TrademarkNow Records Year over Year Global Revenue Growth of 416% in 2015 Legal Technology Company’s Strong 2015 Performance Included Stellar Growth Of U.S. Client Base
Helsinki, Finland – December 17, 2015 – TrademarkNow®, a Helsinki-based legal technology company, today announced that the company recorded growth of 416% in year-over-year global revenue. The revenue growth in 2015 was driven by significant expansion of the company’s global client base throughout the year. The company’s European client base continued to grow substantially, the company secured its first clients in the Asia-Pacific region and TrademarkNow’s U.S. client base grew by 775% for the year.
While the TrademarkNow client base is comprised of a broad spectrum of industries, the top four industry verticals represented are pharma, legal services, technology and advertising. TrademarkNow’s rapidly growing client roster includes new clients signed in 2015 such as FutureBrand, Iovate Health Sciences, Kohl’s, Noerr Alicante IP, Summit Racing Equipment and Tencent Holdings Ltd.
TrademarkNow was founded on the idea of applying machine learning, advanced algorithms and artificial intelligence to the manual efforts related to trademark clearing to increase process efficiency and effectiveness. TrademarkNow’s SaaS product provides an intelligent web-based trademark management platform that is used by in-house legal teams, law firms and branding agencies for instant trademark search and watch results. Sold via an annual subscription, TrademarkNow’s annual recurring revenue (AAR) in 2015 was 56% from Europe, 41% from the U.S., and 3% from Asia.
“In 2015, we managed TrademarkNow with aggressive stretch goals to expand the number of clients globally using our platform, and we’re very excited by the company’s growth. We’ve worked hard to build a platform that streamlines a very messy and manual process that trademark professionals deal with on a daily basis - clearing and protecting trademarks. We’ve used artificial intelligence and machine learning in unique and novel ways to provide instant, comprehensive trademark search reports and trademark intelligence to busy trademark professionals. The market is recognizing the value of TrademarkNow, and it shows in the dramatic increase in our client base,” said Mikael Kolehmainen, TrademarkNow co-founder and CEO. “Our plans for 2016 are equally aggressive - continued client growth, a robust product map and further refinement of the algorithms and technology that drive our platform.”
In 2015, TrademarkNow also expanded the common law search component of NameCheck™, its trademark search product, in response to demand from the U.S. market. Since 90% of U.S. trademarks are not registered with the U.S. government, reviewing common law risk is a critical part of the trademark clearing process. NameCheck’s common law search capabilities now includes 30 million U.S. company names and related information. This year TrademarkNow also expanded its common law search to include music artist, album, song, video, TV episode and App content from Apple's iTunes, as well as information from other digital marketplaces and app stores.
The company’s growth in 2015 included an expansion of its physical offices. In March, TrademarkNow opened an office in Kilkenny, Ireland to house the company’s outbound/inbound sales team. The Kilkenny office is now home to 10 TrademarkNow employees, and last month the office won the 2015 Glanbia Kilkenny Business Award for "Information & Communications Technology.” The company’s U.S. staff also moved into a new, larger New York City office last month in the heart of Silicon Alley on East 28th Street.
TrademarkNow’s success to date was recognized in 2015 when the company won the Gold Stevie Award in the Company of the Year - Legal category in the 12th Annual International Business Awards. In addition, two of TrademarkNow’s management team were appointed to committees of the International Trademark Association (INTA). Anna Ronkainen, co-founder and Chief Scientist was appointed to the Bulletins Committee, and Charles Hill, Head of Product, was appointed to the Internet committee. Ronkainen, a university lecturer and noted expert on artificial intelligence, was also appointed to the Executive Committee of International Association of Artificial Intelligence and Law (IAAIL).
TrademarkNow, winner of the 2015 Gold Stevie® Award for Company of the Year – Legal, provides an intelligent, web-based trademark management platform that is used by in-house legal teams, law firms and branding agencies for instant trademark search and watch results. At its core is a unique artificial intelligence engine based on both explicit and intricate domain models of trademark law. Created by experts in trademark law and linguistics, our cutting-edge system also utilizes state-of-the-art machine-learning techniques to produce models that seamlessly take real-world complexities into account. While the underlying intelligence is complex, the platform’s intuitive design and simple user interface make it very easy to use. The result: faster, smarter trademark search, watch and analysis.