At times of great economic uncertainty, it’s hard to conceive of a technology that matters more to a company’s survival and ultimate success than real-time operational analytics.
Operational analytics is all about the data and analytics that underpin an organization’s financials, supply chains, manufacturing, and people – the core parts of a business that create value, and around which everything else revolves. When it comes to fortifying the bottom line and making strategic bets on the future, it pays to have full visibility into core business systems and the analytical power and agility to investigate what happened in the past, why it happened, and what is likely to happen next.
Today, businesses everywhere are operating in a world that continues to grapple with the effects of rising geopolitical tensions, supply chain disruptions, record-high inflation and slowing economic growth on a global scale. It’s an environment we haven’t seen in decades, and that makes it a hard transition for many companies and business leaders.
While nobody wants to see such disruption to the fabric of modern business and society, as CEO of the world’s leading platform for financial and operational analytics, I am tremendously proud that we can help so many companies achieve the analytical power, speed and flexibility that’s needed to navigate these challenging times. The stories we are hearing from customers are truly inspiring.
At the halfway mark for 2022, demand for the Incorta platform is higher than ever. Market tailwinds aside, Incorta entered the year poised for a breakout. In 2021, we invested heavily in building a foundation for hypergrowth in 2022 and 2023 – we raised $120M in Series D funding, made 200+ new hires (including eight executive leaders), and expanded our global footprint with new locations in APAC, EMEA and North America. Indeed, in 2022, those investments are already paying dividends.
Beating the forecast
Here’s a snapshot of Incorta’s midyear momentum, as of June 30, 2022:
On the revenue front, we eclipsed 2021 annual recurring revenue (ARR) in the first half (H1) of 2022 alone, with 2x gross new ARR vs. H1 2021. We also doubled our customer growth rate, with 2x more new customers signed in H1 2022 compared to H1 2021.
Product innovation charged ahead as well, with new capabilities, features and solutions being released in H1 2022. Notable advances include the launch of the Analytics Data Hub for Finance, which enables IT professionals to quickly deploy a centralized hub for financial analytics and empower finance decision-makers with timely, accurate insights; a native Delta Sharing integration for quick and easy sharing of operational data across a wide variety of data platforms and solutions; and new data applications, which provide additional prebuilt business schemas and dashboards for Oracle EBS, Oracle ERP and EPM Clouds, NetSuite, SAP, Workday and more.
Incorta’s continued product innovation also led to recognition by Gartner, Inc. in the 2022 Gartner® Magic Quadrant™ for Analytics and Business Intelligence Platforms and in the 2022 Gartner® Market Guide for Analytics Query Accelerators. Notably, Incorta is the only company featured in both reports.
In January, we unveiled a new and improved Global Partner Program and hosted the first Incorta Partner Summit. Six months later, we’ve added 38 new partners – including BlackLine, Tata Consulting Services (TCS) and Viscosity – and have a long list of other new partnerships in development.
In May, we hosted Zero Gravity, the industry’s first conference dedicated to modern cloud data pipelines. The event attracted 7,200+ data engineers and architects from 140+ countries, and included technical use case sessions from Incorta customers Comcast, Meta, Keysight and others. Keynote speakers included Google Cloud CEO Thomas Kurian and Microsoft Corporate VP of Azure Data Rohan Kumar.
Expansion of Incorta’s global footprint continued in earnest in H1 2022 as well, with new locations in the United States, United Kingdom and India. We are also very proud to report that Incorta was recognized as a Best Workplace for 2022 by Inc. Magazine.
Ready the record books
If the first half of 2022 is any indication, the back half of the year is setting up for an epic crescendo.
We’re in the right place at the right time, with the right technology and the most remarkable team. Our customers are transforming their businesses in powerful ways and spreading the word about how Incorta makes it possible. Our partner ecosystem is growing fast and extending Incorta use cases into interesting new domains. Industry analysts are taking notice in a big way. And global demand for real-time operational analytics on raw business data is skyrocketing.
It’s a good day to be an Incortan.
Here’s to the final two quarters of 2022. We are flying high and the wind is at our back. Let’s build on the momentum and make this a year for the record books. Together we go far!