Planhat Challenges Giants with AI: “$100 Million Around the Corner”
Planhat Challenges Giants with AI: “$100 Million Around the Corner”
The Swedish customer platform Planhat increased its revenue by 22% last year. “Terrible,” says CEO Kaveh Rostampor, who promises much higher growth and major investments ahead. The company has nearly $53 million in the bank.
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The Swedish software company Planhat flew somewhat under the radar for many years because it chose to shun venture capital and finance its growth from its own cash flow.
It wasn’t until 2022—seven years after it was founded—that the company raised $50 million from the venture capital firm Sprints Capital, run by Pierre Siris and Henrik Persson, at a valuation of a full $550 million, as Di reported.
Since then, Planhat has kept chugging along. In 2024, revenue amounted to $25 million, growth of 22 percent from the year before, according to a fresh annual report reviewed by Di.
But CEO and co-founder Kaveh Rostampor is not entirely satisfied.
The Swedish software company Planhat flew somewhat under the radar for many years because it chose to shun venture capital and finance its growth from its own cash flow.”
“
The Swedish software company Planhat flew somewhat under the radar for many years because it chose to shun venture capital and finance its growth from its own cash flow.
It wasn’t until 2022—seven years after it was founded—that the company raised $50 million from the venture capital firm Sprints Capital, run by Pierre Siris and Henrik Persson, at a valuation of a full $550 million, as Di reported.
Since then, Planhat has kept chugging along. In 2024, revenue amounted to $25 million, growth of 22 percent from the year before, according to a fresh annual report reviewed by Di.
But CEO and co-founder Kaveh Rostampor is not entirely satisfied.
The Swedish software company Planhat flew somewhat under the radar for many years because it chose to shun venture capital and finance its growth from its own cash flow.”
“
The Swedish software company Planhat flew somewhat under the radar for many years because it chose to shun venture capital and finance its growth from its own cash flow.
It wasn’t until 2022—seven years after it was founded—that the company raised $50 million from the venture capital firm Sprints Capital, run by Pierre Siris and Henrik Persson, at a valuation of a full $550 million, as Di reported.
Since then, Planhat has kept chugging along. In 2024, revenue amounted to $25 million, growth of 22 percent from the year before, according to a fresh annual report reviewed by Di.
But CEO and co-founder Kaveh Rostampor is not entirely satisfied.
“The Swedish software company Planhat flew somewhat under the radar for many years because it chose to shun venture capital and finance its growth from its own cash flow.”
“We’ve increased revenue by just over five times in the last three years (since 2021), but 20–30 percent growth is terrible for us. It was our worst year ever. Planhat should—and will—grow much faster than that,” he says.
He points out that SaaS companies (software sold on subscription) faced headwinds throughout 2023 and 2024 in the wake of global macroeconomic turbulence.
“It’s only this year that demand is truly back. Planhat is now growing really strongly,” says Kaveh Rostampor, who lives in the United States because it is the company’s largest market.
Exactly how high Planhat’s annual recurring revenue is, however, is something Rostampor declines to comment on.
“It’s between $10 million and $100 million. But we will surpass $100 million soon. It’s just around the corner.”
We’ve increased revenue by just over five times in the last three years (since 2021), but 20–30 percent growth is terrible for us. It was our worst year ever. Planhat should—and will—grow much faster than that.”
“
Kaveh Rostampor
CEO & Co-Founder
“We’ve increased revenue by just over five times in the last three years (since 2021), but 20–30 percent growth is terrible for us. It was our worst year ever. Planhat should—and will—grow much faster than that,” he says.
He points out that SaaS companies (software sold on subscription) faced headwinds throughout 2023 and 2024 in the wake of global macroeconomic turbulence.
“It’s only this year that demand is truly back. Planhat is now growing really strongly,” says Kaveh Rostampor, who lives in the United States because it is the company’s largest market.
Exactly how high Planhat’s annual recurring revenue is, however, is something Rostampor declines to comment on.
“It’s between $10 million and $100 million. But we will surpass $100 million soon. It’s just around the corner.”
We’ve increased revenue by just over five times in the last three years (since 2021), but 20–30 percent growth is terrible for us. It was our worst year ever. Planhat should—and will—grow much faster than that.”
“
Kaveh Rostampor
CEO & Co-Founder
“We’ve increased revenue by just over five times in the last three years (since 2021), but 20–30 percent growth is terrible for us. It was our worst year ever. Planhat should—and will—grow much faster than that,” he says.
He points out that SaaS companies (software sold on subscription) faced headwinds throughout 2023 and 2024 in the wake of global macroeconomic turbulence.
“It’s only this year that demand is truly back. Planhat is now growing really strongly,” says Kaveh Rostampor, who lives in the United States because it is the company’s largest market.
Exactly how high Planhat’s annual recurring revenue is, however, is something Rostampor declines to comment on.
