Wednesday, April 24, 2024
Outlook.com
Outlook India
Outlook Business

o9 Solutions’ Annual Recurring Revenue Grows By 51 Per Cent In Q3 2023

o9’s overall headcount grew to more than 2,500 to support the company’s ability to accelerate its clients’ time to value

o9 Solutions’ Annual Recurring Revenue Grows By 51 Per Cent In Q3 2023
Chakri Gottemukkala, Co-Founder and CEO of o9 Solutions.
POSTED ON October 17, 2023 3:14 PM

The annual recurring revenue (ARR) gained in Q3 2023 by o9 Solutions, a provider of enterprise AI software platforms for transforming planning and decision-making, increased by 51 per cent year over year. In addition to North America and EMEA, the Company saw broad-based growth driven equally by new and existing clients in Brazil, India, Japan, and Korea. 

The company said in a statement that during the same quarter, it has executed multiple deployments across a range of digital transformation initiatives, delivering significant impact and value to renowned brands belonging to a wide range of industries including food and beverage, retail, telecommunications, soft lines, life sciences, and more.

Its existing investors, led by General Atlantic’s BeyondNetZero, have invested an additional $116 million. Existing investors KKR and Generation Investment Management also participated in the round in the third quarter. The investment ultimately drove o9’s value up to $3.7 billion, the statement added.

Announcements were made to augment its Digital Brain platform with generative AI capabilities including beta programs with key customers. 

The company said that three aim10x Live events in Seoul, Shanghai, and Dallas in Q3 2023, bringing together customers, prospects, and thought leaders in supply chain, procurement, revenue management, IT, and sustainability to share their journeys in digital transformation of planning to create better outcomes for companies, people and the planet.

Three additional aim10x live events are set for Q4 2023 in Amsterdam, Tokyo, and Sao Paulo. By the end of 2023, o9 anticipates that its aim10x Live event series will have drawn in more than 1,000 attendees from hundreds of enterprises around the world to learn about its future-proof integrated business planning platform. Additionally, the Company hosted its first o9 Pioneers event in Q3 2023, bringing together 20 leading chief experience officers from its largest clients for two days of discussions on their digital transformation roadmaps. 

Chakri Gottemukkala, co-founder and CEO of o9 Solutions, said, “In today’s business environment, companies are increasingly turning to integrated business planning platforms to facilitate un-siloed collaboration and data-driven decision-making across their organisations. o9’s ongoing success underscores the exceptional value of our AI-powered Digital Brain platform.” 

  • Related Articles

    The funding will be used to accelerate product development and scale the platform to unlock value for more founders

    Done Deal Secures $800,000 In Pre-Seed Funding Round

    Workruit intends to connect with more than 5 million job searchers globally as part of its global expansion strategy

    Workruit Forays Into International Market, With Expansion In US

    Newly launched CallZen.AI offers a comprehensive solution to address these critical issues and make business operations efficient

    NoBroker Launches Conversational Intelligence Tool CallZen.AI