Adara Ventures

Adara Ventures is a Madrid-based venture capital firm that specializes in early-stage investments in deep tech companies across Western Europe, specifically in Spain, Portugal, France, the United Kingdom, and Ireland. Founded in 2005 by Alberto Gómez and Nicolás Goulet, the firm manages 165 million euros and focuses on sectors such as cybersecurity, big data, artificial intelligence, AdTech, and SaaS. Adara Ventures typically targets technological startups at the seed and series A stages with B2B business models, seeking companies with innovative products that possess a competitive technological advantage in global markets. The firm invests between 0.25 million to 2 million euros initially, with the potential to increase investment up to 9 million euros per company. To date, Adara has invested in 26 companies, achieving notable successes with firms like AlienVault and LoopUp. Current portfolio companies include Stratio, Seedtag, and CounterCraft, reflecting a strong emphasis on complex software solutions designed for high-risk, high-opportunity markets.

Jorge Barón

Principal

Alberto Echeverri

Partner

Alessandro Gambarotta

Associate

Nicolas Goulet

Founding Partner

Goulet Wright, Nicolás Robert

Founder and Managing Partner

Ross Strachan

Partner

Past deals in Spain

Freeverse.io

Series A in 2022
Freeverse builds blockchain technology and products that power new global markets for evolutionary digital assets. We are an experienced team of tech industry veterans, whose vision is to introduce a new generation of products and revenue models to the games industry and beyond, where true digital ownership is a given, and where assets are valued by their usefulness, not by speculation.

Bigle Legal

Seed Round in 2021
Bigle Legal is a Barcelona-based start-up specializing in cloud-based software that automates the management of legal documents for companies and professionals. The platform streamlines the processes of creating, reviewing, sharing, signing, and storing legal documents, which helps mitigate human errors and enhances efficiency. By offering features such as affordability, customization, and cloud storage, Bigle Legal enables clients to save both time and money while effectively managing their legal workflows. The company's innovative approach aims to transform how organizations handle legal documentation, making the process more accessible and reliable.

Seedtag

Series B in 2021
Seedtag is a prominent in-image advertising platform operating in Southern Europe and Latin America. The company specializes in monetizing editorial images by transforming them into advertising spaces, thus generating additional income for publishers. Its innovative technology analyzes and categorizes images, allowing advertisers to align their brands with specific contexts and territories that were previously difficult to access. By integrating advertising directly into selected editorial content, Seedtag enables brands to deliver targeted messages effectively, ultimately enhancing their return on marketing investment. This approach benefits clients, industry players, and corporations by creating a seamless advertising experience that resonates with consumers.

Councilbox

Series A in 2021
Councilbox is a platform designed for conducting online corporate meetings that possess legal validity. It streamlines the entire meeting process, facilitating tasks such as participant management, remote voting, and the automatic drafting of meeting minutes. By offering a comprehensive solution, Councilbox enhances efficiency for companies, enabling them to save resources while ensuring compliance with regulatory requirements. The platform serves as a valuable tool for organizations seeking to manage their meetings effectively in a digital environment.

Freeverse.io

Seed Round in 2021
Freeverse builds blockchain technology and products that power new global markets for evolutionary digital assets. We are an experienced team of tech industry veterans, whose vision is to introduce a new generation of products and revenue models to the games industry and beyond, where true digital ownership is a given, and where assets are valued by their usefulness, not by speculation.

IOMED

Venture Round in 2020
IOMED MEDICAL SOLUTIONS, S.L. develops and delivers artificial intelligence tools for transforming electronic medical records into structured data for clinical research. It offers Medical Language API that extracts the clinical variables from the medical records; DataMed, a federated multi-model database for clinical data; RealMed, a solution to perform multicenter observational studies remotely through a single access point; and MatchMed, a solution find patients for clinical trials with real-world data. The company was incorporated in 2016 and is based in Barcelona, Spain.

