ITV

Category: Software

  • Truecaller’s Q4 sales jump 23 per cent, India leads with SEK 371.9 million

    Truecaller’s Q4 sales jump 23 per cent, India leads with SEK 371.9 million

    MUMBAI: Truecaller has delivered another year of solid revenue growth and increased user engagement, but the financial results for Q4 and FY2024 also highlight key challenges, including margin compression, rising costs, and a more competitive advertising landscape. The Swedish tech firm’s continued expansion into business solutions, premium subscriptions, and its core advertising business reflects a strategic focus on diversified revenue streams.

    Truecaller closed Q4 2024 with a 23 per cent year-over-year (YoY) increase in net sales, reaching SEK 522.8 million compared to SEK 424.7 million in Q4 2023. The company reported an EBITDA of SEK 201.1 million, up 19 per cent, but its EBITDA margin dipped slightly to 38.5 per cent from 39.7 per cent. Profit after tax stood at SEK 150.4 million, reflecting a 29 per cent YoY increase. Basic earnings per share (EPS) rose to SEK 0.44 from SEK 0.33, highlighting strong per-share earnings growth.

    Regionally, India remained the company’s largest market, contributing SEK 371.9 million in Q4 sales, an increase of 20 per cent YoY. Meanwhile, the middle east & Africa (MEA) grew by an impressive 43 per cent to SEK 76.0 million, and the rest of the world (RoW) segment climbed 24 per cent to SEK 74.9 million. This broad-based growth underscores Truecaller’s ability to scale its services across diverse geographies.

    Full-year 2024 performance

    For FY2024, Truecaller’s net sales increased eight per cent to SEK 1,863.2 million, compared to SEK 1,728.9 million in 2023. However, EBITDA declined to SEK 684.2 million from SEK 702.9 million, reflecting a lower 36.7 per cent EBITDA margin, compared to 40.7 per cent in 2023. Profit after tax fell slightly to SEK 524.3 million from SEK 536.3 million, indicating pressure on the bottom line despite strong topline growth.

    Geographically, Truecaller’s India segment delivered SEK 1,350.0 million in sales, marking a three per cent YoY growth, while the middle east & Africa segment surged 22 per cent to SEK 254.3 million, and the rest of the world segment expanded 23 per cent to SEK 258.9 million.

    Segment-wise performance

    1.    Advertising revenue:

    ●        Truecaller’s ad revenues in Q4 grew 17 per cent to SEK 372.0 million, but ad CPMs declined by approximately 25 per cent, particularly in India.

    ●        Total ad impressions surged 57 per cent YoY, indicating higher engagement and monetisation improvements.

    ●        MEA led ad revenue growth, while India saw a softer uptick due to increased ad supply.

    2.    Premium subscription revenue:

    ●        Q4 subscription revenue jumped 39 per cent YoY to SEK 77.7 million.

    ●        The number of premium subscribers increased to 2.58 million, a 22 per cent YoY rise.

    ●        Premium revenue saw the highest growth in the Rest of the World segment, reflecting strong international adoption.

    3.    Truecaller for Business (TfB):

    ●        Q4 TfB revenue soared 45 per cent YoY to SEK 71.9 million.

    ●        The Verified Business (VB) platform grew its annual recurring revenue (ARR) by over 50 per cent to SEK 234 million.

    ●        Business Messaging volumes increased 80 per cent YoY, with 4.9 billion messages sent.

    Profitability & cost trends

    ●    Gross profit rose 25 per cent to SEK 403.0 million in Q4, with a gross margin of 77.1 per cent.

    ●    Staff costs increased to SEK 120.2 million in Q4, driven by higher share-based compensation and new hiring.

    ●    Marketing and growth investments intensified, leading to increased customer acquisition costs, particularly in key international markets.

    ●    Truecaller repurchased 0.6 million B-shares as part of its ongoing share buyback program.

    Key Developments in FY2024

    ●    Truecaller appointed Rishit Jhunjhunwala as its new CEO in January 2025, signaling a leadership transition aimed at accelerating growth.

    ●    The company launched its biggest-ever iPhone update, closing the gap between Android and iOS user experiences.

    ●    Expansion into AI-powered fraud detection and business messaging presents a significant long-term revenue opportunity.

    ●    Truecaller remains focused on enhancing user engagement, monetisation, and premium subscription adoption.

