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.
Twitter: @usevenzee
LinkedIn: linkedin.com/company/venzee-inc/
Podcast: venzee.com/resources/podcast
On Behalf of the Board,
Peter Montross
Chief Operating Officer
Forward-Looking Information
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.
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SOURCE Venzee Technologies Inc.