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Venzee continues Mesh Connector™ sales momentum
CHICAGO, June 10, 2021 /CNW/ - Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) ("Venzee" or the "Company"), a smart tech Software as a Service (SaaS) platform, used by Consumer Brands to move critical, consumer-facing product information to any global retailer, announced today additional Mesh Connector™ sales to a leading manufacturer and distributor of thermoelectric and refrigeration products.
The client has an extensive global presence, selling to major retailers across North America and over 30 countries worldwide.
According to Mike Kollas, Director of Business Development at Venzee, "After looking at all of the content distribution options on the market today, this client selected Venzee based on the merits of our technology platform and the wide range of Mesh Connectors™ we offer to meet their expansive retail needs. Our competitors offer solutions built on technology of the 1940s or 1970s and those solutions just can not meet the needs of brands in the modern era of retail."
Mr. Kollas continued, "This competitive win validates our position in the market with a brand that thoroughly evaluated all alternatives and chose the Venzee platform to meet their ambitious global content syndication needs."
Venzee CEO John Abrams said, "In 2019, our sales team set out an ambitious plan to accelerate our Mesh Connector™ sales growth. Today, we continue to exceed our sales plan goals and this highly competitive win suggests the superiority of our technical platform against well-funded, but outdated GS1 Data Pools and other high labor, high expense alternative approaches."
Venzee recently reported a set of Key Performance Indicators (KPI's) including more than 650 sold Mesh Connectors™ as of the end of Q1 2021. Following a post-promotional period and assuming continued 0% churn, these Mesh Connectors™ will generate future recurring revenues of approximately $150,000 USD per month (MRR).
Radically simpler than alternatives, Venzee's Mesh Connectors™ are unique in the market, system agnostic and infinitely scalable. Venzee's intelligent platform offers partners and brands a reliable, machine-to-machine interface that accelerates the distribution of product information to any retail destination.
With more than 400 major retail Mesh Connectors™ available to clients, Venzee has become an important tool in the simplification and automation of syndication processes for brands globally.
About Venzee Technologies, Inc.
Venzee (TSX-V: VENZ, OTCQB: VENZF) is a technology platform used by Global Brands to speed products to market and create competitive supply chain advantages. 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,
Chief Operating Officer
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.