Zurich, Switzerland. February 6, 2025 — Squirro, an enterprise GenAI platform provider, announced it closed out the second half of 2024 with a year-on-year increase in revenue of almost 60 percent and a growth forecast to exceed this in 2025.
The company attributed this to several factors: acquisitions and partnerships, new technology and its ability to meet demands for GenAI technology that can help organizations elevate their operations, optimize resources and differentiate themselves from the competition.
In July, Squirro announced the acquisition of Synaptica, the US-based SaaS provider of enterprise taxonomy management and knowledge graph systems. This brought together Synaptica’s robust semantic graph technology with Squirro’s GenAI capabilities to enable Squirro’s platform to answer demands for Retrieval Augmented Generation (RAG).
“RAG has become a sought-after solution that empowers our enterprise customers to ask natural language questions, retrieve relevant content and data and transform it into contextually informative responses,” said Dorian Selz, co-founder and CEO at Squirro. “Alone, RAG is not the final piece of the jigsaw in terms of completeness or accuracy, but with enterprise knowledge graphs and semantic technology, it becomes a very powerful tool, hence our acquisition of Synaptica.”
As a pioneer in AI, Squirro has been at the forefront of ensuring the safe adoption of AI technologies, and in September the company made a strategic investment in meetsynthia.ai, a US-based specialist in AI guardrail management systems that help ensure AI outputs are accurate, reliable and in-line with enterprise-specific requirements. David Clarke, co-founder of Synapitca, joined Squirro’s leadership team as Executive Vice President, Semantic Graph Technology.
The telecoms industry came into focus for Squirro in October when it announced a strategic partnership with Recenso Services, which provides consulting and delivery expertise to empower telecoms enterprises with actionable insights, process automation and improved operational efficiency.
“2024 was a year in which we focused on the technology to provide vital elements including Enhanced RAG, knowledge graphs and AI guardrails,” continued Dorian Selz. “2025 will be the year that all of these elements combine together to deliver a level of precision, security and scalability that is unmatched in enterprise AI.”
Squirro was listed among the prestigious Top 100 Financial Technology Companies of 2024 by Financial Technology Report, an accolade that highlights the company’s established footprint in the FinTech sector, where its technology is relied on at scale by industry leaders including: the European Central Bank, OCBC Bank, Standard Chartered, the Deutsche Bundesbank and the Bank of England.
This followed a series of 2024 awards including a place among KMWorld’s 100 Companies That Matter in Knowledge Management as well as being named on the AIFinTech 100 List. Dorian Selz was named Visionary Entrepreneur to Watch 2024 and he received the prestigious Fintech Mentor Award at last year’s Singapore FinTech Festival. The company was also recognized as a Representative Vendor in the 2024 Gartner Market Guide.
2024 was a year of new arrivals at Squirro with the appointment of new CPO and Head of Corporate Development David Hannibal and former Mastercard Executive VP Gary Kearns as Board Chair.
