o9 Solutions Inc., a leading provider of Integrated Business Planning platforms for the digital transformation of enterprise-wide planning and decision-making capabilities, announced significant bookings growth during 2020 today.
o9 more than doubled its annual recurring revenue bookings in 2020, demonstrating strong market demand for its platform. The company reported an 83 percent increase in employees in 2020, bringing its total headcount to 830. The company also continued to maintain a robust cash position underscoring its efficient and scaled growth trajectory.
Clients across various industry segments, including Consumer Packaged Goods (CPG), Manufacturing and Retail, are turning to o9’s intelligent, AI-enabled platform to unlock significant business value through superior visibility, predictive and prescriptive insights, and cross-functional collaboration.
“Our continued growth is a true testament to market opportunity. Business leaders are realizing the tremendous value creation potential of using o9’s platform, as the ‘digital brain’ of their enterprise,” said Chakri Gottemukkala, CEO of o9. “The pandemic has exposed the need for real-time, market-driven, and integrated planning across the enterprise. The power, flexibility, and ease-of-use of o9’s platform is driving its rapid adoption and growth, and we see these trends continuing to play out at scale.”
o9 added bookings across all its core industry verticals of CPG, Manufacturing and Retail with notable growth in the Food & Beverage and Fashion & Apparel sub-segments. The company also delivered a record number of global deployments to its clients during 2020 by leveraging its industry specific reference models and realizing rapid time to value across complex planning workflows including demand, supply and S&OP planning.
“We are seeing strong demand indicators heading into 2021 and beyond, and intend to aggressively invest into global growth particularly in China, Latin America and South-East Asia”, said Igor Rikalo, President & COO commenting on o9’s outlook. “o9 has the most advanced cloud-native platform for all planning capabilities, as evidenced by its adoption by leading Fortune 100 companies. We have significantly scaled our capabilities across sales, marketing, and delivery to support our pipeline and expected growth, and are well-positioned to capture the opportunity ahead of us.”
During 2020, o9 achieved several significant milestones including:
* Raising its first-ever external strategic investment from KKR at ‘unicorn’ valuation.
* Expanding its partnership with Deloitte with the announcement of a formal alliance to deliver end-to-end integrated planning and operations capabilities to customers across the world.
* Announcing technology ecosystem partnerships with High Radius for trade promotion planning and settlement, Operaize for manufacturing scheduling and sequencing, project44 for supply chain visibility, FourKites for freight tracking visibility, and Gurobi for state-of-the-art mathematical optimization software
* Adding vTradex and Samsung SDS as regional partners to accelerate go-to-market activities in China and South Korea, respectively
* Provided both technical and business process implementation certifications to thousands of consultants and experts at all the major system integrators, consulting firms and geographical regions
* Significantly expanded the AIM 10x Executive Council with former C-level executives experienced in significant digital transformation across CPG, Retail and Manufacturing industries
* Named as Fastest Growing Private Company in America in Inc. 5000 and Deloitte’s Technology Fast 500 lists for the second consecutive year