Renoworks builds on momentum by adding 37 new building products manufacturers to its digital platform
CALGARY, ALBERTA, March 14, 2017 – Renoworks Software Inc. (TSXV: RW)(PINK SHEETS: RWOKF)(“Renoworks” or the “Company”) is pleased to announce that during the fiscal year ended December 31, 2016, its leading visualizer technology became the solution of choice for 37 new building products manufacturer customers.
Renoworks offers building products manufacturers a number of different digital marketing and sales solutions that highlight the products they manufacture in a realistic, true-to-life manner. Many manufacturers choose to develop digital product libraries with Renoworks in order to expand their distribution channel on the Renoworks PROTM platform. Others choose to incorporate the full Renoworks solution suite into different marketing and sales initiatives including – online visualizers, mobile applications, builder and channel programs, or integrated pricing solutions.
Renoworks derives revenues through annual software licensing and fees associated with implementation.
“This increased number of new customers reveals the strengthening demand for our visualizer solutions and the superior results provided to our valued clients,” said Doug Vickerson, CEO of Renoworks. “For example, one of the largest window and door manufacturers in North America declared that its consumers are five times more likely to request an in-home consultation if they visited their online visualizer powered by Renoworks.” Mr. Vickerson added, “We generate revenues from four main business units and the manufacturer segment alone represents a multi-million dollar market opportunity in North America. We have just scratched the surface and we intend to build on this momentum in 2017, leveraging our industry leading digital building products library and suite of solutions to capitalize on this tremendous opportunity.”
By utilizing the Renoworks digital visualization platform, manufacturers of exterior and interior building products can benefit from increased engagement on company or partner websites, an increased number of homeowner leads, a better understanding of specific homeowner interests, and a rich compilation of user data they receive using the Renoworks platform.
Renoworks Software Inc. develops and sells unique digital visualization software for the remodelling and new home construction industry, primarily in the United States and Canada. Delivered online, as a custom developed app or desktop software, Renoworks provides its technology to manufacturers, contractors, builders and retailers offering the solution to one of the home remodelling industry’s greatest challenges: enabling customers to see how their product choices will look in a realistic, virtual environment – even in their own home – before they make a purchase decision. Renoworks markets its software as a cost-effective lead generation tool and generates revenues from four main business lines: Enterprise, Renoworks PRO, Renoworks GSB and Renoworks SDK (Software Development Kit). For more information, visit: www.renoworks.com and www.renoworkspro.com.
For further information please contact:
Doug Vickerson, CEO
Renoworks Software Inc.
2721 Hopewell Place NE
Calgary, Alberta, Canada T1Y 7J7
For investor information for Renoworks please contact:
Contact Financial Corp.
1450 – 701 West Georgia St.
Vancouver, BC, Canada V7Y 1G5
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements in this news release, other than statements of historical fact, are forward looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.