Factbird Surpasses €5 million in ARR as it Transitions to Scale-up

May 2024, COPENHAGEN, DENMARK--Factbird, a leading provider of powerful, plug-and-play Manufacturing Intelligence (MI) solutions, today announced it has reached a major milestone, surpassing five million euros in annual recurring revenue (ARR) and officially entering its scale-up phase. This significant growth underscores Factbird’s increasing impact in the manufacturing intelligence sector.

During a pivotal two-year transformation period, Factbird evolved from a spin-off of Emendo Consulting Group into a standalone entity, growing from 12 to 62 employees and achieving a 340% increase in ARR. A $16 million investment from Expedition Growth Capital and EIFO, which aims to accelerate global growth and innovation in manufacturing intelligence solutions, has further bolstered these accomplishments.

In line with this remarkable growth, Factbird has appointed Søren Schønnemann, previously the Chief Commercial Officer, as its first Chief Executive Officer (CEO). Søren has been instrumental in driving Factbird’s market strategy and will continue to guide the company through its next stages of development.

David Olsson, Principal at Expedition Growth Capital, commented, “We are incredibly impressed by what Factbird has achieved to date. Our shared ambition is for Factbird to scale up to €20 million ARR and beyond in the coming few years, potentially pursue acquisitions, grow the team both in Copenhagen and internationally, and much more.”

Factbird’s innovative solutions have helped over 300 companies reduce waste and increase productivity across various manufacturing verticals, including food and beverage, packaging, and pharmaceuticals. The company is poised to navigate the ongoing shifts in the manufacturing industry, driven by digitization, changing consumer demands, an ageing workforce, supply chain disruptions, and cybersecurity challenges.

Søren Schønnemann, reflecting on his new role and the company’s trajectory, emphasized, “Our focus remains stead fast on empowering manufacturers with real-time data to drive continuous improvement and substantial growth. I am excited about our journey as we scale our operations and ramp up hiring and product development to deliver more value to existing customers.”

Factbird continues to stand at the forefront of the manufacturing intelligence space, driving significant advancements in operational efficiency and productivity for its clients.

Watch the 5M ARR milestone video

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Press contact

Amalie Malling
Head of Communications & Marketing
+45 21 78 75 56
amd@factbird.com

About Factbird

Factbird is a pioneering provider of Manufacturing Intelligence solutions. With a focus on real-time data collection and analysis, Factbird empowers companies to optimize operations, reduce downtime, and boost productivity.