“It’s between $10 million and $100 million. But we will surpass $100 million soon. It’s just around the corner.”
“We’ve increased revenue by just over five times in the last three years (since 2021), but 20–30 percent growth is terrible for us. It was our worst year ever. Planhat should—and will—grow much faster than that.”
Kaveh Rostampor
CEO & Co-Founder
Rostampor’s ambitions for Planhat, which has developed a platform companies can use for customer management, remain sky-high and have been reinforced by the technology shift to AI.
“Having AI built into the core of our platform gives us an even better opportunity to take on the world’s biggest players: Salesforce and HubSpot,” he says.
A concrete example is that Planhat’s users can receive AI-generated summaries about the people they have scheduled meetings with in their calendars.
In addition, there are a number of other AI agents that automate various workflows.
“In many cases, our customers can have half as many people handling their customers by using our technology,” he says.
In many cases, our customers can have half as many people handling their customers by using our technology.”
“
Kaveh Rostampor
CEO & Co-Founder
Rostampor’s ambitions for Planhat, which has developed a platform companies can use for customer management, remain sky-high and have been reinforced by the technology shift to AI.
“Having AI built into the core of our platform gives us an even better opportunity to take on the world’s biggest players: Salesforce and HubSpot,” he says.
A concrete example is that Planhat’s users can receive AI-generated summaries about the people they have scheduled meetings with in their calendars.
In addition, there are a number of other AI agents that automate various workflows.
“In many cases, our customers can have half as many people handling their customers by using our technology,” he says.
In many cases, our customers can have half as many people handling their customers by using our technology.”
“
Kaveh Rostampor
CEO & Co-Founder
Rostampor’s ambitions for Planhat, which has developed a platform companies can use for customer management, remain sky-high and have been reinforced by the technology shift to AI.
“Having AI built into the core of our platform gives us an even better opportunity to take on the world’s biggest players: Salesforce and HubSpot,” he says.
A concrete example is that Planhat’s users can receive AI-generated summaries about the people they have scheduled meetings with in their calendars.
In addition, there are a number of other AI agents that automate various workflows.
“In many cases, our customers can have half as many people handling their customers by using our technology,” he says.
“In many cases, our customers can have half as many people handling their customers by using our technology.”
Kaveh Rostampor
CEO & Co-Founder
As part of this, Planhat has also launched a new payment model. Instead of customers paying monthly or annually for the customer management system based on a license model, they can choose to pay for the actual results achieved.
“We think that trend is super exciting. More and more companies will have to move in that direction,” he says.
Doesn’t that create uncertainty for you?
“To some extent, but it’s much more transparent and honest. If you can actually solve a problem you get paid, but if you can’t do it with quality, you have no right to exist,” says Kaveh Rostampor.
He compares it to the business model long established in advertising, where players like Google and Meta charge per click per ad.
“How quickly it will replace the subscription model entirely is hard to say, but I clearly think we’re moving in that direction,” says Rostampor.
Instead of customers paying monthly or annually for the customer management system based on a license model, they can choose to pay for the actual results achieved. ”
“
As part of this, Planhat has also launched a new payment model. Instead of customers paying monthly or annually for the customer management system based on a license model, they can choose to pay for the actual results achieved.
“We think that trend is super exciting. More and more companies will have to move in that direction,” he says.
Doesn’t that create uncertainty for you?
“To some extent, but it’s much more transparent and honest. If you can actually solve a problem you get paid, but if you can’t do it with quality, you have no right to exist,” says Kaveh Rostampor.
He compares it to the business model long established in advertising, where players like Google and Meta charge per click per ad.
“How quickly it will replace the subscription model entirely is hard to say, but I clearly think we’re moving in that direction,” says Rostampor.
Instead of customers paying monthly or annually for the customer management system based on a license model, they can choose to pay for the actual results achieved. ”
“
As part of this, Planhat has also launched a new payment model. Instead of customers paying monthly or annually for the customer management system based on a license model, they can choose to pay for the actual results achieved.
“We think that trend is super exciting. More and more companies will have to move in that direction,” he says.
Doesn’t that create uncertainty for you?
“To some extent, but it’s much more transparent and honest. If you can actually solve a problem you get paid, but if you can’t do it with quality, you have no right to exist,” says Kaveh Rostampor.
He compares it to the business model long established in advertising, where players like Google and Meta charge per click per ad.
“How quickly it will replace the subscription model entirely is hard to say, but I clearly think we’re moving in that direction,” says Rostampor.
“Instead of customers paying monthly or annually for the customer management system based on a license model, they can choose to pay for the actual results achieved. ”
In 2024, Planhat improved its operating result to minus $5 million, from a loss of $7.6 million the year before. Thanks to positive currency effects—since large parts of Planhat’s cash are in dollars—the company simultaneously posted a profit before tax of $1.6 million.
Chasing profitability, however, does not appear to be Rostampor’s primary focus.
