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E-commerce was on the rise in most industries well before the coronavirus pandemic upended the world.
And as stay-at-home orders shuttered brick-and-mortar businesses, consumers increasingly turned online to shop for everything from groceries to fitness equipment, and e-commerce sales increased by 19% in 2020, according to a June 2021 report from Statista.
That may have created opportunities for companies like BlueRush Inc. BTV BTVRF, a video-creation software-as-a-service (SaaS) business that says it provides personalized video content to help brands develop emotional connections with their audiences.
The 15-year-old Toronto-based company reports that it plans to raise up to $6 million in a private placement by May 31. The TSX Venture Exchange granted Toronto-based BlueRush an extension to the previously announced placement. All securities issued through the offering are subject to a statutory hold period of four months and one day from the date they’re issued.
The company’s roster of customers and contributions from its partner network expanded during the second quarter, and it saw an increase in both service revenue and profitability.
“We are delighted with the way the first half of the fiscal year has started for BlueRush,” CEO Steve Taylor said at the time it released its financial results in March. “We continue to see acceleration in terms of new contracts, including our first telco and utilities customers.”
BlueRush’s revenue increased 36% to $2.3 million in the second quarter, up from $1.7 million for the same period a year ago. Profits were up 71% to $1.7 million, from $1 million last year.
In 2020, the global e-commerce market crossed the $2 trillion threshold, according to Statista. China was No. 1 in e-commerce, with 2020 sales of $1.3 billion, followed by the U.S. with $537.7 billion in revenue and Europe with revenue of $460.5 billion.
BlueRush says its personalized solutions strengthen client relationships, improve customer retention and enhance customer experiences. The platform is reportedly popular among banking, mortgage, investment, retirement, healthcare, insurance and telecommunications companies.
Among the company’s most well-known clients are Allstate Corp. ALL, Canadian Imperial Bank of Commerce CM and Charles Schwab Corp. SCHW.
BlueRush also develops and markets IndiVideo, an interactive, personalized video platform made to drive return on investment throughout the customer lifecycle from increased conversions to more engaging statements and customer care. IndiVideo reportedly enables BlueRush clients to capture knowledge and data from their customers’ video interactions, creating new data-driven customer insights.
For more information, visit http://www.bluerush.com.
The preceding/following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and Skyline Corporate Communications Group, LLC, a financial partner of Benzinga. This article/video is a paid sponsorship by investor relations agency Skyline Corporate Communications Group, LLC, which is paid by BlueRush Inc. BTV BTVRF for providing investor relations and corporate communications services relating to the Company’s securities. Please see Skyline's 17(b) Disclaimer and Disclosure Statement here: https://skylineccg.com/disclosures/. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content that follows is for informational purposes only and is not intended to be investing advice.
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