    Commenting on Truecaller’s long-term vision, CEO Rishit Jhunjhunwala stated, “Our conviction is that Truecaller has a much larger role to play in the growing field of mobile communication, including safeguarding people and businesses from the globally growing threat of digital scams and fraud.”

    Truecaller has demonstrated impressive revenue expansion and user growth, particularly in emerging markets. However, margin compression, rising operating costs, and a shifting ad landscape present challenges. While premium subscriptions and business solutions provide promising diversification, Truecaller will need to balance growth with profitability in the coming quarters. 

  • Gemini AI now remembers chats, offers smarter replies

    Gemini AI now remembers chats, offers smarter replies

    MUMBAI: Google has introduced a new memory feature for its Gemini AI chatbot, enabling it to recall past conversations and provide more context-aware responses.

    Previously, Gemini could only remember user preferences upon request. With its expanded memory, the chatbot can now review entire conversations, answer follow-up questions, and summarise past discussions. This allows users to continue chats seamlessly without searching through old messages.

    Google assures users that they have full control over their stored data. Users can review, delete, or set a retention period for their chat history. The memory feature can also be fully disabled via the settings menu by turning off Gemini apps activity.

    Testing of the feature showed that Gemini effectively retrieved and consolidated information from multiple past chats. A ‘Source and related content’ section is also included, citing previous conversations. However, this functionality is currently limited to fully released models such as Gemini 2.0 flash and 1.5 pro, excluding experimental versions.

  • Clevertap earns spot in Gartner Quadrant for AI-powered personalisation

    Clevertap earns spot in Gartner Quadrant for AI-powered personalisation

    MUMBAI : Clevertap, the all-in-one customer engagement platform, has earned a spot in the latest Gartner Magic Quadrant for personalisation engines as a niche player. Recognised for its completeness of vision and ability to execute, the company continues to push boundaries in AI-driven personalisation, helping brands craft more meaningful and data-driven customer experiences.

    Clevertap’s personalisation suite offers an AI-powered approach to customer engagement, integrating a customer data platform (CDP), analytics, experimentation, and orchestration across key digital touchpoints. The company claims its solutions improve conversion rates by up to seven times, allowing brands across industries such as finance, retail, and entertainment—to deliver meaningful, tailored experiences.

    Clevertap co-founder & chief product officer Anand Jain commented, “Being included in the Gartner Magic Quadrant for personalisation engines is a proud milestone. We believe this recognition validates our commitment to innovation, particularly through our AI-powered features like auto-routing journeys (IntelliNode) and emotionally intelligent messaging (Scribe). Our mission remains to help brands scale engagement across channels while driving measurable growth.”

    The Magic Quadrant evaluates industry providers across four categories: Leaders, challengers, visionaries, and niche players, offering insights into a rapidly evolving market.  

  • Vidhu Aul joins Responsible AI UK as partnerships manager

    Vidhu Aul joins Responsible AI UK as partnerships manager

    MUMBAI:  Vidhu Aul has been appointed partnerships manager at Responsible AI UK, where she will contribute to advancing ethical AI development, evaluation, and governance through strategic research-led initiatives.

    Aul brings over 15 years of diverse experience spanning communications, partnerships, community outreach, content creation, sustainability, and stakeholder engagement. Her impressive career journey includes roles at leading organisations such as Watatawa, NVPC, Edelman, BBC, and Bennett Coleman & Co. Ltd. (The Times of India).

    During her five-year tenure at the BBC, she played a pivotal role in driving media partnerships and outreach initiatives for the dynamic South Asian market. She also led a global presenter publicity and brand positioning project during a secondment to BBC’s London headquarters, enhancing the broadcaster’s visibility in India.

    Aul’s independent consulting work further includes collaborations with Ogilvy Singapore, United Way Mumbai, CNN Create, and FSG. Her contributions extend to volunteer work with Futerra, UN Women Singapore, and the Singapore Tourism Board.

    Beyond communications, Aul has explored the transformative potential of AI for small and medium enterprises, focusing on enhancing product development and profitability. Her passion for digital innovation aligns with her recent certification in applied generative AI for digital transformation from MIT and SEO/SEM strategies from the London Business School.

    A passionate traveller, Aul has authored travel features for CNN, The Straits Times, Conde Nast Traveler, India Today, and other prestigious publications across Asia.

