Goodbye 2023. Welcome 2024.
A letter from CEO
The world is simply going crazy. Not because of Artificial Intelligence, but simply because some people have lost their humanity. We want to democratize innovation and development and we believe that the most efficient environment to develop and create something meaningful is having a solid government, open society and democracy. Our customers are working in this kind of environment and even if the year 2023 was a difficult one in macro environment, our customers have had a good year and thanks to that we had a good year as well. Our customer churn was -20%, meaning that our existing customers trusted us and bought more from us than the previous year. Without losing a single customer. Big thanks to our wonderful customers!
2023 was a turning point for us in many ways. First of all, we implemented various AI engines in our platform, sharpened our offering within Strategic Portfolio Management and extended our team in the UK. Our monthly recurring revenue grew 30% during 2023 and we are forecasting a further growth of 40-50% during 2024. We joined the Gartner Applications in London and IT Symposium in Barcelona and we were recognized as the most modern and attractive company in the SPM category. We had a queue at our booth in both events and made over 100 demos during each event. This all encouraged us and proved that we are on the right path.
2024 will be a year of focus. We will focus on deepening our customer relationships, supporting the growth in the UK and DACH, and hopefully entering the US market. There we need some additional external investment and we are waiting that the right investor will be knocking at our door.
There will be many surprises and hopefully more positives than negatives. Happy New Year 2024.