The Vienna based tech start-up Adverity, a provider of a marketing intelligence platform, successfully closed a EUR 23 million series C funding round led by Sapphire Ventures, with participation from Felix Capital, Mangrove Capital and aws Gründerfonds.

This marks the successful closing of the third and to date largest financing round of Adverity. Considering the previous rounds, Adverity has now in total raised over EUR 38 million in investments. The series C funds are intended to be used to further continue Adverity’s growth and expansion in particular on the US market.

The series C funding round was led by Palo Alto-based venture capital firm Sapphire Ventures, which invested alongside Felix Capital, Mangrove Capital and aws Gründerfonds. Since its founding, Sapphire Ventures has had more than 20 IPOs, and has helped create over USD 100 billion in enterprise value.
Sapphire Ventures was advised by a Binder Grösswang team led by Andreas Hable (managing partner) and Moritz Salzgeber (senior associate, both corporate/M&A).

The team further included Thomas Schirmer (partner, corporate/M&A), Hermann Beurle, Florian Dollenz (both associates, corporate/M&A) and senior associates Regina Kröll (regulatory), Philipp Spring (IP/IT), Johannes Bammer (employment) and Michael Delitz (real estate).

Adverity and the majority of its existing shareholders were advised by FREIMÜLLER / OBEREDER / PILZ, namely by Michael Pilz (partner) and Hannah Kercz (associate).