The Portuguese multinational company reported strong results last year and revised its 2022 growth plans to 28 per cent

InnoWave, a Portuguese technological innovation company, presented its 2021 financial results, with consolidated revenues of 24.1 million euros, an increase of 23% compared to 2020. With these results, ascertained on December 31, InnoWave revises its business perspectives for 2022. The company aims to end this year with revenues of 30.9 million euros, which represents a growth of 28% (16% organic and an additional 12% from acquisitions).

Among the fastest-growing areas are IoT (Internet of Things), cybersecurity, salesforce, automated software testing and blockchain.

In terms of revenue by geographic market, the largest market was the UK with 38% of the business, closely followed by Portugal with 21%, Benelux with 18% and the United States of America, which accounted for 16%. InnoWave has also seen rapid growth in its operations in India, which grew to 7% of global turnover. The international market was worth 79% of turnover last year.

As far as areas of operation in 2021 are concerned, Communications, Media & Technology stand out, representing 79% of the business, followed by Financial Services and Insurance with 11% and Energy with 7%.


Company to increase the team in 2022

To strengthen its offer during 2022, InnoWave plans to hire 160 people, in Portugal and India. In Portugal, the company opened new offices in Beja, focused on Cyber and IoT, facilities that complement the offer available in Lisbon, Porto and Coimbra. By the end of this year, the Portuguese multinational plans to open two more locations in Portugal to better cover the territory and give its teams more location options.

Tiago Gonçalves, InnoWave’s CEO: “We continue to bring value to our clients as they accelerate on their digital transformation journey. Our excellent performance in 2021 shows our ability to capitalise on the market opportunity that exists for the most innovative technology players. This is the direct result of our strategy of building a people-centric organisation, hiring the best talent and upskilling professionals where we are present. It also reflects the result of the strategy of focusing our business on the most strategic and innovative offerings and the goal of helping the world’s leading companies power their businesses using the best of technology (digital, cloud, IoT, security, Data & AI and blockchain).”

Among the different InnoWave solutions and platforms that contributed to these solid results, the startups Vigie and Gamifyou should also be mentioned.

Vigie Solutions is the provider of a cloud health technology solution that allows more efficient and safe management of Hospitals, Pharmacies and Laboratories, allowing the intelligent monitoring of critical processes, using artificial intelligence, through the real-time collection of data from sensors. Vigie Solutions has more than 150 customers in Portugal and is now investing in its international expansion, having already customers in the United Kingdom, Belgium, Spain and Italy.

Gamifyou is a spinoff of the InnoWave Universe, created in 2021.  Gamifyou has a cloud platform that uses artificial intelligence and gamification techniques to encourage good practices and promote behavioural change in employees, customers and citizens.