1 February 2017
DataArt Reports Record 2016 Revenue, Seventh Consecutive Year of Consistent 30+% Year-over-Year Growth
February 1, 2017 – New York, London, Munich, Zug – DataArt, the global technology consultancy that designs, develops and supports unique software solutions, today announced record revenue of $97 ML for 2016, marking the seventh consecutive year of annual growth over 30%.
In 2016 DataArt reached several other significant milestones, including further global expansion in Europe (Bulgaria) and the U.S. (Virginia Beach, VA, the Berkshires, MA and Dallas, TX), bringing total headcount to 2,200 across 20 locations in nine countries. The company was also included in the annual Inc. 500 I 5000 List of the U.S. fastest-growing private companies, for the seventh year in a row.
DataArt formed a dedicated Solution Design Group in 2016 and re-launched its Telecom Practice, which saw a 51% increase in annual revenue. Focused on building high-performance, cost-effective, secure infrastructure and solutions for telecom providers, the practice doubled its client roster in the past year, hosted an international hackathon, and partnered with key industry players, including IXIA, Telestax and Canonical.
The Finance Practice outperformed itself, posting a 75% revenue increase and signing 29 new clients in banking, exchanges, asset management, market data, fintech, and insurance. The practice launched new projects for many of its existing customers, including initiatives focused on legacy systems transformation, digitalization, data management, blockchain, and regulatory compliance. In 2016, for the first time, the Finance practice took over the entire IT operations, including personnel transfer, for a major asset management firm. It has also cemented its standing as a thought leader on the subjects of blockchain in compliance, cyber security and data protection, cognitive analytics, Cloud, and the future of Dodd-Frank and other regulations.
DataArt’s Healthcare and Life Sciences Practice almost doubled its revenue, expanding and diversifying its client portfolio with an influx of clients in the UK and Europe, and doubling the amount of customers with $1ML+ in annual billing. The practice won a Pediatric App Challenge award from InnovateNYP hosted by New York Presbyterian Hospital, for its patient engagement solution, and hosted its first keynote event, designed to build a community around pressing issues in the healthcare technology space.
The Media and Entertainment practice posted 27 % growth in 2016. Throughout the year the practice partnered with a pioneering music and video distribution company to help revolutionize the industry and develop the next generation of rights management and artist promotion systems. It was also selected by a media & entertainment conglomerate to migrate the company’s existing infrastructure, and deliver a cloud-based analytics and reporting solution.
For the Travel and Hospitality Practice, 2016 was a year marked by prominent new client acquisition, new partnership agreements, hosting signature events and receiving multiple industry accolades. The practice welcomed ISS GMT, JacTravel and Travelport as clients, became Oracle’s Gold Level Partner, joined Travelport Partner Network, and hosted the industry keynote Question Time events in both the U.S. and UK. The team was named a Travolution Best Technology team of the Year finalist and winner of the Tnooz Berlin Hackathon.
DataArt’s IoT Practice posted a 41% revenue increase, as it rolled out Cloud Enablement, Data Management and Machine Learning competencies. Strategic partnerships included AWS, RedHat and Mesosphere. DataArt is now well-positioned to deliver the benefits of an AWS-based infrastructure to its clients and offer data integration, warehousing, engineering and storage, Big Data and analytics capabilities, guiding clients through the comprehensive development and deployment of smart IoT solutions and wearable tech.
Alexei Miller, Managing Partner at DataArt, said: “Approaching $100 million in annual revenue is a significant milestone for DataArt and a key indicator of the measurable value we deliver to our clients. We are proud that more than ever, our initial engagements increasingly develop into long-term strategic multi-project partnerships as our clients recognize DataArt for our engineering excellence, business and technology consulting expertise, and simply the ease of working with us.”
To see full media coverage of DataArt in 2016, please see this link.
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DataArt is a global technology consultancy that designs, develops and supports unique software solutions, helping clients take their businesses forward. Recognized for their deep domain expertise and superior technical talent, DataArt teams create new products and modernize complex legacy systems that affect technology transformation in select industries. DataArt has earned the trust of some of the world’s leading brands and most discerning clients, including Nasdaq, S&P, United Technologies, oneworld Alliance, Ocado, artnet, Betfair, and skyscanner. Organized as a global network of technology services firms, DataArt brings together expertise of over 2,200 professionals in 20 locations in the US, Europe, and Latin America.