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Venzee far exceeds ambitious quarterly goal with sale of 500 Mesh Connectors™ to single partner
CHICAGO, Ill., March 18, 2021 /CNW/ - Venzee Technologies Inc. (TSXV: VENZ) ("Venzee" or the "Company") a smart tech platform that automates the distribution of consumer-facing product information to retailers, announces today a bulk purchase of 500 Mesh Connectors™ from a Product Content Management (PCM) partner.
The partner, a modern content management platform solution, engaged Venzee to fully automate the syndication of product information to global retailers for several of their large Consumer Packaged Goods (CPG) clients using Venzee's proprietary Mesh Connector™ product.
Other syndication solutions evaluated by this PCM partner were unable to offer the complete, end-to-end automated process Venzee uniquely provides. Venzee's Mesh Connectors™ offer brands and partners a single, reliable, machine to machine interface to simplify and speed the movement of product information to any retail destination.
With nearly 400 major retail Mesh Connectors™ available to clients, Venzee has become an important tool for brands and content management solutions who need to simplify and automate their syndication processes.
John Abrams, President and CEO of Venzee Technologies, said, "While this bulk purchase of 500 connectors is significant and outperforms our target of 250 Mesh Connector™ sales in Q1, it is in line with our overall sales performance expectations and will help ensure our ambitious full year sales targets are achieved."
Continued Mr. Abrams, "This significant bulk connector sale validates our belief that brands and content management companies value our unique platform functionality and will continue to purchase Mesh Connectors™ in increasingly large blocks ensuring Venzee can extract massive lifetime value from committed brands and partners."
Throughout 2021, Venzee Technologies has consistently met Key Performance Indicators (KPIs) and, with this large Mesh Connector™ purchase, has well exceeded its target of 250 Mesh Connectors™ sold by the end of Q1 2021.
Through new clients and deeper penetration across existing engagements, the Company anticipates it will continue announcing, on a regular basis, additional sales of Mesh Connectors™ within brands and manufacturers who have deeply integrated Venzee's platform capabilities across their retail sales channel operations.
Radically simpler than alternatives, Venzee's Mesh Connectors™ are unique in the market and are system agnostic and infinitely scalable.
By streamlining and automating the syndication and distribution of product information across any retailer sales channel, Venzee's Mesh Connectors™ provide consumer brands with a competitive edge that accelerates time to market and maximizes cost-effectiveness.
Mesh Connectors™ make the tedious process of setting up thousands of individual retail channels for a single product a thing of the past.
About Venzee Technologies, Inc.
Venzee (TSX-V VENZ) is a technology platform used by Global Brands to speed products to market and create competitive supply chain advantage. Venzee displaces costly, labor-intensive last-mile retail processes with a low-cost, intelligent platform solution.
We believe intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers. At Venzee, we're building the foundation for a future where seamless, accurate, automated data flow simplifies processes, removes friction, and creates value for all those that rely on the myriad of data and information surrounding any product, anywhere.
Venzee's mission is to unlock shareholder value by creating intelligent technology that removes friction from the global supply chain. Our products disrupt and displace inefficient manual processes in favor of integrated, machine-driven solutions.
To learn more about the Venzee platform, visit venzee.com
On Behalf of the Board,
Venzee Technologies, Inc.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms of the Offering, the completion of the Offering and the expected use of the net proceeds received by the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's management's discussion and analysis for the year ended December 31, 2018, and the quarter ended August 29, 2019, which are available under the Company's SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Venzee Technologies Inc.