Redwood City‚ Calif. – May 30‚ 2018 – For the second consecutive year‚ C3.ai‚ the leading AI and IoT software platform for digital transformation‚ reported record fiscal year results. In the fiscal year that ended April 30‚ 2018:
- Revenue increased 60% year over year.
- Bookings grew 130% year over year.
- Global workforce doubled.
- Geographic presence expanded with new APAC headquarters and increased footprint in Europe.
- Customers added across strategic industry sectors‚ including aerospace and defense‚ healthcare‚ discrete manufacturing‚ oil and gas‚ mining‚ and financial services.
- New partnership announced with Microsoft Azure that expands C3.ai’s addressable market.
“C3.ai is focused on running a rapidly growing‚ profitable‚ cash positive business driving digital transformation at many of the world’s leading organizations‚” said Thomas M. Siebel‚ CEO‚ C3.ai. “We are expanding service and distribution capacity globally to accelerate adoption of the C3 Platform in new industries. C3.ai is well positioned to establish a global leadership position in the software market for AI and IoT applications‚ which is estimated to exceed $250 billion by 2025.”
C3.ai has continued to broaden its customer base since opening its platform and applications in 2016 to enterprise IT teams and solution providers across industry sectors. Partnerships with the leading cloud providers‚ AWS and Microsoft Azure‚ have established a business ecosystem that is substantially growing the size of C3.ai’s addressable market. With customers and partners‚ C3.ai is making major investments in training teams of data scientists and application developers worldwide to be experts in developing on the C3 Platform.
In fiscal year 2018‚ C3.ai introduced transformative AI applications that demonstrate tremendous social and economic benefit‚ such as chronic disease prediction in healthcare‚ anti-money laundering in financial services‚ predictive maintenance in aerospace‚ dynamic inventory optimization in discrete manufacturing‚ and yield optimization in process manufacturing. Additionally‚ C3.ai furthered its investments in deep learning support as part of its continued investment in AI capabilities.
Key achievements in fiscal year 2018 include major customer wins‚ partnerships‚ and expanded business operations:
- C3.ai added important customers across strategic industry sectors tackling large‚ complex problems that have never been solved before. Examples include:
- Aerospace and Defense: predictive maintenance and aircraft availability‚ most notably with the U.S. Air Force.
- Financial Services: anti-money laundering‚ intra-day liquidity management‚ and AI-based CRM for Fortune 500 multinational financial services company‚ and a GDPR service offering for Mastercard- and IBM-backed Trūata to support compliance with privacy and data protection requirements while enabling advanced data analytics.
- Discrete Manufacturing: inventory optimization‚ supply chain on-time/in-full adherence‚ and yield optimization – for 3M Supply Chain (NYSE:MMM) and other Fortune 500 manufacturers.
- Healthcare: predictive adverse drug reaction analysis and customer onboarding with 3M Health Information Services (HIS).
- Oil and Gas: AI-based predictive maintenance for unconventional and deep-water assets‚ for some of the largest organizations in the world.
- Energy: transmission and grid optimization‚ building energy management‚ consumption optimization‚ and end-to-end digitalization with Con Edison‚ Duke Energy‚ and the New York Power Authority (NYPA).
- Digital Enterprise Platform: unified enterprise analytics and machine learning capabilities at Fortune 500 manufacturers‚ oil and gas companies‚ renewable energy suppliers‚ utilities‚ and others.
- Established a strategic partnership with Microsoft Azure‚ a preferred cloud provider for the C3 Platform‚ with significant investments in joint solution development and go-to-market activities.
- Expanded strategic partnership with Amazon Web Services‚ including large-scale deployments on AWS GovCloud and for Fortune 500 organizations in manufacturing‚ utilities‚ and mining.
- Established a new regional headquarters in Sydney‚ Australia to address growing demand in the Asia Pacific (APAC) region – and at flagship customer Origin Energy (ASX: ORG).
- Achieved the Amazon Web Services (AWS) Machine Learning Competency‚ making C3.ai the first AWS Partner Network (APN) Partner to achieve AWS Competencies in three areas foundational to digital transformation: Machine Learning‚ Big Data‚ and the Internet of Things (IoT).
- Awarded “Top 20” status on the Forbes 2017 Global Cloud 100 list of the top 100 private cloud companies in the world‚ and named the highest ranked newcomer among the “hottest companies in cloud computing” for business performance and market leadership.
- Sustained favorable Glassdoor rankings with a 99% CEO approval rating and a near-perfect 4.9 (out of 5.0) company rating.
- Raised $100 million in a new round of financing led by existing investors‚ as well as new investors such as The Rise Fund‚ validating C3.ai’s leadership‚ strategy‚ and impact.
“Our additional investment in C3.ai reflects our ongoing confidence in the company’s unmatched capabilities‚ best-in-class management team‚ and significant growth potential. C3.ai is transforming industries‚ creating competitive advantages for its customers‚ and generating significant‚ measurable social impact in important areas such as healthcare and energy‚” said Nehal Raj‚ Partner and head of technology investing at TPG.