TORONTO, Aug. 20, 2019 /CNW/ - BlueRush Inc. ('BlueRush' or the 'Company') (TSX-V: BTV), an emerging personalized video Software as a Service ('SaaS') company, announced that it has secured a contract valued at approximately US$810,000 with a leading U.S. based provider of retirement planning and fiduciary outsourcing solutions.
Under terms of the contract, BlueRush will complete two projects, each of which includes a combination of one-time and recurring revenues. One of the projects is a scalable services offering designed to help businesses in the U.S. streamline and simplify the process for managing retirement plans. The other project involves the creation of a sales tool targeted at onboarding existing or net new prospects that will harness the IndiVideo™ platform. Up to US$570,000 of the total contract is for one-time development fees, and the remaining US$240,000 will be recognized as recurring revenue over a period of 2 years.
'We are gaining increased traction in the U.S., helping leading enterprises to digitally transform their customer communications,' said Larry Lubin, President of BlueRush. 'This contract demonstrates our versatility and ability to deliver diverse and customized solutions for a leading financial services company. It also reflects growing demand for IndiVideo, our flagship product, which is driving increased customer engagement and analytics across the financial services sector.'
BlueRush develops and markets IndiVideo™, a disruptive, award-winning interactive personalized video platform that drives return on investment throughout the customer lifecycle, from increased conversions to more engaging statements and customer care. IndiVideo enables BlueRush clients to capture knowledge and data from their customers' video interaction, creating new and compelling data driven customer insights.
For more information visit www.bluerush.com.
Certain statements contained in this press release may constitute 'forward-looking information' as such term is defined in applicable Canadian securities legislation. The words 'may', 'would', 'could', 'should', 'potential', 'will', 'seek', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions as they relate to the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: changes in law; the ability to implement business strategies and pursue business opportunities; state of the capital markets; the availability of funds and resources to pursue operations; a novel business model; dependence on key suppliers and local partners; competition; the outcome and cost of any litigation; as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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SOURCE BlueRush Inc.
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