reach $120 or $125 million in ad revenue this year, he’s now trying to figure out “what does our company look like at $75 or $90 million?”

At the same time, he insisted that executives were determined not to completely dismantle the businesses they’d built, and to be prepared whenever advertising does come back.

We also discussed how Wagenheim handled the layoffs, how the company is reinventing its events sponsorship business and the trends he’s seeing in the ad spending that remains. You can read an edited and condensed version of our conversation below.

TechCrunch: We should probably just start with the elephant in the room, which is that you guys had to make some cuts recently. You were hardly the only ones, but do you want to talk about the thought process behind them?

Jason Wagenheim: Yeah, we ended up having to say goodbye to about 7% of our team, and we had salary reductions to the tune of 18% company-wide for those that made over $70,000. And then we had 30% pay cuts for executives.

You’ve read about all this, I’m sure. It was a really, really hard decision. We spent two weeks in planning, dozens of spreadsheets, negotiating with our investors on a plan that would keep the company moving forward, but [had to] be very sober to the reality of what was happening around us. But also most importantly for us, for our executive team, we weren’t about to disassemble the company that we spent the last 12 to 18 months building.

#amazon, #bustle-digital-group, #coronavirus, #covid-19, #elite-daily, #extra-crunch, #jason-wagenheim, #kelloggs, #market-analysis, #media, #netflix, #podcasts, #startups, #streaming-services, #unilever

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Extra Crunch Live: Join Kirsten Green for a Q&A next Thursday at 8 a.m. ET/11 a.m PST/6 p.m. GMT

Last month, the Extra Crunch Live team hosted conversations with folks from all over the venture community that ranged from the pre-seed world with Charles Hudson to shark territory with Mark Cuban. We’re starting off May with a packed agenda, including talks with Hunter Walk of Homebrew and Kirsten Green of Forerunner Ventures. 

Kirsten Green is one of the most respected VCs in the country, with investments in Bonobos, BirchBox, Dollar Shave Club, Glossier, Outdoor Voices, Rockets of Awesome, Hims and Modern Fertility. 

TechCrunch’s Jordan Crook and Natasha Mascarenhas will host the chat with Green and talk about how D2C is changing amidst the coronavirus pandemic. We’ll get into the opportunities ahead for consumer brands, advice she’s giving portfolio companies and how to spot a breakout company. Extra Crunch members can also ask their own questions, so come prepared! 

Green founded Forerunner Ventures in 2010 and has already seen a number of high-profile exits. One of the firm’s first checks went to Dollar Shave Club, which sold to Unilever for $1 billion in 2016. We’ll ask if her investment appetite has changed, which sectors she’s newly bullish on and what metrics are now more important than ever when pitching her. Of course, we’ll get the record on if Forerunner is open for business right now — but we have a feeling it is. 

Kirsten is a founding member of the female mentorship collective All Raise, so expect some conversation on how the landscape is changing for underrepresented founders. 

If we have time, we’ll get into influencer culture, misconceptions about D2C and how founders should think about pitching Green. 

During the call, audience members are encouraged to ask questions. We’ll get to as many as we can, but you can only participate if you’re an Extra Crunch member, so please subscribe here

Extra Crunch subscribers can find the Zoom Link below (with YouTube to follow) as well as a calendar invite so you won’t miss this conversation.

#bonobos, #d2c, #dollar-shave-club, #events, #extra-crunch, #extra-crunch-live, #forerunner-ventures, #kirsten-green, #market-analysis, #outdoor-voices, #startups, #tc, #unilever, #venture-capital

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Marketing data platform Adverity raises $30M Series C led by Sapphire Ventures

In the time many of us live in now, we all know our online media consumption is — to state the obvious — going through the roof. Subsequently, the amount of data pertaining to online marketing is, equally, reaching stratospheric heights and in recent years tech companies like Datorama and Funnel.io, SuperMetrics and Adverity have appeared to give marketeers a data intelligence platform to deal with the welter of spreadsheets and reports necessary to track everything.

Last year, Vienna HQ’d Adverity closed an €11 million Series B funding round for its AI-driven platform to produce actionable insights in real-time for marketers.

Today it’s announcing a Series C financing round of $30 million, bringing the total amount it has raised to $50 million. The latest funding round is led by Valley-based Sapphire Ventures . Also participating is Mangrove Capital Partners, Felix Capital, SAP.iO and aws Gründerfonds who have all re-invested in this latest round. 

The Series C funding will be used to accelerate Adverity’s business growth, office network and R&D. Adverity’s clients include IKEA, Red Bull, Unilever, MediaCom and IPG Mediabrands.

Alexander Igelsböck, CEO and co-founder of Adverity, said in a statement: “Our platform plays a crucial role in helping enterprises become agile, empowering digital teams with intelligent insights. It is imperative we invest in evolving and developing new solutions, improving access and quality, and tackle the challenges of data complexity.”

Nino Marakovic, CEO and managing director at Sapphire Ventures commented that Adverity has “the opportunity to help all companies become more data-driven in their marketing.”

In an interview with TechCrunch, long-time Adverity investor Frederic Court of Felix Capital said: “We backed them as marketing is becoming a science with increasing complexity, we see this across all our consumer investments. Take Farfetch, where there is a dedicated team just for marketing. Adverity enables brands and ad agencies to aggregate their marketing data and extract intelligence automatically. I describe it as having a data scientist in a box, where a brand can understand its marketing data and get smart insights effortlessly. Their technology is very strong and their sales have taken off strongly.”

Speaking to this latest round of investment, he told me: “We were not fundraising but Sapphire was a very compelling partner. Post COVID-19, e-commerce is going to grow even faster (as we see with Shopify, Amazon and across our portfolio) and the company can benefit from this accelerated transition to e-commerce.”

#adverity, #amazon, #artificial-intelligence, #companies, #data-scientist, #e-commerce, #europe, #farfetch, #felix-capital, #frederic-court, #funnel, #ikea, #mangrove-capital-partners, #nino-marakovic, #online-marketing, #publishing, #red-bull, #sapphire-ventures, #shopify, #tc, #techcrunch, #unilever

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