Redwood City‚ Calif. – May 9‚ 2017 – C3.ai‚ the platform as a service leader for rapidly developing and operating AI and IoT software applications‚ reported record results for its fiscal year 2017‚ ended March 31‚ 2017.
- Revenue increased 65% year over year.
- Bookings grew approximately 600% year over year.
- Cash-positive operations for fiscal year 2017.
- Expansion into new vertical markets and geographic regions.
- 100 million sensors and devices under management.
“C3.ai is seeing dramatic demand growth globally across all industry sectors driven by CEO-led corporate digital transformation mandates that encompass big data‚ AI‚ machine learning‚ and IoT. We are expanding our delivery‚ strategic alliance‚ and customer service capacity apace to serve this growing market demand‚” said Thomas M. Siebel‚ CEO‚ C3.ai.
Fiscal year 2017 marked major milestones for C3.ai with significant new projects delivered across industries including manufacturing‚ healthcare‚ aerospace‚ financial services‚ oil and gas‚ and utilities. These companies selected C3.ai as the foundation for their digital transformation to rapidly develop and deploy AI across the enterprise.
Key achievements this year:
- Significant projects delivered in less than three months for financial services consumer spend prediction‚ discrete manufacturing dynamic inventory optimization and supply network risk‚ healthcare chronic disease prediction‚ oil and gas predictive maintenance‚ renewable and thermal generation and optimization‚ and data lakes.
- Extended the C3 Platform with deep learning capabilities to increase the precision and accuracy of predictive analytics.
- Global Fortune 500 company ENGIE launched its enterprise-wide digital transformation strategy by deploying C3.ai’s platform after a thorough competitive evaluation.
- Con Edison selected C3.ai to provide the enterprise analytics foundation and software applications that enable the company to operationalize data from five million smart meters‚ ensuring sensor network health and enabling innovative products and services.
- C3.ai was awarded Glassdoor’s 2017 Best Place to Work Award.
- C3.ai received one of 2016’s largest IoT funding rounds of $97 million led by TPG Growth‚ followed by Series E financing led by Breyer Capital.