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Vancouver, British Columbia--(Newsfile Corp. - February 20, 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 continues to see strong sales momentum in the manufacturing sector, with new customer billings in Q4'19 growing 33% over Q4'18, and growing 123% for the year. The sector now represents 14% of the Company's Annual Recurring Revenue ("ARR").
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With the majority of enterprise manufacturing organizations having a firm and long-standing Microsoft IT strategy, additions to their software stacks require vendors to have a similar product focus. This alignment ensures compliance and maintains an industry-leading level of security, redundancy and availability. MediaValet's DAM software is well positioned to address the needs of these organizations, as it's built exclusively on Microsoft Azure.
"We believe that being the vendor of choice for these organizations reflects our commitment to Microsoft technologies and our strong fit for manufacturing use cases," said David MacLaren, Founder & CEO of MediaValet. "MediaValet's DAM is designed in a way that makes intuitive sense within their environments; providing unlimited users, administrators, categories, attributes, keywords and portals. This ensures manufacturing customers can confidently adopt the system and empower an unlimited number of product owners to own the digital experience for their specific product lines. One of our largest customers has used our unlimited category feature to create a mind-blowing 400,000+ nested product relationships - without coming anywhere near close to stressing the limits of our scalability. Another uploaded over five million media assets to MediaValet in less than a month. These numbers are simply unheard of in the emerging cloud DAM industry, and are critical to supporting enterprise organizations that are rapidly making the move to the cloud."
Continued Mr. MacLaren, "We're finding this trend to be the same across all major industries, enabling us to continue to grow our market share and lead in the enterprise DAM-Cloud space. This led to some exciting milestones for us in 2019, including achieving net customer retention rates above 100%, and growing our ARR by an expected 82% to 85% over last year."
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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52626