11 February 2015
DataArt Announces 2014 Results: Record Revenue, New Industry Expertise & Global Expansion
Technology Consulting Firm Reports Major Client Wins & Record Revenue across Practices
NEW YORK & LONDON – February 11, 2015 – DataArt, a leading technology consulting firm, today announced that 2014 was its best year yet: the company posted record revenue of $54M, a 36% increase year-on-year; expanded operations to Central Europe and Latin America; and won 91 new blue chip clients across key industry practices.
In 2014, DataArt followed up on its plans to develop specialized offerings for enterprise clients that address their unique challenges related to scale, regulation and competition, which now include product design, enterprise system modernization, and managed services. Continuing its regional expansion, DataArt opened three development centers, two of them in new countries - Poland and Argentina. With all three up and running, DataArt now provides same-time-zone service to clients in the U.S and the European Union out of Buenos Aires and Lublin respectively, adding to its traditional engineering excellence in Eastern Europe.
In response to the growing demand for skilled consultants, DataArt acquired AW Systems, a web engineering and consulting firm specializing in usability, systems integrations and collaboration solutions, to expand its portfolio of consulting services, bringing on board new leaders and talented teams, as well as clients including United Technologies, OneWorld Alliance, and Habitat for Humanity. DataArt’s clients now have access to a wider pool of talent and enjoy a higher degree of reliability across global regions and the ability to hedge delivery risks across portfolios. With hundreds of new hires added in all 13 global locations, DataArt is now home to over 1,500 dedicated technology consultants in North and Latin America, as well as in Central and Eastern Europe.
The 36% year-over-year rise in revenue can be attributed to the impressive performance of all five industry practices at DataArt. The Financial Services practice, the most seasoned, posted 42% year-over-year revenue growth, adding more than a dozen blue chip clients in the banking, asset management, financial ratings and management consulting spaces with $1M in annual billing each. The practice continued to invest in its own R&D projects, which included a new iteration of the popular AIFMD Compliance Solution, an asset allocation analyser and a reporting quality framework.
DataArt solidified its hold on the Healthcare & Life Sciences market in both the U.S. and UK, with 67% growth for the practice in 2014. DataArt has served blue chip clients in Pharmaceuticals, EHR, Medical Research and Health Insurance. In 2014, we saw the greatest growth in drug discovery, patient engagement, and health and wellness technologies.
Building on the popularity of DeviceHive, the company’s signature open source M2M framework, DataArt established a dedicated M2M/IoT consulting practice. With the market forecast forecasting the sector to grow to an estimated $7.1 trillion by 2020, DataArt is now well-positioned at the forefront of pioneering technology consultants to guide clients in the development of IoT and M2M tech and help them focus on product creation and innovation without investing significant time in device communication and management. Recent and important partnerships in the space include wot.io and ubuntu.com.
The Travel & Hospitality practice tripled its revenue and welcomed new partnerships with key clients HotelTonight, Skyscanner and Apple Leisure group, among others. With continued focus on the guest experience in the hospitality sector, DataArt helped with a number of system-wide integrations in addition to implementing ancillary services, which provide new revenue channels for hoteliers. Travel distribution witnessed considerable consolidation among big OTA players, which has led to cooperation on a number of enterprise integration and reengineering projects. DataArt has helped its partners make better use of the data in "their own hands.” Whether “Big,” variety or fast, the companies focused on data are achieving new efficiencies and incremental revenue channels by deploying data tools more strategically throughout their businesses.
Strengthening its core expertise in digital asset management and analytics, big data, multimedia streaming and data visualization, the Media and Entertainment practice demonstrated steady growth of 40% in 2014, servicing major lifestyle, publishing and music brands.
“DataArt's significant investment in building out a scalable and resilient business platform, while tailoring and expanding the offering to better serve our clients, is paying off,” said Eugene Goland, President of DataArt.” With our scale, geographic reach, combined team expertise and industry knowledge, there is now no limit to the complexity and urgency of issues we can resolve for clients. We have evolved into a true partner for some of the world’s most discerning brands, creating end-to-end technology solutions to support their most critical business needs – from conception through technology strategy, solution design, implementation and managed support.”
In 2014, DataArt was once again named to the prestigious Inc. 5000 list of the fastest growing U.S. companies, and forged partnerships with important industry players across key sectors.