Octopeek records 20% growth in 2020 and confirms its internationalization#Press release
Octopeek, the French leader in artificial intelligence and Big Data for the past 10 years, announces a turnover of 4 million euros in 2020. Despite the effects of the worldwide public health crisis, this Big Data and artificial intelligence expert has remained competitive in 2020. Not content with merely experiencing double-digit growth since 2016, the AI and Big Data specialist has now established an international presence with a first new office in Boston and a second soon to open in Morocco. To support its development strategy, the company also plans to recruit 15 people in 2021.
Double-digit growth in the past four years
While many segments of our economy were severely impacted by the COVID-19 pandemic, Octopeek, the artificial intelligence and Big Data expert, had a highly successful year.
The company recorded a turnover of 4 million euros, a 20% increase from 2019. This momentum came from its core operations: consulting, training and project management.
Octopeek, an Enghien-based company, has always been self-sustaining. It provides support to CAC 40 companies and ISEs on projects related to data intelligence. In 2020, Enedis RTE and La Caisse des Dépôts et Consignation were among its new clients.
Octopeek also counts Banque de France, Bouygues Télécom, Société Générale and EDF among its existing clients who renewed their contracts in 2020.
The year also brought honors and recognition from the market. Octopeek received several distinctions: inclusion in the EY250, FW 500 and France Digitale rankings, and selection for the G20 Young Entrepreneurs’ Alliance and for the Impact USA program directed by Business France.
2020 also marked a historic moment for the company: the start of its internationalization. In July, Octopeek established a presence in the United States with the opening of its Boston office. The goal behind this step is to roll out and expand its business on the other side of the Atlantic, and to develop research-based partnerships through its proximity to Harvard and MIT.
“We are proud of these accomplishments, particularly given the complexity of the current situation. It proves beyond the shadow of a doubt that we have truly entered the era of data. The companies we have been advising for the past ten years know this already. From now on, to continue expanding our support services, we want to make greater use of the research-based ecosystem that we’ve built. We believe that our company’s future depends on taking a “holistic” approach to data. For Octopeek, this means exploring new ground, both geographically and in terms of our own potential. That’s the rationale behind our current project: a new software solution for companies, based on the best of Big Data and AI and informed by our 10 years’ experience and R&D in those fields” says Abdelkrim Talhaoui, co-founder of Octopeek.
“Research in support of innovation has been a core value at Octopeek from the beginning. It has guided our strategic choices. We invest 20% of our revenue in R&D, a third of our staff holds PhDs and we have created fruitful partnerships with prestigious schools and research laboratories like Centrale Supéléc and Paris-Saclay University” adds Mahmoud Zakaria, co-founder of Octopeek and Doctor of Mathematics and Information Technology.
Seeking new talents for new horizons
Bolstered by these accomplishments, Octopeek plans to continue its rise. The company’s goal is to achieve a 2021 turnover of 6 million euros, over half a million of which will come from new projects, including its product. In fact, as part of its service development strategy, France’s flagship AI and Big Data company has designed Octopeek Get IT, a solution that provides access to cloud-certified consultants, working remotely. These consultants will be recruited and trained by Octopeek as part of its new center in Morocco, scheduled to open in the coming months. It will be entirely dedicated to the cloud.
Finally, to support these goals, the company plans to recruit at least 15 people: 10 certified cloud consultants and five marketing and commercial positions.
“Capitalizing on the cloud is an obvious and necessary step to support business efficiency. An estimated 72% of upcoming deployments in France will be done in the cloud1. With Octopeek Get IT, we hope to make the best possible expertise in the domain available to companies in a flexible, agile way” says Abdelkrim Talhaoui.
“We are delighted with these first steps towards internationalization in the United States and Morocco. We believe that an organization like Octopeek truly belongs in these locations. But, after such a promising start, we won’t stop there! Our next locations, particularly in Switzerland and North America, will allow us to expand our research work and business development efforts even further” says Mahmoud Zakaria.
Octopeek is a company that provides Big Data and artificial intelligence consulting and training to businesses. The company was founded in 2010 by Abdelkrim Talhaoui, who earned a Master’s in Mathematics from Telecom ParisTech and an MBA from ESSEC, and Mahmoud Zakaria, who holds a Master’s in Mathematical Engineering and a Doctorate in Mathematics and Information Technology from Telecom ParisTech. Octopeek’s mission is to democratize the use of Big Data and Artificial Intelligence for business performance and productivity. Octopeek has nearly 50 employees, a third of whom hold doctorates and two-thirds of whom are engineers. In 2020, the company recorded a turnover of 4 million euros.
1 IDC study – Worldwide Artificial Intelligence Spending Guide – August 2020
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