Citrine Informatics Sets New ARR and Customer Acquisition Records in Q2 2022
REDWOOD CITY, Calif.–(BUSINESS WIRE)–Citrine Informatics, the leading AI and smart data management software platform for materials and chemicals, announced a record quarter for ARR & new logos and a new Japan distribution agreement with SCSK.
Record Quarter for New Logos
Citrine continued to acquire new customers at a record pace, achieving its best quarter for new logos in Q2 2022. This success occurred across a range of customer sizes and application areas; in Q2, Citrine announced deals with LyondellBasell, a global leader in the chemicals industry, and Ubiquitous Energy, a venture-backed world leader in transparent solar products.
“We’re at a tipping point in the industry, where our customers are achieving tremendous results with data-driven product development and the Citrine Platform, and others in the market are taking note,” said Greg Mulholland, Citrine Informatics CEO. “We expect to continue our momentum across market verticals and company sizes through the rest of the year.”
Strong Revenue Growth Bolstered by Multi-year Deals
In Q2, Citrine approached 2.5X year-over-year ARR growth as Citrine’s customers continue their commitment to multi-year partnerships. Q2 marked the 4th out of the last 5 quarters where the company signed multi-year contracts with at least one global market leader.
“When customers complete initial projects with Citrine, they’re seeing undeniable benefits and ROI compared to traditional approaches to product development,” said Mike Smocer, Citrine Informatics VP of Global Sales & Marketing. “While Citrine offers a flexible adoption model, customers frequently choose to engage in multi-year partnerships that help accelerate adoption throughout their organization.”
Japan Distribution Agreement with SCSK
Citrine announced a distribution partnership with SCSK Corporation to distribute Citrine Platform in Japan to materials, chemicals, and manufacturing companies. The Citrine Platform is available to customers in Japan through SCSK starting on July 8, 2022. SCSK will be leading a series of webinars starting in July. More information about the SCSK and Citrine Informatics partnership and upcoming webinars can be found at https://www.scsk.jp/product/common/citrine/.
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, Panasonic, Michelin, LANXESS, and some of the biggest and most respected names in the materials and chemicals industry in Asia, North America, and Europe. For more information visit our website at https://citrine.io.
Contacts
Media Contact
Josh Tappan, Director of Marketing
jtappan@citrine.io