London Stock Exchange welcomes Windward Ltd. to AIM
Windward is a leading predictive intelligence company, fusing artificial intelligence and maritime expertise seeking to digitalise the global maritime industry. Windward's AI-powered software solution provides real time information and insights on major seafaring vessels at sea, enabling stakeholders within the maritime ecosystem to make intelligence-driven decisions to manage risk and achieve business and operational insights.
Windward was founded in Israel in 2010 by Ami Daniel and Matan Peled, ex-navy officers who identified that although maritime risks pose a major threat to many participants, they had not identified a solution that offered the fusion of multiple data sources and analytics to provide understanding of insights and actionable recommendation.
Windward now has over 70 globally spread customers, including BP, Shell, HSBC, Gard and Danske Bank and government organisations such as agencies from the US department of Defence and Homeland Security, Frontex (the pan-European border and coast guard agency) and the United Nations.
The Company offers its Predictive Intelligence Platform through a Software as a Service model, providing annual subscription for customers and benefits from a strong commercial model with high levels of recurring revenue supporting strong revenue and cash flow visibility. As at 30 September 2021, Windward had an annual contract value of US$19.7 million (unaudited), 99 per cent. of the revenue being subscription based.
On 1 December 2021, Windward announced a placing of new and existing ordinary shares which has today completed, raising gross proceeds of £26.3 million ($35 million) of new capital for the Company and £8.2 million ($10.9 million) for certain existing shareholders and option holders. On Admission, the Company will have a market capitalisation at the Placing Price of approximately £126.5 million.
Windward is headquartered in Israel with a presence in five additional locations around the world, being the UK, USA (west coast and east coast including Washington D.C.), Denmark and the UAE.