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Marketing investment analytics startup Mutiny just raised $2.4 million to expand and further scale its SaaS platform.
The round, primarily backed by technology, data and marketing industry leaders as well as existing investors, was heavily oversubscribed.
The money is being used to fund further expansion of capacity to drive self-service onboarding and generate automated customer insights, as well as initial expansion into the United States, where the market is a hundred times larger. bigger than Australia.
Joining current investors Andrew Baxter and Nick Garrett are John Sintras (former Chairman of Starcom), Russel Howcroft and Chris Savage, as well as Charlie Gearside, Alexey Mitko (co-founders of Eucalyptus), UK fund Bloomsbury Information Capital, Chairman of ‘iSelect, endota and private equity leader Brodie Arnhold, former Airtasker COO Yaniv Bernstein, former Rio Tinto CIO and Data & Analytics leader Simon Benney and international business leader Sir Robin Miller.
Mutiny co-founders Henry Innis and Matt Farrugia: “This capital raise allows us to expand well beyond our core product, with a focus on technology enablers for product-driven growth.
“We plan to continue to build an awesome bottom-up SaaS model that is not just purchased, but widely used in marketing organizations and is part of their DNA. We are truly grateful to have had amazing supporters alongside our existing investors.”
Mutiny is a marketing investment analytics platform and already has a large customer base which includes Samsung Australia, Asahi Oceania, MeBank and ING along with many more, all gained over the last couple of years.
The platform is able to analyze and optimize marketing spend performance by media channel and even by program in near real-time, giving clear ROI insights that allow marketers to better predict and evaluate. future marketing expenses and returns.
Mutiny has a subscription model with high utilization and throughput that can be integrated into customer workflows, making its data permanent. Renewal rates are close to 100%.
Simon Benney (Bloomsbury Information Capital): “Mutiny uses cutting-edge technology, data, analytics and artificial intelligence to make better marketing investment decisions and increase shareholder returns. It’s incredibly exciting to see
innovative technology, applied intelligently, to solve business challenges that have not been properly addressed before.”
Charlie Gearside: “Mutiny has an overdue need and solution for the marketing industry and it’s founders just getting the real user issues in marketing. I can’t wait to see where it goes, and I’m excited to be part of the journey.
Brodie Arnhold: “More and more in the boardroom, there is a huge demand and focus for marketing to be treated as an investment. To do this, the tools and data that marketers and CEOs need to access will be different.
“Mutiny unlocks tools and data as an experience, and fundamentally helps address these challenges with a scalable software solution. It’s something that will become ubiquitous in the future in my opinion, and that’s why I was excited to invest in the company I can definitely see Shaver Shop, a company I chair with over $10 million in marketing spend, being a future user of a platform like this.
Sir Robin Miller: “Mutiny solves the age-old problem of what marketing brings in financially, and it’s nice to see a high-growth Australian company ready for international markets.”
Chris Savage: “Mutiny is a brilliant and indispensable addition to the marketing effectiveness landscape. It’s run by two extremely talented young entrepreneurs, and I’m thrilled to be part of the next chapter in this exciting growth story. »
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