MediaValet Selected By a Global Leader in Home Audio

Carlie Hill

Vancouver, BC – October 21st, 2021 – MediaValet Inc. (TSX: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) platform solutions were selected by a U.S. based global leader in smart home audio solutions (the “Customer”). Commencing September 30th, 2021, the first-year billing of $90,000 includes an auto-renewing subscription ("Subscription") to MediaValet’s core digital asset management (“DAM”) platform; its creative operations platform, CreativeSPACES™; its AutoCAD and Okta Single Sign-on integrations; and professional services covering implementation, and ongoing training and support.

The Customer operates in over 60 countries with nearly 1,500 employees, has an extensive patented technology portfolio, generates over U$2Bn in revenue, and sells through thousands of online and physical retailers and partners. Their global brand team realized that their mission to revolutionalize home audio and to continue growing their global market would require them to level up their digital operations by replacing their various file management solutions with a single enterprise digital asset management platform. After a competitive bid process, MediaValet was selected for its commitment to innovation and for its vision of where DAM - as an industry and as a platform - is headed.

“DAM is the future foundation of all organizations’ IT stacks – not just those of marketing departments. The accessibility, security and continuity of organizations’ digital assets can no longer be ignored, as doing so is severely hindering organizations’ overall performance and their ability to scale effectively,” commented David MacLaren, Founder and CEO of MediaValet. “While many organizations remain cautious due to the current economic climate, many others are taking advantage of the same climate to prepare their IT infrastructure for the next economic cycle.”

“We’re proud to add yet another renowned household brand to our customer list and to be selected over our biggest competitors after a rigorous selection process. Throughout 2021, we’ve been adding, on average, over 25 new customers per quarter - up from just 18 per quarter in 2020. We’re cautiously optimistic that the increasing momentum will continue in 2022 as the global economy strengthens and more organizations return to investing in their futures. This optimism is also supported by Research and Markets’s recently released 2021 DAM Global Market Report in which they estimate the DAM market to be U$4.3Bn in 2021[1] and on its way to U$10.02Bn by 2026[2].”

Mr. MacLaren continued, “We pride ourselves on our innovation and our laser-focus on uniquely solving the enterprise DAM needs of organizations today - and in the future. By providing an intuitive, easy-to-adopt, cloud-native, enterprise DAM platform that can scale from the smallest of customers to the largest, most complex organizations, we believe that we are uniquely positioned to continue leading in the DAM market. Winning the trust of customers like the one announced today is a testament to this vision and opportunity – which has enabled us to grow at a rate that is more than twice what Research and Markets estimates the global DAM market to be growing. With growth capital in place, we have been investing heavily in our team with a view to double our operational infrastructure; we are excited by the possibilities this creates for our customers, employees, partners and shareholders.”

[1] Research and Markets; Digital Asset Management Global Market Report 2021: COVID-19 Implications and Growth
[2] Research and Markets; Digital Asset Management Market - Forecasts from 2021 to 2026

About MediaValet Inc.
MediaValet stands at the forefront of the cloud-native, software-as-a-service, enterprise 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, WordPress and many other best-in-class 3rd party applications.