Advertising industry leaders Nick Garrett and Andrew Baxter have just invested in a software startup, Mutiny and its WarChest product.
WarChest is Mutiny’s SaaS marketing investment analytics platform, combining econometrics, marketing automation, predictive analytics and machine learning.
It gives marketers and agencies a view of media performance from a revenue management perspective, including long-term effects.
As a result of the investment, Mutiny will be hiring staff across sales, customer success and deployment development.
The investment was done at a $12 million pre-money valuation, with the business now securing more than 90% of its revenue from software licensing.
The level of investment by Garrett and Baxter isn’t known.
Mutiny was founded in 2018 by Matt Farrugia and Henry Innis who launched WarChest in 2019.
Adman and marketer Baxter: “There’s never been a more important time for marketing accountability in the boardroom and WarChest is the platform that drives that accountability across a fragmented marketing landscape.
“Knowing the problems facing marketers in the space, it made sense there would be a market for a solution.
“WarChest is proving to be critically important to marketers, CFOs and CEOs across a range of sectors, and is a platform I strongly believe is meeting these challenges.”
Garrett, a former CEO of Clemenger BBDO, says most see data and creativity as opposing forces.
“But as any creative practitioner knows, proving the value of creativity is as important as believing in it,” he says.
‘In Mutiny and WarChest I saw a business that would be able to industrialise this space and make a meaningful impact to our industry.
“I also just love the energy and passion Matt and Henry bring every-day to what they do and the scale of their ambition. I have learnt a lot and had a lot of fun working with them as an advisor over the last 18 months, so investing in something you believe in was a no brainer.
“I am excited to see them do something positive to create a category and reinvent analytics to support media and creativity rather than oppose it.”
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