BlueRush Pleased to Announce Signing of Master Services Agreements with Two Global Insurance Companies
12 May 2023 - 7:00AM
BlueRush Inc. ("
BlueRush" or the
"
Company") (TSXV:BTV; OTCQB:BTVRF), a
pioneering personalized video Software as a Service
("
SaaS") company, today announced the signing of
master service agreements (MSA) with two global insurance companies
after successful pilot projects.
“The Insurance vertical continues to be a growth
area for BlueRush and our IndiVideo platform. We are pleased to be
adding new customers in this vertical and have proven that we can
grow these relationships significantly beyond the initial
subscription value,” said Steve Taylor, CEO of BlueRush.
The combined value of these initial subscription
contracts is $75,000. The average growth rate of BlueRush’s top
enterprise accounts in the financial services vertical is
approximately 700% from the opening ARR value to current ARR
achieved in an average of 3.2 years. “While past and average
results are not necessarily indicative of future results, our
customer success and service delivery teams do an excellent job
working with our customers to ensure that their business objectives
are met and exceeded which lays the foundation for this kind of
growth in key accounts,” continued Taylor. “We recently reported
that one of our insurance customers has achieved a 500% sales lift
year over year after introducing IndiVideo to help upsell Term Life
clients to a Whole Life product. This type of result is what
continues to drive our success and is testimony to the power of
IndiVideo.”
To maintain an effective incentive equity
program focussed on retention and attraction, the board of
directors of BlueRush has approved amending the exercise price of
existing stock options held by certain employees and consultants of
the Company (the “Existing Options”), exercisable
for up to an aggregate of 825,000 common shares of the Company, to
$0.08. The Existing Options were originally issued between June
2019 and May 2022, have exercise prices ranging from $0.25 to $0.80
and expire between June 2024 and May 2027. None of the Existing
Options are held by Insiders (as such term is defined by the TSX
Venture Exchange (the “Exchange”)). The amendments
remain subject to Exchange approval pursuant to Exchange Policy
4.4.
In addition, the board of directors of the
Company have granted stock options to officers, directors and
employees of the Company exercisable for up to an aggregate of
2,695,000 common shares of the Company at $0.08 per share for
five years. All options will vest over three years with the
initial vesting after 12 months. Options granted to officers and
directors are subject to an Exchange four-month hold.
About BlueRush
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 https://www.bluerush.com.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For further information please contact:
Steve TaylorChief Executive OfficerBlueRush
Inc.Tel: 416-457-9391Email: steve.taylor@bluerush.com
Kendra BorutskiDirector of MarketingBlueRush
Inc.Email: kendra.borutski@bluerush.com
BlueRush (TSXV:BTV)
Historical Stock Chart
From Nov 2024 to Dec 2024
BlueRush (TSXV:BTV)
Historical Stock Chart
From Dec 2023 to Dec 2024
