NowVertical reaches $1M revenue milestone with UK client in six months

NowVertical Group Inc. (TSXV: NOW) reported that a UK-based strategic account has generated over $1 million in contracted revenue within six months of engagement, according to a company statement.

The Toronto-based data and analytics company said the UK client, described as a global leader in financial and market intelligence, is participating in a data modernization program to unify commercial and finance data systems. The engagement represents the fastest account scale-up since NowVertical launched its Strategic Account Program.

NowVertical's Strategic Account Program generated $37.3 million in revenue over the past 18 months, the company reported. Eight separate strategic accounts delivered more than $1 million in revenue during 2024, compared to three accounts in 2023. Strategic accounts now represent 70% of first-half total revenue, up from less than 45% before the program's launch.

The company selects strategic accounts based on enterprise scale, typically targeting multi-billion-dollar revenue companies with international reach, and transformation appetite for data modernization and AI capabilities. Several strategic accounts have exceeded $5 million in lifetime value, with one surpassing $25 million.

"When we focus on enterprise clients with scale and the appetite to transform, we're able to embed quickly, expand deliberately, and compete successfully against global incumbents," said Sandeep Mendiratta, CEO of NowVertical.

The company differentiates itself by specializing in customer, operational, and finance data while prioritizing outcome-based delivery and embedding lean, high-impact teams, according to the statement.

NowVertical plans to continue growing market share within existing strategic accounts through cross-sell and upsell initiatives while expanding the number of strategic accounts through partnership and direct channel initiatives.

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