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Venzee Q4 sales performed above its ambitious 2021 goals of $195,000 MRR and more than 2,000 sold Mesh Connectors™
CHICAGO, Dec. 23, 2021 /CNW/ - Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) ("Venzee'' or the "Company"), the artificial intelligence platform for product data, announced today that the Company has exceeded its 2021 targets of $195,000 USD Monthly Recurring Revenue (MRR) and 2,080 sold Mesh Connectors™.
Venzee saw significant revenue gains following the expiration of Mesh Connector™ discount periods and new sales contract wins that pushed the Company past its revenue target for fiscal year 2021.
Joel Carstedt, Senior Director of Sales at Venzee states, "This is an exciting milestone for Venzee that validates the advantage our technology provides to large enterprises by automating the delivery of product content. We expect our disruptive platform and advantaged sales model will continue to accelerate growth by landing new enterprise contracts and delivering on our significant revenue goal for 2022."
With more than 400 major retail Mesh Connectors™ instantly available to brands, Venzee has become an important tool in the simplification and automation of syndication processes for brands globally.
Venzee CEO John Abrams said, "In 2019 we laid out an ambitious revenue and sales plan. Today, our sales team delivered above our goals setting Venzee on a performance path that will allow us to achieve our massive 2022 revenue targets. Venzee is at the forefront of modern commerce and our extensible, AI-driven platform will play an integral role in the digital transformation of the consumer retail supply chain."
About Venzee Technologies, Inc.
Venzee (TSXV: VENZ) (OTCQB: VENZF) is the leading artificial intelligence platform for product data used by global brands to speed time to market and create competitive supply chain advantages. Venzee's intelligent platform automates inefficient last-mile retail processes with a frictionless, machine-driven solution for sending and receiving product data.
Venzee believes intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers. Venzee is 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 unlocks shareholder value by carrying out its mission to create intelligent technology that removes friction from the global supply chain. Its Mesh Connector™ product disrupts and displaces 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.