July 16, 2020
Vancouver, BC – Venzee Technologies Inc. (TSX-V: VENZ) (the “Corporation” or “Venzee”) in response to growing client demand for retail channel connections – provided through the Company’s platform solution – Venzee is now providing stakeholders with visibility to retail channel connection growth and operational pipeline velocity.
Today the Company is announcing key metrics indicating Retail Channel Availability through its platform solution and metrics indicating increased pipeline velocity over the past 30 days.
Venzee provides an AI platform solution for automating information flow in the ‘last mile’ of the retail supply chain. Venzee extends and expands the benefits of digital integration to any consumer-facing retail destination. The Company charges a fee for each retail channel connection it provides to a brand, manufacturer, or distributor through its globally available, cloud-based platform.
According to Chad Kaczmarek, Senior Director of Integrations at Venzee, “Accelerating pipeline velocity through rapid retail channel deployment has always been our goal. In the early stages of the COVID-19 pandemic however, manufacturer requests outpaced our capabilities and required our team to improve both tech and operational processes. We have responded to that client demand and now can deploy new retail channel connections to more quickly satisfy client requests and meet our Q4 2020 channel availability goals.”
Retail Channel Availability – Monthly Metrics
- June Retail Channel Availability was 136.
- June New Retail Channel requests totaled 319.
- Between June 15 and July 15 the Company added 42 new Retail Channels to its platform, significantly increasing the previous month channel deployments.
- On July 15, Retail Channels Available through the Company’s platform totaled 178 or 59% of the Company’s 2020 operational goal.
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.
Rethinking Supply Chain
Now available on Apple, Spotify, and other Podcast services, Venzee CEO, John Abrams, shares his expertise from years of work in the global supply chain – alongside other industry experts. On the show, we dive into all aspects of the supply chain. We discuss the history of the supply chain, how it is changing, and what makes for a resilient supply network in today’s rapidly changing world.
To learn more about Venzee, visit venzee.com
On Behalf of the Board,
John Sexton Abrams
President and CEO
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.
For further information: Venzee, Investor Relations, Caleb Jeffries, Kin Communications Inc., 1-866-684-6730, VENZ@kincommunications.com