STRAT7 today announced its financial performance for fiscal year 2023 (to June 30th), which saw reported Group revenues of $76 million, a year-on-year increase of 48%.
STRAT7 also made key investments in its US business. These included opening new offices in New York and LA, hiring several new senior executives in the region and gaining new long-term relationships with US-based clients. Following the acquisitions of Rainmakers and Jigsaw, US-headquartered clients now account for almost 50% of global revenue and this increase has contributed to the strong demand for the Group’s services from global enterprises, including many Fortune 500 companies.
Barrie Brien, CEO at STRAT7, says: “Our position as a technology-enabled data and insight-led advisory group means we can truly help multinational clients understand, predict, and act on change. Since STRAT7 launched in 2019, the pace of change has accelerated beyond what anyone could reasonably have predicted. Our own rapid growth speaks to just how seriously global businesses take this challenge.
We are expanding our capabilities to meet clients’ needs and have made significant investments in our people, technology and operating platforms over the past 12 months. We’re well-positioned to maintain this momentum, with a particular focus on building our physical presence in the US as the next stage in our growth plans.”
Key strategic announcements in 2023 included the launch of STRAT7 Advisory, a consulting practice that develops customer-centric brand strategies, and the acquisitions of Jigsaw Research and Rainmakers CSI, two leading strategic insight agencies with a strong US client base.
The Group continues to innovate and invest in its technology platforms, notably in AI and machine learning tools. This includes ongoing investments in strat7.ai, which was launched in 2021. Strat7.ai provides unique opportunities to analyse customer needs, interactions and preferences through unstructured data sources. This also allows STRAT7 to scale operations and work even more effectively to provide better value for clients.
The strat7.ai team grew through a number of new hires and internal appointments in FY2023 with a focus on developing AI-powered platforms and methodologies, and to implement new ways of working to drive efficiencies across the Group.
Highlights of FY2023 include:
● Reported revenue for the group increased by 48% to $76 million.
● Proforma revenues were $80m with double digit organic growth.
● Acquisition of Jigsaw Research and Rainmakers CSI, two leading strategic insight agencies.
● Launch of STRAT7 Advisory, a consulting practice that develops customer-centric brand strategies.
● Researchbods opened its first US office in New York; Crowd DNA and Incite increased their headcount in the US region.
● STRAT7 began the process of becoming a certified B Corporation.