Adgorithms Limited Significant Customer Win (7432Z)

TIDMADGO

RNS Number : 7432Z

Adgorithms Limited

17 March 2017

 
 For immediate release   17 March 2017 
 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

ADGORITHMS LTD

("Adgorithms" or the "Company")

SIGNIFICANT CUSTOMER WIN

Leading nutrition, health and wellness conglomerate to deploy Albert in a major South American country

Adgorithms, creators of Albert, the leading Artificial Intelligence marketing platform, is pleased to announce a significant new customer win.

Following the successful implementation of the Company's "land and expand" growth strategy, Adgorithms has now secured a 12 month rolling contract with one of the world's largest nutrition, health and wellness companies (the "Customer"). As part of this agreement, Adgorithms will deploy Albert across all the Customers' online advertising campaigns, focusing on its leading brand within its largest South American market. Management expects this contract to generate a minimum of $300,000 of annual SaaS fees.

This contract win follows a four-month pilot in which Albert was compared with the Customer's existing advertising agency, which is a subsidiary of a leading global network. During the pilot, Albert consistently delivered superior return on investment metrics when compared to previous campaigns managed by the incumbent agency. In addition, Albert provided greater transparency, control and valuable marketing insight during the pilot.

The Company's Board of Directors believe today's announcement is a significant milestone for Adgorithms and its core software platform. The Company believes securing such a high profile and sophisticated brand and outperforming an established and global advertising agency, represents further validation of the significant value Albert can generate.

Adgorithms continues to develop its list of growing pilots with leading global brands and remains confident in the overall long term growth prospects of the business. Albert was recently named "Best Marketing Automation Company" and secured "Best Retail Campaign of the Year" at 2017 DMN Awards. The voting panel recognised Adgorithms for its innovative technology and unprecedented results for another SaaS client, Harley-Davidson NYC.

For further information, please contact:

 
 Adgorithms                   Tel: [phone] 
 Or Shani, Chief Executive 
  Officer 
 Ron Stern, Chief Financial 
  Officer 
 www.adgorithms.com 
 
 Liberum (NOMAD and Broker)   Tel: [phone] 
 Neil Patel / Chris Clarke 
 
 Vigo Communications          Tel: [phone] 
 Jeremy Garcia                [e-mail] 
 

About Adgorithms

Founded in 2010, Adgorithms is a leading Artificial Intelligence marketing platform. As the developers of "Albert", the first-ever artificial intelligence (AI) marketing platform, Adgorithms serves as a highly intelligent and sophisticated member of a brand's marketing team. Albert performs many of the manual, time-consuming tasks that exist throughout a marketing campaign - from digital media buying to execution to optimization, and analysis. Albert additionally offers proactive, ongoing insights and recommendations on information he has learned and uncovered along his journey. Leading brands such as Harley Davidson, Evisu and Made.com are leveraging Albert to increase and accelerate revenue, make more informed investment decisions and reduce operational costs - all at a pace and scale not previously possible.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 17, 2017 03:00 ET (07:00 GMT)