o9 Solutions raises USD 116 million

Enterprise AI software company o9 Solutions has raised USD 116 million (around Rs 952 crore) from existing investors led by General Atlantic’s BeyondNetZero.

Existing investors KKR and Generation Investment Management also infused funds into the company, it said in a statement on Wednesday. The company said after the investment, the valuation has gone up to USD 3.7 billion from USD 2.7 billion since their last investment round in January 2022. “o9 Solutions… today announced that its existing investors, led by General Atlantic’s BeyondNetZero, the inaugural companion fund for the growth equity firm’s climate investing efforts, have invested an additional USD 116 million in the company,” it said.

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o9 also announced that General Atlantic Operating Partner Gary Reiner has joined its board of directors. Reiner is also on the board of companies like HP, Citigroup, Zoomin, and CitiusTech, and has served as a partner at Boston Consulting Group (BCG) and as chief information officer at General Electric. “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. We look forward to our continued partnership,” Reiner said.

o9 Solutions Co-Founder and Chief Executive Officer (CEO) Chakri Gottemukkala said investment by existing investors at a premium to the last funding round and against a backdrop of an overall pullback in market valuations is a “validation of our performance and execution against our long-term strategy”.