Opening of a new hub in Calgary for the development of Sidetrade in North America
- $24 million investment plan
- Creation of 110 jobs
side tradean Artificial Intelligence platform dedicated to securing and generating business cashflow, announces the acceleration of its expansion in North America with a $24 million investment plan and the creation of 110 full-time jobs in Calgary (Canada) over the next three years.
$24 million investment plan and 110 jobs in Calgary
Only one year after the launch of its operations in North America, Sidetrade is ahead of its objectives and posts 58% of order intake in North America. At the same time, the SaaS vendor was recognized by Gartner as one of three global leaders in its Magic Quadrant™ for Invoice-to-Cash applications.
Sidetrade is now accelerating its expansion in North America by investing $24 million over the next three years and planning a major recruitment plan in the region.
Brad Parry, President and CEO of Calgary Economic Development, said: “Sidetrade’s expansion into Calgary as a North American headquarters is a testament to the city’s premier business environment and the exciting momentum of our technology and innovation ecosystem. Alberta and Calgary are AI centers of excellence with highly skilled talent, and as a global AI leader, Sidetrade joins a growing list of multinational companies that call Calgary home, where bright minds with big ideas solve global challenges. »
Sidetrade plans to fill 110 new positions and recruits a variety of profiles (from university graduates to management positions) in sales, marketing, professional services, IT support and R&D. As part of its ongoing commitment to developing its talents, Sidetrade will offer its new employees access to Sidetrade Academya training program for successful integration and professional development.
Inauguration of a new hub in Calgary to support its activities in the North American market
Sidetrade chose Calgary, a very attractive city for international companies developing technologies based on Artificial Intelligence (AI). The news coincides with the Government of Canada commitments in favor of AI as a driver of economic growth and jobs.
Calgary Skyview District MPP George Chahal said: “I congratulate Sidetrade on the opening of their new office in Calgary. It’s an exciting journey for Sidetrade, a new cutting-edge AI and technology company coming to Calgary. It also marks an important step in Canada’s ambition to emerge as a world leader in ICT. Artificial intelligence is one of the most important and innovative technological advances of our time and has a significant impact on the daily lives of Canadians. Canada’s strategy to become a global technology leader will help drive economic growth, build a modern and resilient economy, and attract top talent from around the world. »
The establishment of Sidetrade in Canada will also support the growth of its international clientele and its operations on the North American continent.
Sidetrade has chosen to settle in the “Ampersand” building in the city center, in a district that is attracting more and more world-class technology companies. Calgary is currently ranked among the 50 Best Cities in North America for Tech Talent and positioned itself at third place in the annual ranking of cities where life is good according to The Economist Intelligence Unit.
Sidetrade has already recruited 44 employees in North America – including 20 for its hub in Calgary – who will reinforce the total workforce of 300 employees spread across the world.
Calgary Mayor Jyoti Gondek said: “Sidetrade has chosen downtown Calgary as the location for its North American headquarters and creating 110 new jobs, giving a boost to our city’s growing tech sector. As our reputation for innovation grows, more and more companies like Sidetrade recognize the competitive advantage that Calgary offers, given its large talent pool, infrastructure and attractiveness. economic. »
Sidetrade operates in a buoyant market valued at $5 billion in North America according to Midcap Partners. Major North American companies such as Tech Data, Expedia, Iron Mountain, Micro Focus, Clean Harbors, Select Energy Services, and Superior Propane already trust Sidetrade.
Olivier Novasque, President and CEO of Sidetrade, said:
” Calgary is the perfect city to realize our global ambitions. Today, Sidetrade reaches an important milestone. Our new location in Calgary is a business accelerator for the entire North American continent and will provide strong support to our customers around the world. Additionally, Sidetrade is a truly multicultural organization, and we are excited to begin the next leg of our journey with more Canadian teammates. We look to the years to come with confidence. We have the vision and resources to become a global leader in AI-driven Order-to-Cash applications. »
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About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) offers a SaaS platform specialized in generating and securing cashflow. “Aimie”, its Artificial Intelligence, analyzes more than $4,600 billion of inter-company transactions daily present in the Sidetrade Cloud in order to predict the payment behaviors of nearly 21 million companies worldwide and the risk of attrition customer. Aimie recommends the best recovery strategies, automates actions on the Order-to-Cash cycle, and dematerializes transactions with customers, which improves productivity, performance, and ultimately WCR.
Present in Paris, London, Birmingham, Dublin, Houston and Calgary, Sidetrade serves companies in more than 85 countries, including Tech Data, KPMG, Nespresso, Hearst, Expedia, Manpower, Securitas, Randstad, Engie, Veolia, Vinci, Saint Gobain, Air Liquide, Inmarsat or even Bidfood.
For more information, visit www.sidetrade.com and follow us on Twitter @Sidetrade.
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Sidetrade continues its expansion in North America and settles in Canada
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