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CognitiveScale Reports Record Annual Software Subscription GrowthDelivers third sequential year of triple-digit year-on-year growth ML Maco joins as CRO AUSTIN, Texas, Jan. 22, 2019 (GLOBE NEWSWIRE) -- CognitiveScale, the emerging leader in Augmented Intelligence software, today announced record growth in annual software subscription sales driven by high market demand for its Cortex5 Augmented Intelligence software. The company reported a 128 percent year-over-year growth in annual software and subscription revenues in 2018. This represents the third year of triple-digit sequential growth in the company’s five-year history. Gross margins, average selling price per client, churn, and customer satisfaction scores improved markedly as well. Some other notable accomplishments for 2018 include: Client Growth IP and Patents Awards Product Enhancements New Executive Hire “2018 was a banner year of growth, innovation, and client success for us,” said Akshay Sabhikhi, CEO at CognitiveScale. “There is a tremendous pent-up demand for enterprise software that helps clients solve complex business problems through practical, scalable, and responsible application of AI. We look forward to another great year in 2019 backed by continued pace of product innovation, deepening of our channel partnerships, and continued improvement in our global delivery capability.” “CognitiveScale is leading in a new and exciting AI software category that pairs humans and machines to solve complex business problems,” said Robert LeBlanc, Board Member at CognitiveScale and Former Senior Vice President at IBM. “Clients are excited about the early results from Cortex5 in terms of accelerating time to value with AI while future-proofing AI and data investments.” About CognitiveScale CognitiveScale’s Augmented Intelligence software helps businesses apply Artificial Intelligence and Blockchain technology to solve complex business problems at scale for financial services, healthcare, and digital commerce markets. The company’s award-winning software is being used by global leaders such as Morgan Stanley, JPMorgan Chase, USAA, MD Anderson, ExxonMobil, and NBC to increase user engagement, improve decision-making, and deploy self-learning and self-assuring business processes. Headquartered in Austin, Texas, CognitiveScale has offices in New York, London and Hyderabad, India, and is funded by Norwest Venture Partners, Intel Capital, IBM Watson, M12, and USAA among others. For more information on the company, please visit us at cognitivescale.com and follow @cognitivescale on Twitter. Media Contact **IDC Innovators reports present a set of vendors – under $100M in revenue at time of selection -- chosen by an IDC analyst within a specific market that offer an innovative new technology, a groundbreaking approach to an existing issue, and/or an interesting new business model. It is not an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies. Vendors in the process of being acquired by a larger company may be included in the report provided the acquisition is not finalized at the time of publication of the report. Vendors funded by venture capital firms may also be included in the report even if the venture capital firm has a financial stake in the vendor’s company. IDC INNOVATOR and IDC INNOVATORS are trademarks of International Data Group, Inc. |