o9 Solutions on Wednesday said it has received equity investments totalling USD 295 million from General Atlantic, including its climate investing venture BeyondNetZero, Generation Investment Management and existing investor KKR, valuing the enterprise AI software platform at USD 2.7 billion.
This marks an increase from the USD 1 billion valuation in April 2020 at the time of the company’s first-ever external investment led by KKR, a statement said. In early 2020, KKR had made a minority investment of USD 100 million. This capital raise follows a record year during which the company reported a greater than threefold increase year-over-year in annual recurring revenue (ARR) from new customers, it added.
This significant investment will help o9 build on its momentum and accelerate growth for its AI-powered Integrated Business Planning platform it calls the “Digital Brain” across industry verticals and markets, the statement said. The funding will also help o9 drive continued innovation in R&D, industry knowledge models and partner ecosystem development, it added. Companies across varied industry verticals that include retail, consumer and industrial products manufacturing, high-tech and semiconductor, life sciences, automotive, telecom, and oil and gas leverage o9’s platform for transforming their supply chain, commercial and integrated business planning capabilities.
“Demand and supply volatility and complexity has been growing and the pandemic has only accelerated the challenges companies face in meeting customer service and financial goals. “At the same time, there is significant pressure on boards and executives from customers and employees to also drive meaningful improvements in sustainability goals,” o9 co-founder and CEO Chakri Gottemukkala said. o9 is poised perfectly to help companies deal with these mega trends with a differentiated, proven platform, Gottemukkala added.