Patsnap Surpasses US$100 Million in Annual Recurring Revenue, Reinforces Position as a Global Leader in IP and R&D Intelligence [Yahoo! Finance]
Dow Inc. (DOW)
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Source: Yahoo! Finance
it has reached a significant milestone of achieving US$100 million in Annual Recurring Revenue (ARR), with 20% year-over-year growth in 2023. Today, over 12,000 IP and R&D teams across 50 countries use Patsnap's AI-powered platform to improve efficiency, productivity, and collaboration. As a leader in the global IP and R&D intelligence market, Patsnap continues to grow by expanding its suite of services. These offerings now include AI tools for patent drafting, claims charting, and freedom to operate searches. Additionally, it also provides solutions designed to accelerate discovery and enhance collaboration in the life sciences and materials sciences sectors. The company's strong focus on AI has been a key driver of its growth, coupled with its expanded offerings covering more use cases along the R&D value chain, which drive even greater market expansion. R&D as a functional unit within an enterprise has immense potential for applying AI, particularly in the discovery phase, wh
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