99x Company Profile

Background

99x is a technology company specializing in co-creating innovative digital products for the Scandinavian market. Established in 2000, the company has developed over 150 impactful global digital products in collaboration with leading Independent Software Vendors (ISVs). With a team of over 600 technology and product specialists, 99x operates across multiple countries, including Sri Lanka, Norway, Portugal, Brazil, and Malaysia. The company is recognized as one of Asia's Best Workplaces and has been named a Best Workplace in Sri Lanka for ten consecutive years.

Key Strategic Focus

99x's strategic focus centers on delivering high-quality software product engineering services, mobile enablement, user experience design, product quality automation, and lean startup-as-a-service. The company leverages its global presence to provide nearshore outsourcing solutions to European and American companies, offering tech teams and developers tailored to client needs. By combining local presence with global access to talent, 99x aims to deliver value through multinational teams.

Financials and Funding

In August 2021, 99x underwent a capital restructuring program, raising $20 million in a private equity round. Investors in this round included Driv Kapital and Watrium AS. The capital raised is intended to support the company's growth initiatives and expansion plans.

Pipeline Development

99x has a diverse portfolio of digital products developed in collaboration with leading ISVs. While specific details about pipeline candidates and development stages are not publicly disclosed, the company's focus on co-creating innovative digital products indicates a continuous commitment to product development and enhancement.

Technological Platform and Innovation

99x employs a range of technologies to deliver its services, including HTML5, Office 365, and Lead Flows. The company is also actively using technologies such as SPF, DMARC, and Global Site Tag for its website infrastructure. These technologies enable 99x to provide comprehensive digital solutions, including web development, CRM and ERP integrations, and e-commerce solutions, incorporating AI processes.

Leadership Team

The leadership team at 99x comprises experienced professionals:

Odd Sverre Østlie: Group CEO, 99x.

Trygve Moe: Group CFO, 99x.

Hasith Yaggahavita: CEO, 99x Product Engineering.

Carlos Coutinho Silva: EVP 99x Europe & CEO 99x Tech Portugal.

Thiers Santos: EVP, 99x Americas.

Eiliv Mæhle Liljevik: EVP 99x Nordics & CEO Digital Solutions AS.

These leaders bring a wealth of experience and strategic vision to guide 99x's operations and growth.

Market Insights and Competitor Analysis

The digital product engineering industry is characterized by rapid technological advancements and a growing demand for innovative solutions. Companies like 99x are well-positioned to capitalize on these trends by leveraging their expertise in software development and product engineering.

99x faces competition from various companies in the digital product engineering and IT services sectors. Notable competitors include:

CITI: A provider of digital transformation consulting services.

Vodori: A digital marketing and technology company.

Strategy Big Data: A company offering digital transformation services.

eXrade: A developer of cloud-based productivity tools for the enterprise and mobile market.

These competitors offer a range of services that overlap with 99x's offerings, contributing to a dynamic and competitive market landscape.

Strategic Collaborations and Partnerships

99x has established strategic collaborations and partnerships to enhance its market position and innovation capacity. The company's global presence, with offices in Norway, Sri Lanka, Malaysia, Brazil, and Portugal, enables it to serve clients across Europe and North America effectively. This international footprint allows 99x to leverage diverse talent pools and deliver tailored solutions to meet client needs.

Operational Insights

99x's operational strategy focuses on combining local presence with global access to talent, enabling the company to deliver value through multinational teams. This approach allows 99x to be agile locally while working towards significant global goals, providing clients with high-quality digital solutions.

Strategic Opportunities and Future Directions

Looking ahead, 99x aims to expand its global footprint and continue delivering innovative digital products. The company's focus on co-creating products with leading ISVs positions it to capitalize on emerging market opportunities and technological advancements. By leveraging its expertise and global presence, 99x is well-positioned to achieve its future objectives and drive growth in the digital product engineering sector.