DALLAS--(BUSINESS WIRE)--o9 Solutions, a leading enterprise AI software platform provider for transforming planning and decision-making for global enterprises, today announced that its existing investors, led by General Atlantic’s BeyondNetZero, the inaugural companion fund for the growth equity firm’s climate investing efforts, have invested an additional $116 million in the Company. Existing investors KKR and Generation Investment Management also participated in the round. The investment values o9 at $3.7 billion, up from $2.7 billion since the Company’s last investment round in January 2022.
The investment follows a period of continued outperformance by o9, including 55% year-over-year growth in Annual Recurring Revenue (ARR) as of Q2’23. The Company also reported 67% year-over-year ARR growth as of Q1’23 and 65% growth in 2022.
In conjunction with the transaction, o9 also announced that General Atlantic Operating Partner and tenured business executive Gary Reiner has joined the Company’s Board of Directors, bringing deep expertise at the intersection of technology, strategy and operations. Mr. Reiner joined General Atlantic in 2010 and provides strategic support and counsel to the firm’s technology investment teams and portfolio companies. Prior to joining General Atlantic, Mr. Reiner served as Senior Vice President and Chief Information Officer at General Electric for nearly 20 years. Prior to that, he was a Partner with The Boston Consulting Group. Mr. Reiner also serves on the boards of several public companies, including Hewlett-Packard Enterprise and Citigroup.
“We continue to be thrilled with o9’s terrific customer value proposition, offering truly material and measurable outcomes relative to traditional planning software vendors and thereby providing strong blue chip client satisfaction,” said Gary Reiner, Operating Partner at General Atlantic. “Since we first partnered with o9 in early 2022, the Company has helped deliver significant revenue growth, working capital improvements and expense reductions for many large global enterprises. Our deepened support of o9 reflects the enthusiasm we have for the business and its seasoned management team, particularly as their innovative model supports the transition to more sustainable supply chains across the enterprise. We look forward to our continued partnership.”
“The investment by our existing investors at a premium to our last funding round and against a backdrop of an overall pullback in market valuations is continued validation of our performance and execution against our long-term strategy,” said Chakri Gottemukkala, Co-Founder and CEO, o9 Solutions. “We will continue our strategy of client satisfaction and innovation as a driver of efficient growth across industry verticals and markets.”
To learn more, visit www.o9solutions.com.
About o9 Solutions, Inc.
o9 Solutions is a leading AI-powered platform for integrated business planning and decision-making for the enterprise. Whether it is driving demand, aligning demand and supply, or optimizing commercial initiatives, any planning process can be made faster and smarter with o9’s AI-powered digital solutions. o9 brings together technology innovations—such as graph-based enterprise modeling, big data analytics, advanced algorithms for scenario planning, collaborative portals, easy-to-use interfaces and cloud-based delivery—into one platform. For more information, please visit www.o9solutions.com.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $77 billion in assets under management inclusive of all products as of June 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.
