Vancouver, BC – October 2nd, 2019 – MediaValet Inc. (TSX-V:MVP) (“the Company”), a leading provider of cloud-based enterprise digital asset management (DAM) and creative operations software, is proud to announce that it was selected by a top North American university and was awarded a contract of over $65,000 for DAM plus CreativeSPACES™ (“SPACES"). Digitization and digital marketing has become a key part of branding for higher education (“Higher-Ed”) organizations, which continues to drive demand for DAM. The Higher-Ed market represents more than 10% of MediaValet’s annual recurring revenue, up 29% in the last year.
As a result of an audit of their marketing technology stack, and the needs of their 30-person creative group, the university’s marketing team began to look for a DAM to replace their legacy file management system. Their current creative process and systems were unable to comply with the university’s web content access requirements and lacked core functionality, such as meta-tagging, advanced search capabilities and broad access. At the same time, the marketing team was seeking to implement a new project management tool to streamline their entire workflow process and required a DAM that could easily integrate with their new tech stack. In addition, with more than 12 schools within the university, the solution also needed to support institution-wide digital strategies across multiple schools, colleges, campuses, faculties and departments, as well as global partners and vendors.
“MediaValet exists to solve the complex and broad needs of today’s digital organizations,” stated David MacLaren, Founder and CEO of MediaValet. “Built to meet enterprise-class requirements, without compromising innovation, ease-of-use, speed and user adoption, we have succeeded in supporting organizations across all verticals and geographies. In addition, with our innovative SPACES module, we are uniquely positioned to extend the DAM use case to include creative operations and valuable work-in-process assets. Our ability to address the university’s creative process and compliance requirements, along with our deep understanding of their needs as a Higher-Ed organization, was key in their decision to select MediaValet. We are honored to have been selected and are encouraged that our product strategy is achieving the desired competitive differentiation.”
Continued Mr. MacLaren, “SPACES is an example of our innovative, customer-centric approach. It was born out of efforts to solve unmet challenges faced by our customers, and is the result of deep collaboration with a project-based customer advisory board. Since its launch in May 2018, we have continued to evolve SPACES with regular feature and system enhancements, and it has become a key factor in our accelerating growth. New customer wins with SPACES are up 248% this year to date, account for 27% of business and have an average contract size that is more than double our average.”
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise, cloud-based digital asset management industry. 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.