Company poised to capitalize on rising market demand for laptop vision-driven know-how options
SANTA MONICA, Calif.–(BUSINESS WIRE)–December 21, 2017–
GumGum, a synthetic intelligence firm with deep experience in laptop imaginative and prescient, will finish the 12 months with document revenues, surpassing $100 million, representing 53% 12 months over 12 months development and a 99.4% CAGR for six consecutive years. International growth to Europe, Australia, Japan and LATAM helped drive greater than 400% income development in worldwide income.
GumGum leverages proprietary know-how to investigate visible content material to assist corporations perceive, goal and measure, throughout visually-heavy mediums comparable to social media, writer websites, and tv.
With practically 10 years of expertise, GumGum is extremely nicely positioned to assist perceive a world producing extra visible content material than ever earlier than. LDV Capital forecasts 44.4 billion embedded cameras on the planet by 2022 (3x what we’ve got at present), making a crucial want to know and make sense of the trillions of photos and movies anticipated to be produced each day. Computer imaginative and prescient is quick rising as a solution to this downside throughout a spread of industries.
“Our mission, because the firm’s inception, has been to unlock the worth of visible content material. Computer imaginative and prescient, a cornerstone of AI, will likely be one of the crucial highly effective applied sciences the world has ever seen and we’re investing closely in analysis, improvement and the continued software of this functionality,” stated Ophir Tanz, CEO and founding father of GumGum.
GumGum is anticipated to develop income from $72M to just about $110M in 2017 – a 53% development. Programmatic promoting was a heavy income driver as was development in cell, improve in direct model and company spend, and growth into sports activities sponsorships.
Additional highlights embrace:
- Doubled income in 2 years
- CAGR during the last 6 years of 99.4%
- 105% income development in programmatic
- Onboarded greater than 50 new sports activities groups
- Over 400% income development in worldwide income pushed by robust success within the UK, Australia and Japanese markets
- 7 patents pending; analyzing greater than 500 million new photos per day
- 16 workplaces throughout 4 continents
- 240 workers worldwide, a 25% improve from 2016, and an worker retention price of 91%.
“GumGum Sports is an ideal instance of entering into new markets. We constructed proprietary know-how able to offering the one really complete sponsorship measurement resolution throughout TV, streaming and social media. Leveraging laptop imaginative and prescient and our patent pending sports activities detection algorithms, we’re capable of seize and display dramatic uplift in beforehand unmeasured viewers attain and engagement on behalf of our companions,” stated Phil Schraeder, president and COO of GumGum.
Recent This fall awards embrace: Deloitte Technology Fast 500 award winner for 2017; CEO, Ophir Tanz nomination to Goldman Sachs 100 Most Intriguing Entrepreneurs; and President and COO, Phil Schraeder as CFO Awards Honoree by Los Angeles Business Journal in 2017.
GumGum is a synthetic intelligence firm with deep experience in laptop imaginative and prescient. Its mission is to unlock the worth of visible content material produced each day throughout various information units. Since 2008, the corporate has utilized its patented capabilities to serve quite a lot of industries from promoting to skilled sports activities, with extra to come back. For additional info please go to: https://www.gumgum.com/.
Radix Collective for GumGum
Nicole Jordan, 310-390-3017
This article sources info from VentureBeat