Sinequa Announces Strong Momentum and Fiscal Year 2020 Results Amid COVID-19 Pandemic
New York, USA – February 15 2021 – Sinequa, a leader in Enterprise Search, today announced that the company achieved strong performance for the fiscal year 2020 ending on December 31, 2020, increasing its total customer billings by 30 percent compared to the fiscal year 2019.
“Like most businesses, Sinequa experienced a deceleration of customer projects throughout the first half of 2020 as the magnitude of the pandemic took the world by surprise. However, Sinequa had an incredibly successful second half of the year thanks to the rapid uptake of remote working and the increased demand for an efficient Digital Workplace. I am proud of the team’s ability to navigate the economic storm whilst working so confidently with our customers and partners. Their hard work has put us in a very strong position, laying the foundations yet again for sustainable growth in 2021,” said Fabrice de Salaberry, COO of Sinequa
2020 Achievement Highlights
During the last fiscal year, Sinequa achieved several significant milestones:
Corporate Growth and Momentum
- Leveraging a portion of 23 million dollars of Series B funding, Sinequa continued hiring top talent in R&D, Sales, Marketing, G&A despite the pandemic.
- Amid the pandemic, Sinequa created a scientific research repository and portal called COVID-19 Intelligent Insight to help in the fight against COVID-19. The free and open portal, built on Sinequa’s intelligent technology and expertise, helped thousands of scientists and physicians rapidly sift through and analyze the numerous and rapidly evolving research papers on COVID-19.
- Sinequa hosted two virtual user community events featuring presentations from prestigious enterprise customers such as Alstom, EDF, Pfizer, CSL Behring, Northrop Grumman and Societe Generale gathering 1000+ attendees from around the globe.
- After last year’s rollout of Sinequa University, more than 700 participants have attended courses virtually, with hundreds of modules available covering all aspects of the platform. We also launched Sinequa Overflow to bring our technical community together.
Major new customer partnerships & significant subscription renewals
- Signed new logos in key industry verticals across the globe. Among the significant new customer deals, GSK, a global pharmaceutical and consumer health products company selected Sinequa to implement a modern Search platform to power multiple, disparate use cases across all global business units. Électricité de France (EDF), an electric utility company and the 2nd largest power company in the world signed with Sinequa to power its digital workplace. Ciena Corporation, an American telecommunications networking equipment and software services supplier based in Hanover, Maryland chose Sinequa’s Intelligent Search Platform to provide insights to people across their Digital Workplace.
- Expanded footprint within many existing customers indexing 100’s of millions of additional content from a wide range of data sources like Alstom, BMS, Capgemini, Crédit Agricole, European Union, Framatome, IRSN and Ministère des Armées.
- Recorded high customer satisfaction with a 95% customer retention in 2020.
Product Innovation, Expanded Partner Ecosystem
- In order to enable customers further and foster a worldwide community of developers, Sinequa has made key components of its intelligence search platform available as open source. This means non-Sinequa developers may fully modify the source code and adapt it to their specific needs. This model makes Sinequa’s technology more transparent, accessible and attractive to IT leaders to continually evolve with the ever-changing needs of large firms” or “reaps ongoing benefits from an initial investment. By sourcing contributions (new ideas, bug fixes, etc.) from a whole community instead of a small core team, the technology will grow more robust and innovative at the same time.
- Sinequa improved the flexibility of the user interface and enabled greater efficiency and personalization with updates to its UI framework. This open-source framework now includes four ready-to-use interfaces that are easily adapted to specific requirements.
- Applying machine learning and specifically deep learning to enhance the platform’s capabilities continues to be a focus. This year brought several deep learning capabilities to the platform, including content classification and enrichment and dynamic improvement of relevancy over time. Successfully packaging AI into a product requires strong foundations, and in 2020 Sinequa laid the groundwork that is expected to bring several exciting enhancements driven by deep learning in 2021.
- Sinequa expanded its natural language processing (NLP) capabilities with additional support for named entity recognition, now recognizing 20 standard entity types. The new release also recognizes PII, which enables instant identification of 24 categories of PII, enabling organizations to comply with privacy-protection legislation like GDPR more effectively.
- Broader Connectivity to On-Premise Enterprise Applications and Cloud Environments.
- Sinequa is now available on AWS Marketplace. Amazon Web Services (AWS) customers can purchase and deploy Sinequa’s Intelligent Search platform to find, discover, and extract relevant information across all of their enterprise content and data stores directly from AWS Marketplace.
- Expanded partner ecosystem: 2020 saw an increase in the demand for additional project delivery & consulting capacity which drove the need to increase the number of Sinequa partners by 25% globally. Sinequa revamped its training and certification offerings adding 8 new learning & certifications paths.
Analyst Research and Awards recognition
- Sinequa was featured in an IDC Technology Spotlight: Digital Transformation of Manufacturing Through Intelligent Search. The report highlights the importance of how intelligent search — the combination of artificial intelligence, machine learning, big data analytics, and enterprise search — can optimize a manufacturer’s Industry 4.0 strategy.
- Sinequa released a 451 Research Pathfinder Report about Information-Driven Compliance and Insight providing decision-makers key takeaways related to the issues surrounding data privacy, compliance, and risk and explores the value of adopting an intelligent-search platform.
- A report “Building a Business Case for Enterprise Search – the Role of the CIO” from Martin White, Intranet Focus Ltd was published to provide the core characteristics of enterprise search applications and the way in which a business case can be made.
- Sinequa received recognition for its Insight Platform in KMWorld’s 2020 Trend-Setting Product Award and was ranked in the KMWorld AI 50: The Companies Empowering Intelligent Knowledge Management.
- Sinequa was named SIIA Business Technology Product CODiE Award Finalist for Best Content Search & Discovery Solution.
Sinequa serves both large and complex organizations with the most complete enterprise search, ever. Customers employ our intelligent search platform to connect all content (both text and data), derive meaning, learn from user interactions, and present information in context. This solves content chaos and informs employees through a single, secure interface. They get the knowledge, expertise, and insights needed to make informed decisions and do more, faster. These organizations accelerate innovation, reduce rework, foster collaboration, ensure compliance, and increase productivity. Become Information-Driven™ with Sinequa.