TORONTO, Sept. 9, 2021 /CNW/ - BlueRush Inc.
("BlueRush" or the "Company") (TSXV: BTV) (OTCQB:
BTVRF), an emerging personalized video Software as a Service (SaaS)
company, is pleased to announce significant recent growth in
subscription bookings..
BlueRush added $1,057,963 of new
and expansion subscription bookings in fiscal 2021. These bookings
are expected to have similar gross margins to existing
subscriptions.
New bookings – New logo customers accounted for
$260,951 and $812,456 of additional subscription bookings in
Q4 2021 and fiscal 2021, respectively. New bookings is an important
metric as it demonstrates the Company's ability to secure new
customers. New customer examples include:
- Enhancing customer statements - Major U.S. insurer,
secured through one of the Company's US-based channel partners,
utilizing IndiVideo to turn basic statements into an important
touchpoint with their customers
- Wealth manager sales enablement - Leading U.S. fintech
solution provider arming wealth managers with IndiVideo to enhance
their ability to engage new and existing clients
- Supporting new insurance product launch - Leading
Mexican insurance provider leveraging IndiVideo to launch and sell
a new insurance product
Expansion bookings - Our existing customers
accounted for $245,507 in expansion
subscription bookings in fiscal 2021. Expansion bookings is a
significant health indicator as it indicates that existing
customers see value in the technology and support they receive from
BlueRush, leading to incremental revenue. Select examples
include:
- Boosting sales for automotive insurance - Top 10 North
American Bank will leverage IndiVideo to support automotive
insurance sales
- Amplifying direct marketing - Leading Retirement Fund,
based on a 3X lift in email opening rates, is increasing their
spend on IndiVideo to support additional direct marketing
projects
- Increasing digital performance -
Retirement plan provider, and one of America's oldest fiduciaries,
expanding their use of IndiVideo to enhance their digital
engagement strategy
"Historically, there has been a lag between our July 31 year end and our disclosure of year end
results and so, going forward, BlueRush will provide an interim
financial update to ensure our shareholders have a current view on
the significant progress the company is making. We are particularly
pleased to see such a strong mix of results coming from new logo
customers as well as from expanded relationships with our existing
customer base," said Steve Taylor,
CEO of BlueRush.
"Personalized video is at an inflection point. We are seeing
more and more inbound inquiries as companies have started embracing
this technology as a core part of their marketing and sales
toolset. Our continued momentum in direct sales, customer expansion
and channel activities position BlueRush extremely well to exploit
this exciting market opportunity and create value for our
shareholders," concluded Mr. Taylor.
About BlueRush
BlueRush develops and markets IndiVideo™, a
disruptive, award-winning interactive personalized video platform
that drives return on investment throughout the customer lifecycle,
from increased conversions to more engaging statements and customer
care. IndiVideo enables BlueRush clients to
capture knowledge and data from their customers' video interaction,
creating new and compelling data driven customer
insights.
For more information visit: http://www.bluerush.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
Certain statements contained in this press release may
constitute "forward-looking information" as such term is defined
in applicable Canadian securities legislation. The words "may",
"would", "could", "should", "potential", "will", "seek",
"intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions as they relate to the Company, including,
without limitation, statements with respect to the Company's
anticipations and outlook or guidance in respect of various
financial metrics, including bookings and gross margins, are
intended to identify forward-looking information. All statements
other than statements of historical fact may be forward-looking
information. Such statements reflect the Company's current views
and intentions with respect to future events, and current
information available to the Company, and are subject to certain
risks, uncertainties and assumptions. Material factors or
assumptions were applied in providing forward-looking information.
Many factors could cause the actual results, performance or
achievements that may be expressed or implied by such
forward-looking information to vary from those described herein
should one or more of these risks or uncertainties materialize.
These factors include, without limitation: changes in law; the
ability to implement business strategies and pursue business
opportunities; state of the capital markets; the availability of
funds and resources to pursue operations; a novel business model;
dependence on key suppliers and local partners; competition; the
outcome and cost of any litigation; the general impact of the
COVID-19 pandemic; as well as general economic, market and
business conditions, as well as those risk factors discussed or
referred to in disclosure documents filed by the Company with
the securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should any factor affect the Company in an
unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or
events may differ materially from the results or events
predicted. Any such forward-looking information is expressly
qualified in its entirety by this cautionary statement. Moreover,
the Company does not assume responsibility for the accuracy or
completeness of such forward-looking information. The
forward-looking information included in this press release is
made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking information, other than as required by
applicable law.
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SOURCE BlueRush Inc.