New corporate overview and website reflects focused mission on evolving technology and expansion into new markets
Rekor (Nasdaq: REKR, the Company), a Maryland-based company using AI to provide real-time roadway intelligence, announced today it has unveiled a new visual identity. The new visual identity signals the execution of its business plan and a go-to-market strategy that enables its clients to make faster, better informed decisions through the use of the Company’s AI-based technology. The Company’s web site has changed to www.rekor.ai where a new corporate video and overview are available.
“We’ve launched this new visual identity to better reflect who we are, and what we do. In just one year’s time, Rekor has disrupted a mature market with our AI-driven technology, innovative business model and proven results. We already have a strong footprint across Public Safety, Consumer Experience and Smart City markets with a global customer base in over 70 countries and, most importantly, a disruptive pricing model. As the Company’s business continues to grow, it will provide a bridge to big data that will feed even better market insight.” said Robert A. Berman, President and CEO, Rekor.
Rekor has redefined an entire industry by using AI and machine learning to develop software that captures roadway information and identifies valuable patterns in real time. Whether replacing prohibitively expensive legacy systems that do nothing more than see a license plate or installing new comprehensive vehicle recognition and roadway management systems, governments and private companies can use Rekor technology to significantly reduce their total cost and time-to-deployment.
In conjunction with this announcement, the Company also provided additional updates as to its progress, indicating that it has:
• Forged a partnership with a major payment network processor to use Rekor technology to improve drive-thru and curbside pick-up for the quick service restaurant market
• Launched new reseller and partner program created to grow the channel and deliver mutually beneficial collaboration
• Completed automation of new licensing platform enabling frictionless distribution of our high margin SaaS products
• Continued international expansion of its iP360 Parking and citation management solution
• Added over 50 new public safety clients
• Received coverage from B. Riley FBR with an initial Buy rating and $6 price target, stating that the Company's technology is under-penetrated and well positioned for "significant growth"
The Company has also introduced a new tagline to further reinforce its messaging: AI Driven Decisions. The tagline speaks to the Company’s core mission of delivering the most advanced machine learning and machine vision technology to our customers, providing real-time roadway intelligence and delivering faster, better informed decisions whose outcomes can make their communities safer, cities smarter and businesses more successful.
The Company has also assembled an unrivaled senior leadership team with executive appointments over the last year. Berman concluded, “The combined expertise of those on our senior leadership team is second to none. The experience and vision they have each brought to Rekor over the last year has played a significant part in us reaching this milestone. Make no mistake, we are headed for greater places.”