SmartStateIndia
News

o9 Solutions Reports More Than 400% Growth in ARR in Q4 2021

o9 Solutions-Chakri-Gottemukkala

o9 Solutions Inc., a leading enterprise AI software platform provider for transforming planning and decision-making, reported a 400%+ increase in year-over-year growth in annual recurring revenue (ARR) from new customers during Q4’21. On a full year basis, o9’s ARR grew more than threefold in 2021 compared to 2020.

Some of the world’s most iconic brands signed up to use the o9 Digital Brain platform during the quarter—including the world’s No. 1 semiconductor memory company, North America’s top telecommunication provider, a multinational edge-to-cloud technology firm, a leading digital health technologies company, a high-growth producer of sustainable foods, and many more. o9 also acquired its first customers in the Middle East and Southeast Asia in Q4’21, opening new and significant geographies to further fuel its growth trajectory.

Client expansions—enabled by continued value creation—tripled year-over-year in Q4’21. This included multiple clients that expanded their use of o9’s solutions within 12 months of their initial purchase, reinforcing the rapid value delivered by o9’s platform. During the quarter, o9 also successfully deployed its innovative planning and decision-making platform at existing clients—including one of the world’s most well-known beauty companies, a large beverage/food retailer, and a Fortune 100 construction-equipment manufacturer.

In addition, o9’s worldwide talent pool continues to grow as the number of employees now exceeds 1,600, nearly double the number at the end of 2020.

“Our performance in 2021 continued to demonstrate the broad-based applicability of o9’s platform across diverse industries, regions, and types of customers,” said Chakri Gottemukkala, co-founder and CEO of o9. “Since its inception, the o9 platform was built to address the most critical planning challenges that global enterprises are facing and to do so in a scalable fashion. Our very strong results in 2021 and our momentum heading into 2022 are a clear validation of the massive value-generation potential of a digital platform like the o9 Digital Brain for global companies who have embarked on a digital transformation journey.”

“Despite a year marked by significant market uncertainty and an increasingly competitive business landscape, we achieved a record number of new customer wins as well as expansions with existing customers in 2021,” said Igor Rikalo, President and Chief Operating Officer at o9. “Our performance this quarter and throughout 2021 resulted largely from growth investments made heading into the year. As we have continued to scale our team and deploy our platform at more companies, our opportunities continue to expand rapidly and I am looking forward to an even stronger 2022.”

Notable highlights during Q4’21 include:

Note: ARR refers to contracted annual recurring revenues for o9’s software solutions and was referred to as bookings in prior press releases made by the company.

Related posts

ABB and IBM to Bolster Cybersecurity for Industrial Operations

SSI Bureau

Cognitus Announces Partnership With Natuvion for Custom Data Migration

SSI Bureau

Networks As a Service Adoption To Accelerate

SSI Bureau

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More