TrafficGuard Signs Material Contract with Unicorn, Rappi (ASX:AV1)

Company Name: Adveritas

Announcement Date: 11/04/2019
Announcement Category: Contract/Partnership
Announcement Content:

Key highlights:
- Adveritas has signed a 24 month TrafficGuard SaaS contract with rapidly growing technology unicorn, Rappi - a Latin American super app
- Rappi raised $200m from prominent venture capital investors on a USD $1 billion valuation in August 2018
- Adveritas will receive a fee of USD$15,000 per month (~AUD$21,000) for an initial contract term of 24 months (USD$360,000, ~AUD$500,000 minimum contract value) with further potential revenue as their advertising volumes increase beyond the contract plan
- The signing of Adveritas' first client in Latin America highlights the global demand and appeal of the TrafficGuard technology
- Through organic sales efforts and recent integrations with global firms such as HasOffers and Partnerize, TrafficGuard is currently in multiple advanced trials with other potential new customers
- The Company is confident of further material customer contracts int he near term with an active pipeline in the gaming, delivery, taxi, casino and ecommerce mobile app verticals

Announcement URL:
About Adveritas:

Adveritas Limited (ASX:AV1) creates innovative software solutions that leverage big data to drive business performance.

Go to Company Profile for: Adveritas

Announcement Contact: [email protected]