The Fast-Growing Open-Source Community Paired with Continual Updates to the Company’s State-of-the-art NLP Software Accelerates Growth
John Snow Labs, the Healthcare AI and NLP company and developer of the Spark NLP library, today announced that it has grown its customer base 5x in just a year for its enterprise Natural Language Processing (NLP) software, Spark NLP for Healthcare and Spark OCR. With an average subscription of more than $100,000 per year, this customer expansion translates to material revenue growth, which will be reinvested into the company to fuel faster innovation.
With just five years in production, Spark NLP commands a 59% market share among NLP practitioners in the healthcare and life science industries, according to recent research from Gradient Flow. Customers include half of the world’s top 10 pharmaceutical companies and the three largest US healthcare companies, among others. Use cases of successful deployments of the software were shared at the recent NLP Summit by Roche, Providence Health, Novartis, OMNY Health, Merck, Mount Sinai, GE Healthcare, Kaiser Permanente, and Diameter Health.
The driver behind John Snow Labs’ accelerated growth has always been its commitment to delivering the latest, most accurate NLP software. Keeping with that promise, the company celebrated four straight years of releasing new software every two weeks in October. After achieving 9x growth in 2020, the library’s number of downloads has grown 4x in 2021, surpassing 1.3 million downloads per month.
“John Snow Labs is committed to continual innovation, translating novel research into production-grade software, not only for our customers, but the greater open-source community,” said David Talby, CTO at John Snow Labs. “Last year’s best-in-class AI tools are already underperforming today — our job is to keep rebuilding the software to provide users with the most accurate, scalable, and robust NLP solution anytime.”
In addition to providing exceptional commercial NLP software, John Snow Labs is equally dedicated to lowering the barriers to entry for the global AI community. The company recently announced it will enable free access to its enterprise-grade Annotation Lab and NLP Server. With no coding or data science experience necessary and the ability to upload your own models, these tools are valuable to both beginners and experts. Access to thousands of pretrained models, no limit on the number of deployments, users, and customers, and no data sharing requirements make the Annotation Lab and NLP Server cost- and compliance-safe solutions for any NLP projects.