MediaValet Announces Continued Momentum in High-Security Sectors
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2020) - MediaValet Inc. (TSXV: MVP) ("MediaValet" or the "Company"), a leading provider of enterprise digital asset management ("DAM") and creative operations software, announces that it is continuing to see strong sales momentum from customers in sectors requiring a high level of security and compliance. High-security sectors, such as financial, healthcare, government and legal, are expected to generate 30% of the Company's new recurring revenue in the fourth quarter, an increase of 390% over Q4'18; and for fiscal 2019, they're expected to generate 39% of total new recurring revenue, increasing 510% over the prior year.
To view an enhanced version of Figure 1, please visit:
High-security restricted customers added in Q4'19 included a global asset management company with over $1 trillion under management, a world-leading medical device manufacturer with over 6,000 employees, and a number of state and local government agencies and municipalities in the U.S. and Canada. Consistent with this customer type, the average contract size ranged up to 2.5 times the Company's current average customer size and includes a number of integrations and add-on modules, such as Active Directory or SAML connectors, Guided AI, integrations with 3rd party software solutions (such as Sitecore, Workfront, Wrike, Wordpress and Sharepoint), and CreativeSPACES™.
"When MediaValet was founded, our intent was to build a digital asset management system, exclusively in the Cloud, for organizations with millions of assets, tens of thousands of users and offices around the world," stated David MacLaren, Founder and CEO of MediaValet. "By no means did we envision one day working with some of the most secure institutions in the world. However, as our product continues to grow and mature, our target market is expanding - and our business is accelerating. Today, sectors like those with high security and compliance requirements are an ideal fit for MediaValet as our focus on core DAM allows us to provide a rich feature set around core DAM uses cases, like those in healthcare and government. Features such as our SAML integration, GDPR and SOC2 compliances, data residency guarantees (in more countries than any other DAM), and being built exclusively on Microsoft Azure, go a long way in ticking the boxes for the IT and compliance departments of enterprise organizations - across all industries."
Continued Mr. MacLaren, "We're committed to delivering the most scalable, secure, reliable and easy to use DAM on the market. Our rapidly growing customer base and low churn rates indicate that we're on the right path. We look forward to continuing this momentum as we work toward another breakout year both here in North America and abroad."
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
"Neither the 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."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52305