![]() “Unfortunately, there are a lot of those software solutions in corporate Australia and globally. We see a lot of businesses selling into enterprises where it’s almost akin to ‘shelf-ware’: It’s a great promise, an interesting idea that gets purchased by mid-level management but then never gets used and doesn’t drive any value,” said Lipman. Mutinex’s methodology is sufficiently robust and predictive that CFOs accept the contribution the model attributes to incremental business impact from marketing activities on baseline sales – including brand building. Plus, it is finance departments as much as marketing that are driving the sign-ups. “ they had changed internal business process around the software, how they have come to rely on it internally – from decisioning around spend allocation through to internal reporting functions, and then obviously through getting value and uplift based on the recommendations the software is providing,” he added. “We look to invest in mission critical, almost infrastructure-like tooling that organisations rely on to run their business day-to-day and certainly Mutinex would fit that bill,” said Lipman. ![]() “We're very much looking for industry insiders solving their own problem almost in their own world,” said Lipman, adding that conversations with Mutinex’s big brand customers formed a key plank of EVP's due diligence. ![]() “We see around 2,000 companies a year,” said Lipman, “and last year we invested in six.” In terms of product, customers and runway, he said Mutinex “ticks all the boxes of what a great B2B software company in the early stage looks like.” The VC has form for getting in early, backing the likes of SiteMinder, Deputy and Shippit. Marketing analytics platform Mutinex has secured funding that takes its valuation to $37m – and brings venture capital backing from a Sydney-based B2B SaaS specialist VC eyeing a 10x valuation lift in five years for its new investment.ĮVP currently has around $280m under management via “40 portfolio companies that look and smell and feel almost identical – all we do is invest in B2B software businesses,” Partner Justin Lipman told Mi3.
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