MediaValet Announces Record Customer Adoption and Expansion
Vancouver, British Columbia--(Newsfile Corp. - January 8, 2020) - MediaValet Inc. (TSXV: MVP) ("MediaValet" or the "Company"), a leading provider of cloud-based enterprise digital asset management ("DAM") and creative operations software, announces that it has achieved record customer adoption and expansion levels in Q4, including expanded services and a three-year renewal term with one of its largest customers upon their first renewal date. As a result, total existing customer billings for the fourth quarter are expected to exceed contracted renewal amounts by 30%, and net retention for the year is expected to exceed 100%.
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"We're extremely proud of our customer performance metrics," stated David MacLaren, Founder and CEO of MediaValet. "They are a clear indication that the maturity and depth of our product offerings are being acknowledged by the market and our customer base. As a SaaS company, we closely track and measure metrics such as our net retention, ACV, LTV, and CAC Ratio, all of which are top percentile across SaaS companies. We attribute our industry-leading performance to our long-term commitment to our customers and to the overall DAM industry; we're here to stay and we intend to continue to push the boundaries of DAM, user experience and customer success. We truly believe this commitment, and our ability to continually deliver, sets us apart in the DAM industry."
Mr. MacLaren continued, "It is one thing to win new customers based on our sales and marketing process, product demos and customer references, it's truly another to expand customers' usage and to build the confidence required for them to renew for multiple years after their first anniversary. We take user experience and customer success very seriously and see it as critical to building a long-term, successful, Software-as-a-Service business. To this end, I'm honored that our net retention for fiscal 2019 is expected to be in excess of 100%. This is a major milestone for SaaS companies and sets the stage for an exciting year ahead for MediaValet."
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise, cloud-based digital asset management and creative operations industries. Built exclusively on Microsoft Azure and available within 140 countries across 54 Microsoft data center regions around the world, MediaValet delivers unparalleled enterprise-class security, reliability, redundancy and scalability while offering the largest global footprint of any DAM solution. In addition to providing all core enterprise DAM capabilities, local desktop-to-server support for creative teams, and overall cloud redundancy and management for all source, WIP and final assets, MediaValet offers industry-leading integrations into Slack, Adobe Creative Suite, Microsoft Office 365, WorkFront, Wrike, Drupal 8, WordPress, Hootsuite and many other best-in-class 3rd party applications.
For further information, please contact:
Tel: (604) 688-2321
Tel: (416) 644-5081
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