Engagement Labs Renews Contract With Leading US Telecom; Grows Annual Contract Size by 100%
Expands Relationship to Include Second National Brand
Montreal, QC/New Brunswick, NJ – (March 14, 2018) – Engagement Labs (TSX VENTURE: EL) (OTCQB: ELBSF) announced today that it continues to accelerate its growth and retention of clients in 2018 with a major renewal and upsell of a Fortune 500 US telecom client. The deal represents a 100 percent increase in the annual contract value vs. 2017, and an overall 300 percent increase in deal term with increased platform capabilities. The total value of the contract is CDN $580,000 (USD$450,000) for three years.
“Consumer conversation plays a very strong role in the telecom sector and it represents an important vertical for Engagement Labs,” according to Ed Keller, CEO of Engagement Labs. “This is a client who highly values our data and analytics as it has proven to be a powerful predictor of their business performance. This was a key driver in their decision to expand the contract to include a second flagship brand in their corporate portfolio and renew for three years.”
“Retaining and growing our client base is one of our main focuses for 2018,” adds Steven Brown, President and Chief Revenue Officer of Engagement Labs. “Having a major telecom client make a long-term commitment in 2018 speaks to the value that our platform offers companies.”
The Company also announced that the Board has approved the issuance of 1,411,978 restricted share awards, in lieu of cash bonuses, to officers and employees of the Corporation. Each Restricted Share will be subject to risk of forfeiture over a period of three years.
About Engagement Labs
Engagement Labs (TSXV: EL) (OTCQB: ELBSF) is an industry-leading data and analytics firm that focuses on the entire social ecosystem and its impact on businesses. Engagement Labs’ TotalSocial platform provides brands with unique online (social media) and offline (word of mouth) insights, and predictive analytics achieved through machine learning, to reveal the social metrics and insights that will increase marketing ROI and top line revenue. TotalSocial, which tracks 500 brands, is the only platform that provides marketers with proprietary brand data, industry and competitive intelligence and in-depth analysis of what drives performance and how to improve, while tracking KPI’s and goals.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Except as required by law, Engagement Labs does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
Neither 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.
Ed Keller, CEO