Trending...
- Google AI Quietly Corrects the Record on Republic of Aquitaine's Legal Sovereignty - 134
- Hamvay-Lang and Lampone.hu Join Forces with AIMarketingugynokseg.hu to Elevate Hungarian Lifestyle Brands on the Global Stage - 107
- Governor Newsom slams Trump over bill that would cut millions in health coverage, food assistance for California - 101
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Citrine Informatics, the provider of the leading AI and smart data management software platform for materials and chemicals, announced a record year for sales growth in 2021 and a strong outlook for 2022.
Sales Growth
Citrine Informatics closed out its strongest year yet in company history, eclipsing FY2020 annual recurring revenue (ARR) in 2021 by 3.3X. Citrine's FY2021 TCV grew 8.3X over FY2020, bolstered by multiple multi-year agreements from some of the most advanced companies in the materials and chemicals industry.
"Our rapidly accelerating growth is driven by our customers' seeing concrete successes using the Citrine Platform and proves that data-driven product development is here to stay," said Greg Mulholland, Citrine's CEO. "Our customers' results are surpassing their ROI expectations, driving them to make deeper investments faster than expected. We are excited that not only are these companies seeing incredible financial returns, but also are using the Citrine Platform to create their greenest, most sustainable product portfolios in history."
More on The Californer
2022 Outlook
Building on momentum from 2021, Citrine is forecasting another record year for customer adoption and sales. "The value our customers are deriving from our platform is leading to accelerated adoption rates and continued investment in our Platform and our team. We expect to see 80% growth within our existing customer base alone in 2022, plus another record year for new customers as market readiness continues to mature," said Mike Smocer, Citrine's VP of Global Sales & Marketing.
Growing Demand Fueled by Citrine Platform November 2021 Release
To address increased demand, Citrine will launch monthly hands-on workshops for all prospective customers to gain knowledge and experience with Citrine's AI platform in the development and optimization of products, chemicals, and materials. "Our 2021 product release has motivated chemists, materials scientists, and product developers to get hands-on experience with AI and our Platform," said Greg Mulholland, Citrine's CEO. "These workshops will help show these brilliant scientists how AI can be a source of leverage for them and their organization in the creation of the next generation of green, performant materials and chemicals."
More on The Californer
About Citrine
Citrine Informatics is the award-winning materials informatics software platform for data-driven materials and chemicals development. It won the 2017 World Materials Forum Start-up Challenge, 2020-2021 Cleantech 100 honors, and was named to the 2020 CB Insights AI 100 list. 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 Panasonic, Michelin, LANXESS, and some of the biggest and most respected names in the materials, chemicals, and product manufacturing industries in Asia, North America, and Europe. For more information visit our website at https://citrine.io or contact us at +1 650-276-7318.
Contacts
Media Contact
Josh Tappan, Director of Marketing
jtappan@citrine.io
Sales Growth
Citrine Informatics closed out its strongest year yet in company history, eclipsing FY2020 annual recurring revenue (ARR) in 2021 by 3.3X. Citrine's FY2021 TCV grew 8.3X over FY2020, bolstered by multiple multi-year agreements from some of the most advanced companies in the materials and chemicals industry.
"Our rapidly accelerating growth is driven by our customers' seeing concrete successes using the Citrine Platform and proves that data-driven product development is here to stay," said Greg Mulholland, Citrine's CEO. "Our customers' results are surpassing their ROI expectations, driving them to make deeper investments faster than expected. We are excited that not only are these companies seeing incredible financial returns, but also are using the Citrine Platform to create their greenest, most sustainable product portfolios in history."
More on The Californer
- Orion Retreats: Pioneering the Future of Conscious Leadership and Luxury Wellness Tourism
- Cynthia Pinot Among Artists Selected for Renowned London Art Biennale 2025
- Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
- California: Governor Newsom statement on passage of Trump's "Big, Beautiful Betrayal"
- From Barrio to Transgender Pioneer: Chapter 12 of A Letter to Pawtone
2022 Outlook
Building on momentum from 2021, Citrine is forecasting another record year for customer adoption and sales. "The value our customers are deriving from our platform is leading to accelerated adoption rates and continued investment in our Platform and our team. We expect to see 80% growth within our existing customer base alone in 2022, plus another record year for new customers as market readiness continues to mature," said Mike Smocer, Citrine's VP of Global Sales & Marketing.
Growing Demand Fueled by Citrine Platform November 2021 Release
To address increased demand, Citrine will launch monthly hands-on workshops for all prospective customers to gain knowledge and experience with Citrine's AI platform in the development and optimization of products, chemicals, and materials. "Our 2021 product release has motivated chemists, materials scientists, and product developers to get hands-on experience with AI and our Platform," said Greg Mulholland, Citrine's CEO. "These workshops will help show these brilliant scientists how AI can be a source of leverage for them and their organization in the creation of the next generation of green, performant materials and chemicals."
More on The Californer
- MERCURY INSURANCE NAMED ONE OF AMERICA'S GREATEST WORKPLACES FOR PARENTS & FAMILIES AND FINANCIAL SERVICES BY NEWSWEEK
- Ahead of Holiday weekend, Californians see lowest July prices at the pump in 3 years
- $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST
- West Dentistry Welcomes New Oral Surgeon to Enhance Patient Care
- The AML Shop Launches New Financial Investigations Unit, Appoints Director to Lead the Initiative
About Citrine
Citrine Informatics is the award-winning materials informatics software platform for data-driven materials and chemicals development. It won the 2017 World Materials Forum Start-up Challenge, 2020-2021 Cleantech 100 honors, and was named to the 2020 CB Insights AI 100 list. 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 Panasonic, Michelin, LANXESS, and some of the biggest and most respected names in the materials, chemicals, and product manufacturing industries in Asia, North America, and Europe. For more information visit our website at https://citrine.io or contact us at +1 650-276-7318.
Contacts
Media Contact
Josh Tappan, Director of Marketing
jtappan@citrine.io
Filed Under: Business
0 Comments
Latest on The Californer
- Governor Newsom marks historic expansion of California's Film and Television Tax Credit Program, announces 16 new projects to film in the Golden State
- Talar Guedikian Named Winner of 2025 AAJ Paralegal of the Year Award, Sponsored by Advocate Capital
- Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
- California: Did gas prices go up by 65 cents at the pump? No.
- Snell & Wilmer Welcomes Associate Victoria Cendejas to the Orange County Office
- Crime in California drops again — state records second-lowest homicide rate since 1966
- FireAid Donates $75,000 To California Strong To Distribute To Palisades and Eaton Fire Victims
- Celebrate Safely: 4th of July BBQ & Celebration Essentials from Mercury Insurance
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
- Hint® Celebrates 20 Years with Cash Sweepstakes and Rooftop Movie Nights Nationwide
- Get Your Cowboy Boots On! Causeway Country BBQ Music Festival Kicks Off September 12–14 in Ft. Pierce
- Retired Hobbyist Launches Bold Weekly Album Project Using AI Songwriting Tools
- DimHum Launches Revolutionary CrowdShipping Service
- Eolian Signs New Information Exchange Agreement with the U.S. Department of Defense for Technology Innovation
- Infinite Health Introduces Cutting-Edge Regenerative Medicine for Wound Care with Trip Goolsby, MD
- Riser Music's LYKN Adds India, Mexico & U.s. Dates To "unleashed" World Tour
- Auraya Launches EVA Forensics on NICE CXexchange