    Aul holds a double major in psychology and anthropology from St Xavier’s College, Mumbai, along with a postgraduate diploma in social communication media. She is currently pursuing a part-time master’s degree in digital culture and society at King’s College London, set to conclude in 2026.

    Her appointment at Responsible AI UK marks a significant step as the organisation strengthens its mission to harness AI for ethical and responsible solutions.

  • Zixi strengthens commercial leadership with key recruitments

    Zixi strengthens commercial leadership with key recruitments

    MUMBAI:  IP-based live video transport and observability software provider Zixi has bolstered its leadership team with the appointment of Josh Wiggins as chief commercial officer and Kris Alexander as vice president of product and industry marketing.

    These strategic hires come as Zixi continues to expand its market footprint and drive innovation in next-generation video contribution and distribution.

    Wiggins, a seasoned industry veteran with over 25 years of experience, has held senior roles at AWS, ThinkAnalytics, GrayMeta, and Deluxe. In his new position, he will oversee Zixi’s business development, sales strategy, and partnerships, helping customers and partners maximise operational efficiency and revenue potential through the company’s cutting-edge technology.

    Alexander, who has held key roles at AWS and Akamai Technologies, brings extensive expertise in product strategy and marketing. He will lead Zixi’s efforts in product positioning, customer education, and market messaging, helping media organisations adopt IP-based live video solutions.

    “Josh and Kris bring a wealth of experience and insight to Zixi,” said Zixi CEO Marc Aldrich. “Their leadership will be vital as we continue to deliver innovative solutions and help customers navigate the shifting landscape of live video distribution.”

    As media organisations increasingly transition to cloud-based content delivery and hybrid distribution models, Zixi’s Emmy-winning software enables ultra-low latency, reliable IP video transport, reducing costs while maintaining superior video quality.

    Wiggins commented, “Zixi is transforming IP-based live video transport. I look forward to driving growth and enabling our partners to unlock new opportunities.”

    Alexander added, “The media landscape is evolving rapidly, and Zixi is at the forefront of this change. I’m excited to help showcase how our customers are revolutionising their workflows using Zixi’s solutions.”

    Zixi will present its latest innovations at NAB Show 2025, demonstrating scalable, cost-effective live content distribution solutions.

  • Raymond Yeung appointed as SMPTE standards vice president

    Raymond Yeung appointed as SMPTE standards vice president

    MUMBAI: The Society of Motion Picture & Television Engineers (SMPTE) has appointed Raymond Yeung as its new vice-president of standards, effective 1 January 2025.

    Yeung, head of content standards at Amazon MGM Studios Technology, brings extensive expertise in digital visual effects, film mastering, and media supply chain advancements. Previously involved in HDR imaging development at Dolby Laboratories, he is a SMPTE life fellow and a member of the Academy of Motion Picture Arts and Sciences.

    “I am honoured to take on this role,” said Yeung. “Leading SMPTE’s renowned standards development efforts is a responsibility I approach with great dedication. I aim to foster continued innovation within the standards community.”

    SMPTE president Richard Welsh welcomed the appointment, noting, “Raymond’s extensive experience and respected reputation within the industry make him an invaluable asset. I look forward to working together to advance SMPTE’s leadership in media technology standards.”

  • ElevenLabs secures $180 million to make AI voices the gold standard of digital speech

    ElevenLabs secures $180 million to make AI voices the gold standard of digital speech

    MUMBAI: The future of digital interaction just got a whole lot smoother—and way less robotic! AI audio pioneer ElevenLabs has secured a blockbuster $180 million in Series C funding, proving once again that the future of communication isn’t just about typing but talking.

    Co-founded in 2022 by childhood friends Piotr Dąbkowski and Mati Staniszewski, this Poland-born startup is on a mission to make AI voices sound less like a dull GPS and more like your most charismatic friend spilling the latest gossip. With its tech already powering AI assistants, media giants, and even voice actors, ElevenLabs is set to redefine how the world hears AI.

    The funding round was co-led by a16z and Iconiq Growth, with fresh backing from NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund, and Lunate. ElevenLabs’ existing heavy-hitter investors—Sequoia Capital, Salesforce Ventures, and Smash Capital—doubled down on their bets. Oh, and let’s not forget the industry giants joining the party, including Deutsche Telekom, LG Technology Ventures, HubSpot Ventures, and NTT DOCOMO Ventures. The latest round sends ElevenLabs’ valuation skyrocketing to $3.3 billion—triple what it was a year ago. Not bad for a company that launched just two years ago!

