BlueRush Inc. (“BlueRush” or the “Company“), an emerging personalized video Software as a Service (SaaS) company, is pleased to announce significant recent growth in subscription bookings..
BlueRush added $1,057,963 of new and expansion subscription bookings in fiscal 2021. These bookings are expected to have similar gross margins to existing subscriptions.
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New bookings – New logo customers accounted for $260,951 and $812,456 of additional subscription bookings in Q4 2021 and fiscal 2021, respectively. New bookings is an important metric as it demonstrates the Company’s ability to secure new customers. New customer examples include:
- Enhancing customer statements – Major U.S. insurer, secured through one of the Company’s US-based channel partners, utilizing IndiVideo to turn basic statements into an important touchpoint with their customers
- Wealth manager sales enablement – Leading U.S. fintech solution provider arming wealth managers with IndiVideo to enhance their ability to engage new and existing clients
- Supporting new insurance product launch – Leading Mexican insurance provider leveraging IndiVideo to launch and sell a new insurance product
Expansion bookings – Our existing customers accounted for $245,507 in expansion subscription bookings in fiscal 2021. Expansion bookings is a significant health indicator as it indicates that existing customers see value in the technology and support they receive from BlueRush, leading to incremental revenue. Select examples include:
- Boosting sales for automotive insurance – Top 10 North American Bank will leverage IndiVideo to support automotive insurance sales
- Amplifying direct marketing – Leading Retirement Fund, based on a 3X lift in email opening rates, is increasing their spend on IndiVideo to support additional direct marketing projects
- Increasing digital performance – Retirement plan provider, and one of America’s oldest fiduciaries, expanding their use of IndiVideo to enhance their digital engagement strategy
“Historically, there has been a lag between our July 31 year end and our disclosure of year end results and so, going forward, BlueRush will provide an interim financial update to ensure our shareholders have a current view on the significant progress the company is making. We are particularly pleased to see such a strong mix of results coming from new logo customers as well as from expanded relationships with our existing customer base,” said Steve Taylor, CEO of BlueRush.
“Personalized video is at an inflection point. We are seeing more and more inbound inquiries as companies have started embracing this technology as a core part of their marketing and sales toolset. Our continued momentum in direct sales, customer expansion and channel activities position BlueRush extremely well to exploit this exciting market opportunity and create value for our shareholders,” concluded Mr. Taylor.
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