Partnerships and Microsoft Co-Sell Drive Key Sales Wins
Recent customer wins contribute to user growth in Europe, Asia and the US.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./
OTTAWA, ON, Dec. 9, 2020 /CNW/ – Martello Technologies Group Inc., (“Martello” or the “Company”) (TSXV: MTLO), a leading provider of digital experience monitoring (DEM) solutions, announced today a selection of sales wins that closed in the third quarter of fiscal 2021, which were driven by partnerships and the Microsoft Co-Sell program.
These sales are early proof points of Martello’s digital experience monitoring solutions and strategy. They represent over $375,000 in bookings and the addition of more than 120,000 users, and demonstrate Martello’s ability to work with partners to deliver regional success in markets around the world. Note that revenue is generally recognized monthly over the term (typically 12-36 months) of the subscription. These wins include:
- A global financial institution in Asia that purchased a Gizmo subscription for more than 85,000 users, supporting their migration to Microsoft 365. This deal was won through joint efforts with Microsoft via the Co-Sell program.
- A European mechanical engineering company renewed their subscription for 5,000 Microsoft 365 users, and added 2,000 more users to a new two-year subscription.
- One of the world’s largest Microsoft partners signed a partnership deal with Martello earlier this year that resulted in an additional 35,000 users this quarter to date.
As Martello enters the last month of the third quarter, the Company is focused on closing iQ and Gizmo deals in the pipeline, including upsell of customers on Live Maps to new iQ subscriptions.
Martello’s inaugural Investor Newsletter was issued on December 3, 2020. To subscribe to the quarterly newsletter, visit martellotech.com.
- Video: Gizmo for Teams Monitoring
- Blog: The ROI of Digital Experience Monitoring
- EBook: A Guide for CIOs and IT Teams to Set Up a Digital Experience Monitoring Strategy
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides digital experience monitoring (DEM) solutions. The company’s products provide monitoring and analytics on the performance and user experience of critical cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello’s software products include unified communications performance analytics, Microsoft 365 end user experience monitoring and IT service monitoring and analytics. Martello Technologies Group is a public company headquartered in Ottawa, Canada with offices in Amsterdam, Geneva, Nice, Paris, Dallas and New York. Learn more at http://www.martellotech.com
This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the “1933 Act”) as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements”. Forward-looking statements can be identified by words such as:”anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding accretive monthly recurring revenues and effect of closing on the Company’s gross margins.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:
- Continued volatility in the capital or credit markets.
- Our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so.
- Changes in customer demand.
- Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures or equipment.
- Delayed purchase timelines and disruptions to customer budgets, as well as Martello’s ability to maintain business continuity as a result of COVID-19.
Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE Martello Technologies Group
For further information: Tracy King, Vice President of Marketing, firstname.lastname@example.org, 613.410.7636.