Without being too literal, 2018 was the year that Daisy blossomed.
In 2018, Daisy emerged as a fast-growing company delivering artificial intelligence technology that drives tangible and significant financial results for grocery retailers and insurance companies.
In a nutshell,
- Revenue climbed by 100%.
- Clients were added in two continents, making Daisy a company with a global footprint.
- The number of employees climbed by 50%, including employees in two new countries. We also helped some employees emigrate from our development team in Ukraine to Toronto.
Daisy’s growth and industry-changing technology also attracted the attention of third-parties:
- Gartner Inc. named Daisy as one of the “Cool Vendors in AI”. The Cool Vendor research identifies “new and innovative vendors supply AI solutions that support a variety of retail business benefits”.
- We were named the “Best AI Startup” at the 2018 Alconics awards, the world’s only independently-judged awards celebrating artificial intelligence for business. A panel of 11 judges from leading venture capital firms, academia, and enterprise end-users evaluated more than 300 entries from around the world before selecting Daisy.
- We were awarded a $5-million term sheet from Espresso Capital at the ElevateR Pitch: AI Edition competition, beating out 15 other startups. The pitch competition was open to Canadian companies working in AI or an adjacent industry.
- Wired Different ranked Daisy within its “Toronto 50”, which features the 50 leading startups in the Greater Toronto Area.
“We made impressive strides forward in 2018 on several fronts,” said Gary Saarenvirta, Daisy’s CEO. “The revenue growth and industry recognition reflect how our innovative AI-powered technology is making a huge financial impact for our customers. We’re talking about significantly higher profits and operational efficiencies. This has allowed us to stand out from the crowd by delivering AI that drives ROI. We’re telling a compelling story that’s unique within the AI community.”
Daisy’s technology is propelled by reinforcement learning that optimizes decisions by continuing to learn from business results as they occur. As a result, Daisy can deliver better and more accurate business decisions to drive unprecedented net income results.
For grocery retailers, Daisy can increase net profits by more than 100% and total sales by 5% within an industry that works with 1% gross margins.
Using Daisy’s technology, insurance companies can detect fraud more easily, saving them millions of dollars in claims payments. Our technology can also reduce false-positive rates by more than 50%, making insurance investigators more efficient and successful.
“While many technology companies talk about using AI, our technology delivers results…and we can prove it. That’s the bottom line,” Saarenvirta said. “Heading into 2019, we’re excited about breaking into new markets and attracting more customers. The reality is if you don’t embrace AI within your business, you will be left behind. AI is here, it’s affordable, and it’s a game you don’t want to be late to.”
