BlueRush grows global partnerships as more customers sign on for its IndiVideo interactive personalized video platform

• Offers a Software-as-a-Service (SaaS) interactive personalized video platform
• Measureable technology means customers can track their return on investment
• Growing international partnerships to take IndiVideo global

What BlueRush does:

BlueRush Inc (CVE:BTV) (OTCQB:BTVRF) offers a Software-as-a-Service (SaaS) interactive personalized video platform for financial services, IndiVideo.

IndiVideo is a highly scalable personalized video platform built to provide AI-driven video content in an easy-to-understand, entertaining, and compelling manner.

The platform enables BlueRush clients to capture knowledge and data from their customers’ video interactions, creating new and compelling data-driven customer insights.

The company’s products improve marketing and sales performance and generate greater client satisfaction and loyalty.

BlueRush is also building an international partner network which creates a high-leverage opportunity to reach and succeed in new markets as well as drive further penetration into existing markets such as North, Central, and South America. Innovative partners see IndiVideo as a powerful and modern platform to deliver digital customer acquisition and engagement programs.

How is it doing:

After starting the 2021 financial year with record first-quarter subscription and support, BlueRush has continued to add new customers while extending its global reach with international partners that hold strong positions in their home markets. 

On March 15, the company signed a major pension fund in Latin America for its IndiVideo platform through Chilean partner Percus.

Its IndiVideo platform will be used to support ongoing communications for pension fund customers in order to help them easily understand their savings, projections, and goals. This awareness encourages contributions to the fund to drive assets under management and deliver a superior customer experience.

That was followed by news, on May 10, that it is partnering with Crawford Technologies to produce personalized contextual video bills and statements.

Both companies are introducing the industry’s first ability to deliver the products built from data contained in any transactional document. The videos, whether informational, educational, or marketing-focused, provide answers to questions about financial records, account documents, and other pertinent, targeted information. 

Personalized contextual videos can include items as complex as escrow letters, mortgage statements, or insurance claims documentation. 

The customer experience is significantly improved by adding video media as a delivery option for transactional communications or as a detailed explainer video to reduce call-center traffic. 

Then on May 28, BlueRush announced a partnership with leading Indian software company FCI Private Limited, which is at the forefront of the customer communications management industry.

The strategic partnership provides FCI with a BlueRush reseller agreement, enabling FCI to resell BlueRush’s IndiVideo solution. It also provides FCI with a creative licensing agreement, enabling the company to create and manage IndiVideo solutions within the local market.

BlueRush CEO Steve Taylor said India represents a strategic market for the company, given the region’s rapid adoption of marketing technology and a market that is focused on optimizing customer experiences in every industry.

The partnership signifies a key milestone for BlueRush as it continues its global expansion. In 2021, BlueRush has signed partnership agreements with vendors located in Indonesia, India, Japan, the United Arab Emirates, and the US.

As part of its US expansion, BlueRush said on June 9 that it has entered into an agreement with a key North American financial services lender worth as much as US$200,000 to transform the lender’s digital client experience by leveraging its IndiVideo platform. Apart from IndiVideo, it will also provide other digital services to the lender. 

The lender has more than 500 locations in Canada and the US, and BlueRush plans to optimize the lender’s digital presence by improving its North American web properties, application flow, and app design. The initial contract is focused on digital transformation efforts and includes an initial subscription for IndiVideo. 

Looking at the financials, for the period ending April 30, the company generated SaaS revenue of $517,878, a 44% increase compared to the year-ago quarter. In addition, BlueRush said in a June 29 statement it has pulled in year-to-date SaaS revenue of $1.49 million, a 63% increase.  

The fiscal third-quarter revenue growth, it said, is primarily due to new customers, expansion of existing customers, and increasing traction with its growing partner network.

And the company added that the contract renewal rate remains above 95% as it continues to report very low churn with its customers.

BlueRush also announced that its common shares have commenced trading on the OTCQB Market under the ticker symbol “BTVRF” after it raised $5 million in the 3Q to fuel its growth and meet working capital needs. 

Inflection points:

• Strong, recurring SaaS revenue with low client churn rate
• Partnerships help drive international growth
• OTCQB listing to increase US investor base and boost liquidity

What the boss says:

“Our ability to deliver personalization at scale, create meaningful touchpoints in the digital channels and drive measurable ROI sets us apart,” CEO Steve Taylor said in a statement after the release of the company’s fiscal 3Q 2021 results. 

“We work with an increasing number of leading brands committed to delivering a high value, engaging and personalized experience to their customers, which have embraced IndiVideo to fulfill this promise.”

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Story by ProactiveInvestors