DataArt Releases Strong Full Year 2022 Results

In 2022, the company expanded its global footprint, strengthened its service offerings in key innovation sectors, and achieved approximately 29% revenue growth.

NEW YORK & LONDON & MUNICH & ZUG, Switzerland--(BUSINESS WIRE)--DataArt, a global software engineering firm, today reported $378M in preliminary revenue for 2022 and announced a successful year, highlighting the current strengths of the business across clients, partners, and people.

For the last five years, DataArt’s CAGR was 25%, illustrating consistent and sustainable growth. Over the past year, the company added more than 70 new client relationships with over $50M in new business.

2022 Quick Highlights:

• Global expansion - presence in six new countries including: Brazil, Colombia, Cyprus, Latvia, Romania, and Serbia
• New production centers - in nine new cities including: Belgrade, Cluj-Napoca, Krakow, Lodz, Nicosia, Riga, Tbilisi, Varna, and Warsaw
• Investment - $75M growth investment from FTV Capital
• M&A - Lola Tech, which led to establishing presence in Romania
• New hires - more than 1,700 new talent hired globally
• New clients - over 70 new clients signed

Ukraine

We stand with Ukraine.

Russia’s invasion of Ukraine, the defining event of 2022, had a profound impact on our business as we pledged our wholehearted support to the country and our colleagues there. We spent over $5M on direct assistance and continue to direct a share of our profits to Help Ukraine initiative. Due to our robust business continuity planning and agility, we experienced minimal interruption in the delivery of our services.

Geographical Expansion

In response to the war, DataArt helped relocate approximately 1,300 colleagues to offices in other markets, accelerated hiring in 14 countries, and consequently experienced minimal interruption in the delivery of services as a result. DataArt has expanded into six new countries, opened offices in nine new cities, hired over 1,700 new colleagues globally. The company plans further expansion in 2023.

Investing in Innovation & Partnerships

Over the course of 2022, we have continued to identify and invest in partnerships with major platform providers that align with our overall strategy and values, including AWS, Google, Microsoft, Stripe, Salesforce, BigCommerce, and commercetools, among others.

In the past year, we have achieved new specializations with some of our key partners:

Amazon Web Services (AWS)

• attained several new competencies that recognize DataArt as a proven expert in the planning and execution of the most complex and demanding projects: Travel & Hospitality Competency and Migration Competency (which is foundational to DataArt’s value proposition as a proven, strategic end-to-end cloud transformation consultancy).
• onboarded into the Well Architected Partner Program (WAPP).
• achieved Seller status on the AWS Marketplace.

Google Cloud Platform (GCP)

• added Retail & Wholesale expertise to other 16 GCP-approved designations across product and technology, workloads, and industries including Cloud Native Application Development, VM Migration, Google Cloud Databases, Google Cloud Analytics, Google Cloud Compute, and others.
• launched DataArt’s Landing Zones, built for the Google Cloud Platform and offering a readily available solution for enterprises, SMEs, and startups, which helps to save time by automating the set-up process and creating an environment for running secure and scalable workloads.

Microsoft

• got Microsoft investment support for ESM Solutions, which makes DataArt ECIF eligible.
• achieved Gold and Silver certificates across all Microsoft competencies: Gold Application Development, Gold Application Integration, Gold Cloud Platform, Gold Datacenter, Gold Windows and Devices, Gold Cloud Productivity, Gold Data Analytics, Gold Data Platform, Gold DevOps, Silver Collaboration & Content, Silver Messaging, Silver Security.
• became a Microsoft Solutions Partner at the beginning of 2023.

Socotra

• became one of 12 partners of Socotra, the modern core platform provider for innovative insurers.
• together with CAPE Analytics, jointly developed a risk assessment application available on Socotra App MarketPlace that provides insurers with modern software applications connected to the Socotra Policy Administration core platform.

Salesforce

• received new specializations in Experience Cloud and Service Cloud, and was the first industrial differentiator in Educational Institutes.
• upgraded the Sales Cloud expertise to Level 2.

Stripe

• reached the status of official consulting partner with Stripe.
• created a joint offering in the Travel & Hospitality and Digital Commerce verticals and scaled the relationship globally.

BigCommerce

• won the 2021 New Partner of the Year Award (AMER).
• achieved status as Preferred Partner.

commercetools

• gained four new certificates with a wide geographical coverage (US, UK, DACH).

+ Established new digital commerce partnerships with SANA, Sanity, Contentful, Contentstack, FluentCommerce.

Investing in People

In 2022, many teams underwent significant change and transformation that further facilitated a culture of innovation, open doors, and opportunities. Despite financial risks and tough business decisions, the company doubled down on investment in its people by:

• facilitating relocations and acquisitions and establishing a presence in a record number of countries in a single year
• investing in a Learning and Development department that created new opportunities for our engineers to grow, as well as investing in growing Centers of Excellence in the most demanding and quickly changing areas such as Cloud, AI&ML, and Data & Analytics
• developing partnership programs and creating mentorship teams around strong solution architects to promote cross industry and cross technological domain development and growth

Awards & Recognition

In 2022, DataArt received various accolades:

• 2022 Comparably Awards recognized DataArt for Best Company Outlook and Best Company to Work for in the New York Metro Area based on employee surveys.
• 2022 Inc. 5000 list, highlighting companies that have not only been successful, but have also demonstrated resilience amid labor shortages and the ongoing impact of COVID-19.
• Major Contender in Everest Group's Software Product Engineering Services PEAK Matrix Assessment 2022.
• Hype Cycle™ for Life Science Clinical Development, 2022 by Gartner, as well as Socotra's System Integration (SI) Partners in the 2022 Gartner® Market Guide™ for P&C Insurance Core Platforms, North America, and Market Guide™ for Life Policy Administration Systems, Americas.
• Forbes ranking: DataArt among the top 30 most resilient companies in Ukraine during the war.
• Brandon Hall Award - Category Future of Work: Best Advance in Corporate Wellbeing Technology.

About DataArt

DataArt is a global software engineering firm that takes a uniquely human approach to solving problems. With over 25 years of experience, teams of highly trained engineers around the world, and deep industry sector knowledge, we deliver high-value, high-quality solutions that our clients depend on, and lifetime partnerships they believe in.

Headquartered in New York City, DataArt now employs over 6,000 professionals in 20+ locations throughout the US, Europe, Middle East and Latin America, with clients including major global brands like Unilever, Priceline, Ocado, Flutter Entertainment, among others.

For more information, please visit www.dataart.com