Mutinex News

Mutinex raises $17.5m AUD at $132.5m valuation, set to fuel US expansion

Mutinex, the marketing analytics scale-up, has raised a fresh $17.5m AUD in funding. The company is now valued at $132.5m AUD.

Mutinex raises $17.5m AUD at $132.5m valuation, set to fuel US expansion
by Claire Bertolus Oct 10, 2024

Mutinex raises $17.5m AUD at $132.5m valuation, set to fuel US expansion

Mutinex raises $17.5m AUD at $132.5m valuation, set to fuel US expansion

Mutinex, the marketing analytics scale-up, has raised a fresh $17.5m AUD in funding led by Marbruck Investments, supported by EVP and Archangel Ventures. The company is now valued at $132.5m AUD. The funding and valuation has come in response to the incredible success of the company in 2024, expanding its Australian customer base significantly and growing quickly in the APAC and US markets.

In line with the announcement, with highly experienced Chief Revenue Officer, Danny Bass, now settled in his role on the executive team, Co-Founder Matt Farrugia will be taking this opportunity to transition from his global role as Chief Customer Officer into an APAC focused leadership role.

Mutinex Co-Founders Matt Farrugia and Henry Innis both said “We’re pleased to have raised this fresh funding to support our growth into new markets. We are razor focused on improving our fundamental processes including onboarding speed, usage of data and expanding our predictive analytics capability and suite.”

The new capital will fuel efforts in the US, where President US and Multinational, John Sintras has been onboarding a bevy of local customers. Sintras, who has rapidly grown the Mutinex office in the US to be operating across multiple categories and customers, says “Demand for solutions focussed analytics in the US is high, we’re excited to keep growing the team on the ground and rapidly evolving our product to meet the needs of the market. New capital helps us to accelerate both of those things.”

Tom Aouad, Investor at Marbruck commented: “Mutinex’s phenomenal path to date has hit an exciting inflection point, driven by their 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. 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 also reaffirmed his confidence in the scale up “The company has exceptional retention rates with almost every customer we speak to providing glowing reports. 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. $19m invested over the last two years.”

Rayn Ong, Partner at Archangel Ventures said: “In venture investing, you don’t often see software companies scale their revenue following a triple, triple, double, double, double (T2D3) growth trajectory. Henry’s team at Mutinex has achieved more than that, by delivering very high ROI to their blue chip customers. Armed with a strong moat, I’m very bullish about the AI capabilities that will come next. We are grateful to be one of the lucky investors of this fast rising super star Aussie startup.”