VOLCANIC RETAIL REPORTS SUCCESS WITH STREAMLINED AI PLATFORM FOR RETAIL BUYERS AND BRANDS

First brand-buyer, two-way communication app in retail brings on thousands of new users and grows valuation

PROVO, Utah, June 7, 2023 /PRNewswire/ -- Volcanic Retail, the industry's first two-way communications platform built to connect retail buyers and brands, today reported significant milestones in company growth since its launch last year. To date, more than 2,000 buyers and 7,000 brands have joined the platform as the company expands into fast-growing retail categories including grocery, consumer electronics, toys, pet supplies, hardware and more. Bolstered by its advisory board, key partnerships and investment strategy, the company's valuation has erupted to 1900% of its valuation at launch.

Recognizing that the retail purchasing industry has historically been bogged down by inefficient practices such as costly and inefficient tradeshows magnified during the pandemic, Volcanic Retail was founded to empower brands and buyers with a more efficient way to do business. The platform offers AI-based analytics for curated recommendations and trends, searchable brand profile and product pages, as well as buyer calendars and contact windows to leverage efficiency for those bringing products to shelves.

"This rapid adoption from users across the industry is evidence of how this massive market of buyers and brands is ripe for disruption," said Jeremy Brockbank, chairman and CEO of Volcanic Retail. "This past year, we have invested in building a streamlined platform that provides retailers and brands with a much more affordable and efficient way to do business than ever before. By offering in-demand features including AI-based predictive analytics, direct messaging functionality, invite capabilities, influencer outreach tools and more, we are addressing some of the most prevalent pain points in the retail industry in a way that has never been done before."

At launch, Volcanic Retail focused on three of the fastest-growing retail categories in the United States, including outdoor world, specialty and natural grocer and pharmacy. Since then, additional categories have been added to meet market demand, including consumer electronics, farm and ranch, hardware, cosmetics and pet care, among others. This strategic expansion has resulted in a total of 7,000 brands joining the platform.

"The new features Volcanic Retail has added to the platform are critical for enhancing the business transactions between buyers and brands," said Richard Diamond, former vice president of Office Depot and OfficeMax and member of the Volcanic Retail advisory board. "Identifying and solving the challenges that specific retail categories experience has been key to our growth over the past year. These predictive analytics and extensive search tools not only save time and money for buyers and brands, but they also help us change the antiquated landscape of the entire industry."

In addition to user growth, Volcanic Retail has begun its first of four rounds of crowdfunding utilizing a platform called WeFunder. Most tech companies rely on investment associated with venture capital and private equity groups, but Volcanic Retail aims to support its surrounding community as it grows by leveraging ways for residents in nearby cities to invest at a low cost, as little as $200. This consistent crowdfunding has led to tremendous valuation growth in a short period of time while fostering lasting relationships with the community. The company plans to utilize funds to add features to the platform, increase staffing and enhance its database of buyers and brands.

For more information about the platform visit volcanicretail.com.

ABOUT VOLCANIC RETAIL
Based in Utah's burgeoning "Silicon Slopes" corridor, Volcanic Retail is a business-to-business brand discovery platform that connects buyers and brands to conduct business with each other in real-time. Through a robust lineup of tools and features, the innovative digital platform streamlines the buy-sell process and enables new brands to be discovered by retailers. The growing Volcanic Retail management team is comprised of entrepreneurial minds with a mix of experience leading and consulting Fortune 500 and Inc 5000 companies, retail consulting and software development. Learn more at https://volcanicretail.com.

SOURCE Volcanic Retail