Aiforia’s growth strategy is built on two distinct pillars. First, continuous development of its products and solutions portfolio. Second, strengthening the market leading position by growing sales in both US and Europe. Aiforia envisions being the global leader in AI-powered pathology image analysis.
Investing in innovation
One of Aiforia’s mid-term business targets is creating a product offering that covers 80% of the pathologist’s diagnostic workflow. Aiforia aims to achieve this target by building a comprehensive portfolio of AI models and supporting software solutions for the clinical diagnostics market.
Aiforia also constantly develops new features and applications for the preclinical research market.
By continuing to invest in R&D and innovation, Aiforia aims to keep the existing products ahead of competition. Aiforia also aims to utilise market knowledge and customer feedback to improve the existing products and services and develop new products and services that meet our customers’ needs.
To achieve the growth targets listed below, Aiforia recruited new salesforce in 2022 and deepened its sales collaboration with Epredia. Aiforia intends to form new partnerships, with for example scanner manufacturers and workflow management system providers as well as building relationships with system integration and cloud service partners.
Aiforia aims to acquire new business with early adopters of digital pathology to pave the way for others to follow. Aiforia's "land and expand" -tactic has proven to be successful. Once customers are happy with one AI model they are eager to expand the use of AI in their laboratories.
Aiforia’s sales team is working closely together with our inhouse leading deep learning AI, software development and pathology experts. Deep holistic understanding of customers’ needs and commitment to serve the customers’ objectives as an IT-partner form the base for the best possible customer experience in the digital pathology market.
Aiforia does not publish short-term outlooks or financial targets. However, the company has set short- and medium-term business targets at the time of the IPO.
Aiforia’s short-term business targets 2021–2023:
Obtain a CE-IVD marking for 6 AI models intended for clinical diagnostics
Acquire five customers in clinical diagnostics
Acquire ten large customers in the pharmaceutical industry
Reach more than 5,000 users
Aiforia’s mid-term business targets by 2030:
Create a product offering that covers 80% of the pathologist’s diagnostic workflow
Achieve a positive cash flow from operating activities by the end of 2025
Achieve revenue of more than EUR 100 million
Reach 20,000 users
Achieve 50 key customer relationships that would generate an annual recurring revenue of at least EUR 250,000 per customer.