By leveraging unmatched maritime domain expertise, augmented by best-in-class artificial intelligence and machine learning
By leveraging unmatched maritime domain expertise, augmented by best-in-class artificial intelligence and machine learning, we empower our partners to predict what’s over the horizon, eliminate uncertainty, and build organisations. We believe that we can always do better and are continuously upgrading our data and technologies to deliver better, faster, and more powerful Maritime AI solutions for the entire maritime supply chain. In 2022, we launched key solutions which have considerably expanded our addressable market and increased our product differentiation. This includes the ground-breaking launch of our Ocean Freight Visibility solution to address supply chain challenges, considerably expanding our pipeline, and our API Insights Lab, which enables stakeholders to optimise work flows, while increasing economic efficiency.
20+ Data sources including multi-source satellite imagery
We have the right team in place
Our strategy is supported by an experienced and knowledgeable Board and a proven management team across Tel Aviv, London and Washington DC. We have a proven maritime track record, with a combined experience of 200+ years from naval commanders, maritime data scientists, and maritime trade and shipping leaders.
150 Team members
200+ Maritime years of experience
We are supported by a scalable business model
We have ambitious targets for both revenue and profit growth based on expanding our client base, growing our range of solutions while continuing to invest in innovation. Our business model is highly scalable and operationally geared with a clear strategy to achieve these ambitions and maintain high levels of growth in ACV. Our high margin, SaaS platform delivers our solution over a cloud infrastructure and with clients contracting on a subscription basis. This ensures not only high levels of recurring income, low churn and visibility of future revenue, but also underpins our key strategic opportunity of upselling additional services and modules to our clients as we develop and release them. Our API Insights Lab opens an additional business model to scale through third-party partners. We achieved 21% growth in ACV in 2022, reaching $25.5m. Our plan to reach profitability in FY2024 remains on-track, as we rapidly scale our subscription revenues from existing and new clients.
21% ACV growth for FY2022
We service a diversified and growing customer base, providing a strong basis for further expansion and new partnerships opportunities
Our customer base is drawn from a diverse range of verticals across the Government and Commercial sectors, including border protection, defence and intelligence, oil and energy, marine insurance, commodity trading, freight forwarders and beneficial cargo owners. We operate across four continents/regions. In 2022, our customer base has grown 59% year-on-year, and we remain focused on expanding our work with existing customers alongside new customer acquisitions, supported by our investments into sales and marketing activities. Our API Insights Lab launch opens a new world of opportunities for customers and partners to leverage our Maritime AI insights in their products and current workflows.
Geopolitical and regulatory changes are driving a greater need for our solutions
The transition towards digitalisation and automation is accelerating in the maritime industry. Digital technologies and solutions are being used to increase competitiveness and enhance operational efficiency. Data feeds from sensors and other sources of information can be used for decision making, enhanced monitoring, and verification.
1,200+ Tankers identified as “high risk” in the context of sanctions compliance and deceptive shipping practices
The size and complexity of the maritime industry provides us with a large addressable market
The maritime shipping industry transports around 90% of world trade, through an ecosystem that is complex, global in nature and includes many different stakeholders. The movement of cargo via vessels is based on specialised terminology, rules, regulations and long-standing market practices. We are using our deep maritime knowledge and insights to digitalise this underserved world, helping governments and businesses track and manage shipping, saving them time and money, reducing their carbon footprint and helping them comply with increasing regulations.
$10bn+ Total addressable market