202220 Jun

Mutiny eyes 200pc expansion after $2.4m seed round

Summary

Co-founder Matt Farrugia said Mutinys WarChest platform solved the age-old question for marketers and CEOs of are we spending or marketing dollars effectively?Were taking that a step further, by not just saying yes it is spending effectively, were also enabling capabilities that customers are able to embed in their organisation, rather than relying on external consultants that might normally take three to eight months, sometimes even more to produce those reports that help them make those decisions, he said.Marketers and organisations can embed this capability rapidly with our product, connect a huge amount of data sets and make those decisions more frequently.Mutiny launched in late 2018 and now has about 20 enterprise customer accounts, including Samsung Australia, Asahi Oceania, MeBank and ING.Weve got about a 20 headcount, we can bring that up to about 25 pretty quickly, Mr Innis said on the companys size.The revenue comes off a pretty low base, but it is tracking at about 20 to 30 per cent growth every month.Mr Innis said the aim was to grow Mutinys business by 200 per cent over the next 12 months.The next kind of component of that is how many decisions have we generated for customers, and how much value we contributed back to the market, he said.Initial investors in the company include former chairman and chief executive of Publicis Worldwide Australia, Andrew Baxter, and Deloitte Creative partner Nick Garrett.The latest capital raising has attracted a number of marketing experts, such as former Starcom chairman John Sintras; Sayers Group partner Russel Howcroft; and former STW Group chief operating officer Chris Savage, who have all come on board as investors.Outside of marketing expertise, other investors include Eucalyptus co-founders Charlie Gearside and Alexey Mitko; UK fund Bloomsbury Information Capital; chairman of iSelect, endota and private equity leader Brodie Arnhold; former COO of Airtasker Yaniv Bernstein; former CIO of Rio Tinto Simon Benney; and international business leader Sir Robin Miller.Eucalyptus co-founder Mr Gearside said: Mutiny has a need and overdue solution for the marketing industry and these are founders who simply get the real user problems in marketing. I cant wait to see where it goes, and excited to be on the journey.Eucalyptus is the company behind brands such as mens health company Pilot, Nicole Lius Kin Fertility, personalised skincare business Software, menopause treatment business Juniper and sexual wellness brand Normal.Brodie Arnhold, chairman of iSelect, said boardrooms were starting to demand that marketing be treated as an investment.In order to do that, the tooling and the data marketers and CEOs need to access will be different. Mutiny unlocks tooling and data as an experience, and fundamentally helps to navigate these challenges with a scalablesoftware solution, he said.Its something that will become ubiquitous in the future in my view, and thats why I was excited to invest in the business. I can certainly see Shaver Shop, a business I chair with $10 million plus in marketing spend, being a future user of a platform like this.

Source: Afr

Funding

$2.4M
Amount
Jun 20 2022
Date
-
Investor
Mutiny
Company

Classifications

Companies