Vancouver, British Columbia--(Newsfile Corp. - March 1, 2021) - MediaValet Inc. (TSXV: MVP) ("MediaValet" or the "Company"), a leading provider of enterprise digital asset management and creative operations software, is pleased to announce that the Company's cloud-native, software-as-a-service (SaaS) solutions continue to gain market share in the global manufacturing sectors. Approximately $185,000 of the Company's new customer wins in the fourth quarter of 2020 were in the manufacturing industry, growing the vertical to nearly 15% of total recurring revenue.
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The new manufacturing customers all purchased subscriptions to MediaValet's enterprise cloud-native digital asset management solution, onboarding and integration services, and add-on modules including CreativeSPACES™, Adobe Creative Connector, and Azure Active Directory. MediaValet was selected for the security, redundancy and scalability of its industry-leading digital asset management platform that manages high-value media assets throughout their entire lifecycle; and its renowned, unlimited, one-to-one customer support and training.
"We feel at home in the manufacturing industry as we've helped a wide array of companies across the various manufacturing sub-sectors since our early beginnings in 2010," commented David MacLaren, Founder and CEO of MediaValet. "We're happy to have been able to reduce costs and increase operational efficiencies for our manufacturing customers. Although our offerings are not specifically industry-focused, over the last decade we've become very comfortable with the nuances of the various and diverse manufacturing sectors around the world. More so than ever, in today's media-rich, work-from-anywhere world, organizations need to have a strong, comprehensive digital strategy - and partners that understand their business and how their teams work. We believe this industry trend is agnostic and will continue to accelerate throughout 2021 and beyond as we put 2020 behind us."
Mr. MacLaren continued, "We've built our cloud-native SaaS solutions to address the enterprise digital asset management and creative operation use-cases being experienced by all sizes of organizations today, without the complexity, cost and time of traditional - and other cloud-based - enterprise DAM solutions. We've done this to significantly shorten customer time-to-value and increase overall customer ROI. Our approach makes enterprise DAM and creative operations solutions accessible to all organizations, no matter their scale or location, and clearly differentiates the Company from other enterprise DAM vendors. This is reflected in our customer base, which ranges from SMB to Fortune 1000 enterprise customers - the largest of which uses our software and services to manage over 8,000,000 digital assets in the cloud. This customer alone expanded their services by $81,000 in Q4'20, bringing their annual recurring revenue to $640,000. While the events of 2020 still weigh heavily on our global economy, we continue to see a promising level of new and existing customer activity, and believe we're well-positioned to accelerate our growth in 2021 and beyond as the economy recovers and organizations embrace the digital strategies they need to ensure their long-term success."
Manufacturing sub-sectors adopting the Company's cloud-native, enterprise SaaS digital asset management and creative operations solutions include petroleum, chemicals and plastics; clothing and textiles; electronics, computers and transportation; food production; wood and paper production; and metal manufacturing.
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise, cloud-native, software-as-a-service 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 8, WordPress and many other best-in-class 3rd party applications.
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