And if you think about our results that we announced here, it’s been a record banner year for us for ARR growth perspective. First and foremost, we achieved a remarkable 80% increase in ARR for new bookings for our SuperApp product in 2023 compared to 2022. Exceptional growth underscores the surging demand for our subscription-based offerings and validates our strategic shift towards a recurring revenue model. Also, the overall annual recurring revenue was up 24%, which shows great resilience within our existing customer base, as well as new clients who were at the beginning of their CXAI journey. As you read the financial statements, you’ll see that the total revenue was down, but that was because of our strategic shift to this annual recurring model, where we have given up one-time revenues for these multi-year deals, which are more beneficial for us, both from our customer engagement as well as from our valuation perspective and for our scalability.
So that was a determined move by us, and I’m pretty happy that we’ve seen this level of ARR growth in our business. Furthermore, our yearly subscription revenue mix has increased from 65% to a strong 78%. As I said earlier, Q4 was at 81%, so we’re really on a strong path of getting more subscription revenue, and this successful shift away from one-time fees to a more predictable and sustainable revenue model is the right path for us. On the customer acquisition front, we’ve added many new Fortune 500 companies as our customers, highlighting the market appeal of our SuperApp solution. The key, marquee ones, as you can see in financial services, Visa and BNY Mellon and NBCUniversal are really leaders of their segments, and so we’re super excited working with them.
We’re working on really great products for them and really great solutions that I think will be launched in 2024 and will be scaled up dramatically. And so, all in all, we really are pretty happy with the end-of-the-year performance. When you look at the GAAP OpEx reduction from when we acquired the business, we’ve had a 37% reduction year-over-year in OpEx, which ultimately accounts for around $13.2 million in cost-cutting measures. And as I said earlier, we reinvested in the business, so we cut deeper, but still we’ve managed to maintain the quality of our product, maintain the performance of our engineering team, actually double the number of engineers, like I said, and more importantly, we have kept the cost structure to a point where it’s really tied to scalability in 2024.
Looking forward, or looking ahead, we’re confident that our increasing ARR bookings from customer acquisition and focus on subscription that we will drive sustainable growth. We’re committed to continue innovating our CXAI platform, delivering value to our expanded customer base. So let me talk a little bit more about 2024, our initiatives in 2024. Our strategic initiatives are focused on five key pillars. First is land and expand. We plan to scale our existing logos with deployments globally as we won some very large clients at the starting point of their journey. Secondly, given that we have successfully deployed these solutions, there’s demand from new clients to build a future for them faster. We’re seeing a lot of new demand coming in for the CXAI platform.
And working with Google and others, we think that that expansion will definitely happen. Product expansion. To optimize customer retention and deliver exceptional value, we’re relentlessly focused on continuous product innovation on the CXAI platform. These innovations are driven by our customer requests for increased engagement tools to drive employee satisfaction and productivity. So we’re continuously adding new features to the existing platform to allow for new innovations and new experiences. As you look forward, the CXAI platform is built on AI. The focus of AI is really on the AI automation. This positions us to revolutionize the employee experience in 2024 and beyond. By consolidating tools into a mobile-first work SuperApp, we streamline workflows, boosting efficiency and productivity.
Our AI-powered approach integrated with Google Cloud goes beyond basic automation. It’s designed to create an intuitive and personalized work experience, reducing friction and promoting employee collaboration, key factors driving engagement and affinity. And last, but not least, we also have our analytics in the CXAI Platform. These experiential analytics offer businesses unprecedented access to data-driven insights about their workplace and employee interactions. By harnessing the power of spatial intelligence and Generative AI, CXAI provides actionable recommendations for optimizing workplace utilization, enhancing collaboration, and improving overall workplace effectiveness. These insights will allow companies to make informed decisions that align with their strategic goals, leading to better resource allocation, higher operational efficiency, and a more engaging work environment.
The continuous loop of feedback and improvement fosters an innovative culture that is responsive to change, positioning businesses as leaders in creating future-ready workplaces. And last, but not least, our strategic partnership will be the cornerstone of our growth strategy over the year. We’re actively expanding our network of partners from the cloud to the device, and providing the best end-to-end experiences for employees and employees. This will enable us to offer fully integrated end-to-end workplace solutions, certifying our position as the go-to platform for managing the entire employee experiences. Through these partnerships, we’ll unlock new and innovative use cases for our SuperApp. They will drive both market expansion and deepen our relationship with existing customers.
We’re confident that strategic partnership will be a key driver of accelerated growth and market leadership in 2024. And one of the ones that we’ve announced today, a couple weeks ago, and in today’s PR you’ll see that, is our work with Google Cloud team. Our strategic partnership with Google Cloud is a major catalyst for growth. It reinforces our dedication to pushing the boundaries of the future work, enhancing the power of our workplace SuperApp. And so, the first initiative that they’ve worked with us is they’re co-investing in our CXAI platform organization, which is really developing this next generation solution and providing the right set of capabilities around it. We think that’s really important to work with a partner that has a lot of capabilities in AI and security and all the different capabilities.
