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MediaValet Announces Existing Customer Expansion

3 min read

Couple high fiving

Vancouver, BC – March 19th, 2020 – MediaValet Inc. (TSX-V:MVP) (“MediaValet” or the “Company”), a leading provider of enterprise digital asset management (“DAM”) and creative operations software, announces that expansion amongst its existing customers continues to be strong in its first quarter of fiscal 2020. Effective March 15, 2020, one of the Company’s largest customers has expanded their DAM initiative to support additional libraries of high-value media assets throughout their business, increasing their annual license by more than $190,000.

“As our services continue to mature and we increase the number of use-cases that we address, we’re seeing our existing customer base expand their use of MediaValet across their organizations,” commented David MacLaren, Founder and CEO of MediaValet. “For many of our customers today, we’ve moved away from marketing to become a fundamental component of their IT infrastructure; and we’re extremely proud to be one of the critical solutions they’re relying on to support their teams as they move to working remotely for the next few months. In the past couple of years, DAM has been steadily moving up the priority stack as today’s organizations rely more and more on digital media to conduct their business. In light of recent events, we believe the value of a Cloud DAM is becoming more apparent as organizations transition to work-from-home and virtual work environments. We expect that as we continue to provide uninterrupted and essential Cloud DAM services for our customers, expansions like the one announced today will have us well-positioned to deliver another year of net retention above 100%.”

Continued Mr. MacLaren, “We are committed to ensuring our customers continue to receive the high level of support and service for which we are known. Being built exclusively on Microsoft’s Azure Cloud Platform has enabled us to continue to provide uninterrupted services to our customers while rapidly implementing our work-from-home business continuity plan. Over the last two weeks, we’ve implemented this plan without any interruption in our operations. During these uncertain times, we’re grateful to have planned well ahead for a variety of potential disasters, for a strong balance sheet and healthy recurring revenue base, and for a product and team that will help our customers successfully navigate what lays ahead.”

About MediaValet Inc.
MediaValet stands at the forefront of the enterprise, cloud-based digital asset management and creative operations industries. 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.