o9 Solutions secures a $295 million investment to continue to ease supply chain woes
o9 Solutions, a leading enterprise AI software platform provider, announced that it has received equity investments totaling $295 million, helping the company to build on its momentum and accelerate growth for its AI-powered Integrated Business Planning platform “Digital Brain.”
It will also help o9 drive continued innovation in R&D, industry knowledge models, and partner ecosystem development to assist companies implement o9’s platform faster and realize greater value.
The investment was made by General Atlantic, including BeyondNetZero, its climate investing venture, Generation Investment Management, a pure-play sustainability investment manager, and existing investor KKR.
“We have an unprecedented opportunity in front of us,” said Chakri Gottemukkala, co-founder and CEO of o9. “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. And we believe that o9 is poised perfectly to help companies deal with these mega trends with a differentiated, proven platform.”
General Atlantic, its BeyondNetZero venture and Generation Investment Management join KKR as investors in o9, valuing the company at $2.7 billion.
This marks an increase from the $1 billion valuation in April 2020 at the time of the company’s first-ever external investment led by KKR, which is also participating in this funding round. 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.
“We believe that o9 is uniquely positioned at the intersection of technology, supply chain, and sustainability,” said Tanzeen Syed, managing director, General Atlantic. “The business fits squarely within our theses at General Atlantic and BeyondNetZero to support companies that are leveraging innovation to tackle some of the most pressing issues in the world. o9 helps large organizations transform their costly, complex and resource-intensive supply chains into profitable and environmentally sound models—playing a critical role in enabling them to work toward net zero targets.”
For more information about this news, visit www.o9solutions.com.