Termene.ro, the business intelligence platform from Romania, which integrates data analyzed with the help of artificial intelligence about companies, recorded a turnover of 1.2 million euros (6 million lei) in the first half of 2023, up to 37% compared to the same period last year.
“The year 2023 started with a lot of dynamism for Termene.ro, with a new strategy focused on development, on improving performance, but also on expanding the business in the future. We are glad that the results did not take long to appear following these business decisions and prove to us that we are in the right direction. At the same time, the prospects of the entire industry in which we operate are optimistic, registering a growth trend. We estimate that at the end of the year, the entire sector will have a cumulative growth of at least 20% – 30%”, stated Ioana Constantin, CEO of Termene.ro.
The company’s results confirm the new development strategy adopted at the end of last year, which included the appointment of a new management team of Termene.ro.
Thus, at the beginning of the year, Ioana Constantin came to manage Termene.ro and joined the management team formed by Gina Petre, Deputy CEO, and Alexandru Mărăcineanu, CTO, coordinated by a Board of Advisors, ensuring efficient corporate governance and optimal coordination of the company’s activity.
At the same time, after three years of research in the field of artificial intelligence, in April, the company launched the new platform Termene_AI_360 through which today it manages to automatically analyze data about companies with the help of technologies based on artificial intelligence and machine learning.
Thus, Termene.ro manages to diversify its services offered to its customers and increase its productivity.
“Termene.ro platform was improved with the results of machine learning algorithms and the natural language processing (NLP) model in Romanian, which the company’s specialists trained by annotating over 80,000 documents. With the help of this technology, the platform can today identify in any kind of document in the Romanian language entities, persons, firms, addresses, qualities of persons or firms, and the relationship between them, which we can later store in the structured database. This allows us, for example, to identify in 8 million documents, in how many of them appear a certain entity – person or company – or what other entities appear in the same documents, and what is the relationship between them”, added Ioana Constantin.
The value of the project amounted to 21 million lei, being co-financed from the European Regional Development Fund and from funds from the state budget through the Competitiveness Operational Program 2014-2020. Of the total value of the project, about 16 million lei represent non-refundable funds
The company continues its development plans, and after the acquisition in February of the innovative start-up specialized in generating credit reports for companies, Confidas, Termene.ro is already in discussions with two other companies in the industries, with synergies close to its business model. The company aims to complete at least two more transactions by the end of the year.
Termene.ro estimates that by the end of the year, it will reach a turnover of 3 million euros and a number of companies registered on the platform over 200,000.
