Marketing mix modelling scale-up Mutinex has secured a further $17.5m AUD of investment in a funding round led by Marbruck Investments, with support from EVP and Archangel Ventures. The latest raise brings the firm's valuation up to $132.5m AUD.

The new capital will fuel efforts in the US, where President US and Multinational, John Sintras, has been onboarding a bevy of local customers.

"Demand for solutions focussed analytics in the US is high, we're excited to keep growing the team on the ground and rapidly evolving our product to meet the needs of the market. New capital helps us to accelerate both of those things," said Sintras.

Meanwhile, speculation of Mutinex co-founder Matt Farrugia's exit has been settled, with the confirmation he will be taking on an APAC-focused leadership role after transitioning out of his global role as chief customer officer. That, per Mutinex, comes as newly joined chief revenue officer Danny Bass settles into his role.

Earlier this month, marketing analytics outfit confirmed the exit of APAC CEO, Mat Baxter, who had joined just four months earlier, after returning to the Australian market. Baxter, who remains with Mutinex in an advisory capacity, cited a clash of big personalities with co-founder and global CEO Henry Innis.

"Going in I think we both knew this would be a grand experiment. What became apparent to me in the 4 months since joining is that there's not enough space for Henry and I in the day to day business," he said.

"We're pleased to have raised this fresh funding to support our growth into new markets. We are razor focused on improving our fundamental processes including onboarding speed, usage of data and expanding our predictive analytics capability and suite," said Farrugia and Innis.

Investor at Marbruck, Tom Aouad, said his firm was confident in Mutinex's future. "Mutinex's phenomenal path to date has hit an exciting inflection point, driven by their AI advancements that allow clients to replace traditional marketing consultants. Their technical team's capabilities and efficient enterprise onboarding through DataOS and Growth OS, coupled with an impressive US client base, set them apart from competitors in market. "

Partner at EVP, Justin Lipman, added: "The company has exceptional retention rates with almost every customer we speak to providing glowing reports. It is clear the product is delivering significant ROI across its customer base making adoption across the market straightforward. Mutinex is far and away the largest investment in EVP's history at c. $19m invested over the last two years.

Partner at Archangel Ventures, Rayn Ong, said: "In venture investing, you don't often see software companies scale their revenue following a triple, triple, double, double, double (T2D3) growth trajectory. Henry's team at Mutinex has achieved more than that, by delivering very high ROI to their blue-chip customers. Armed with a strong moat, I'm very bullish about the AI capabilities that will come next. We are grateful to be one of the lucky investors of this fast rising super star Aussie startup."