February 14, 2018
Vancouver, BC – Venzee Technologies Inc. (TSX-V: VENZ) (the “Corporation” or “Venzee”) is pleased to announce that Amer Rugs, a U.S based subsidiary of Saraswatii Global Ltd., has selected Venzee to automate the process of adding and updating products to their retailers.
Amer Rugs, one of the industry’s leading manufacturers of premium quality rugs for over 30 years, shares product information with Bed Bath and Beyond. Venzee’s proprietary integration with Bed Bath and Beyond reduces time to market dramatically. Venzee transforms product information from suppliers and manufacturers into the requirements of retailers, a labor intensive and costly process that the retail industry still performs using spreadsheets.
Kate Hiscox, Founder and President of Venzee, commented, “We are delighted to be working with one of the leading manufacturers of rugs in the U.S and India. We continue to build on our enterprise client base regularly, and Amer is just another example how our software is relevant to all industries in e-commerce businesses around the world. Amer saw the financial benefit of using Venzee to update their online product information and were quick to adopt. We are confident we have the best technology in the space, and this solution will allow us to build on our monthly recurring revenue.”
Venzee provides high value customized SaaS (software-as-a-service) solutions to mid-market and tier-1 enterprise clients around the world. Additionally, it accommodates the budgets of up and coming retailers hosted on platforms like Shopify.
According to Statista, in 2016, the global e-commerce industry achieved estimated US$1.8 trillion dollars in sales, and is expected to grow to US$4.5 trillion by 2021. As e-commerce sales continue to grow at staggering rates, the need for better delivery of product information for businesses is now solved with the Venzee software solution.
About Amer Rugs
Founded in 1986 by Mahesh Choudhary with a vision to build AMER into a global leader in the rug industry. Over the past three decades, Choudhary has seen his vision emerge from a small but focused manufacturer known for exceptional quality and craftsmanship with one facility and a hand full of employees to one of the most prestigious manufacturers in India currently with nine facilities and additional factories either in the planning stages are under construction. Now with roughly 10,000 employees, a National Sales Force, and permanent showrooms in Atlanta, Las Vegas, High Point, and Jaipur and participates in International markets.
Venzee is a SaaS company that launched in 2014 to help e-commerce vendors and retailers easily share product information in a US$23 trillion retail industry (source: Statista). Traditionally, this was done using spreadsheets which created a labor-intensive process that delayed products from reaching the marketplace. Venzee’s technology, leveraging artificial intelligence to streamline product information management, allows thousands of vendors and retailers to seamlessly share information, avoiding delays and getting products to market faster than ever. The Company graduated from notable startup accelerator program 500 Startups and is already powering some of the biggest brands in the world.
To learn more about Venzee, visit https://venzee.com. For more about Mesh, visit https://meshblockchain.com.
Investor Relations, Kin Communications Inc.
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