Miivo AI (TSX-V:MIVO) earlier this week provided an update on its commercial progress, highlighting growing customer adoption, expanding product capabilities and plans to accelerate growth through strategic partnerships and continued investment in artificial intelligence.
Speaking to Proactive, CEO Alex Damouni said the company's three AI products, launched over the past six months, have attracted more than 3,000 users, with early adoption increasingly converting into paying customers.
Proactive: You've launched three AI products in just six months and attracted more than 3,000 users. What's been the biggest takeaway from the market's response so far?
Alex Damouni: From my perspective, what we've been seeing as customers come on board and interact with the platform is that they come from a range of different industries, but we're starting to notice very similar challenges across those businesses.
Whether it's a manufacturing company or a retail company, business owners are trying to understand what's happening on a day-to-day basis within the company, what to do with that information and how to apply it to grow more productively.
Those common challenges are helping us train our AI and provide solutions that work across industries, which is extremely promising at this early stage of our growth.
Rather than building a single platform, you're creating a portfolio of AI tools. Why is that the right strategy and how does it strengthen the business?
We believe a platform that provides solutions for businesses at different stages of growth and with different needs is extremely important.
During our R&D phase, when we started building the technology in 2025, we found businesses consistently faced common challenges.
The first challenge was data visualisation. Businesses had data scattered across different parts of the organisation, so our goal was to bring everything together into one unified system that provides real-time visibility into what's happening.
The second challenge was growth. Every business is thinking about how to grow and scale, so we started building tools to help address those opportunities.
The third area was customer engagement and customer retention. That's where products such as our customer insights and reputation management tools came into play.
Each tool has a very deliberate purpose, and every one of them was developed alongside the companies we worked with. They're based on real customer feedback and real business challenges, organised into distinct solution areas.
You've expanded your engineering and sales teams while growing recurring revenue. How do these investments position Miivo for its next phase of growth?
It's a great question. What we're seeing right now is early user adoption that's converting into paying customers. That's a proof of concept for us that the products are working.
The encouraging aspect is that adoption is coming from businesses across multiple industries, meaning our addressable market remains very large.
Our objective from the beginning has been to build solutions that serve businesses across industries rather than focusing on one specific sector.
We're also beginning to expand geographically so we can serve customers in different parts of the world.
Channel partners are another important part of our business model. Rather than relying solely on direct customer acquisition, we're partnering with organisations such as accounting firms and software companies that already have established user networks.
By embedding our products into those ecosystems, we can leverage existing infrastructure and adopt a one-to-many approach to customer acquisition.
So we're positioned for growth through both direct sales and strategic partnerships.
Looking ahead, what are the key milestones investors should watch over the next 12 months as you scale the platform and convert that early traction into sustainable revenue?
One of the biggest priorities is continuing to build our AI capabilities and improve the underlying technology.
When we first developed the platform, we relied heavily on the experience of our management team, which has extensive expertise working with small and medium-sized businesses. That knowledge helped us begin training the AI.
As more users joined the platform and interacted with it, those real-world experiences provided another layer of intelligence that continues to improve the AI's capabilities.
As we move forward, we'll continue enhancing the technology we deploy to businesses.
Another important opportunity comes from working closely with customers and gathering feedback. We're looking to reverse engineer many of the solutions we develop alongside customers and then make those capabilities available to a broader market.
Over the next 12 months, our focus is on deploying the technology, strengthening its capabilities and continuously improving the user experience through ongoing feature development.
Quotes have been lightly edited for style and clarity