Venzee Technologies Inc., the artificial intelligence (AI) platform for product data, is pleased to announce an upfront revenue-based contract with a leading global provider of digital product content solutions.
The new Venzee client, a leading provider of retail solutions to major retail brands, is trusted globally to accurately convey product information for tens of millions of retail goods across major consumer markets in North America, the European Union, and Asia-Pacific regions.
Contracting for Venzee’s AI-based services will help the partner accelerate and scale product data distribution to its many brands actively looking for modern, platform-based supply chain solutions driven by intelligent technology rather than human labor.
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Venzee CEO John Abrams said, “Though Venzee is young in the market, this contract is another example proving Venzee’s advanced technology fills a void that the largest brands and retailers in the world struggle to fill. It is very exciting that after only a year of being in the market, we are already winning engagements with the largest digital content providers serving the top tier of global Fortune 500 companies. These are companies that could require hundreds — even thousands — of retailer connections that need the advantage our platform provides in the delivery of up-to-date and relevant digital product content.”
As part of the client’s Initial Onboarding, a set of multinational brands — using a single data model — mapped to and activated several retail Mesh Connectors™, demonstrating Venzee’s ability to offer rapid Mesh Connector™ deployment across a broad, global base of brands.
According to Joel Carstedt, Senior Director of Sales at Venzee, “The speed at which we are able to activate numerous Mesh Connectors™ under this agreement validates Venzee’s intelligent technology as a critical last mile component in the digital supply chain, opening additional growth opportunity and significant revenue scale for Venzee.”
Additionally, the Company discloses it is in advanced contract negotiations with two additional content service providers, which, if secured — with immediate Initial Onboarding commitments — suggest a combined sales opportunity well in excess of the Company’s 2022 ambitious revenue goals. There is no certainty that these partnerships will close.
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The announced contract unlocks massive revenue scale with the total opportunity identified in excess of Venzee’s previously announced 2022 Mesh Connector™ sales goal of 13,000.
With more than 400 retail Mesh Connectors™ instantly available to brands, Venzee has become a revolutionary tool in the simplification and automation of syndication processes for consumer brands globally.