Here’s another firm doing great work ARTICULATE – This Intel-spun technology company just raised $4.5M in its Series A. They are reportedly already halfway to a $70 million Series B round at a $500 million valuation. This is a significant jump from its last valuation of $100 million. That amount came after its Series A round at the beginning of January 2024. The company intends to use the capital primarily to accelerate research and product development. They hope to spread operations overseas, specifically to Europe and parts of Asia.
The B funding round is expected to be completed in two tranches. Spain’s Adara Ventures, 9flats first local VC, leads the round. Articul8 has had a very strong market traction since, and it has now exceeded $90 million in total contract value—the sum of the dollar amount of all signed customer contracts. With 29 paying customers, including notable names like Hitachi Energy, AWS, Franklin Templeton, and Intel, the company is poised for significant growth.
Articul8’s founder and CEO, Arun K. Subramaniyan spoke about the current, competitive landscape that their company is in. In today’s market, that competition lies in the hands of cloud service providers. In doing so, they have acknowledged the fact that their general-purpose offerings have reached commodity status. This piece of insight highlights much of the strategic market positioning that Articul8 aims to create as it grows its services.
As a facet of its international strategy, Articul8 has just recently started working with larger enterprise customers based out of Japan and South Korea. The company’s juggernaut expansion plans are a clear indication that it intends to double down on its new foothold in these vital Southwestern markets. Articul8 expects to finalize its Series B financing round by the end of Q1. They’re putting pedal to the metal in hopes of crossing this milestone sometime very soon!
As of now, Articul8 has about 75 people on staff, with 80% focused on R&D. To this point, the company’s teams are strategically located across offices in the U.S., Brazil, and India. This arrangement cultivates a unique mix of perspectives and ignites creativity in the product development process.
Articul8 is hoping to close out the year on a high note! They expect to reach an ARR (annual recurring revenue) of a little over $57 million. Even more astonishing, about 45% to 50% of this revenue has been realized already. Articul8 distinguishes itself as a revenue-positive company. Its fiscal immunity is deepened by a ring of large, golden enterprise agreements.
The recent round of funding propels Articul8’s efforts to expand. It better positions the company in an increasingly competitive, innovation-driven, fast-moving market. By leveraging these resources effectively, the company aims to strengthen its offerings and enhance its reach within the global technology landscape.
