The new data provides the market with a much better look into how the unicorn AI company’s business has progressed during the COVID-19 era, and should help public investors price the company’s equity as it looks to float.
TechCrunch previously explored C3.ai’s performance through the its July 31 quarter. Today we received information about its subsequent fiscal period, the quarter ending October 31.
We noted during our initial dig into C3.ai’s numbers that while the AI startup has had strong historical revenue growth — from $ 92 million to $ 157 million in the fiscal years ending April 31, 2019 and 2020 — in more recent quarters, its pace of expansion has slowed.
This brings us to the October 31, 2020, period. Let’s explore what changed for C3.ai and what did not.
C3.ai’s growth story
In the October 31, 2019, quarter C3.ai generated $ 38.9 million in total revenue, counting both its subscription (high gross-margin) and services (low gross-margin) incomes. That figure grew to $ 41.3 million in the January 31, 2020, quarter.
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To achieve its goal of becoming a global leader for SaaS job marketing solutions, Dutch recruitment marketing platform VONQ has acquired Groningen-based job posting and programmatic job marketing platform InGoedeBanen (IGB). The purchased amount remains undisclosed.
The acquisition follows an investment by the pan-European private equity fund manager, capitalD. According to the company, this acquisition will allow VONQ to offer a full-service SaaS (Software-as-a-service) solution for the online recruitment market.
Growth plan after the merger
According to VONQ, 2020 has disrupted the HR marketing industry. The uncertainty in the trading environment has driven a push towards automation and insourcing. However, after the uncertainly, the growth in the field of hiring will be lifted, predicts the company.
VONQ believes that both the companies combined have the right product mix to accommodate the needs of both corporate and staffing customers. IGB will profit from the addition of media purchasing to their business model, while VONQ’s job marketing platform will be strengthened by IGB’s programmatic technology. The combination of the two companies also enables further expansion in new markets.
Tycho van Paassen, a co-founder of VONQ, says, “Having a highly innovative technology partner like IGB becoming part of the VONQ family and technology stack unlocks a whole new dimension of broadening our services. In combination with our job marketing platform, we get one step closer to becoming the one gateway to satisfy all recruitment needs on a global scale.”
Founded in 2007 by Jeroen Vos, IGB offers solutions for posting jobs across multiple portals and media. It can be integrated with applicant tracking systems (ATS) and recruitment CRM systems to support employment agencies, recruitment and selection agencies, as well as direct employers in posting job vacancies across job boards, social media channels, and search engines.
In addition, the company also offers performance reports for job ads posted on multiple sites, and a WordPress plugin for job posting on WordPress sites.
IGB offers integration with partners such as BullHorn, OTYS, and Textkernel, and counts Randstad and Young Capital among others as its clients. More than 10 million vacancies are posted per month via IGB, claims the company.
Founded in 2006 by Remy Verhoeven, Tycho van Paassen, and Wouter Goedhart, Rotterdam-based VONQ offers smart recruitment marketing solutions to help recruiters target the right talent.
According to the company, it offers customers all the information and tools they need to create an effortless recruiting process. Customers can track and manage their applicants anytime, anywhere.
With the help of an advanced job marketing technology, VONQ claims to help recruiters to promote their jobs via the best performing channels. With smart employer branding solutions, it empowers recruiters to promote their employer brand to their desired online audience.
Currently, it has over 140 employees operating from four offices across Europe including; Rotterdam (HQ) and Amsterdam (NL), Dusseldorf (DE and London (UK). Previously backed by Randstad Innovation Fund, VONQ claims to serve nearly 1,000 corporate customers including Deloitte, Shell, and Microsoft.
Image credit: VONQ