Venzee Announces 87% Surge in Product Data Submissions from Consumer Brands

Rhea-AI Summary

Venzee Technologies Inc. (TSXV: VENZ, OTCQB: VENZF) reported an 87% increase in product data submissions from consumer brands since July 2021. This growth is attributed to rising sales of its Mesh Connector™ technology, which streamlines data management between brands and retailers. The company emphasizes the value of its AI platform in reducing costs and accelerating market entry for clients. CEO John Abrams highlighted the 'Network Effect' akin to major platforms like Amazon, fostering further expansion in a digital supply chain landscape.

Positive

• 87% increase in product data submissions since July 2021.
• Growing sales of Mesh Connector™ technology enhance platform usage.
• AI platform reduces data management costs and accelerates time to market.
• Strategic positioning to benefit from digital supply chain transformations.

Negative

• None.

Increased client onboarding drives platform growth

CHICAGO, Sept. 23, 2021 /PRNewswire/ - Venzee Technologies Inc. (TSXV: VENZ) (OTCQB: VENZF) ("Venzee" or the "Company"), the artificial intelligence (AI) platform for product data, announces an 87% increase in product data submissions from consumer brands since July 2021.

Increasing product data submissions are the result of growing Mesh Connector™ sales and the velocity with which the Company's AI platform efficiently sends product data from brands to retailers. This is a clear demonstration of how Venzee's value proposition is increasingly attractive to new and existing customers as it reduces costs associated with data management and accelerates revenues by increasing speed to market.

According to Chad Kaczmarek, Senior Director of Integrations at Venzee, "This growth would not be possible without our revolutionary AI platform. This 87% increase in product data submissions reinforces the importance of Venzee's investment in developing better technology over exponential resource growth to keep up with increased sales. Our advanced onboarding program provides customers with an easier, more efficient experience which also helps Venzee outpace competition and flex to surging sales."

According to DigitalCom360, the top 100 online marketplaces accounted for $2.67 trillion of sales in 2020. Venzee Mesh Connectors™ enable brands and manufacturers to upload their entire catalogue of products and digital product attributes to over 400 of Venzee's top retail and e-tailer connections with a single click. This eliminates timely, costly and error-prone manual processes used by brands so they can quickly upload hundreds of thousands of units of product data to thousands of retailers.

John Abrams, CEO of Venzee, said, "As we continue to add new brand and retail clients to our platform, the value our platform provides to those clients increases. The same 'Network Effect' we see reflected in our recent surge numbers has been the growth catalyst for global platforms such as Amazon, eBay, Uber, and other disruptive and massively valuable solutions."

Mr. Abrams continued, "We believe brands and retailers that fail to digitally transform their supply chains to meet customer demand for more detailed, accurate product information will be displaced by those embracing modern technology platforms such as ours to survive in the new age of digital supply chain."

Radically simpler than alternatives, Venzee's Mesh Connectors™ are unique in the market, system agnostic and infinitely scalable. Venzee's intelligent platform offers partners and brands a reliable, machine-to-machine interface that accelerates the distribution of product information to any retail or e-commerce destination.

With more than 400 retail Mesh Connectors™ instantly available to brands, Venzee has become an important tool in the simplification and automation of syndication processes for consumer brands globally.

About Venzee Technologies, Inc.

Venzee (TSXV: VENZ) (OTCQB: VENZF) is the leading artificial intelligence platform for product data used by global brands to speed time to market and create competitive supply chain advantages. Venzee's intelligent platform automates inefficient last-mile retail processes with a frictionless, machine-driven solution for sending and receiving product data.

Venzee believes intelligent supply chain functionality is inevitable and will significantly benefit growers, makers, brands, sellers, regulators, and consumers. Venzee is building the foundation for a future where seamless, accurate, automated data flow simplifies processes, removes friction, and creates value for all those that rely on the myriad of data and information surrounding any product, anywhere.

Venzee unlocks shareholder value by carrying out its mission to create intelligent technology that removes friction from the global supply chain. Its Mesh Connector™ product disrupts and displaces inefficient manual processes in favor of integrated, machine-driven solutions.

To learn more about the Venzee platform, visit venzee.com.

Twitter: @usevenzee
LinkedIn: https://www.linkedin.com/company/venzee-inc/
Podcast: https://www.venzee.com/resources/podcast

On Behalf of the Board,

Peter Montross
Chief Operating Officer

Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the terms of the Offering, the completion of the Offering and the expected use of the net proceeds received by the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's management's discussion and analysis for the year ended December 31, 2018, and the quarter ended August 29, 2019, which are available under the Company's SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.

The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Venzee Technologies Inc.

FAQ

What recent growth has Venzee Technologies reported in product data submissions?

Venzee Technologies announced an 87% increase in product data submissions from consumer brands since July 2021.

How does Venzee's Mesh Connector™ impact product data management?

The Mesh Connector™ technology simplifies and accelerates the submission process, reducing costs and increasing efficiency for brands.

What is the significance of the 'Network Effect' for Venzee Technologies?

The 'Network Effect' indicates that as more brands and retailers join Venzee's platform, the value increases for all users, similar to major platforms like Amazon.

How does Venzee Technologies position itself in the digital supply chain?

Venzee aims to enhance its relevance by providing solutions that streamline data distribution, helping brands and retailers meet customer demands for detailed product information.

What stock symbols represent Venzee Technologies?

Venzee Technologies is represented by the ticker symbols TSXV: VENZ and OTCQB: VENZF.