Quibim

Seed Round in 2020
Quibim S.L. is a medtech company based in Valencia, Spain, specializing in artificial intelligence and image processing technologies for medical imaging. Established in 2012, Quibim provides advanced services in imaging biomarker extraction and structured reporting, which support early diagnosis, lesion grading, treatment selection, and follow-up. The company also offers solutions for optimizing image acquisition protocols and performing statistical analysis and consultancy services in various medical fields, including oncology, hematology, and neurology. Quibim's proprietary software platform, QUIBIM Precision®, features AI algorithms for quantitative imaging biomarkers and has received CE Mark certification as a Class IIa medical device. The platform serves hospitals, pharmaceutical companies, researchers in precision medicine, and contract research organizations, facilitating enhanced clinical decision-making and research validation.

Scalefast

Series B in 2020
Scalefast is a digital commerce solution that simplifies and streamlines e-Commerce for inspirational brands. The company uses a powerful combination of Artificial Intelligence and e-Commerce expertise. It provides the infrastructure and full-service business operations necessary to scale quickly and increase revenue, with everything needed under one roof. Scalefast takes the complexity out of digital commerce for brands in the entertainment, consumer goods, and fashion industries. It is based in Los Angeles, with offices in Paris and Madrid, and was founded in 2014.

CounterCraft

Seed Round in 2020
CounterCraft SL specializes in cyber deception and counterintelligence solutions aimed at detecting and mitigating targeted cyber attacks. Founded in 2015 and headquartered in San Sebastian, Spain, with offices in London and Madrid, the company provides a platform that allows organizations to design, deploy, and manage counter-intelligence campaigns. Utilizing advanced deception techniques, CounterCraft’s platform creates controlled synthetic environments, enabling threat actors to engage with false information rather than real systems. This approach generates valuable threat intelligence and enhances incident response workflows by continuously adapting defensive measures in real time. The company's client base includes Fortune Global 2000 companies across various sectors, including finance, retail, energy, and government entities, all of whom benefit from its innovative solutions that aim to thwart espionage and intelligence operations while reducing cybersecurity costs.

FLUZO

Venture Round in 2020
Fluzo Technologies, S.L. is a Madrid-based company that specializes in automatic content recognition (ACR) technology, primarily through its innovative SaaS platform. Founded in 2015, Fluzo enables users to monitor content consumption across various devices by utilizing audio fingerprinting technology. This capability allows for cross-media analytics, providing real-time data for audience measurement and advertising research. The platform connects first and second screens, facilitating meaningful insights into how television content is consumed and enhancing user engagement strategies. Fluzo serves a diverse clientele, including content producers, broadcasters, advertisers, and telecom companies, offering tools that empower clients to create interactive content and gain comprehensive metrics on media consumption. This approach not only enhances data-driven strategies but also provides new monetization opportunities for traditional content and advertisements.

BEONx

Series A in 2020
BeOnPrice S.L. is a technology company based in Salamanca, Spain, focused on providing innovative revenue management solutions for the hotel industry. Established in 2012, the company offers tools that facilitate online competitor analysis, delivering real-time data on pricing, availability, and demand within a hotel's competitive landscape. Additionally, BeOnPrice aggregates and analyzes customer reviews from various online portals, enabling hotels to assess their performance against competitors. The company's flagship product, HQI™, is the only index in the hotel market that evaluates overall hotel quality, helping clients understand their competitive position and price elasticity. With a customer base exceeding 2,000 clients across over 30 countries, BeOnPrice serves a diverse range of stakeholders, including new holiday and urban hotels, tourist apartments, and specialized hotel consulting firms.

Kompyte

Venture Round in 2019
Kompyte is a competitive intelligence tool designed to respond in real-time to its users’ competitors' online strategies. It is designed to learn about its users’ competitors’ online strategies in real-time, and respond to them in an easy and affordable way. Kompyte's competitive intelligence software enables businesses to collect, organize, analyze, and act on competitive changes in their market. Kompyte reinvents the way businesses use intelligence to drive sales, marketing performance and product strategies. Serving thousands of product, marketing and sales roles in over 20 industries, across the globe, Kompyte compiles over 3.5T data points a year. Founded in 2014, Kompyte is headquartered in San Francisco with offices in Barcelona and Austin.

