Despite challenging environment, AI Start-up Alexis Networks sees record-breaking revenue year
November 25, 2020
It’s been a tough year for many start-ups, small and midsize businesses, as the COVID-19 pandemic and resulting economic downturn wreaked havoc on companies’ top and bottom lines.
But that wasn’t the case for AI Start-Up Alexis Networks. In fact, 2020 turned out to be a record-breaking revenue year for the firm, which is based in New Jersey and incorporated in Delaware.
In fiscal year 2020, AI Start-Up Alexis Networks grew revenue by 300%, as two of its main AI Software Offering — One Click Online Fraud Detection and Alexis Platform Services (APS) — saw increased demand amid the pandemic.
The firm, which has a staff of over 10 reported a highly successful 2020 primarily from its One Click Online Fraud Detection solution that targets — Financial and Banking Services (FinTech), Healthcare Insurance (Medicare and Medicaid), Retail, Transportation (Fleet Management) and Pharma / BioTech.
The strong year allowed Alexis Networks to finish fiscal 2020 without any layoffs. This bodes well for next year as well.
Alexis Networks is expecting a significantly stronger demand in 2021 for its One Click and the Alexis Platform Services.
Proof of Concepts
Beyond growing existing business, the AI firm recently launched its Alexis Platform Services (APS) Project. The initiative combines Alexis Networks' diversity and inclusion and proof of concept practice areas to take on customer challenges that combat the impact of COVID-19 pandemic and shift in customers expectations from AI.
As part of that initiative, the firm sponsored an internal R&D project to develop and launch the first-in-lass AI As A Service Platform — Alexis Platform Services — .
Alexis Networks isn’t alone in digging into proof of concepts with customers.
“We do find there has been increased attention to our One Click solutions as a whole, and we’ve been encouraging customers to also engage in proof of concepts. We expect that our Alexis Platform Services will see great demand in 2021,” Rick Parimi, CEO of Alexis Networks said.