VELPIC Sales Progress & Marketing Update

Company Name: Velpic

Announcement Date: 20/09/2016
Announcement Category: Product launch/update
Announcement Content:

Highlights
 Velpic sales team continue to deliver strong client growth with multiple new clients signing up to the platform every week

 All three core pillars are in place and achieving traction with new client growth from Enterprise, Reseller Partnerships and SME self sign-up

 Velpic ramping up sales and marketing efforts specifically for the SME pillar with digital marketing taking the lead

 Continued revenue growth from the existing cost base expected for the remainder of CY2016

Velpic Limited (ASX: VPC) (“Velpic” or “the Company”) is pleased to provide an update on its continuing strong client growth and associated increase in revenues across the Company.

Enterprise Sales
Velpic’s Enterprise Sales team has been delivering strong client growth. Velpic has recently achieved a number of new client wins with the Company’s client base more than doubling over the course of calendar year 2016. The Enterprise team has recently signed multiple new clients across the East and West coast of Australia and across multiple industries. Recent new clients include: Freedon Electrical, SRG, Vassallo Construction, Enjo, Ranger Drilling, A. P. Eagers and Bid Metrics.

Reseller Partner Growth
Velpic’s Partner Program team has been on-boarding new partners and equipping them with the skills required to sell the Velpic platform. The number of registered Velpic partners now stands at 21, compared to zero 9 months ago, and these partners are now starting to win their first clients. Under the highly scalable re-seller model, Velpic benefits through a revenue sharing relationship with the full benefit of this pillar likely to become apparent over the next 6-12 months.

Panalitix
Further to its announcement on 29 June 2016 regarding Velpic’s distribution agreement with Panalitix, Velpic is pleased to announce that this agreement has now commenced generating its first revenues for Velpic, with Panalitix distributing their content to over 135 customers nationally via the Velpic Platform as part of phase one. As the number of new customers delivered via the Panalitix agreement continues to grow in the months ahead, the Company expects further revenue uplift.

SBIA
Further to its announcement on 4 December 2015 regarding Velpic’s first Reseller Partnership with retail industry trainer John Blake and the Surf Boardsports Industry Association (SBIA), Velpic is pleased to announce that John Blake’s retail sales training content is now available to all of SBIAs 1,000+ members in time for the 2016 Christmas Holiday retail season. Already more than 20 stores have signed up and over 100 staff have completed their retail training through the Velpic Platform. The Company again expects further revenue uplift as new stores sign up via the SBIA web site in the months ahead.

SME Marketing
To kick start the third and final pillar, SME self sign up, Velpic will be aggressively accelerating its sales and marketing efforts, including a significant ramp up of its online digital marketing campaign. The initial stages of the digital marketing campaign has already delivered paying SME self sign-up clients and also generated a significant number of web site trials.

Velpic Chief Executive, Russell Francis commented:
“The Velpic story continues to go from strength-to-strength. Our Enterprise client growth in
particular is steadily contributing to revenue uplift. In addition, with the first Partner revenues
now received and our SME marketing efforts ramping up, we look forward to a strong close to
the 2016 calendar year.”

**ENDS**

Announcement URL: https://www.velpic.com/investor/investor-information.html#asx-announcements
About Velpic:

Velpic - Video eLearning Platform In the Cloud

Online learning is easier than ever with Velpic, a powerful training solution for companies of all sizes and industries.

In a single tool, Velpic’s new cloud based platform allows you to create and edit your own impactful video lessons in-house, play your lessons online and finally, as an administrator, you can track, manage and schedule all your company online training and inductions.

Velpic has proven to dramatically reduce the time and costs to train and induct staff while improving comprehension and retention of the subject matter. Our online training software utilises a visual, interactive approach to learning; through smart quizzes and high quality videos, you can maximise each lesson’s impact.

Everything you need to empower your workforce, in one platform – Velpic eLearning.

Go to Company Profile for: Velpic

Announcement Contact: [email protected]