TORONTO, Sept. 22, 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 an excellent start to its
Fiscal Year 2022 in terms of new and existing customer expansion
growth.
"In the past year, we have seen Interactive Personalized Video
(IPV) becoming a core capability for Sales, Marketing and Customer
Communications Management. This is a shift from the early days in
which sales cycles were highly evangelical and required significant
customer education. The dialogue has shifted. Customers understand
the power of our IPV platform – IndiVideo - and want to
engage in conversations to determine how to get the most value,"
said Steve Taylor, CEO of
BlueRush.
Since the beginning of Fiscal Year 2022, (which commenced
August 1st, 2021), the
Company has booked the following ARR. These bookings are expected
to have similar gross margins to existing subscriptions.
Top 15 Bank in North
America – $60,000 ARR
initial contract
- Solution: Efficient onboarding customers to the Wealth
Management platform, reducing call centre support and increasing
customer satisfaction
- New customer win providing an opportunity to grow the
relationship as we have done successfully and repeatedly with
customers of this size over past periods
Global Top 5 Asset Manager (Contract 1) –
$76,800 ARR
- Solution: Young Investors – the customer is deploying IndiVideo
as part of a strategy to attract and engage the next generation of
investors
- ARR expansion with existing customer
Global Top 5 Asset Manager (Contract 2) –
$76,800 ARR
- Business Problem: Workplace Investing – guiding and encouraging
workplace investing, 401K's
- ARR expansion with existing customer
Fortune 50 Insurance Provider – $70,400 ARR
- Business Problem: Various – this is an expansion of an
Enterprise Agreement. This means the customer, with assistance from
BlueRush, plans and executes their own programs and have
implemented IndiVideo to support several customer acquisition,
renewal and support objectives
These new customer and existing client expansion wins are driven
by several factors, creating a tailwind for BlueRush. "Successful
metrics with existing customers, an increasing market appetite for
IPV and continuous improvements to our sales and marketing efforts
are helping us grow the funnel, shorten sales cycles and maintain
our enviable retention rates," continued 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.