Stratio

Series B in 2018
Stratio Big Data, S.L. specializes in providing big data solutions tailored for the travel industry and other sectors, including banking, telecom, insurance, and retail. Founded in 2013 and based in Los Gatos, California, with additional offices in Europe, Stratio develops a range of products designed to enhance data management and analysis. Key offerings include the Gondor Platform, which enables interactive analysis by combining batch and real-time operations, and Stratio Bus, an event bus that facilitates application development. Other notable products are Stratio Real Time for stream processing, Stratio Search for simplified data handling, and Stratio Deep for optimized data summarization and analysis. The company also provides various business solutions such as web experience customization, application monitoring, target marketing, and machine-to-machine systems. Stratio leverages advanced technologies like Apache Spark and Cassandra, focusing on helping organizations transform their digital strategies through effective data utilization.

Hdiv Security

Seed Round in 2018
Hdiv Security SL, founded in 2008 and based in San Sebastián, Spain, specializes in security software that safeguards against security bugs and design flaws throughout the Software Development Lifecycle (SDLC). The company offers a unified platform that enables application self-protection, providing solutions such as hdiv detection, hdiv protection, and hdiv verification. These tools are designed to protect web applications and APIs from the outset of development, addressing root causes of security risks and streamlining compliance with standards like PCI DSS. Hdiv Security's innovative approach automates self-protection, allowing organizations to minimize operational costs and reduce the need for specialized security expertise. Their solutions are utilized across various sectors, including government, banking, and aerospace, making DevSecOps a practical reality for their clients.

CounterCraft

Seed Round in 2018
CounterCraft SL specializes in cyber deception and counterintelligence solutions aimed at detecting and mitigating targeted cyber attacks. Founded in 2015 and headquartered in San Sebastian, Spain, with offices in London and Madrid, the company provides a platform that allows organizations to design, deploy, and manage counter-intelligence campaigns. Utilizing advanced deception techniques, CounterCraft’s platform creates controlled synthetic environments, enabling threat actors to engage with false information rather than real systems. This approach generates valuable threat intelligence and enhances incident response workflows by continuously adapting defensive measures in real time. The company's client base includes Fortune Global 2000 companies across various sectors, including finance, retail, energy, and government entities, all of whom benefit from its innovative solutions that aim to thwart espionage and intelligence operations while reducing cybersecurity costs.

Scalefast

Series A in 2017
Scalefast is a digital commerce solution that simplifies and streamlines e-Commerce for inspirational brands. The company uses a powerful combination of Artificial Intelligence and e-Commerce expertise. It provides the infrastructure and full-service business operations necessary to scale quickly and increase revenue, with everything needed under one roof. Scalefast takes the complexity out of digital commerce for brands in the entertainment, consumer goods, and fashion industries. It is based in Los Angeles, with offices in Paris and Madrid, and was founded in 2014.

Kompyte

Venture Round in 2017
Kompyte is a competitive intelligence tool designed to respond in real-time to its users’ competitors' online strategies. It is designed to learn about its users’ competitors’ online strategies in real-time, and respond to them in an easy and affordable way. Kompyte's competitive intelligence software enables businesses to collect, organize, analyze, and act on competitive changes in their market. Kompyte reinvents the way businesses use intelligence to drive sales, marketing performance and product strategies. Serving thousands of product, marketing and sales roles in over 20 industries, across the globe, Kompyte compiles over 3.5T data points a year. Founded in 2014, Kompyte is headquartered in San Francisco with offices in Barcelona and Austin.

Seedtag

Series A in 2016
Seedtag is a prominent in-image advertising platform operating in Southern Europe and Latin America. The company specializes in monetizing editorial images by transforming them into advertising spaces, thus generating additional income for publishers. Its innovative technology analyzes and categorizes images, allowing advertisers to align their brands with specific contexts and territories that were previously difficult to access. By integrating advertising directly into selected editorial content, Seedtag enables brands to deliver targeted messages effectively, ultimately enhancing their return on marketing investment. This approach benefits clients, industry players, and corporations by creating a seamless advertising experience that resonates with consumers.

