Growth analytics startup Mutinex raises $17.5m from Marbruck, EVP, Archangel
The investment, which values the Australian company at $132.5 million, will be used to beef up its AI-driven marketing analytics platform and for US expansion.
Mutinex, a growth analytics startup, has raised $17.5 million in a new funding round at a post money valuation of $132.5 million. The investment was led by Marbruck Investments, with support from existing backers EVP and Archangel Ventures.
Justin Lipman, partner at EVP, reaffirmed the firm's confidence in Mutinex, noting the company's exceptional customer retention rates and significant ROI delivery as reasons why Mutinex was EVP's largest investment to date, with approximately $19 million invested over the past two years.
Mutinex was founded by Henry Innis and Matt Farrugia after they grew frustrated with the limitations of existing marketing and advertising tools. As Innis told Capital Brief, "we both understood the 4P's of marketing, which is price, promotion, product and place, but advertising had increasingly become skewed towards measuring just a very narrow subset of promotions, which is basically performance marketing."
The founders' goal was to create an "operating system for growth", rather than simply another analytics dashboard.
