BlueRush Announces Several Strategic Contract Wins and Expanded SaaS Bookings of $284,000 at Midpoint of First Quarter
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.
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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.
SOURCE BlueRush Inc.
Company Contact: BlueRush Inc., Steve Taylor, CEO, Tel: 416-457-9391, Email: [email protected]; Investor Relations Contact: Skyline Corporate Communications Group, LLC, Lisa Gray, Senior Account Manager, One Rockefeller Plaza, 10th Floor, New York, NY 10020 USA, Office: (646) 893-5835, Email: [email protected]
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