DataWalk considers the monetization of the record sales funnel value of USD 40.54 million as a priority, said CEO Paweł Wieczyński. The company wants the median value of a new contract to exceed USD 1 million in 2024.
“The record value of the sales funnel is USD 40.54 million [compared to USD 27 million a year earlier]. Monetization and returning the funnel-to-revenue conversion rate to pre-2022 levels are our current priorities. We are constantly improving go2market processes and changing the customer profile,” Wieczyński said during a video conference.
He added that 38% of the funnel value ($15.3 million) are projects above USD 1 million. “In 2024, we would like this to be the median value of a new contract. We are in the process of transitioning to clients who will represent greater revenue and reference potential,” the president noted.
At the same time, the company is revising the prices for its graph analytics platform. “This will be a significant revision from January. We are focusing on contracts that will actually provide us with a better platform for development with the business model and its effectiveness that we present today. Naturally, we want to increase this efficiency,” added Wieczyński.
He also emphasized a twofold increase in the share of commercial projects in the funnel compared to 2022, including a large group of banks.
Stage IV of the strategy currently being implemented by DataWalk with a deadline in the second half of 2024 assumes scaling in the US and around the world (reaching over 100 customers), developing sales through partners to accelerate scaling, obtaining a distinction in the Gartner Quadrant and/or a product award, a round of financing for further growth and the first acquisition proposals as a product company.
DataWalk is a technological entity that is one of the few in the world that has built an analytical product based on its own technology that solves global security problems. The DataWalk platform connects billions of objects from many sources, finding application in the field of forensic analytics in the public and financial sectors, including: in the fight against crime (American agencies), fraud (insurers) and in identifying fraud (central administration). The company was listed on NewConnect since 2012, and in 2019 it debuted on the main market of the WSE.