Mutiny has announced a strategic round of investment from industry leaders Nick Garrett and Andrew ‘Billy’ Baxter. Garrett and Baxter will join Mutiny as investors, helping to take Mutiny to new heights as it continues its rapid deployment of the WarChest platform.
WarChest is Mutiny’s flagship SaaS media investment analytics platform, which combines econometrics, marketing automation, predictive analytics and machine learning.
Mutiny’s WarChest can be harnessed by marketers
WarChest gives marketers and agencies the best view of media’s performance from a revenue management perspective, including long-term effects of media.
As a result of the investment, Mutiny will be hiring multiple roles across sales, customer success and deployment development.
The investment was done at a $12m pre-money valuation, with Mutiny securing more than 90% of its revenue from software licensing; a marked change from early consultancy days.
Law firm Addisons, led by Kieren Parker, handled the transaction. Mutiny was founded in 2018 by Matt Farrugia and Henry Innis who launched WarChest in 2019.
Stakeholder comments on Mutiny’s WarChest
Henry Innis, co-founder and partner, commented, “Nick and Billy advised the business informally for a period of time as we built the platform and technology.”
“We’re thrilled to formalise their involvement with us as investors in the business as well to take Mutiny and WarChest to new heights with their support.”
Andrew ‘Billy’ Baxter said, “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.”
Nick Garrett said, “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.”
“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.”
“Am excited to see them do something positive to create a category and reinvent analytics to support media and creativity rather than oppose it,” said Nick Garrett.
