MediaValet Announces Expansion by Large Not-for-Profit Customer
Vancouver, British Columbia--(Newsfile Corp. - March 28, 2022) - MediaValet Inc. (TSX: MVP) (the Company), a leading provider of enterprise digital asset management and creative operations software, is pleased to announce a $63,500 expansion under the master services agreement with one of its largest not-for-profit customers ("the Customer"). This is the first expansion of digital asset management ("DAM") services since signing the Customer in September 2020, increasing its ARR to $255,000 effective March 31, 2022.
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The original vision of the Customer was to implement a DAM capable of managing and archiving an extensive library, in a variety of media formats, and centralizing all of the organization's digital media in a highly secure, redundant and accessible global platform. The Customer's primary initiative in 2021 was to digitize priority assets, upload them to MediaValet, and apply Advanced Custom AI and AVI to help its team to sort, process and learn from its extensive collection of assets. The Customer chose MediaValet to leverage the latest in DAM, Cloud, and AI technologies, ensuring its past and future assets are preserved and easily discoverable for years to come.
"We're extremely honored and proud to be partnered with this not-for-profit Customer," commented David MacLaren, Founder and CEO of MediaValet. "Together, we are exploring how artificial intelligence, digital asset management and the Cloud can augment and revolutionize research and conservation at a global scale. Helping our customers solve real-world challenges with exciting new technologies not only helps us grow our revenue base directly, but also expands our competitive advantage, increases our win rate and average deal value, and validates our vision for DAM. This commitment to our customers' success and innovative approach has been rewarded with a net retention rate in excess of 100% for the past two consecutive quarters. We believe this is testament to our go-to-market strategy and our continued investment in product development and customer success."
Continued Mr. MacLaren, "We're building a differentiated enterprise DAM that can uniquely satisfy the needs of any size organization, in any industry, anywhere in the world. Today's announcement is yet another sign that our strategy is working; that our vision of connecting all departments throughout an organization with a foundational 'asset management layer' is resonating with organizations."
About MediaValet Inc.
MediaValet stands at the forefront of the cloud-native, software-as-a-service, enterprise digital asset management and creative operations industries. Built exclusively on Microsoft Azure and available across 61 Microsoft data center regions in 140 countries around the world, MediaValet delivers unparalleled enterprise-class security, reliability, redundancy, compliance, and scalability; while offering the largest global footprint of any DAM solution. In addition to providing enterprise, cloud-native DAM capabilities at a global scale, desktop-to-server-to-cloud 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, WordPress and many other best-in-class 3rd party applications.
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For further information, please contact:
David MacLaren
Tel: (604) 688-2321
david.maclaren@mediavalet.com
Babak Pedram
Tel: (416) 644-5081
babak.pedram@mediavalet.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118216