    ElevenLabs has come a long way since debuting in January 2023. The company has spent the past two years refining its AI models, releasing game-changing products, and making digital speech more expressive and lifelike. And the results? Users have already generated over 1,000 years’ worth of AI-generated audio—a number that speaks volumes (literally).

    Among its biggest innovations:

    . Conversational AI: No more robotic call centres—this tool powers real-time, natural speech for AI agents.

    .  Voice design: Need a custom AI voice? Generate one from text descriptions.

    .  Sound effects model: AI-generated sound effects bring immersive audio storytelling to the next level.

    .  ElevenReader app: Turns ebooks, PDFs, and articles into listenable content on-the-go.

    .  Flash model: The speed demon of AI voice tech, boasting an ultra-fast 75ms latency.

    .  Voice library payouts: A marketplace where voice actors and users have already earned $2M for their AI-generated voices.

    .  Dubbing studio: Supports 32 languages, making global content sound local while preserving original voices.

    Who’s using ElevenLabs? Pretty much everyone. From big-name tech firms to media giants, ElevenLabs is the industry’s AI voice darling. Its solutions are trusted by Nvidia, Perplexity, Synthesia, Espn, Aston Martin F1, The Washington Post, Chess.com, Time, and HarperCollins, to name a few. More impressively, over 60 per cent of Fortune 500 companies have employees using ElevenLabs tools. That’s some serious corporate clout.

    ElevenLabs isn’t just about high-tech innovation; it’s also changing lives. Through its ‘Impact Program’, the company has partnered with 80+ organisations to bring AI voices to individuals with speech impairments. The result? Over 1,000 people with ALS and other conditions have regained their voices. And in the cultural space, ElevenLabs has helped bring AI-generated plays to life at Centre Pompidou in Paris.

    The company is also going global—literally. ElevenLabs has expanded into Poland and India, setting up an R&D hub in Warsaw and investing in Indic language development. Expect an even stronger focus on regional accents, dialects, and personalised AI speech in the near future.

    The company isn’t stopping at just making AI voices sound human—it wants to fundamentally redefine digital speech. CTO Dąbkowski, recently named a Time Magazine AI Top 100 Innovator, is leading research to push AI-generated audio into new frontiers. With its team growing from 30 to 120 employees and hubs in London, New York, and Warsaw, ElevenLabs is set to build the most comprehensive AI audio platform in the world.

    The fresh $180 million investment will go towards:

    .  Expanding AI research into more expressive, nuanced, and controllable voice models.

    .   Developing new tools for businesses, creators, and developers.

    .  Strengthening AI safety, ensuring ethical and responsible deployment of AI-generated voices.

    .  Bringing AI voice tech to mobile, making audio AI more accessible.

    .   Supporting all languages, accents, and dialects—because AI should sound like everyone, not just an English-speaking robot.

    “Speech is how we naturally communicate. This funding moves us closer to a world where digital interactions happen by voice—fluid, natural, and as effortless as a conversation,” said CEO Staniszewski.

    “Voice is becoming a key part of how we interact with technology, and ElevenLabs is making it work at scale. We’re thrilled to continue to support their work in building the next generation of AI,” said a16z general partner & head of growth fund, David George.

    “We believe ElevenLabs is redefining the way we connect with digital environments, placing voice at the very heart of these transformative interactions. We are thrilled to partner with such an innovative team and contribute to their extraordinary journey to help reshape the future of voice technology,” said Iconiq Growth general partner Seth Pierrepont.

    As AI-generated speech continues to evolve, one thing is clear: the keyboard is no longer king—the mic is taking over. Thanks to ElevenLabs, digital conversations are stepping out of the uncanny valley and into a world where AI doesn’t just talk—it converses, charms, and maybe even tells better jokes than your best friend.

  • Richard Welsh Elected President of SMPTE

    Richard Welsh Elected President of SMPTE

    MUMBAI: The Society of Motion Picture & Television Engineers (SMPTE) earlier this week  announced the election of Richard Welsh as its new president, taking office on 1 January 2025. Welsh, who previously served as SMPTE’s executive vice president, will lead the organisation for a two-year term, concluding on 31 December  2026.

    “I am honored to have been elected SMPTE president and look forward to collaborating with the SMPTE community globally to advance our industry,” Welsh stated. He highlighted  that for over a century, SMPTE’s mission has been to bring moving images to audiences worldwide. Given the proliferation of video devices and on-demand content, Welsh believes the Society’s commitment to ensuring high-quality media experiences is more crucial than ever.

