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Solix Technologies, Inc. announces 2023 Results

Posted On: 2024-02-09 23:23:22 (Time Zone: IST)


As the pace of digital transformation accelerates, Solix Technologies, Inc., a leading provider of cloud data management solutions, celebrates strong customer momentum and new data management solutions to help its customers thrive in the AI-driven future. With a year marked by significant product announcements, strategic partnerships, and an expanding customer base, Solix is strategically positioned to lead in the enterprise data and AI revolution space.

Profitability and Sustained Growth:

Solix proudly announces another year of profitability and market expansion, marking a significant achievement in its journey. The company has experienced exceptional growth in excess of 50% in 2023, fueled by the growing adoption of the Solix Common Data Platform and the launch of SOLI"Cloud Enterprise AI, a generative AI and machine learning solution.

SOLIXCloud, the company's cloud data management platform, experienced exceptional growth, boasting over 60% expansion in 2023 with over 130% NRR. This remarkable uptake underscores the market's confidence in SOLIXCloud solutions.

Thought Leadership:

In October, Solix achieved a resounding success with SOLIXEmpower 2023, its annual customer conference. This year's event was a collaborative endeavor with the University of Colorado Denver Institute for International Business, and the event's theme was to explore information architecture (IA) for artificial intelligence (AI). The conference was well-attended in person and via livestream by Solix customers, industry experts, academia, and students from the University of Colorado focused on business and computer science.

Product Innovation:

Solix continued its product innovation with the release of

- SQOLIXCloud Enterprise AT - A generative AI and machine learning solution for the enterprise

- Solix Common Data Platform 3.0 - A cloud native, enterprise data platform

- Solix SafeArchive - A low-cost, mulli-cloud archive repository for historical data

Solix Users Group:

To increase focus on continued customer collaboration and product innovation, Solix proudly launched the SOLIX Users Group, an education, networking, and advocacy forum for Solix Customers. The new customer-driven organization will play a major role in setting Solix product priorities and will also hold an annual meeting at the Solix Empower 2024 conference.

Strategic Partnerships:

Solix is excited to announce strategic partnership and distribution agreements with industry leaders, including Iron Mountain, the world's largest archiving and records management firm, and Kyndryl, the world's largest provider of IT infrastructure. These strategic partnerships significantly expand our presence in the global enterprise data management landscape.

New Customer Wins:

During 2023, Solix achieved major customer wins with industry leaders such as Wells Fargo Bank, Elevance Health, Sterling Pharmaceutical Services, Cencora, FCCI, Constellation Brands, Staples, Coopervision, Sandvik, WL Gore, Corbridge Financial, Honest Company, Elida Beauty, Panasonic, Insignia Financial, and more.

Today, Solix proudly serves a diverse range of industries, including banking, insurance, consumer products, pharmaceuticals, and financial services. Solix counts among its customers:

- 3 of the top 10 banks
- 6 of the top 20 insurance companies
- 2 of the top 10 consumer products companies
- 2 of the top 10 pharmaceutical companies
- 3 of the top 20 financial services companies
- 3 of the top 20 companies overall

"In our quest to process huge and growing volumes of data across many diverse data landscapes, Solix Common Data Platform stands out as a cloud native, high performance data platform for the enterprise with complex data pipeline scenarios, all of which are essential to the digital transformation use cases," said Robin Bloor, Founder of Bloor Research.

Sai Gundavelli, CEO of Solix Technologies, Inc., emphasizes, "Solix continues to achieve remarkable growth and profitability, which is a testament to our unwavering commitment to software innovation and customer success. Our strategic parlnerships with Kyndryl and Iron Mountain will help us meet the evolving needs of our diverse customer base. As we move forward, Solix remains focused on delivering cutting-edge enterprise intelligence and AI solutions to empower data-driven organizations."

Shares of TechNVision Ventures Limited was last trading in BSE at Rs. 840.00 as compared to the previous close of Rs. 848.00. The total number of shares traded during the day was 232 in over 8 trades.

The stock hit an intraday high of Rs. 864.95 and intraday low of 840.00. The net turnover during the day was Rs. 197499.00.


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