VerifyMe Appoints Proven Sales Leader David Sandello as Director of Sales & Business Development of North America

Rhea-AI Summary

VerifyMe, Inc. (NASDAQ: VRME) has appointed David Sandello as Director of Sales and Business Development for North America, aiming to expand revenue operations and accelerate growth. With 15 years of experience, Sandello previously served as Global Sales Director at De La Rue, successfully overseeing significant contracts across various industries. VerifyMe's technology solutions are witnessing increased demand amidst rising counterfeiting issues. CEO Patrick White emphasizes the importance of Sandello's leadership in scaling revenue during this growth phase.

Positive

• Appointment of David Sandello as Director of Sales expected to accelerate revenue growth.
• Sandello brings extensive experience in building and scaling revenue organizations.
• Increased demand for VerifyMe's solutions due to rising counterfeiting issues.

Negative

• None.

Previously Led Global Sales and Business Development Efforts at De La Rue, a Prestigious Security Printer

ROCHESTER, N.Y., Feb. 25, 2021 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (NASDAQ: VRME) (“VerifyMe,” “we,” “our,” or the “Company”), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, today announced that David Sandello has joined VerifyMe as Director of Sales and Business Development of North America to focus on expanding VerifyMe’s revenue operations and accelerate growth.

Mr. Sandello brings 15 years of experience building, scaling and leading revenue organizations including new sales and growth through existing account management teams. Most recently and notably he served as the Global Sales Director at De La Rue where he led a team covering the U.S., Europe and Asia. He secured and advanced programs across multiple industries ranging from pharmaceuticals to apparel, wine and spirits, cannabis, agriculture, and electronics industry players producing millions of dollars in contract value with some of the world’s most recognizable brands. He previously held sales and business development positions at INCOPRO, OpSec Security, Entercom and FIBA Technologies.

“Anti-counterfeit, track and trace and brand protection have taken our target markets by storm and we’re experiencing increased demand for our technology solutions accelerate,” said Patrick White, VerifyMe’s President and Chief Executive Officer. “Given the size of our addressable markets, it is critical that we establish leadership with experience in scaling revenue operations and David Sandello is a perfect fit to lead that role. Building and leading a revenue organization through all phases of growth is a rare skillset and I couldn’t be more excited to have David help lead VerifyMe through this phase of accelerating growth.”

“I was attracted to VerifyMe because of their 360 degree approach to customers’ needs, combined with the scale of the market opportunity creating an extremely unique position which is very much needed in our space,” added David Sandello. “Counterfeit issues are accelerating across many different industries affecting global brands. VerifyMe’s technology has the ability to combat counterfeits, and help brands protect their name, products and customers. I believe VerifyMe’s is set up for an amazing opportunity to achieve accelerated growth and rapidly scale revenues through new customer acquisition as well as existing customer growth. VerifyMe has already established key partnerships and large reference customers, and I am extremely excited to join the Company at such an exciting phase of growth.”

About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), is a technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products. VerifyMe’s physical technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track and trace software known as VeriPAS™ that allows both consumers and brand inspectors to verify authenticity with their smartphones. VeriPAS™ is a serialization software system that brand owners access through a web portal to monitor, control and protect their products complete life cycle. To learn more, visit www.verifyme.com.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements regarding revenue opportunities, the use of our products in additional devices and locations, the results of ongoing tests, and roll-out of our products and authentication devices. The words "believe," "may," “estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the impact of the COVID-19 pandemic, intellectual property litigation, the successful development of our sales and marketing capabilities, our ability to retain key management personnel, our ability to work with partners in selling our technologies to businesses, production difficulties, our inability to enter into contracts and arrangements with future partners, issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies and the efficiency of our authenticators in the field. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2019 and the Quarterly Report on Form 10-Q for the three months ended September 30, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

For Licensing or Other Information Contact:
Company: VerifyMe, Inc.
Email: IR@verifyme.com
Website: http://www.verifyme.com

Investors:
ClearThink
nyc@clearthink.capital

FAQ

Who is David Sandello in relation to VerifyMe?

David Sandello has been appointed as the Director of Sales and Business Development for North America at VerifyMe.

What experience does David Sandello bring to VerifyMe?

David Sandello brings 15 years of experience in leading revenue organizations, notably as Global Sales Director at De La Rue.

Why did VerifyMe appoint David Sandello?

VerifyMe appointed David Sandello to expand revenue operations and capitalize on increased market demand for anti-counterfeit technologies.

What does VerifyMe do?

VerifyMe provides brand protection solutions focusing on counterfeit prevention, authentication, serialization, and track and trace capabilities.

What impact is expected from David Sandello's appointment at VerifyMe?

His appointment is expected to accelerate growth and enhance revenue operations at VerifyMe.