Bengaluru, NFAPost: Leading Artificial Intelligence (AI) software provider for planning and decision-making o9 Solutions posted a whopping 400 per cent growth in annual recurring revenue (ARR) in the fourth quarter of 2021.
“On a full year basis, our ARR grew more than threefold in 2021 compared to 2020,” said the city-based software company in a statement on Monday. The company, however, did not give the quantum revenue growth in numbers.
Some of the unnamed iconic brands, including a top semiconductor memory firm, North America’s top telecom provider, a multinational cloud company, a leading digital health technologies firm are among 09’s new marquee clients, which started using its digital brain platform.
“We have also acquired customers in West Asia (Middle East) and Southeast Asia during the quarter under review to fuel our growth trajectory,” said the statement.
Client acquisition tripled year-on-year during the quarter. Many clients also expanded use of the company’s solutions.
“During the quarter, we deployed our innovative platform at existing clients, including a well-known beauty company, a large beverage/food retailer and a Fortune 100 construction-equipment manufacturer,” said the statement.
The company has nearly doubled its headcount to 1,600 during the year from about 800 in 2020.
“Our performance in 2021 demonstrated the broad-based applicability of our platform across diverse industries, regions and customers,” said co-founder and chief executive Chakri Gottemukkala on the occasion.
Since the company’s inception in 2009, its AI platform was built to address planning challenges enterprises the world over face.
“Our strong results in 2021 and momentum heading into 2022 validate the value-generation potential of our digital platform for global firms which have embarked on digital transformation,” added Gottemukkala.
According to company’s chief operating officer Igor Rikalo, a record number of clients were acquired in 2021 despite market uncertainty and competition.
“Our performance in quarter four and during 2021 resulted from growth investments made heading into the year. As we scale our team and deploy our platform at more companies, opportunities continue to expand and I look forward to a stronger 2022,” said Rikalo.
The company makes innovations like graph-based enterprise modelling, big data analytics, advanced algorithms for scenario planning, collaborative portals, easy-to-use interfaces and cloud-based delivery./eom/370 words.
