Cymax Group celebrates record growth, CEO Rizwan Somji honoured as one of Canada's most innovative leaders by EY

VANCOUVER, BC, July 19, 2021 /CNW/ - Cymax Group Technologies is pleased to announce that CEO Rizwan Somji has been named one of seven EY Entrepreneur Of The Year® 2021 Pacific award winners. The award – which recognizes entrepreneurs leading companies whose unbounded innovation, growth and prosperity is transforming lives – comes on the back of a record-breaking year for the leading provider of agile commerce solutions.

"It's an honour to be recognized as a leading entrepreneur in Canada. This award is a testament to our entire team whose no-fear attitude, client-first approach and relentless determination to help our vendors seamlessly move their businesses online has propelled Cymax Group's offering as a leading eCommerce technology solution," said Somji. "Thank you to EY for acknowledging the hard work of our team and congratulations to my peers and fellow award winners."

Under Somji's leadership, Cymax Group has undergone a major digital and fiscal transformation from a seller of furniture online to an end-to-end solution that is simplifying the eCommerce and freight experience, leveraging data and analytics at its core. In 2020, Cymax Group saw net sales soar 82% YoY along with a significant increase to its roster of clients, outpacing market trends.

Somji credits the success of Cymax Group to the company's internal culture of innovation and to the strength of its rapidly expanding team. Last month, Cymax Group welcomed three new board members, industry veterans Rob Williams, Sarah Kavanagh and Eric Patel, whose expertise will contribute to advancing the company's growth strategy and driving shareholder value.

In the last 18 months, team size grew by 130% and included additions to the executive team that have proven essential to scaling Cymax Group's two major SaaS platforms – Freight Club, a logistics solution, and Channel Gate, an eCommerce enablement platform – and corresponding solutions. Both skyrocketed in 2020; new Channel Gate vendors experienced a collective 700% growth rate, and Freight Club members saw shipment volume increase up to 300% as the move to eCommerce accelerated during the pandemic.

"As we move into the second half of 2021, we remain singularly focused on surfacing eCommerce and freight solutions to better serve our customers in today's rapidly-changing online marketplace," adds Somji. "I'm extremely proud of what we've built, but even more excited about the future ahead of us."

Last month, Cymax Group was named as a finalist for Company of the Year – Anchor in the BC Tech Association's 2021 Technology Impact Awards (TIAs).

The winner of the EY Entrepreneur of the Year Award Canada will be announced in November 2021.

About Cymax Group Technologies

Cymax Group is a leading provider of commerce technology and services that enable seamless activation and scale from design to delivery. Through boutique marketplaces Homesquare and Cymax Business, Cymax offers exclusive access to new markets and consumers; Channel Gate delivers integrated tech and services across leading marketplaces, and Freight Club provides retailers access to an expanded carrier network and enterprise rates through its logistics tech platform. www.cymaxgroup.com  

About EY Entrepreneur Of The Year®

EY Entrepreneur Of The Year® is the world's most prestigious business awards program for unstoppable entrepreneurs. These visionary leaders deliver innovation, growth and prosperity that transform our world. The program engages entrepreneurs with insights and experiences that foster growth. It connects them with their peers to strengthen entrepreneurship around the world. EY Entrepreneur Of The Year is the first and only truly global awards program of its kind. It celebrates entrepreneurs through regional and national awards programs in more than 145 cities in over 60 countries. Winners go on to compete for the EY World Entrepreneur Of The Year title. ey.com/eoy

SOURCE Cymax Group Technologies Ltd.