AI Innovations Drive SymphonyAI’s 30% ARR Growth in Retail CPG
SymphonyAI witnessed remarkable growth and profitability in 2023, driven by it’s AI SaaS solutions in the retail and Consumer Packaged Goods (CPG) sectors. The company, known for its predictive and generative enterprise AI applications, reported a surge of over 30% in Annual Recurring Revenue (ARR) within the retail CPG vertical.
This significant growth was fueled by winning new major retail and CPG customers, including household names such as Marks and Spencer, Save Mart, Coca-Cola Europacific Partners, Calsun, Save-A-Lot, Southern Co-op, and Scotmid.
The company’s success is also underscored by the deepening of multi-year relationships with industry leaders Metro Digital GmbH, Rimi Baltic, Intermarché, and REMA 1000. SymphonyAI’s innovative AI-driven products and advanced AI models in retail and CPG played a pivotal role in achieving this growth.
SymphonyAI’s notable offerings in 2023 include the CINDE Gen AI platform, providing customer-centric, supply chain-centric, and shelf-centric insights; the SymphonyAI Category Manager Copilot, utilizing generative AI for high-impact decision-making; and a Demand Planner copilot featuring Demand Forecast AI for the supply chain. The company also introduced advanced Store and Shelf Intelligence solutions tailored for retailers and CPG, along with revolutionary Assortment and Space GenAI products, optimizing assortment and enhancing space management.
Manish Choudhary, President of SymphonyAI Retail CPG, expressed pride in the team’s achievements in 2023, emphasizing the extraordinary growth and global expansion. SymphonyAI now serves hundreds of leading global retailers and CPGs, boasting 20 of the top 30 global retailers as clients. Choudhary highlighted the company’s leadership in the industry and its innovative approach that redefines possibilities in retail AI, from assortment optimization to advanced demand forecasting.
In the words of SymphonyAI Retail CPG President Manish Choudhary, “2023 marked a year of extraordinary growth and global expansion for our team. We’re now proudly serving hundreds of the leading global retailers and CPGs and have introduced cutting-edge predictive and generative AI copilots. Our innovative approach has attracted 20 of the top global 30 retailers as clients, a testament to our leadership in the industry.” Choudhary emphasized SymphonyAI’s role at the forefront of revolutionizing retail with customer-centric, store-centric, and shelf-centric solutions that “redefined what’s possible in retail AI”.
Sanjay Dhawan, CEO of SymphonyAI commented that that the success of the retail CPG team in 2023 played a crucial role in the overall momentum of SymphonyAI. He stated “ Our powerful AI solutions today serve 13 of the top 15 retailers globally…” Dhawan anticipates further expansion in 2024, both in acquiring new customers and deepening relationships with existing ones, committing to “ … aggressively invest in leading predictive and generative AI to expand our markets in retail, financial services, industrial, enterprise IT systems management and media.”
Since its founding in 2017, SymphonyAI has rapidly grown to include over 3,000 talented professionals. As a SAIGroup company, backed by a substantial $1 billion commitment, the company is well positioned to execute on it’s vision is to be the leading enterprise AI SaaS company for digital transformation in critical growth verticals such as retail, consumer packaged goods, finance, manufacturing, media, and IT/enterprise service management.
