NEW YORK, February 21, 2024 (Newswire.com) - Optimal Dynamics, the pioneer in automated decision intelligence for transportation companies, today announced another strong year of performance. This follows the 215% (2022) and 174% (2021) sales growth the company experienced since officially launching its go-to-market efforts in 2021.
For the fiscal year ended January 31, 2024, the company reported the following:
- Net new bookings doubled year-over-year
- Average deal size grew 56% year-over-year
- Fully deployed customers grew 3x
Optimal Dynamics has partnered with dozens of the industry’s largest truckload carriers and boasts more than 16,000 trucks under contract. Every day, Optimal Dynamics is evaluating 12 billion possible decisions to generate over 100,000 optimal decisions for its customers. These recommendations are driving customers to experience double-digit increases in revenue per truck per week and mileage per truck, an unimaginable feat in an extremely tight freight economy.
For CFO Scott Kenerly, the increase in operational scale is a byproduct of Optimal Dynamics' long-term strategic plan. “We’ve continued to invest in our data architecture and scalability, increasing our spend by 20% this year, which is driving consistent usage, faster deployments, and, ultimately, a more lucrative operation for customers,” said Kenerly. “These capital investments are key to long-term success, and it’s encouraging to witness the positive returns Optimal Dynamics and our customers are now generating from these initiatives.”
The company has continued to add new customers from enterprise and mid-market carriers to blue-chip 3PLs despite a historic downturn in the freight market. “Our sales growth and customer adoption are accelerating - we have experienced six consecutive months of steady customer acquisition,” said co-founder and CEO, Daniel Powell. “Given the market we are in, it’s truly a testament to the confidence our customers have placed in us to drive automation and efficiency throughout their operations.”
It was the right time to gather with customers at the company’s inaugural user conference last week in Phoenix. This first meeting covered everything from embracing organizational change to a deep dive into how the Optimal Dynamics engine works to a focus on the innovative roadmap ahead. "Joining this user conference in the early stages of our partnership was invaluable. The access provided to the Optimal Dynamics team, from the c-suite to our dedicated support and deployment teams combined with learning from successful customers in an intimate environment, will set us up for success moving forward," shared Jason Porter, sales and strategy manager at Grand Island Express.
To capitalize on this momentum, the company is launching a new series on LinkedIn Live called “The Road Ahead: How Decision Intelligence is Transforming Trucking” in which these topics and many more will be covered by internal data experts, customers, and partners.
About Optimal Dynamics
Optimal Dynamics is dedicated to providing state-of-the-art decision intelligence solutions to the transportation industry. The byproduct of 40 years of R&D at Princeton University, the company leverages its proprietary decision intelligence engine to deliver a comprehensive operating system to automate and optimize strategic and operational decisions for truckload operators. Optimal Dynamics is headquartered in New York City and is backed by marquee investors, including Bessemer Venture Partners, The Westly Group and Activate Capital. Learn more at www.optimaldynamics.com.
Original Release: https://www.newswire.com/news/optimal-dynamics-strong-performance-continues-to-outpace-the-market-22248742
