SymphonyAI has seen remarkable growth and profitability in 2023, driven by its AI SaaS solutions in the retail and consumer packaged goods (CPG) industries. The company, known for its predictive and generative enterprise AI applications, reported an increase of more than 30% in its annual recurring revenue (ARR) in the retail FMCG vertical.
This significant growth was fueled by the acquisition of major new retail and FMCG customers, including well-known 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 highlighted by deepening multi-year relationships with industry leaders Metro Digital GmbH, Rimi Baltic, Intermarché and REMA 1000. SymphonyAI’s innovative AI-based products and advanced AI models in retail and FMCG have played a central role in achieving this growth.
SymphonyAI’s notable offerings in 2023 include the CINDE Gen AI platform, providing customer-centric, supply chain and shelf insights; the co-pilot SymphonyAI Category Manager, using generative AI for high-impact decision-making; and a co-pilot Demand Planner powered by Demand Forecast AI for the supply chain. The company also introduced advanced Store and Shelf Intelligence solutions tailored to retailers and FMCG, as well as revolutionary Assortment and Space GenAI products, optimizing assortment and improving space management.
Manish Choudhary, President of SymphonyAI Retail CPG, expressed his pride in the team’s achievements in 2023, highlighting the extraordinary growth and global expansion. SymphonyAI now serves hundreds of major global retailers and FMCGs, counting 20 of the world’s top 30 retailers among its customers. Choudhary highlighted the company’s leadership in the industry and its innovative approach that redefines the possibilities of AI for retail, from assortment optimization to advanced demand forecasting.
In the words of Manish Choudhary, President of SymphonyAI Retail CPG, “2023 marked a year of extraordinary growth and global expansion for our team. We now proudly serve hundreds of major global retailers and consumer goods and have introduced cutting-edge predictive and generative AI co-pilots. Our innovative approach has attracted 20 of the world’s top 30 retailers as clients, demonstrating our leadership in the sector. Choudhary highlighted SymphonyAI’s role at the forefront of the retail revolution with customer, store and shelf-centric solutions that “have redefined what is possible in retail AI.” .
Sanjay Dhawan, CEO of SymphonyAI, said the retail CPG team’s success in 2023 has played a crucial role in SymphonyAI’s overall momentum. He said: “Our powerful AI solutions today serve 13 of the world’s 15 largest retailers…” Dhawan plans further expansion in 2024, both by acquiring new customers and deepening relationships with existing customers , pledging to “…invest aggressively in cutting-edge predictive and generative AI to expand our markets in retail, financial services, manufacturing, IT systems management and business and media.
Since its founding in 2017, SymphonyAI has rapidly grown to over 3,000 talented professionals. As a SAIGroup company, backed by a substantial $1 billion commitment, the company is well positioned to realize its vision: to become the leading enterprise AI SaaS company for digital transformation in critical growth sectors such as such as retail, consumer packaged goods, finance, manufacturing. , media and IT/business service management.
