Australian marketing measurement start-up Mutinex has raised a fresh $17.5 million in funding led by Marbruck Investments, supported by EVP and Archangel Ventures.
The company is now valued at $132.5 million. A year ago, Mutinex raised $9.5 million in new capital, valuing the company at $75 million.
The new capital will fuel efforts in the US.
"We are razor focused on improving our fundamental processes including onboarding speed, usage of data and expanding our predictive analytics capability and suite," said Mutinex co-founders Matt Farrugia and Henry Innis.
Tom Aouad, Investor at Marbruck said Mutinex's phenomenal path to date has hit an exciting inflection point, driven by AI advancements that allow clients to replace traditional marketing consultants.
"Their technical team’s capabilities and efficient enterprise onboarding through DataOS and Growth OS, coupled with an impressive US client base, set them apart from competitors in market," said Aouad.
"We're excited to partner up with the team at Mutinex as their innovative approach and strong momentum have us excited about the future.”
Justin Lipman, partner at EVP, said the company has exceptional retention rates.
"It is clear the product is delivering significant ROI across its customer base making adoption across the market straightforward. Mutinex is far and away the largest investment in EVP's history at c. $19 million invested over the last two years.”
Rayn Ong, Partner at Archangel Ventures, said Mutinex had delivered high ROI for blue chip customers.
"Armed with a strong moat, I’m very bullish about the AI capabilities that will come next," Ong said. "We are grateful to be one of the lucky investors of this fast rising super star Aussie startup.”
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