Melbourne-based martech startup Mutinex has announced a $5 million seed extension funding round to help further its expansion (lead image: Matt Farrugia, COO, and Henry Innis, CEO, Mutinex)
The business focuses on marketing investment analytics and built its GrowthOS software product to provide marketers with insights to help target their marketing spend.
The company saw 300 per cent growth last year and is valued at $37 million. It counts the likes of ING, Samsung Australia, Asahi Oceanie, and Intuit Australia among its more than 20 clients.
EVP’s Justin Lipman has also joined Mutinex’s Board.
“Mutinex as a business has the potential to transform the entire marketing industry. With a clear vision as to how to create the Bloomberg of Growth, supported by a well-disciplined management team, it’s clear Mutinex has the potential to become the dominant market leader in this category. When we reviewed the business in due diligence, it was clear the team weren’t just exceptional product operators but deeply understood how to create a sustainable business with exceptionally strong unit economics. We are thrilled to partner to help them become the leader in Marketing Investment Analytics,” said Lipman.
The company is also looking to expand its team, as well as scaling its self-service onboarding tool, its recommendation engine, and account management functions.
“We will be looking to add another 30 people in short order, and are looking to scale to 50
people prior to year’s end,” said Mutinex CEO Henry Innis.
“It’s an extremely exciting time to be joining the market leader for investment analytics, and we are thrilled to continue to expand our vision of organizing complexity to surface high investment return decisions.”
