o9 Solutions, an AI software platform provider for transforming planning and decision-making for global enterprises, has raised $116 million from its existing investors. The round was led by General Atlantic’s Beyond NetZero and other existing investors like  KKR and Generation Investment Management also participated.

The investment follows a 55 per cent year-over-year growth in Annual Recurring Revenue (ARR) as of Q2’23. The Company also reported 67 per cent year-over-year ARR growth as of Q1’23 and 65% growth in 2022.

The round has valued o9 at $3.7 billion, up from $2.7 billion since the Company’s last investment round in January 2022.

In conjunction with the transaction, o9 has also announced that General Atlantic Operating Partner and tenured business executive Gary Reiner has joined the Company’s Board of Directors, bringing deep expertise at the intersection of technology, strategy and operations.  

Reiner joined General Atlantic in 2010 and provides strategic support and counsel to the firm’s technology investment teams and portfolio companies. Prior to joining General Atlantic, Reiner served as Senior Vice President and Chief Information Officer at General Electric for nearly 20 years. Prior to that, he was a Partner with The Boston Consulting Group. 
 
“We continue to be thrilled with o9’s terrific customer value proposition, offering truly material and measurable outcomes relative to traditional planning software vendors and thereby providing strong blue chip client satisfaction,” said Gary Reiner, Operating Partner at General Atlantic. 

“Since we first partnered with o9 in early 2022, the Company has helped deliver significant revenue growth, working capital improvements and expense reductions for many large global enterprises. Our deepened support of o9 reflects the enthusiasm we have for the business and its seasoned management team, particularly as their innovative model supports the transition to more sustainable supply chains across the enterprise. We look forward to our continued partnership,” he noted. 
 
“The investment by our existing investors at a premium to our last funding round and against a backdrop of an overall pullback in market valuations is continued validation of our performance and execution against our long-term strategy,” said Chakri Gottemukkala, Co-Founder and CEO, o9 Solutions. 

“We will continue our strategy of client satisfaction and innovation as a driver of efficient growth across industry verticals and markets,” he added.