Adveritas’ General Meeting In June; Key Appointments To Aid US Expansion

Adveritas’ General Meeting In June; Key Appointments To Aid US Expansion

A digital advertising and marketing company, Adveritas Limited (ASX: AV1) on 24 May 2019, released a notification of General Meeting to be held on 26 June 2019, 10:00 AM (WST), at Technology Park Function Centre, 2 Brodie Hall Drive, Bentley, Western Australia. AV1 mentioned that the business of the Meeting affects shareholders’ shareholding and the registered shareholders’ votes are important.

On 23 May 2019, announced the appointment of sales and customer success roles in the United States and Latin America. With the TrafficGuard representatives in these regions on a full-time basis, AV1 is better prepared to pursue sales opportunities, as well as to smoothly onboard new customer accounts without any time zone challenges.

Eric Rosenberg has been appointed as the Vice President of Sales, North America. He has strong AdTech sales background. He will be utilizing in in-depth SaaS experience and industry relationships to grow the North American business of TrafficGuard.

TrafficGuard® is a fraud migration software of the company which detects, mitigates as well as reports on digital ad fraud before it influences the digital advertising budgets.

 

Expanding operations to North America to service the largest digital advertising market and to provide services in every time zone remained the strategic growth

priorities of the company.

A pipeline of prospects has been seen growing due to increased marketing in the region along with the recent integrations. The company expects that under the leadership of Mr Rosenberg, they would be able to see a consistent stream of trials, followed by client win with the increased sales efforts.

In order to support the sales effort mentioned above, along with the recent customer wins, the company made the appointment of Customer Success Representatives in the LATAM zone. These Customer Success representatives need to make sure that the trials are smoothly onboarded, and the customers could get maximum value from the TrafficGuard quickly. This will reduce the sales cycle by streamlining the onboarding of clients in these areas and at the same time, assist the customer retention initiatives through full utilization of the technology.

Apart from these crucial appointments, the Managing Director of Sales of TrafficGuard, Mr David Cox is to take up the position of Chief Revenue Officer. While working closely with the executive team, he would be looking for new opportunities for TrafficGuard technology in various applications as well as zones.

Recently, on 11 April 2019, the company announced that it had signed a two years TrafficGuard SaaS contract with Latin American super app, Rappi to provide its ad fraud prevention solution, TrafficGuard. Rappi is the largest on-demand food distribution application in Latin America, and it operates in Argentina, Brazil, Chile, Colombia, Perú as well as Uruguay.

Also, in the month of March 2019, the company announced the integration and partnership between TrafficGuard and Partnerize, a global campaign management platform. There was another announcement in the same month where the company completed the integration of TrafficGuard with Segment, San Francisco based, customer data solution which will enable the 19000+ clients of Segment to easily send data from their app or website for real-time analysis by TrafficGuard.

In its Quarterly Report, ending on 31 March 2019, the company mentioned that there was a net cash outflow of A$1.928 million from the operating activities and A$0.047 million from the investing activities. By the end of Q3 FY2019, the company had net cash and cash equivalent of A$1.945 million. The estimated cash outflow for the June quarter is A$2.209 million.

In the previous six months, the shares of AV1 has generated a decent return of 64.38%. By the closure of the market session, on 24 May 2019, the price of AV1 shares were flat at A$0.120, AV1 holds a market capitalization of A$19.07 million and 158.9 million outstanding shares.


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