    As the current senior vice president of innovation at Deluxe, Welsh brings over a decade of experience on the SMPTE board, including roles as vice president of education and governor for EMEA and central/south America. He is also a board member of IBC and co-founder of Volustor, a volumetric asset management company.

    Welsh began his illustrious career at Dolby Laboratories, ultimately rising to director of digital cinema services. He also led operations for Technicolor’s digital cinema and localisation services and currently serves as an associate lecturer at Southampton Solent University while co-founding Sundog Media Toolkit

    SMPTE executive director Sally-Ann D’Amato praised Welsh as an “innovative thinker with bold plans for the future.” 

    She highlighted his commitment to expanding the organisation’s reach to diverse audiences and fostering early-career professionals, expressing eagerness to collaborate on turning his vision into reality.

  • Nemetschek group expands executive board with global tech leader Usman Shuja

    Nemetschek group expands executive board with global tech leader Usman Shuja

    MUMBAI:  Global software provider for the construction and media  (under the Maxon umbrella) industries, the Nemetschek group,  today announced the appointment of Usman Shuja to its executive board, effective 1 January 2025.

    Shuja, who was previously the chief division officer (CDO) of the build & construct division and CEO of Bluebeam, becomes the third member of the executive board, joining CEO Yves Padrines and CFO Louise Öfverström.

    Shuja, an accomplished technology leader with extensive experience driving operational excellence in high-growth companies, was unanimously appointed by the supervisory board. Since joining the Nemetschek group in September 2023, he has successfully implemented key strategic priorities, including the subscription transition of Bluebeam and the acquisition of GoCanvas, a leading SaaS provider of field worker collaboration software.

    Said Padrines:  “Shuja  brings extensive industry expertise and a deep understanding of how companies innovate and evolve to better serve their customers.”

    Added Shuja: “We have a tremendous opportunity to drive innovation, advance the industry, and deliver exceptional value to our customers and partners.”

    The Nemetschek group is a globally leading provider of software for digital transformation in the architectural engineering and construction (AEC/O) and media industries. Its intelligent software solutions cover the entire lifecycle of construction and infrastructure projects, allowing customers to plan, construct, and manage buildings and infrastructure more efficiently and sustainably.  

    Maxon, which is part of the group,  makes powerful, yet approachable software solutions for content creators working in 2D and 3D design, motion graphics, visual effects and visualisation. Among the products targeted at media and entertainment industry are:  Cinema 4D suite of 3D modeling, simulation and animation technology; the creativity-on-the-go Forger mobile sculpting app; the diverse Red Giant lineup of revolutionary editing, motion design and filmmaking tools; the leading-edge, blazingly fast Redshift renderer; and ZBrush, the industry-standard digital sculpting and painting solution.

  • Saraswathi Ramachandra joins Lightcast as managing director, India head

    Saraswathi Ramachandra joins Lightcast as managing director, India head

    MUMBAI:  Saraswathi Ramachandra has been appointed as the managing director & country head of Lightcast, marking a new chapter in her distinguished 25-year career in IT and data analytics. With a profound commitment to innovation and team building, Ramachandra sees her role as an opportunity to develop a world-class global capability center (GCC) that fosters collaboration and strategic decision-making.

    “Lightcast’s vision to establish a robust GCC aligns perfectly with my passion for innovation and talent development,” Ramachandra said. She aims to create an environment that not only supports global operations but also drives sustainable growth by leveraging Lightcast’s unique position in data, insights, and technology.

    In her previous role as director at Citi, Ramachandra led initiatives focusing on risk and fraud analytics while managing an innovation lab. She has a proven track record of building high-performing teams and enhancing operational efficiency across various organizations, including Danske IT, Cisco, and Accenture.

    Her academic credentials include a master’s degree in computer software engineering from the Birla Institute of Technology and Science, with additional executive education from Yale University in decision-making. Ramachandra’s extensive experience in setting up GCCs and managing large-scale transformations positions her to make a significant impact at Lightcast.

    Ramachandra expressed her enthusiasm for this new role, saying, “Joining Lightcast is more than just a career move; it’s a chance to make a meaningful difference in the industry.” 

    She looks forward to working with a talented team dedicated to delivering transformative solutions.