Ackroo continues U.S. expansion

Rhea-AI Summary

Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) reported a significant increase in US-based revenues, now representing over 10% of total revenues, marking a 50% increase from 2020. The company services nearly 1,800 clients across 5,300 locations in North America. To support this growth, Ackroo has hired sales operations consultants in Florida and is exploring partnerships to enhance its market presence. CEO Steve Levely emphasized US expansion as a key priority for the company.

Positive

• US-based revenues increased to over 10% of total revenues, a 50% increase from 2020.
• Ackroo services nearly 1,800 clients across 5,300 locations in North America.
• New hiring of sales operations consultants in Florida to drive US growth.

Negative

• None.

Ackroo increases US based revenues and adds talent

HAMILTON, Ontario, July 16, 2021 (GLOBE NEWSWIRE) -- Ackroo Inc. (the “Company” or “Ackroo”) (TSX-V: AKR) (OTC: AKRFF), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to announce that after their last acquisition they have grown their percentage of both clients and revenues to just over 10% in the United States with the other 90% across Canada. This represents close to a 50% increase over the percentage of customers and revenues the Company managed at the end of 2020. Ackroo now services close to 1,800 clients and 5,300 locations across North America and in an effort to continue their US expansion they have recently hired sales operations consultants based in Florida to help drive continued growth in this very large market.

“Further expansion into the US market is a key priority for Ackroo,” said Steve Levely, CEO of Ackroo. “One of the main drivers in our decision to acquire InterActive DMS was the opportunity to gain a much larger presence south of the border. We have clients using our marketing platform that are based in the US however the percentage has not been significant enough to invest in areas like staffing. With over 10% of our revenues and customers now based in the US it was time to start adding US based talent and so we have recently hired consultants based in Florida to help support and drive sales growth for us. We are also in talks with several new US based partners for our marketing, payment and point-of-sale offerings and expect some great organic growth to come from these new relationships.”

About Ackroo
Through vendor and industry consolidation, Ackroo provides marketing, payment and point-of-sale solutions for merchants of all sizes. Ackroo’s self-serve, data driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale in order to attract, engage and grow their customers while increasing their revenues and margins. Ackroo’s payment services provide merchants with low-cost payment processing options through some of the world’s largest payment technology and service providers. Ackroo’s hybrid management and point-of-sale solutions help manage and optimize the general operations for niche industry’s including golf clubs, automotive dealers and more. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.

For information, please contact:

Steve Levely Chief Executive Officer | Ackroo Tel: 416-360-5619 x730 Email: slevely@ackroo.com

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the company’s ability to raise enough capital to support the company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

FAQ

What percentage of Ackroo's revenues now comes from the US as of July 2021?

Ackroo's US-based revenues now represent over 10% of total revenues.

How many clients does Ackroo service across North America?

Ackroo services nearly 1,800 clients across 5,300 locations in North America.

What are Ackroo's plans for US market expansion?

Ackroo plans to expand its US market presence by hiring sales consultants and seeking new partnerships.

What was the percentage increase in Ackroo's US revenues from 2020?

Ackroo saw a 50% increase in the percentage of US revenues since the end of 2020.