Gaithersburg, MD, June 10, 2020 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTCQB: XDSL) (“mPhase” or the “Company”) is pleased to report that it has added two new channel partners for its Learning Track platform. The addition of these two channel partners increases the total number of channel partners to three, each of which will be targeting different customer verticals within their respective sales networks.
These two new channel partners are focusing on over 300 universities and institutions of higher education along with government, private training companies, and industrial and business clients outside of the Company’s previous geographic and occupational footprint. The new channel partners are expected to be an important source of additional recurring business, as the Company begins its next growth phase in the online learning and training space.
“Channel partners are going to play an important role in the growth of our platform,” said CEO Anshu Bhatnagar. “These sales organizations will enable us to more quickly establish our brand and generate exposure in key categories, particularly higher education. This will also help us achieve scale without having to invest heavily in a dedicated sales force. The training and testing space is waking up again after slowing during the pandemic. These new channel partner relationships are perfectly timed to benefit from a resumption of activity in the space. This type of business tends to be 80%+ recurring, so any new customers from these sales channels will add to our existing recurring revenue streams.”
mPhase anticipates adding additional channel partners in other regions in the future as it expands its international presence. As previously reported, the Company is actively working to increase its customer base in order to diversify its sources of revenue. Based on current sales activity, mPhase expects additional growth in the learning division during the remainder of calendar year 2020.
About mPhase Technologies
mPhase is a technology driven, innovative development company that creates and commercializes products and applications that impact everyday people. The Company is assembling industry-leading teams specializing in artificial intelligence, machine learning, software, consumer engagement, and other advanced technologies. Additional information can be found at the mPhase website, www.mphasetech.com. Please follow us on twitter: @mPhase_Tech for the latest updates.
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