Venzee Secures New Partnership After Customer Promotes Venzee’s AI Platform to Their Retailer Partner
Vancouver, BC – Venzee Technologies Inc. (TSX-V: VENZ | OTCQB: VENZF) (“Venzee” or the “Company“), the leading Artificial Intelligence Platform for Product Data, announced today a new partnership with a major US-based specialty retailer serving the furniture and homeware market.
According to John Abrams, CEO of Venzee, “This partnership grew out of a highly successful implementation of Venzee’s Mesh Connector™ technology that significantly improved product data delivery for a global furniture brand. We know our platform outperforms other solutions in the market when a retailer takes note and wants to adopt and deploy Venzee’s technology across their entire supplier base.”
The partnership will help Venzee further scale its brand and retail client base, immediately expanding the Company’s services to more than 200 of the retailer’s key brand suppliers.
This development represents the “Venzee Network Effect,” which describes how the Company leverages partnerships with brands, who engage retailers, who then engage other brands to create a virtuous cycle that continuously expands Venzee’s client base.
“Venzee’s clients recognize the power of our platform,” said Mr. Abrams. “This brand saw results that increased the efficiency of their business and realized they can further accelerate sales by introducing Venzee to their many retailers that still use outdated methods to collect product data.”
Mr. Abrams continued, “The opportunity for Venzee to further engage these 200 brands to expand their distribution to additional retailers is in the thousands. When these brands recognize the cost-effective benefits associated with automating their global distribution through Venzee, they will likely seek further optimization for their existing distribution channels by integrating with our technology. These are the types of partnerships that can rapidly scale Venzee’s client base and active connections and we are very pleased to secure this partnership for the benefit of all companies involved.”
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 or e-commerce 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.
Venzee (TSX-V: VENZ | OTCQB: VENZF) is a product content 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 Venzee, visit https://venzee.com/
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On Behalf of the Board,
Chief Operating Officer
For more information, contact:
Venzee Technologies, Inc.
Stonegate Capital Partners
Investor Relations (U.S.)
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.
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SOURCE Venzee Technologies, Inc.