Spitch, a leading conversational AI solutions provider, is proud to announce its outstanding financial results for the 2024 fiscal year, coinciding with the company's 10th anniversary. Spitch has once again achieved remarkable growth, solidifying its position as a pioneer in the conversational AI industry.
In 2024, Spitch reported a remarkable 60% increase in revenue compared to the previous year, surpassing expectations and setting new records. This success is supported by a strong customer base of over 100 loyal customers. The revenue boost aligns with Spitch’s go-to-market strategy, which always prioritizes and motivates partners as the most scalable channel.
Spitch's success can be attributed to its continuous innovation and the development of cutting-edge conversational AI solutions. The company has launched several groundbreaking initiatives in 2024, including generative AI-driven knowledge base solutions, LLM-powered Retrieval-Augmented Generation (RAG) for multi-modal document stores, and a state-of-the-art quality management solution driven by recent advances in LLMs and generative AI technology. In addition to enriching Spitch’s existing dialog composer, speech analytics, knowledge base, chat platform, and agent assistant suite offerings, these achievements have positioned the company as a pragmatic leader at the forefront of the industry. This approach has attracted an ever-growing base of corporate customers and strategic partners.
Spitch’s full stack of professional services along with easy-to-use and continuously improving UX/UI enables both the company’s partners and its customers’ AI teams to embed new AI models and develop new solutions in no time and with no limits.
The company has expanded its customer base worldwide and won new clients in the utilities sector, broadening its focus beyond public services, banking, and insurance. Spitch strengthened its leadership in conversational AI solutions for the financial services industry in Germany as well as in the public services and utilities sectors in Italy, having started to develop new verticals in these and other countries thanks to Spitch’s unique new languages and partners onboarding processes.
In particular, Spitch keeps extending its strategic European outreach with Genesys and Genesys' partners. Spitch has also forged strategic partnerships with industry leaders like, Swisscom, NTT DATA, Adnovum, UMB, Asystel-BDF, Konecta, NextIP, Intrarom, etc. enabling the company to offer comprehensive, end-to-end solutions that improve customer experience and increase efficiency.
Partik Spoerri, Head of Process & Workflow Solutions at Swisscom, commends the partnership with Spitch, "Swisscom, as Switzerland's leading IT and telecommunications provider with over 6 million B2C and 200,000 B2B customers, excels in customer interaction, technical integration, and solution design. I am proud to say that our partnership with Spitch is instrumental, leveraging their robust core technology and comprehensive, well-integrated range of Conversational AI products. Together, we offer a unique end-to-end solution – from infrastructure to service – simplifying the customer experience and increasing efficiency with platforms that deliver fast, tangible value."
Carlos Moreira, Head of Communication Services and Member of the Leadership team at UMB, a leading Swiss IT solutions and services provider, adds, "UMB is proud to partner with Spitch to offer its cutting-edge, comprehensive conversational AI platform to improve the public services sector in cantons and municipalities, such as the city of Kreuzlingen. This collaboration underscores our mutual commitment to delivering innovative, scalable, and cost-effective solutions for public services in Switzerland. We congratulate Spitch on its 10th anniversary and look forward to shaping a future of innovation and success together."
Edgar Baumeler, Senior Managing Consultant at NTT DATA, a leading provider of innovative business and IT services, is convinced, "NTT DATA has a broad spectrum of experts complemented by a reliable partner ecosystem.
Together with Spitch, we are setting new standards for conversational AI applications and ensuring that customers receive comprehensive and cost-effective solutions. Through this collaboration and the use of the innovative conversational AI platform to enhance our technology service offering, we enable customised solutions across multiple industry verticals and major customers such as Migros Bank or Baloise Insurance. As Spitch celebrates its 10th anniversary we look forward to being a part of their journey and continuing our successful partnership."
Spitch's exceptional performance in FY2024 is a testament to its ability to navigate and thrive in the rapidly evolving conversational AI market. With the increasing adoption of generative AI technologies, Spitch is well-positioned to capitalize on the growing demand for innovative solutions. According to Deloitte's December 2023 Generative AI Survey, 31% of enterprises expect generative AI to lead to significant transformation in their organizations and industry within the next year, while another 48% anticipate this transformation to occur within the next three years.
As Spitch celebrates its 10th anniversary, the company remains committed to pushing the boundaries of conversational AI and delivering unparalleled value to its customers.
Alexey Popov, CEO at Spitch, expressed his enthusiasm for the future stating, "As we mark this significant milestone in Spitch's history, we are incredibly proud of our achievements and the trust our customers and partners have placed in us. Our focus on innovation, customer success, and strategic partnerships has been the driving force behind our growth. We look forward to shaping the future of conversational AI and delivering even greater value to our clients in the years ahead. Internally, we are very well-structured and prepared to support our customers in the forecasted AI-driven contact center digitalization boost”.
