Perth-headquartered icetana AI, a company that develops self-learning security AI software designed for large-scale surveillance networks and SOCs, has received a purchase order from Curtin University for the renewal of its software subscription.
Curtin University has been a "strong referring customer" of icetana AI for over a decade, the company stated, and this latest expansion order represents an 85% increase to the existing subscription fee.
The order is for a total contract value of $242,000.
The contract is priced on a SaaS basis and will add a net $37,000 to the Company’s ARR.
The three year contract term is back-dated to begin 1 February 2026, and will end 31 January 2029.
“To see a long-standing customer like Curtin University more than double its camera licence footprint speaks volumes about the tangible results our platform delivers," Kevin Brown, icetana AI's CEO, said.
"It also reflects growing demand for safety on university campuses to protect staff and students. This expansion adds meaningfully to our ARR and reinforces our confidence in the recurring revenue model we are building.”
Last month, icetana received a purchase order from Majid al Futtaim Properties for the renewal of its software subscription.
MAF has been a "strong referring customer" of icetana AI since 2016, with the company’s AI software relied upon to service 16 shopping malls throughout the Middle East.
The expansion order represents a 53% increase to the existing contract size in USD terms, adding a net US$146,000 (~A$209,000) to the company’s annual recurring revenue. The order is for a total contract value of US$1,488,000 (~A$2,100,000).
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