- Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
- VST companies are using artificial intelligence (AI), blockchain, and virtual and augmented reality (VR/AR) to disrupt sectors as diverse as fintech, insurance, health and gaming.
VANCOUVER, British Columbia, July 18, 2019 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. ("Victory Square" or the "Company") (CSE:VST) (VSQTF) (6F6.F) today provided a corporate update on the strong performance of select portfolio companies: Immersive Technologies, V2 Games, Fansunite, Grow Tech Labs, CoPilot Advisor, Taloflow.ai, and Multapplied Networks.
During the first half of 2019, VST’s select portfolio companies achieved significant milestones in terms of revenue growth, product development, and customer acquisition.
“Our portfolio represents a uniquely liquid and secure way for investors to double down on the latest cutting-edge technologies,” said Shafin Diamond Tejani, CEO of Victory Square Technologies. “With our focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides.”
Selected Portfolio Companies Update:
Immersive Tech designs, programs, builds and installs immersive and engaging experiences for some of the world’s leading companies for a variety of purposes such as brand engagement, revenue generation, and corporate training. Through a blend of video game development, theme park engineering and the latest VR/AR/MR technologies, the company has amassed a portfolio of global brands.
- Immersive Tech is on track to achieve 20% growth in revenue ($2.5 million)
- Currently engaged in new projects with three large multinational corporations set to deploy in Q4 (Capital One, Bayer, BioMérieux)
- Won the 2019 Startup Canada High-Growth Entrepreneurship category
V2 Games is a video game ventures firm focusing on project investments in high-value e-gaming projects featuring globally-recognized intellectual properties. The company generates cash flow by streaming revenue share from world-class e-gaming projects.
- Completed a $1.3 million financing
- Provided funding for the “Men In Black” mobile game, their first tier 1 mobile game scheduled to launch in August 2019
- A seed investor in esports companies: Pepper, PiiK and Cash.Live (Cash.Live recently received a $150,000 USD investment from Snapchat and was accepted into its in-house accelerator
- Aiming for a direct listing by Q4 2019
FansUnite provides a full suite of sports betting solutions including The FansUnite Protocol, a robust ecosystem of sports betting applications.
- Entered into a strategic partnership with World Poker Tour®, the premier name in internationally televised gaming and entertainment leading innovation in the sport of poker
- Focused on the development of the FansUnite B2C and B2B offerings. The B2C platform is currently in beta with full KYC, event data, odds feeds, live betting, resolution, and risk management
- FansUnite will be launching their own B2C Sports Betting Application in Q4 2019 and licensing out the technology to other operators
- Aiming for a direct listing by Q4 2019, which also includes an acquisition, closing upon listing
Grow Tech Labs:
Grow Tech Labs develops and accelerates companies from pre-legalization to post regulated market through education, consultation and investment.
- Grow Tech Labs facilitated the initial discovery and preliminary infrastructure for what is set to be BC’s largest craft cannabis co-op
- Launching an online education program to aid businesses in expanding their product models to include cannabis. Beginning with eight modules, Grow Academy will release another 3 modules, including navigating the edible market by the end of 2019
- Opening multiple Noble Canna Park locations on licensed ALR land for micro cultivators and processors. The Noble Canna Park will offer growers upgraded lots with a vertically integrated cultivation, processing and lab onsite
- Featured in major media, including Global TV, CTV, and Bloomberg
CoPilot Advisor uses cutting edge A.I. technology to help sales teams automatically target qualified prospects on social media, initiate one-to-one conversations, and surface timely sales opportunities without requiring any “content marketing,” spam emails, or any advertising.
- CoPilot successfully signed over 400 customers including: MassMutual, Merrill Lynch, UBS, and New York Life, and more
- Revenue from new verticals (B2B, insurance and real estate) now accounts for more than 33% of the total revenue, significantly expanding beyond the financial services vertical.
- Finalist for the 2019 Technology Impact Awards for Company of the Year – Startup Success
- Generating more than $120k MRR and grew by 300% over the past 12 months
Taloflow's prediction engine reveals the cost of every cloud process in real-time, it’s an AI autopilot for cloud resource management that saves companies up to 40% on Amazon Web Services (“AWS”).
- Taloflow met all of the advanced technical requirements to become an Amazon Partner Network (APN) Advanced Technology Partner
- Added 12+ Beta customers with an average infrastructure spend of $1M/yr on AWS (including 1 unicorn and 1 Fortune 500)
- Will be adding 2-3 new beta customers every month and ingesting 10s of millions of records from AWS for their customers
Multapplied Networks Inc.
Multapplied Networks Inc. develops and sells a proprietary Software-Defined Wide Area Network (“SD-WAN”) platform that Cloud and Managed Service Providers white-label and run in their infrastructure to improve visibility and control over end-customer experiences of their hosted, managed applications and drive customer acquisition, retention and brand.
- Multapplied Networks Inc. released v6.4 of their SD-WAN software
- Signed three new channel partners, expanding their USA and Latin American partner coverage and has continued to onboard partners signed in the previous quarters
- 30% year-over-year revenue growth in Q2 2019 compared to the same quarter in the prior year
- Quarterly net income also grew strongly, up over 100% compared to the same quarter in 2018
"We remain committed to commercializing products that leverage emerging technologies to re-imagine industries, building a new breed of companies set to become the next generation’s technology giants,” said Shafin Diamond Tejani, CEO of Victory Square Technologies.
Victory Square will continue to update shareholders on all significant advancements of portfolio companies through upcoming press releases and the company’s official website.Check out https://victorysquare.com/blog/victory-square-corporate-update and sign up to VST’s official newsletter at VictorySquare.com.
For further information about the Company, please contact:
Investor Relations Contact - Alex Tzilios
Media Relations Contact –Howard Blank, Director
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
We’re not an accelerator. We’re not an incubator. We’re venture-builders.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
VST’s sweet spot is the cutting-edge tech that’s shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using blockchain, AR/VR, and AI to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn’t just another investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you’ll scale, monetize and be ready for public listing or private sale.
What we do differently for investors
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSTQF). For investors, we offer early-stage access to the next unicorns before they’re unicorns.
Our portfolio represents a uniquely liquid and secure way for institutional investors to double down on the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.
ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)
The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to the completion of the acquisition of an interest in Limitless Blockchain and the timing, cost and terms thereof, the impact of the acquisition on the Company, the strategic direction of the Company, and its goal of broadening its portfolio of interests in innovative companies. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical fact contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.