October 13, 2023
Chemicals and materials AI & Smart Data Management Pioneer Achieves Exceptional 140% Sequential Quarter Growth
BERKELEY, Calif. – Citrine Informatics, a market-leader in the AI and intelligent data management sector for materials and chemicals development, proudly announces its latest success: a record-breaking quarter for ACV (Annual Contract Value) bookings. The company experienced a remarkable 140% sequential quarter growth, attributing this stellar achievement to enduring contracts and swift market expansion with new customers.
Record growth to fuel innovation
The third quarter witnessed Citrine not only setting but smashing its own ACV booking records, surpassing its exceptional Q1 2023 performance and growing 140% sequentially. The surging numbers can be attributed to an increasing clientele opting for extensive annual or multi-year enterprise-scale commitments. This trend underscores the faith industry leaders are placing in the transformative business outcomes that the Citrine AI platform promises and the increasing demand for innovative AI and data management solutions.
Scott Carlyle, the Chief Commercial Officer at Citrine Informatics, said, “This growth reflects not just our achievements but the confidence that our customers place in us. Industry leaders are increasingly recognizing that investing in our generative AI platform yields a tangible, long-lasting competitive edge. The outcomes our customers are deriving from the Citrine Platform are faster time-to-market and cutting-edge innovations to sustainable products and optimized costs. We’re witnessing a paradigm shift. Customers aren’t merely dipping their toes with pilot projects but are diving head-first, embracing enterprise-level engagements to seize the full strategic advantage AI offers.”
Scott further added “Citrine’s sustained growth and market leadership, enabled by the trust of our customers, allows us to continue to fuel innovation and develop products that further our commitment to our customers to help them develop better products, faster.”
About Citrine Informatics
Citrine Informatics is an enterprise SaaS platform company that leverages artificial intelligence and materials science to enable customers to improve product development and optimization. The Citrine Platform provides a unified data infrastructure for materials and chemical data — allowing product developers to easily access, share, and analyze data. Citrine’s AI has improved business outcomes across a range of industries including specialty chemicals, coatings, batteries, and CPG. Citrine’s mission is to accelerate the development and deployment of better, more sustainable materials.