News | February 14, 2018

Amer Rugs, Premier Manufacturer Of Rugs, Chooses Venzee

Choosing Venzee Increases Speed to Market, Reduces Human Error and Saves Money for Its Enterprise Clients

Vancouver, BC (GLOBE NEWSWIRE) - Venzee Technologies Inc. (TSX-V:VENZ) (“Venzee” or the “Company”) is pleased to announce that Amer Rugs, a U.S based subsidiary of Saraswatii Global Ltd., has selected Venzee to automate the process of adding and updating products to their retailers.

Amer Rugs, one of the industry’s leading manufacturers of premium quality rugs for over 30 years, shares product information with Bed Bath and Beyond. Venzee’s proprietary integration with Bed Bath and Beyond reduces time to market dramatically. Venzee transforms product information from suppliers and manufacturers into the requirements of retailers, a labor intensive and costly process that the retail industry still performs using spreadsheets.

Kate Hiscox, Founder and President of Venzee, commented, “We are delighted to be working with one of the leading manufacturers of rugs in the U.S. and India. We continue to build on our enterprise client base regularly, and Amer is just another example how our software is relevant to all industries in e-commerce businesses around the world. Amer saw the financial benefit of using Venzee to update their online product information and were quick to adopt. We are confident we have the best technology in the space, and this solution will allow us to build on our monthly recurring revenue.”

Venzee provides high value customized SaaS (software-as-a-service) solutions to mid-market and tier-1 enterprise clients around the world. Additionally, it accommodates the budgets of up and coming retailers hosted on platforms like Shopify.

According to Statista, in 2016, the global e-commerce industry achieved estimated US$1.8 trillion dollars in sales, and is expected to grow to US$4.5 trillion by 2021. As e-commerce sales continue to grow at staggering rates, the need for better delivery of product information for businesses is now solved with the Venzee software solution.

About Amer Rugs
Founded in 1986 by Mahesh Choudhary with a vision to build AMER into a global leader in the rug industry. Over the past three decades, Choudhary has seen his vision emerge from a small but focused manufacturer known for exceptional quality and craftsmanship with one facility and a hand full of employees to one of the most prestigious manufacturers in India currently with nine facilities and additional factories either in the planning stages are under construction. Now with roughly 10,000 employees, a National Sales Force, and permanent showrooms in Atlanta, Las Vegas, High Point, and Jaipur and participates in International markets.

About Venzee
Venzee is a SaaS company that launched in 2014 to help e-commerce vendors and retailers easily share product information in a US$23 trillion retail industry (source: Statista). Traditionally, this was done using spreadsheets which created a labor-intensive process that delayed products from reaching the marketplace. Venzee’s technology, leveraging artificial intelligence to streamline product information management, allows thousands of vendors and retailers to seamlessly share information, avoiding delays and getting products to market faster than ever. The Company graduated from notable startup accelerator program 500 Startups and is already powering some of the biggest brands in the world.

To learn more about Venzee, visit https://venzee.com. For more about Mesh, visit https://meshblockchain.com.

Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the execution of the Company’s growth strategy. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; and regulatory risks. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors” in the Company’s filing statement dated December 12, 2017, which is available under the Company’s SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.

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

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SOURCE: Venzee Technologies Inc.