Company adds two veteran sales leaders to continue its growth trajectory
DALLAS, March 09, 2021 (GLOBE NEWSWIRE) -- Symphony RetailAI, a leading global provider of integrated AI-powered marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced significant SaaS revenue momentum in 2020 and that it is laying the groundwork for continued growth into 2021. Following considerable uplifts in both SaaS and perpetual license revenue from the prior year, Symphony RetailAI is focusing on acceleration of its go-to-market capabilities with the appointment of two new executive team members who will report into its newly named Chief Revenue Officer.
Company Revenue and EBITDA Point to Record Growth
Symphony RetailAI realized total revenue growth of 19% in Q4 2020 compared to Q4 2019. The company’s growth for 2020 yielded a SaaS revenue increase of 65% and perpetual license revenue growth of 76% when compared to 2019. Further, the company expanded transformation initiatives with existing and new industry leaders including Intermarché, Smart & Final, Dagrofa, Buy-Low, Rossman, Magnum Cash & Carry, Globus and SPAR Saudi Arabia, as well as CPG manufacturers like Mars, PepsiCo and ABInBev in 2020. Increases in license revenue rounded out a year of profitable growth for the company during a challenging year for many software vendors.
“Retailers and CPGs were faced with significant and never-before-seen challenges in 2020. COVID-19 exposed troubling gaps and major weaknesses in the retail supply chain,” said Chris Koziol, CEO, Symphony RetailAI. “As we look closer at these issues, it’s becoming very clear that the traditional technologies and processes held by the FMCG community are incapable of keeping up with today’s challenges. By turning to providers with proven AI-powered solutions, retailers empower themselves with advanced tools to respond to customer behavior shifts with greater speed and agility. We are honored so many retailers, wholesalers and manufacturers selected Symphony RetailAI as their strategic partner last year. We are more committed than ever to delivering on our customer promise: To be the easiest to do business with, delivering the best-quality software and customer service, and using breakthrough AI-powered solutions to deliver significant value in the first year.”
Two Retail Supply Chain Experts Named to the Leadership Team
To support Symphony RetailAI’s growing customer base, Bob Kyle has been named Senior Vice President of Sales, North America, and Ryan Chan has been named as Senior Vice President, Global Solutions & Value Consulting. Kyle and Chan both join Symphony RetailAI at an exciting time of investment, under the leadership of the company’s new Chief Revenue Officer, Dale Grant, who joined in November 2020.
Kyle most recently served as Vice President, North America Sales at Llamasoft (now part of Coupa Software), where he spent 11 years of his career. He brings with him extensive supply chain expertise, as well as a deep understanding of how solutions drive value for clients in the retail and grocery industry. Kyle will be responsible for developing long-term relationships with North American retailers for all of Symphony RetailAI’s software solutions, identifying new opportunities while increasing business within the existing customer base.
Similarly, Chan spent more than 11 years with Llamasoft, where he held the role of Vice President, Value Solutions Consulting. With his expertise in leading global solutions consulting organizations, Chan will support all sales efforts, leading Symphony RetailAI’s world-class team of consultants and championing the company’s value-based propositions for prospects and established customers.
“We are incredibly excited to welcome Bob and Ryan to the Symphony RetailAI family,” said Dale Grant, Chief Revenue Officer, Symphony RetailAI. “They are both exceptional leaders, and with their proven experience in the grocery and CPG sectors, we are confident they will have a meaningful impact on our continued growth and success in the market.”
Visit SymphonyRetailAI.com to learn more about how the company’s enterprise-wide AI platform is driving revenue and margin growth for today’s retailers and CPG manufacturers.
About Symphony RetailAI
Symphony RetailAI is a leading global provider of role-specific, AI-powered revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain. Our proven, industry-leading, AI-enabled software, coupled with the industry’s only conversational natural-language AI interface, CINDE, provides key users with proven prescriptive and preemptive recommendations that make it easy to identify end-to-end growth opportunities, activate plans and realize measurable profit and revenue growth. Our solutions are specific to key decision-maker roles focused on profitable growth across the retail value chain from source to consumer. With our strong global partner ecosystem, we serve more than 1,200 organizations worldwide – including 15 of the top 25 global grocery retailers, 25 of the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains – all through the Microsoft Azure Cloud. Symphony RetailAI is a SymphonyAI company. More at Symphony RetailAI.
About SymphonyAI
SymphonyAI is building the leading Enterprise AI company for the digital transformation of the business enterprise, across the most important and resilient growth verticals, including life sciences, healthcare, retail, consumer packaged goods, financial services, manufacturing and media. In each of these verticals SAI businesses have many of the leading enterprises as clients. SAI is backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist. Since its founding in 2017, SymphonyAI has grown rapidly to a combined revenue run rate of more than $300 million and over 2,200 talented leaders, data scientists, and other professionals. More at SymphonyAI.
Media Contact
Adrienne Newcomb
Ketner Group Communications (for Symphony RetailAI)
adrienne@ketnergroup.com