Mutinex Gets More Funds, Plans Twenty More Hires

Sydney-based marketing investment analytics firm Mutinex has extended its seed round of funding by $5m, valuing the firm at $AUD 37m.

The company, founded by COO Matt Farrugia and CEO Henry Innis, rebranded from Mutiny last year. Its flagship platform, WarChest, helps to analyse marketers' past decisions and then predict the value of future choices.

The round was led by venture capital firm Equity Venture Partners, and backed by a majority of the company's existing shareholders. EVP's Justin Lipman joins the board of Mutinex and says the firm 'has the potential to transform the entire marketing industry'.

Headcount is currently about 30 and Mutinex plans to grow this to around 50 by the end of 2023. Web site: www.mutinex.co .