Cre8tek (ASX: CR8) Completes $3.5m Placement, Signs 3rd Trial Agreement with a US-Based Insurance Company & Wins Contract with Metlife Asia

Cre8tek Limited (ASX:CR8) owner of high-tech, Artificial Intelligence company, Flamingo Customer Experience Inc. has recently provided an update on the activities for the three months ended 30 June 2017.

KEY TAKEAWAYS:

• Signed a Trial Agreement contract with a third US based insurance company
• North American and Australian customer paid trials progressing into implementation and integration, with two in User Acceptance Testing (UAT)
• Flamingo continues to execute its North American strategy with a growing pipeline
• AsiaPacfi8c expansion strategy commenced with the winning of Judge’s Selection for Asia based contract with Metlife Asia. Flamingo was one of three winners of a contract with MetLife Asia, from 8 Finalists and 140 entrants – globally
• Successful completion of $3.5m placement to sophisticated and institutional investors
• Receipt of the R&D Tax Incentive of $723k
• Significant progress undertaken on the development of new product, Virtual Inquiry Assistant
• Submission of additional patent applications for the JourneyAssist and ROSIE machine learning technology in 14 jurisdictions
• Strong interest in the US, Australia and Asian markets continues to strengthen the sales pipeline

The Company’s key focus over the remainder of CY17 is the execution of current paid client implementations across Australia and the North American markets. This includes establishing operational capabilities across Australia and the US to support live clients with 24×7 support infrastructure. In addition, the Company will continue to progress efforts and resources into maintaining a high level of security capability in the Flamingo platform and a Culture of Security across the business.

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