REDWOOD CITY, Calif.–(BUSINESS WIRE)–Citrine Informatics, the leading AI and smart data management software platform for materials and chemicals development, announced a record quarter for ACV bookings and a new annual record for TCV, as well as several invited talks at global materials innovation and sustainability conferences in Q3 2022.
Record Quarter for ACV Bookings
In Q3, Citrine set a quarterly record for ACV bookings, exceeding its previous best quarter of Q42021. In addition, the company exceeded its previous annual TCV bookings record from 2021 through 3 quarters of 2022. The revenue achievements were underpinned by multiple multi-year deals in the chemicals, formulations, and discrete product manufacturing industries, now marking 5 of the last 6 quarters where the company secured multi-year contracts with global leaders. Among these deals, the company announced a multi-year partnership with Eastman to accelerate product development, support sustainability goals, and develop innovative solutions for customer and market needs.
“Citrine’s customers are the most agile materials, chemicals, and manufacturing companies in the world. Our software enables our customers to adapt to supply chain challenges, aggressive sustainability goals, increased regulatory pressures, and changing customer demands,” said Citrine Informatics CEO Greg Mulholland. “Despite global macroeconomic headwinds, we continue to see strong revenue growth from both new and existing customers due to our platform’s ability to help them adapt to a changing global environment and bring sustainable, performant products to market.”
Talks at Global Materials and Innovation Conferences
Citrine employees were invited to speak at several global conferences focused on materials innovation, AI, and sustainability in Q3. Will Erwin, data scientist at Citrine Informatics, spoke at Coatings Trends and Technologies in Chicago, Illinois on “AI-driven Formulation Strategies.” Anirudh Kashyap, Senior Data Solutions Engineering Manager, delivered a talk at Shell’s Digital Material Design for Sustainability and Circularity Conference in Bangalore, India on “Deploying AI at Scale for Materials and Chemicals Product Development.” Greg Mulholland, CEO, was invited to speak at the Science History Institute Innovation Day on “Artificial Intelligence for Materials Discovery.”
“We were founded on the belief that AI can play a big role in ushering in a sustainable, productive future for both industry and humanity. I’m proud of the whole team for playing an active role in communicating this vision to the world,” said Greg Mulholland. “We increasingly see that leaders across the globe from industry, government, and academia are not only taking notice, but taking action.”
About Citrine informatics
Citrine Informatics is the award-winning materials informatics platform for data-driven materials and chemicals development. It won the 2017 World Materials Forum Start-up Challenge, the 2018 AI Breakthrough award as the “Best AI-based Solution for Manufacturing,” and 2020-2021 Cleantech 100 honors. The Citrine Platform combines smart materials data infrastructure and AI, which accelerates development of cutting-edge materials, facilitates product portfolio optimization, and codifies research IP, enabling its reuse and preventing its loss. Citrine’s customers include LyondellBasell, Eastman, Ubiquitous Energy, LANXESS, and some of the biggest and most respected names in the materials and chemicals industry in Asia, North America, and Europe.
Josh Tappan, Director of Marketing