San Jose, CA -- January 10, 2019 -- InvestorsHub NewsWire
-- Sonasoft Corp. (OTCQB: SSFT), a leader in
innovative eDiscovery and artificial intelligence (AI) solutions,
is pleased to provide shareholders with its goals and revenue
guidance for 2019.
In 2018, Sonasoft posted a number of significant achievements,
which positioned the Company for substantial growth and
expansion. These achievements include:
- Increased revenue significantly compared to the previous
year
- Uplisted to the OTCQB Venture Market
- Completed a two-year audit
- Developed Key partnership with Exterro
- Secured Major clients such as the San Jose Sharks and Golden
Gate Bridge
- Successfully launched its Artificial Intelligence (AI)
Platform
- Secured first AI customer contract from Fortune 1000
company
- Completed a preferred share rollup that reduced its outstanding
share count of common stock by nearly 50 percent
“We had quite an exciting year for 2018,” said Andy Khanna, CEO
of Sonasoft. “We are even more enthusiastic to enter 2019 and build
on the momentum already achieved. We have a number of
initiatives ready to launch that will add significant value to the
Company, so 2019 should be another tremendous year for the company
and its shareholders.”
GOALS FOR 2019:
Additional Acquisitions & Mergers
The Company intends to acquire at least one more company in 2019,
but it may acquire up to three companies if there is a strong value
proposition. The Company has entered negotiations with two
complementary companies which would add significant value to the
organization. Sonasoft is looking for perfect fits that will
strengthen its intellectual property (IP) and boost immediate
bottom-line revenue as well as deliver an overall profit.
Emphasis on Enterprise Market Accounts
The Company is shifting away from the SMB market and moving towards
larger enterprise-sized accounts. This is a natural
progression for the business following the 2018 acquisition of
Cornerstone Technologies and its strategic partnership with
Exterro, the recognized leader in the eDiscovery and legal software
market. Sonasoft’s eDiscovery and email archiving solutions
are ready for the enterprise market. The recently announced
customer-win of NHL team, the San Jose Sharks, where Sonasoft’s
solution displaced a leading enterprise-level competitor clearly
demonstrates that Sonasoft can compete and become a key player in
this market.
Expand on the Strategic Partnership with
Exterro
The Company intends to expand on its strategic partnership with
Exterro. The Company will further integrate its SonaVault Archiving
and eDiscovery Solution to enhance Exterro’s Orchestrated
E-Discovery Suite. This will make the Company’s own IP
solution a high-value proposition that is expected to increase
revenue in the enterprise market.
Expand Its Artificial Intelligence (AI) Platform &
Increase Sales
Sonasoft further intends to expand its artificial intelligence (AI)
platform to offer new solutions to an array of industry
needs. As announced last year, the Company won a major
contract from a Fortune 1000 Tech Company to increase the accuracy
of its online technical support search portfolio to reduce costs
and increase customer satisfaction. For 2019, the Company
also intends to offer AI-based solutions that will predict and then
prevent non-performing assets in the financial sector, forecast
sales and revenue, calculate the demand for support, and apply
other predictive applications to real business challenges.
The Company has already tested these enhanced AI functionalities
and is currently engaged with potentially interested enterprise
customers to adopt them.
Increase Revenue
Following the acquisition of Cornerstone Technologies, the launch
of its AI Solution, and after securing a number of large customers
last year, the Company projects significant revenue increases for
2019 compared to 2018. Further, the Company continues to press
forward with the sales process for its AI solution, targeting large
enterprise customers and has a number of deals progressing well.
With all of this considered, it is difficult to accurately forecast
revenues, however, the potential is enormous. As the year
progresses, the Company intends to release its revenue predictions
for 2019 year-end.
Strategic Marketing Initiatives
Sonasoft has engaged with a marketing firm to add a stream of fresh
and engaging content to position itself as a thought leader in the
eDiscovery and Artificial Intelligence (AI) space. The goal
is to increase enterprise-level leads, awareness of the brand and
its products, and position itself as a recognized leader in the
industry through organic SEO and various other forms of marketing
and online advertising.
“This is an exciting time for Sonasoft,” said Andy Khanna, CEO
of Sonasoft. “The Company is at a stage where it’s about to really
take off. We completed every single one of the goals that we
announced last February 2018. Now, we are making equally ambitious
but absolutely attainable goals for 2019. We are confident
that the hard work and strategic initiatives will continue to pay
off resulting in strong growth and increased revenue throughout the
year. I am extremely proud of our team members for what they
have accomplished, and I have the utmost confidence that this
success will continue throughout 2019.”
Additionally, the Company is pleased to announce that Sonasoft’s
President, Mike Khanna, has been appointed to its Board of
Directors effective immediately. Mike Khanna will continue in
his current position as President and will oversee investor
relations (IR) and marketing for the Company.
Further updates regarding the Company and its 2019 initiatives
can be expected in the coming weeks.
For a no-cost consultation and to learn more about more about
the power of Sonasoft’s Artificial Intelligence (AI) Solutions,
visit us here:
https://www.sonasoft.com/products/artificial-intelligence-ai/
To obtain the latest company updates in between press releases,
please follow us on Twitter @Sonasoft or visit us here:
https://twitter.com/Sonasoft
About Sonasoft
Sonasoft Corporation is a publicly traded corporation and is
listed on the OTCQB Markets under the trading symbol SSFT
(OTCQB:SSFT). Sonasoft is now an AI-first company. The Company
intends to integrate artificial intelligence (AI) into the
Company’s core business model, which includes enterprise-class
archiving, eDiscovery, and business continuity software solutions
for Microsoft Business Applications on Microsoft Windows platforms.
Sonasoft’s signature products for eDiscovery tools, which include
SonaVault 6.1 Email Archiving and eDiscovery Software, as well as
SonaVault Email Archiving Appliances, deliver affordable
enterprise-level functionality that exceeds compliance and
ease-of-use requirements of large and medium-sized businesses,
governments, school districts, organizations, and
enterprises. The Company also launched SonaSecure, which
protects systems from ransomware and other email-based threats as
well as provides email continuity services. In addition,
Sonasoft offers data export and migration services for competing
email archiving solutions. Sonasoft email archiving and eDiscovery
solutions have hundreds of deployments with an exceptionally high
degree of customer satisfaction. Founded in 2003, the Company is
headquartered in San Jose, California.
About Cornerstone Technologies
Based in the heart of Silicon Valley, Cornerstone Technologies,
a wholly-owned subsidiary of Sonasoft Corp., is a leading provider
of engineering services focused on messaging migrations, identity
access management, the modern data center, and managed services
solutions. Cornerstone Technologies plays a pivotal role in the
transformation of their clients' IT environments. Cornerstone
Technologies is a key partner to Microsoft, Dell/EMC, VMware, and
TransVault, and the Company has built an impressive customer list
across multiple verticals, which include retail, high tech,
healthcare, public transportation, and financial services.
For further information about Cornerstone Technologies, please
visit:
https://cornerstonetechnologies.com/
For more information about Sonasoft’s email archiving solutions and
business continuity software, contact:
Mike Khanna
Sonasoft Corporation
Phone: (408) 708-4000
Source: https://www.sonasoft.com
Forward-looking Statements
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers with
respect to, among other things: (i) the Company’s financing plans;
(ii) trends affecting the Company’s financial condition or results
of operations; (iii) the Company’s growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,”
“believe,” “intend,” and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company’s ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors.
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