Squirro Celebrates a Year of Growth and New Initiatives
ZURICH, Feb. 6, 2025 /PRNewswire/ — Squirro, a top provider of GenAI platforms, wrapped up the second half of 2024 with nearly a 60% increase in revenue compared to the previous year. They expect even greater growth in 2025.
The company’s success is linked to several factors. Key partnerships, acquisitions, and new technologies have positioned Squirro to meet the growing demand for GenAI solutions. These tools help organizations improve operations, optimize resources, and stand out from their competitors.
In July, Squirro acquired Synaptica, a US company specializing in enterprise taxonomy management and knowledge graph systems. This merger enhanced Squirro’s capabilities, allowing them to meet the rising demands for Retrieval Augmented Generation (RAG).
“RAG is a valuable asset for our enterprise clients,” said Dorian Selz, co-founder and CEO. “It lets users ask questions in natural language, retrieve relevant information, and create contextually rich responses. While RAG alone isn’t perfect, integrating it with semantic technology and knowledge graphs increases its power. That’s why we chose to acquire Synaptica.”
Squirro continues to lead in safe AI adoption. In September, they invested in meetsynthia.ai, a US company focused on ensuring AI outputs are accurate and reliable through management systems tailored to enterprises. David Clarke from Synaptica took on the role of Executive Vice President for Semantic Graph Technology at Squirro.
October saw Squirro team up with Recenso Services, focusing on the telecoms sector. This partnership aims to provide telecom companies with insights, process automation, and improved efficiency.
“In 2024, we concentrated on enhancing our technologies,” Dorian Selz added. “In 2025, we aim to combine these elements to offer unparalleled precision, security, and scalability in enterprise AI.”
Recognizing Achievements
Squirro earned a spot on the prestigious Top 100 Financial Technology Companies of 2024 list by Financial Technology Report. This recognition reflects their strong presence in the FinTech sector, where major institutions like the European Central Bank and the Bank of England rely on their technology.
The company also picked up several awards in 2024, being named among KMWorld’s 100 Companies That Matter in Knowledge Management and featured on the AIinFinTech 100 List. Additionally, Dorian Selz was recognized as a Visionary Entrepreneur to Watch 2024 and received the Fintech Mentor Award at the Singapore FinTech Festival. The company was also acknowledged as a Representative Vendor in the 2024 Gartner Market Guide.
New Leadership Appointments
Squirro welcomed new leadership in 2024, including David Hannibal as Chief Product Officer and former Mastercard Executive VP Gary Kearns as Board Chair.
About Squirro
Squirro is a global SaaS provider based in Zürich, Switzerland. They offer advanced generative AI, search, business insights, and automation solutions. Their goal is to empower organizations by maximizing the potential of their data through cutting-edge AI technologies.
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