ENTERPRISE AI LEADER SYMPHONYAI TURNS PROFITABLE ON ACCELERATING CUSTOMER AND REVENUE GROWTH

Company builds momentum with new generative AI platform and vertical copilots and solutions, approaching $500M revenue run rate and more than 40% annual recurring revenue (ARR) growth in 2023 

PALO ALTO, Calif., Oct. 4, 2023 /PRNewswire/ -- SymphonyAI, a leader in predictive and generative enterprise AI SaaS, today announced that it expects 2023 revenue run rate to approach $500M. The accelerating revenue growth reflects SymphonyAI's execution of its strategy to rapidly build the leading enterprise AI SaaS company. SymphonyAI software products combine advanced predictive and generative AI to deliver insights, transform workflows, and boost worker productivity in retail, CPG, financial services, industrial manufacturing, and IT systems/enterprise management.

SymphonyAI launched Eureka GenAI, its advanced generative AI core technology platform, earlier this year. It is now releasing vertical-specific industry-leading application suites built on this core technology that integrate predictive and generative AI for workers in their existing workflows. SymphonyAI serves 15 of the top 25 global grocery retailers, the top 25 global CPG manufacturers, and 33 of the world's top 100 financial institutions.

"Each of these generative AI solution suites, with associated copilots and proprietary, predictive AI models, drive higher value for customers, and interest in them has been very strong. These innovations set us up for continued growth," said SymphonyAI CEO Sanjay Dhawan. "SymphonyAI is the innovation leader using the most advanced generative AI technologies in our vertical applications. The hardworking SymphonyAI team has accomplished tremendous things so far in 2023, and we are all energized and focused on even greater growth and success ahead."

SymphonyAI continues to gain new customers globally across its vertical markets. In recent quarters, Marks and Spencer, Save Mart, Coca-Cola Europacific Partners, Infogain, Emircom, Calsun, Save-A-Lot, and Mizuho, among others, have become new customers. As SymphonyAI enriches its product portfolio with SaaS AI, combining predictive and generative AI applications and copilots, the company continues growth with strategic customers, many of whom have been in multi-year relationships with SymphonyAI. Notable recent product expansions from long-term customers include Metro Digital GmbH, Rimi Baltic, and Nippon Gases.   

About SymphonyAI
SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, and IT/enterprise service management. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is a SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani. Learn more at www.symphonyai.com.

CONTACT: Chris Gale at [email protected]

SOURCE SymphonyAI