Company poised to capitalize on growing market demand for computer vision-driven technology solutions
SANTA MONICA, Calif.–(BUSINESS WIRE)–December 21, 2017–
GumGum, an artificial intelligence company with deep expertise in computer vision, will end the year with record revenues, surpassing $100 million, representing 53% year over year growth and a 99.4% CAGR for six consecutive years. International expansion to Europe, Australia, Japan and LATAM helped drive more than 400% revenue growth in international revenue.
GumGum leverages proprietary technology to analyze visual content to help companies understand, target and measure, across visually-heavy mediums such as social media, publisher sites, and television.
With nearly 10 years of experience, GumGum is incredibly well positioned to help understand a world producing more visual content than ever before. LDV Capital forecasts 44.4 billion embedded cameras in the world by 2022 (3x what we have today), creating a critical need to understand and make sense of the trillions of images and videos expected to be produced daily. Computer vision is fast emerging as an answer to this problem across a range of industries.
“Our mission, since the company’s inception, has been to unlock the value of visual content. Computer vision, a cornerstone of AI, will be one of the most powerful technologies the world has ever seen and we’re investing heavily in research, development and the continued application of this capability,” said Ophir Tanz, CEO and founder of GumGum.
GumGum is expected to grow revenue from $72M to nearly $110M in 2017 – a 53% growth. Programmatic advertising was a heavy revenue driver as was growth in mobile, increase in direct brand and agency spend, and expansion into sports sponsorships.
Additional highlights include:
- Doubled revenue in 2 years
- CAGR over the last 6 years of 99.4%
- 105% revenue growth in programmatic
- Onboarded more than 50 new sports teams
- Over 400% revenue growth in international revenue driven by strong success in the UK, Australia and Japanese markets
- 7 patents pending; analyzing more than 500 million new images per day
- 16 offices across 4 continents
- 240 employees worldwide, a 25% increase from 2016, and an employee retention rate of 91%.
“GumGum Sports is a perfect example of stepping into new markets. We built proprietary technology capable of providing the only truly comprehensive sponsorship measurement solution across TV, streaming and social media. Leveraging computer vision and our patent pending sports detection algorithms, we’re able to capture and demonstrate dramatic uplift in previously unmeasured audience reach and engagement on behalf of our partners,” said Phil Schraeder, president and COO of GumGum.
Recent Q4 awards include: 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 an artificial intelligence company with deep expertise in computer vision. Its mission is to unlock the value of visual content produced daily across diverse data sets. Since 2008, the company has applied its patented capabilities to serve a variety of industries from advertising to professional sports, with more to come. For further information please visit: https://www.gumgum.com/.
Radix Collective for GumGum
Nicole Jordan, 310-390-3017