Martello Doubles Number of Users in Vantage DX Trials to One Million and Secures Funding from FedDev Ontario

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OTTAWA (ON), March 16, 2022 /CNW/ – Martello Technologies Group Inc. (“Martello” or the “Company”) (TSXV: MTLO), a leading developer of enterprise digital experience monitoring (“DEM”) solutions that optimize the modern workplace, today announced that its Vantage DX trial pipeline has doubled to over one million users in just two months. The Company has also strengthened its product development capacity with a $2.5 million government investment Canada.

Demand for Vantage DX continues to grow as the company approaches the end of its 2022 fiscal year. The number of users engaged in a Vantage DX trial has doubled from over 500,000 in January 2022 to over 1,000,000 today. Organizations engaged in pre- and post-sales testing are at various stages from readiness to active deployment, and include new prospects and existing customers looking to upgrade to Vantage DX. Vantage DX delivers exceptional Microsoft teams and telephony user experiences in complex hybrid work models.

After launching in fall 2021, Vantage DX now has a growing number of paid subscription customers. Vitrolife, a medical device company based in Sweden, saw an immediate return on their investment in Vantage DX: “Vantage DX has already saved our IT team hours of troubleshooting network issues that are causing problems for Microsoft Teams users,” said Stephan Pindstrup , global IT operations specialist for Vitrolife. “Before Vantage DX, we answered these problems blindfolded, whereas today we can quickly identify and solve them with real data rather than guesswork. Vantage DX has enabled our IT team to deliver cost savings and strategic value to the organization, including implementing a Microsoft Teams Service Level Agreement (SLA) that we believe we can meet or exceed, whether the user is working remotely or in the office. “

In an announcement on March 14, 2022the Honorable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment of $2.5 million through the Jobs and Growth Fund (JGF) for Martello to increase its software development capacity, create more than 25 jobs and lay the foundation for future growth.

“With a growing sales and testing pipeline supporting the optimization of the modern workplace, we are well positioned for growth with FedDev Ontario’s investment,” said John Proctor, President and CEO of Martello. “Our team is working hard to capture this market demand by increasing the speed of our trials and adding new features that meet the changing needs of businesses using Microsoft Teams, a market of over 270 million users worldwide. C This is the second time in 7 years that Martello has benefited from an investment from FedDev Ontario, which has helped scale operations and attract more qualified Canadian talent to the business.”

This press release does not constitute an offer to sell shares of the Company in United States. The securities of the Company have not been registered under the United States Securities Act of 1933 (the “1933 Act“) as amended, and may not be offered or sold in United States lack of registration or exemption from registration under the 1933 Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of the securities in any state where such offer, solicitation or sale would be unlawful.

About Martello Technologies Group

Martello Technologies Group Inc. (TSXV: MTLO) is a technology company providing digital experience monitoring (DEM) solutions. The company’s products provide monitoring and analysis of the performance and user experience of business-critical cloud applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. . Martello’s software products include Vantage DX, which provides Microsoft 365 and Microsoft Teams user experience monitoring and analysis. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, North America and the Asia Pacific Region. Learn more at http://www.martellotech.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Caution Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information can be identified by words such as: “anticipate”, “intend”, “plan”, “objective”, “seek”, “believe”, “project”, “estimate”, “seek”. expect”, “strategy”, “future”, “probable”, “may”, “should”, “will” and similar references to future periods and “includes, but is not limited to, statements regarding activities, events or developments that the Company expects or anticipates will or may occur in the future, including the outcome of the Vantage DX trials, the expectation of a $2.5M investment from FedDev Ontario, improved product development capacity, creation of 25 jobs, and plan to increase testing speed and add new functionality.

Forward-looking information is neither a statement of historical fact nor an assurance of future performance. Instead, forward-looking information is based solely on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, expected events and trends, the economy and other conditions. future. Because forward-looking information relates to the future, such statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking information. Accordingly, you should not rely on any forward-looking information. Important factors that could cause our actual results and financial condition to differ materially from those set forth in the forward-looking information include, among others, the following:

  • Continued volatility in capital or credit markets and uncertainty of additional funding.
  • Our ability to maintain our current credit rating and the impact on our funding costs and our competitive position if we do not.
  • Changes in customer demand.
  • Disruptions to our technology network, including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or human-made or other disruptions to our operation, structures or equipment.
  • Delayed purchase timelines and disruptions to customer budgets, as well as Martello’s ability to maintain business continuity due to COVID-19.
  • and other risks disclosed in the Company’s filings with Canadian securities regulators, including the Company’s Annual Information Form for the year ended March 31, 2021 dated January 7, 2022which is available on the Company’s profile on SEDAR at www.sedar.com.
  • Any forward-looking information provided by the Company in this press release is based solely on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking information, whether written or oral, which may be made from time to time, whether as a result of new information , future developments or otherwise.

SOURCE Martello Technologies Group Inc.

For further information: Tracy King, Vice President of Marketing, [email protected], 613.410.7636; John Proctor, President and CEO, [email protected]613.271.5989

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