First Implementation with Wild Bird Centers of America Inc.
Franchise
VANCOUVER, BC, Aug. 10, 2020 /CNW/ - Loop Insights Inc.
(TSXV: MTRX) (the "Company" or "Loop"), a
provider of contactless solutions and artificial intelligence
("AI") to drive real-time insights, automated marketing, and
contact tracing to the brick and mortar space, is pleased to
announce the signing of a channel reseller partnership with global
cloud-based Point-of-Sale (POS) company, Vend, as well as, the
first sale to a Vend client.
VEND UNLOCKS ACTIVE OPPORTUNITIES IN $5T GLOBAL RETAIL
INDUSTRY
Vend is the first POS built for iOS and is now used in over
25,000 stores across 140 countries. Vend's fast growth and global
reach creates opportunities across the world for Loop and its
technology in the retail vertical. To this end, the companies
have already secured the first implementation at a Vend client,
Wild Birds Centers of America Inc. - a North American aviary retail
franchise with 30 stores - and subsidiary of Global Harvest Foods
Ltd. Loop plans on widening the scope of opportunity Global
Harvest Foods.
Furthermore, Vend is already in discussions with several other
retail chains and both companies expect to announce additional
implementations in the near future.
Loop Insights CEO, Rob
Anson stated "This is a significant partnership for
Loop given the fact both companies offer cloud-based services that
provide a strong foundation for rapid scalability and growth. We
are both driven to acquire multi-store clients to drive faster,
larger adoption rates. As seen by our first implementation with
Wild Bird Centers of America, VendHQ is already demonstrating huge
value to Loop as a channel reseller. With active conversations
already taking place with many of Vend's global clients, our goals
for global penetration into retail are already taking
shape."
Jake West, Director of
Business Development at Vend stated "We are beyond excited
to be partnering with Loop Insights to provide our retailers with
robust, enterprise-level tools. With COVID 19, Vend has seen
an increase in the number of mid-market and enterprise retailers
that are moving to Vend to take advantage of modern, cloud-based
technology. Loop Insights is a perfect complement to Vend's
platform, in that, collectively we are able to deliver enterprise
& franchise reporting tools, deep product insights and even
trends on consumer behavior to our retailers. Vend has long
had a partner focused approach, where we partner with the
best-of-breed companies like Loop to deliver our clients with an
overall superior experience.
LOOP'S SOFTWARE INTEGRATION CREATES SCALABLE CHANNEL RESELLER
OPPORTUNITIES
The addition of Loop's API provides Vend clients the unique
ability to connect transactional data across all physical retail
locations and e-commerce platforms for single stores, multi-store
franchises, and international enterprise retail customers. The
companies will first integrate Loop's powerful insights service at
Wild Bird Centers of America—a franchise with 30 retail stores in
Canada and the United States; Loop plans on widening the
scope of opportunity to its umbrella company, Global Harvest Foods
Ltd.
Without the need for hardware, Loop Cloud delivers a
frictionless implementation process that allows for large-scale
adoption and, ultimately, adds high margin revenue-generating power
to Loop's current Software as a
Service (SaaS) revenue model. As a channel
reseller for Loop's technology, the companies anticipate revenue
from onboarding fees and SaaS fees. Loop's software API integration
also supports seamless access to its other AI-driven services:
automated personalized engagement and programmatic advertising. The
addition of these services would increase the clients' monthly SaaS
fees, and add additional revenue for Loop through
distribution/redemption of third-party promotions.
This Press Release Is Available On The Loop Insights Verified
Forum On AGORACOM For Shareholder Discussion and
Q&A https://agoracom.com/ir/LoopInsights/forums/discussion
About Vend: Vend is a cloud-based point-of-sale and
retail management software that lets retailers run their business
in-store, online, and on-the-go. Vend includes inventory
management, Ecommerce integrations, customer loyalty, and reporting
analytics tools. The first POS built for iOS, Vend is trusted by
retailers in over 140 countries and is used in more than 25,000
stores worldwide. Vend integrates with leading tools like
Bigcommerce, Quickbooks and Marsello and provides seamless
integrated payment options by partnering with major banks and
processors around the world. Founded in 2010, Vend has offices in
Auckland, London, Toronto and Melbourne, and has raised more than
$50 million from top-tier
investors. For more information, please
visit: https://www.vendhq.com/
About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT")
technology company that delivers transformative artificial
intelligence ("AI") automated marketing, contact tracing, and
contactless solutions to the brick and mortar space. Its unique IoT
device, Fobi, enables data connectivity across online and
on-premise platforms to provide real-time, detailed insights and
automated, personalized engagement. Its ability to integrate
seamlessly into existing infrastructure, and customize campaigns
according to each vertical, creates a highly scalable solution for
its prospective global clients that span industries. Loop Insights
operates in the telecom, casino gaming, sports and entertainment,
hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Forward-Looking Statements/Information:
This news release contains certain statements which
constitute forward-looking statements or information. Such
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond Loop's control, including
the impact of general economic conditions, industry conditions, and
competition from other industry participants, stock market
volatility and the ability to access sufficient capital from
internal and external sources. Although Loop believes that the
expectations in its forward-looking statements are reasonable, they
are based on factors and assumptions concerning future events which
may prove to be inaccurate. Those factors and assumptions are based
upon currently available information. Such forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and
cause actual results or events to differ materially from those
stated, anticipated or implied in the forward-looking statements.
As such, readers are cautioned not to place undue reliance on the
forward-looking statements, as no assurance can be provided as to
future results, levels of activity or achievements. The
forward-looking statements contained in this news release are made
as of the date of this news release and, except as required by
applicable law, Loop does not undertake any obligation to publicly
update or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise.
The forward-looking statements contained in this document are
expressly qualified by this cautionary statement. Trading in
the securities of Loop should be considered highly
speculative. There can be no assurance that Loop will be able to
achieve all or any of its proposed objectives.
Neither the 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.
LOOP Website: www.loopinsights.ai
Facebook: @LoopInsights
Twitter: @LoopInsights
LinkedIn: @LoopInsights
SOURCE LOOP Insights Inc.