RENOWORKS AND GEOMNI PROUDLY ANNOUNCE STRATEGIC PARTNERSHIP TO ADVANCE HOME DESIGN-TO-PROJECT DELIVERY PROCESS
CALGARY, ALBERTA, September 25, 2018, – Renoworks Software Inc. (TSXV: RW) (“Renoworks”), is proud to announce it has entered into a strategic partnership with industry leading geospatial data company Geomni (“Geomni”), a Verisk (Nasdaq:VRSK) business, to advance the home design-to-project delivery process in construction and remodeling markets.
Geomni’s vast expertise in delivering detailed measurements and analytics that serve multiple markets including insurance, architecture, emergency response, urban planning, and more, combined with Renoworks’ leading visualization services and extensive manufacturer product libraries powering the home remodeling and construction industry, provide additional growth opportunities and exciting innovation conduits for both companies.
The agreement allows Renoworks and Geomni to act as mutual value-added resellers (VAR) of their respective product solutions with initial deployment focused on manufacturer and material supplier markets. Renoworks and Geomni’s joint technology partnership will enhance the design and delivery experience through innovative solutions for businesses and the wider industry.
"Renoworks visualization platform is the perfect distribution vehicle for Geomni’s imagery analytics tools in the home construction market."
Jeffrey C. Taylor, President at Geomni stated “Renoworks visualization platform is the perfect distribution vehicle for Geomni’s imagery analytics tools in the home construction market. Supporting this market by improving performance and creating significant impact in the value chain is a key strategy Geomni is pursuing to provide critical solutions for homeowners.”
Improving the Home Design-to-Project Delivery Process
The home design-to-project delivery process remains one of the most lengthy and inefficient processes for homeowners today, consisting of budgeting, design, measurements, estimation and contracting services to complete projects.
Improving the homeowner experience is an integral part of driving the residential construction industry forward as well as verticals such as insurance and home rehabilitation.
Doug Vickerson, CEO of Renoworks stated, “When it comes to supporting the home delivery process in the measurement and estimation phases, Geomni’s geospatial technology and property data stores are the most advanced and comprehensive in the industry.”
Mr. Vickerson continues, “As we continue to improve the customer experience, we recognize our involvement must scale into interconnected verticals to better serve the market and support the home design-to-project delivery process.”
“Partnering with an industry leader like Geomni is a water shed moment for Renoworks and validates our own leading visualizer technology. As our partnership evolves, this strategic alliance holds the potential to drive significant awareness for our innovative visualization solutions and drive our top and bottom line over the coming years. Additionally, our partnership will help Renoworks continue to fulfill its mission of bridging the gaps in the value chain and we look forward to working with the Geomni team to do so.”
About Geomni
Geomni, a Verisk (Nasdaq:VRSK) business, is centered around an address- and location-based database of property-related analytics. Using the latest remote sensing and machine learning technologies, Geomni gathers, stores, processes, and delivers geographic and spatially referenced information relating to residential and commercial structures. Property professionals can use the data to help determine scope of damage, discover hazards, assess risk, perform valuations, and much more. Our property analytics database supports a number of critical tools that protect people, property, and financial assets. Learn more at www.geomni.net.
About Verisk
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2017, Forbes magazine named Verisk to its America’s Best Mid-Size Employers list and to its World’s Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.
About Renoworks
Renoworks Software Inc. develops and sells unique digital visualization software and integration solutions for the remodeling and new home construction industry. Renoworks delivers its technology to manufacturers, contractors, builders and retailers offering solutions to one of the home improvement industry’s greatest challenges: enabling homeowners to review their product selections in a hyper realistic, virtual environment before committing to purchases and construction. Renoworks markets its technologies as innovative engagement tools and generates revenues from four main business lines: Renoworks Enterprise, Renoworks PRO, Renoworks Design Services and Renoworks SDK (Software Development Kit). For more information, visit: www.renoworks.com and www.renoworkspro.com.
For further information on Geomni please contact:
Erin Bzymek
MWWPR (for Verisk)
Phone: 201-507-9500
Email: ebzymek@mww.com
For further information on Renoworks please contact:
Doug Vickerson, CEO
Phone: 403-296-3880
Email: doug.vickerson@renoworks.com
Renoworks Software Inc.
2721 Hopewell Place NE
Calgary, Alberta, Canada T1Y 7J7
For investor information for Renoworks please contact:
Rob Gamley
Phone: 604-689-7422
Email: rob@contactfinancial.com
Contact Financial Corp.
810 – 609 Granville St.
Vancouver, BC, Canada V7Y 1G5
Forward Looking Information
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.