“We will hire 20 people in the third quarter and 20 more in the fourth,” he says, noting that the company today has around 200 employees.
“We’re not completely finished with the budget yet, but next year we’ll likely add another 50–100 people.”
Chasing profitability, however, does not appear to be Rostampor’s primary focus.”
“
In 2024, Planhat improved its operating result to minus $5 million, from a loss of $7.6 million the year before. Thanks to positive currency effects—since large parts of Planhat’s cash are in dollars—the company simultaneously posted a profit before tax of $1.6 million.
Chasing profitability, however, does not appear to be Rostampor’s primary focus.
“We will hire 20 people in the third quarter and 20 more in the fourth,” he says, noting that the company today has around 200 employees.
“We’re not completely finished with the budget yet, but next year we’ll likely add another 50–100 people.”
Chasing profitability, however, does not appear to be Rostampor’s primary focus.”
“
In 2024, Planhat improved its operating result to minus $5 million, from a loss of $7.6 million the year before. Thanks to positive currency effects—since large parts of Planhat’s cash are in dollars—the company simultaneously posted a profit before tax of $1.6 million.
Chasing profitability, however, does not appear to be Rostampor’s primary focus.
“We will hire 20 people in the third quarter and 20 more in the fourth,” he says, noting that the company today has around 200 employees.
“We’re not completely finished with the budget yet, but next year we’ll likely add another 50–100 people.”
“Chasing profitability, however, does not appear to be Rostampor’s primary focus.”
That sounds like major investments?
“I’d say we’re in an investment phase. We’re not holding back and we have a very large cash balance—capital isn’t a bottleneck—but at the same time we’re not doing dumb things,” he says, noting that Planhat had $53 million in liquid assets at year-end.
He admits that Planhat will “probably” need to raise additional capital for the ambition to seriously challenge Salesforce to become reality, and that the stock market is a likely end point in the future.
“But right now, it’s very nice to be in a private environment,” says Kaveh Rostampor, who—together with co-founder Niklas Skog—still owns over 70 percent of Planhat.
That sounds like major investments?
“I’d say we’re in an investment phase. We’re not holding back and we have a very large cash balance—capital isn’t a bottleneck—but at the same time we’re not doing dumb things,” he says, noting that Planhat had $53 million in liquid assets at year-end.
He admits that Planhat will “probably” need to raise additional capital for the ambition to seriously challenge Salesforce to become reality, and that the stock market is a likely end point in the future.
“But right now, it’s very nice to be in a private environment,” says Kaveh Rostampor, who—together with co-founder Niklas Skog—still owns over 70 percent of Planhat.
That sounds like major investments?
“I’d say we’re in an investment phase. We’re not holding back and we have a very large cash balance—capital isn’t a bottleneck—but at the same time we’re not doing dumb things,” he says, noting that Planhat had $53 million in liquid assets at year-end.
He admits that Planhat will “probably” need to raise additional capital for the ambition to seriously challenge Salesforce to become reality, and that the stock market is a likely end point in the future.
“But right now, it’s very nice to be in a private environment,” says Kaveh Rostampor, who—together with co-founder Niklas Skog—still owns over 70 percent of Planhat.
Planhat is an AI-based customer management system. It also functions as a data platform that gives users a clear overview of their customer relationships from the moment the first contract is signed. The platform focuses primarily on how companies can nurture relationships with their existing customers—in contrast to many competing systems that are built to maximize new sales.
Planhat provides an overview of how end customers use their services, so that companies can, at an early stage, identify whether a customer may be about to cancel their agreement or might be inclined to buy more. Working proactively with one’s customer base has become even more important in an economy where one-off transactions have been replaced by subscription-based business models. Examples of customers include Nasdaq, Trustpilot, and Telia Cygate.
Planhat is an AI-based customer management system. It also functions as a data platform that gives users a clear overview of their customer relationships from the moment the first contract is signed. The platform focuses primarily on how companies can nurture relationships with their existing customers—in contrast to many competing systems that are built to maximize new sales.
Planhat provides an overview of how end customers use their services, so that companies can, at an early stage, identify whether a customer may be about to cancel their agreement or might be inclined to buy more. Working proactively with one’s customer base has become even more important in an economy where one-off transactions have been replaced by subscription-based business models. Examples of customers include Nasdaq, Trustpilot, and Telia Cygate.
Planhat is an AI-based customer management system. It also functions as a data platform that gives users a clear overview of their customer relationships from the moment the first contract is signed. The platform focuses primarily on how companies can nurture relationships with their existing customers—in contrast to many competing systems that are built to maximize new sales.
Planhat provides an overview of how end customers use their services, so that companies can, at an early stage, identify whether a customer may be about to cancel their agreement or might be inclined to buy more. Working proactively with one’s customer base has become even more important in an economy where one-off transactions have been replaced by subscription-based business models. Examples of customers include Nasdaq, Trustpilot, and Telia Cygate.
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