MediaValet Completes V4 Migration, Dramatically Increasing Customer Value and User-Experience, While Reducing Operating Costs

MediaValet Completes V4 Migration, Dramatically Increasing Customer Value and User-Experience, While Reducing Operating Costs

Vancouver, BC – September 26th, 2018 - MediaValet Inc. (TSX-V:MVP), a leading provider of cloud-based enterprise digital asset management (DAM) software, is proud to announce that it has completed migrating 100% of existing customers to its upgraded platform, MediaValet V4, announced in May 2018. All MediaValet customers now benefit from V4’s benchmark application speed and platform scalability, along with powerful new innovative features, including Advanced Search, Multi-Libraries, and in-app Interactive User Guides.

“V4 is the single largest R&D project we’ve completed in the history in MediaValet,” commented David MacLaren, Founder and CEO of MediaValet. “Today, we offer the fastest, 100% cloud-based, enterprise-class, DAM system - on the planet! We’re available in-country, on more data centres, than any other DAM; And, we’re the only DAM that offers unlimited users, support and training, triple redundancy and geo-replication. We do all of this and still adhere to the highest security standards in North America and Europe.  As our competitors are realizing, it’s simply hard to ignore us today. Thanks to V4 and the hard work of our R&D team, our sales funnel and conversion rates are the highest they’ve ever been.”

Migrating from V3 to V4 was a significant milestone for MediaValet as it represents a complete backend rewrite using Microsoft’s next generation cloud application platform, Azure Service Fabric. This is the same foundational platform at the heart of various core Microsoft Azure products, including SQL and Cosmos DB databases, and Event and IoT Hubs. In addition to providing a longer planning horizon for architectural and infrastructure product updates, some of the other benefits to MediaValet and its customers include:

  • Accelerated System Performance – V4 delivers unrivalled system speed, with search times >50% faster than V3, and sustained asset ingestion rates increasing to an average of 1.7 TBs per day per org unit.

“V4’s speed boggles the mind! Sometimes I forget MediaValet’s a cloud-based application as it feels more like an on-prem solution; and in many cases, it even beats those,” commented James Word, Business Analyst at IO Integration.

  • Advanced Integration and Increased Adoption – Gartner reported MediaValet as having more enterprise focus in its customer mix compared to its direct competitors. V4 delivers enhanced functionality, enabling these enterprise customers to access all of MediaValet’s features, as micro-services, through its industry leading API. As a result, MediaValet’s developer community has more than doubled since V4 launched.
  • Enhanced Security – Already a leading vendor for organizations that highly value security, V4 enhances application level security by leveraging Azure KeyVault for data protection and compliance. MediaValet now uses HTTP Strict Transport Security (HSTS) to increase protection for customers against protocol downgrade attacks and cookie hijacking.
  • Increased Innovation and Efficiency at Scale – Event-based architecture and implementation of microservices enables MediaValet to innovate faster and to achieve higher compute density, resulting in 45% cost efficiency at scale compared to the classic cloud compute infrastructure.

“What previously took us months of coding can now be done in a matter of days, enabling us to innovate and address customer requests at lightening speeds and at less cost,” commented Jean Lozano, CTO of MediaValet.

Continued Mr. MacLaren, “We set out to make the next evolution of MediaValet truly ground-breaking. With the overwhelmingly positive feedback we’ve received from customers managing from as little as a few 100 GBs to well over 50 TBs, across teams of dozens to tens of thousands, believe we’ve not only achieved this goal, but have gone well beyond. In addition to the positive feedback, we’re also seeing customer adoption and usage numbers steadily increasing.  We believe this is the ultimate measure of a system’s success.”

Mr. MacLaren added, “From a cost perspective, we’re now able to reduce our operating costs, while still continuing to provide the industry leading levels of support and innovation for which we are known. With V3 being fully retired, we expect to see an annualized reduction in cost-of-sales of $150,000, bringing gross margin back to a healthy 80% range. In addition, we are now able to lock in an annualized reduction of $400,000 in R&D costs compared to fiscal 2017 levels. With all legacy platform code now retired, we’re able to achieve this cost savings without sacrificing our innovation roadmap which includes a multitude of exciting new features in the months to come. We expect that these innovations will further increase growth rate, our market share, and our customer adoption.”

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 DAM capabilities and local desktop-to-cloud support for creative teams, MediaValet offers industry leading integrations into Slack, Adobe Creative Suite, Microsoft Office 365, Oracle Marketing Cloud (Eloqua), Drupal 8, WordPress, Hootsuite and many other best-in-class 3rd party applications.

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For further information, please contact:
David MacLaren
Tel: (604) 688-2321
david.maclaren@mediavalet.com

Babak Pedram
Tel: (416) 644-5081
babak.pedram@mediavalet.com

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

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