CounterCraft

Seed Round in 2016
CounterCraft SL specializes in cyber deception and counterintelligence solutions aimed at detecting and mitigating targeted cyber attacks. Founded in 2015 and headquartered in San Sebastian, Spain, with offices in London and Madrid, the company provides a platform that allows organizations to design, deploy, and manage counter-intelligence campaigns. Utilizing advanced deception techniques, CounterCraft’s platform creates controlled synthetic environments, enabling threat actors to engage with false information rather than real systems. This approach generates valuable threat intelligence and enhances incident response workflows by continuously adapting defensive measures in real time. The company's client base includes Fortune Global 2000 companies across various sectors, including finance, retail, energy, and government entities, all of whom benefit from its innovative solutions that aim to thwart espionage and intelligence operations while reducing cybersecurity costs.

Qbitia

Venture Round in 2016
Qbitia is a software company that develops solutions for capital markets designed to simplify and optimize daily trading work. The company has offices in Chicago, London and Madrid. Qbitia’s flagship product, Qcaid, is a cloud-based automated trading platform that enables business users to quickly and easily design, backtest, optimize and execute trading strategies in real time. Recognized at the 2016 Technical Analyst Awards as the Best Automated Algorithmic Trading Platform, Qcaid speeds up daily investment work and allows traders to test, analyze and implement complex strategies without requiring any programming skills.

Qbitia

Seed Round in 2015
Qbitia is a software company that develops solutions for capital markets designed to simplify and optimize daily trading work. The company has offices in Chicago, London and Madrid. Qbitia’s flagship product, Qcaid, is a cloud-based automated trading platform that enables business users to quickly and easily design, backtest, optimize and execute trading strategies in real time. Recognized at the 2016 Technical Analyst Awards as the Best Automated Algorithmic Trading Platform, Qcaid speeds up daily investment work and allows traders to test, analyze and implement complex strategies without requiring any programming skills.

Caravelo

Venture Round in 2015
Caravelo is a leading technology provider specialized in ancillary revenue solutions for airlines. Formerly known as ChangeYourFlight, the company was founded in 2010 and has a great track record in win-win solutions for airlines and passengers. Caravelo’s yield management solutions are easily aligned to customers commercial strategies and integrated with multiple IT systems, helping all types of carriers generate revenue.

PlayGiga

Series A in 2015
PlayGiga S.L., based in Madrid, Spain, is a cloud gaming solutions provider that operates as a subsidiary of Facebook, Inc. Founded in 2013, the company specializes in delivering "gaming as a service" to telecommunications, publishing, and media companies globally. PlayGiga offers users the ability to play premium video games on PC, Mac, or TV through an affordable monthly subscription, making high-quality gaming accessible without the need for expensive hardware. The company employs advanced virtualization technology to optimize latency and enhance user experience, while also minimizing operational costs. PlayGiga has established partnerships with major clients, including Telecom Italia and Turner International, and boasts a strong catalog of games through advantageous licensing agreements with top publishers. Its services are currently available in markets such as Spain, Italy, Argentina, and Chile.

PlayGiga

Series A in 2014
PlayGiga S.L., based in Madrid, Spain, is a cloud gaming solutions provider that operates as a subsidiary of Facebook, Inc. Founded in 2013, the company specializes in delivering "gaming as a service" to telecommunications, publishing, and media companies globally. PlayGiga offers users the ability to play premium video games on PC, Mac, or TV through an affordable monthly subscription, making high-quality gaming accessible without the need for expensive hardware. The company employs advanced virtualization technology to optimize latency and enhance user experience, while also minimizing operational costs. PlayGiga has established partnerships with major clients, including Telecom Italia and Turner International, and boasts a strong catalog of games through advantageous licensing agreements with top publishers. Its services are currently available in markets such as Spain, Italy, Argentina, and Chile.

Stratio

Series A in 2014
Stratio Big Data, S.L. specializes in providing big data solutions tailored for the travel industry and other sectors, including banking, telecom, insurance, and retail. Founded in 2013 and based in Los Gatos, California, with additional offices in Europe, Stratio develops a range of products designed to enhance data management and analysis. Key offerings include the Gondor Platform, which enables interactive analysis by combining batch and real-time operations, and Stratio Bus, an event bus that facilitates application development. Other notable products are Stratio Real Time for stream processing, Stratio Search for simplified data handling, and Stratio Deep for optimized data summarization and analysis. The company also provides various business solutions such as web experience customization, application monitoring, target marketing, and machine-to-machine systems. Stratio leverages advanced technologies like Apache Spark and Cassandra, focusing on helping organizations transform their digital strategies through effective data utilization.

