Attivio Achieves Record 60% Revenue Growth in 2018 for AI-Powered Answers and Insights

NEWTON, Mass., April 9, 2019 /PRNewswire/ -- Attivio, the leading provider of AI-powered answers and insights today announced record growth for the fiscal year ending on January 31, 2019. The company achieved 60% revenue growth year-over-year, increased new client acquisition by 200%, launched Elevate for ServiceNow®, and made AI and machine learning more capable and, at the same time, more accessible and explainable for business users. 

"2018 was a tremendous year at Attivio. We have continued to invest in making our AI-powered answers and insights solutions more powerful and business-user friendly, enabling us to address the increasing demand for solutions that improve employee and customer experiences without IT overhead," said Stephen Baker, CEO, Attivio. "What's really exciting is that we're carrying this momentum into 2019. We've already closed new deals in customer support and employee experience, and have a strong product roadmap that will lead to an even higher growth rate."

Among the many highlights of 2018, Attivio solidified its place as the leader in AI-powered answers and insights through:

• A 60% year-over-year increase in product revenue, driven by:
• 400% year-over-year growth in the adoption of Attivio Managed Services
• 200% year-over-year increase in new client acquisition:
• Continued domination of the Financial Services and High-Tech sectors, adding companies like Discover, ABSA, Avaya, and NetApp to the client roster for mission-critical use cases like Risk Avoidance and Customer Support & Satisfaction
• Breakout performance in new verticals due to the extreme demand for customer and employee support solutions, including Insurance (adding NYLife, MetLife, and Nationwide) and the company's first significant win in the federal sector with The Federal Aviation Administration (FAA)
• Continued customer growth and expansion, reinforcing the strategic importance of Attivio's solutions in the Fortune 1000/Global 2000
• For example, the company secured a significant contract with Bank of America to underpin its AI-powered Answers and Insights Center of Excellence, which drives all of the company's strategic search initiatives.
• Breakthrough advancements in AI-powered answers and insights
• Certified and delivered Elevate for ServiceNow®, which increases call deflection and decreases mean-time-to-resolution (MTTR) using machine learning and natural language understanding embedded into key ServiceNow workflows for employee experience and customer service.
• Transformed the way business users apply, tune, and understand critical AI capabilities to find answers and receive insights, making AI more pragmatic and explainable and eliminating the need for IT intervention, including: 
• Conversational AI advancements that make chatbots smarter, more agile, and more adaptable, by unifying disparate data sources and leveraging NLP to search and retrieve the most relevant answer.
• Operational Machine Learning that automatically improves the search experience without manual tuning and exposes relevancy models to admin users, making it completely explainable and intuitive for business and IT users alike.
• Natural Language Understanding advancements, that allow users to ask natural language questions (e.g., "How do I…?"), understand the intent, and dynamically extract the precise answer from the corpus of structured, semi-structured, and unstructured data.
• Delivered additional Smart Connectors, which are differentiated in the market due to their approach to security, scalability, and resiliency. The company's total Smart Connector offering exceeds 200 to date and are all built natively into Attivio's self-service administration experience.
• Significantly expanded advanced language support and incorporated it into core pricing. The addressable languages total 68 to date, and include identification, tokenization, lemmatization, stemming, entity extraction, sentiment analysis, and semantic similarity.
• Completely revolutionized how – and how quickly – search interfaces are created by introducing SUIT, an open-source UI development framework that has been adopted by the majority of new customers.
• Significantly shortened and streamlined client go-live to mere weeks through Managed Services advancements that seamlessly support hybrid models and multi-region requirements without sacrificing key enterprise requirements such as security and scale.
• Strong performance and collaboration with OEM and delivery partners
• Launched a deep integration with PerkinElmer's Informatics products to accelerate life sciences R&D, including powering a visually-based chemical structure search
• Delivered strategic projects with ecosystem partners, including Accenture, MC+A, and TCS, focusing on Digital Transformation and Customer Support
• Continued recognition by the market for innovation and culture
• Elevate recognized in the Sales and Customer Service category in the Stevie Awards
• Forbes' Best Big Data Companies and CEOs to Work For
• Built In Boston 100 Best Places to Work in Boston List (Overall) and the Best Small Places to Work in Boston

About Attivio
The choice of mid-and large-sized organizations for over a decade, Attivio delivers AI-powered answers and insights that enable companies to answer the most complex questions asked by their employees, customers, and support teams. Using AI technologies like Machine Learning, Natural Language Processing, and Text Analytics, Attivio helps companies increase call deflection, improve self-service success, and decrease mean time to resolution. To learn more about Attivio, visit www.attivio.com.

SOURCE Attivio

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