Genasys

Series A in 2009
Genasys is a provider of advanced technological solutions focused on mobile unit location and geographic data management. The company offers a range of middleware products, including the Genasys Positioning Platform, which utilizes various location technologies based on satellites and terrestrial networks. Its services also encompass geographic data management through tools like GenaMap, which supports a wide array of applications across sectors such as security, defense, transportation, and urban planning. Additionally, Genasys specializes in critical communications solutions, particularly in directed sound technologies and location-based mass messaging for emergency alerts and workforce management. The company primarily generates revenue through its hardware segment and has a significant customer base across the Americas, as well as a presence in Asia Pacific and Europe, the Middle East, and Africa.

Openbravo

Series B in 2008
Openbravo SL specializes in developing web-based enterprise resource planning (ERP) and point-of-sale (POS) solutions tailored for midsize and large specialty retailers. Founded in 2001 and based in Pamplona, Spain, the company offers a range of products including the Openbravo ERP, Openbravo POS, Openbravo Store, and the Openbravo Commerce Suite, which enables retailers to manage their operations across multiple channels effectively. The platform is designed to be flexible, mobile-enabled, and cloud-ready, facilitating seamless integration with existing systems. Openbravo also provides consulting, training, and support services, and has a global presence with offices in several countries including France, India, Mexico, and Spain. The company operates through a network of authorized partners to distribute its software solutions, fostering innovation and adaptation in a rapidly evolving retail landscape.

Advanced Digital Design

Series A in 2007
Advanced Digital Design develops system-on-chip (SoC) solutions for narrow band communications and digital data processes. The company’s product portfolio includes SoC solutions for narrowband power line communications; ASIC solutions for PLC base nodes implementation; and various starter and development kits. Advanced Digital Design offers its solutions for metering, home automation, intelligent buildings, lighting management, water management, photovoltaic installations, and machine-to-machine applications. It offers its products through a network of distributors in the Russian Federation, China, and Japan. Advanced Digital Design was founded in 2001 and is based in Zaragoza, Spain. As of October 6, 2011, the company operates as a subsidiary of Atmel Corporation.

illuminate Solutions

Series A in 2006
illuminate Solutions is the pioneer of the correlation database management system (CDBMS) for building enterprise data warehouses, data marts and analytics applications. The CDBMS is a significant departure from the two types of database architectures most commonly used in data warehouse design: relational systems and column databases. The CDBMS eliminates the need to predefine user requirements and to design upfront a database schema by automatically creatig a data-generated schema and indexing 100% of data values on the fly during the loading process. This materially reduces both time-to-analytics and time-to-answer compared to other database technologies. The first version of the correlation database engine was released in Europe in 2005 and, within two years, was in production at more than 40 customer sites in Europe and Latin America. In early 2008, the company began offering its products in North America. illuminate sells and supports its products in all regions exclusively through partner networks comprised of IT consulting services firms and management consulting companies. The company's products include the iLuminate correlation database engine and the iCorrelate data warehouse exploration and ad hoc query tool for data analysis. Queries created using the iCorrelate tool can be save as stored procedures for use with any ODBC-compliant tool.

Polymita Technologies

Series B in 2006
Polymita Technologies specializes in business process management (BPM) software and enterprise content management (ECM) services. The company is recognized for its ability to enhance productivity, lower operational costs, increase revenues, and provide greater control and visibility over business activities. Polymita has established itself as a leader in the BPM sector, noted for its efficient implementation processes and unified architecture. This reputation is supported by recognition from industry analysts, underscoring its commitment to delivering effective business solutions.

Ecutronic Technologies

Venture Round in 2005
Ecutronic Technologies, SL specializes in the production of diagnostic systems designed for car repair workshops and field assistance. The company focuses on manufacturing equipment that facilitates the monitoring of engine performance and emissions analysis. Based in Malaga, Spain, Ecutronic Technologies aims to provide effective solutions to enhance the efficiency and accuracy of automotive diagnostics.
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