Abode (or the "Company") has a defensible and proven model that delivers highly targeted digital advertising in premium residential buildings.

Investment Rationale

• Digital screens installed in lobbies of high-end residential properties give advertisers directly measurable access to premium audiences.

• Landlords benefit from revenue sharing and a free content communication platform, beyond simply advertising, that tenants positively appreciate.

• Profitable business model proven in the US, Canada and China.

• Founders have >95 years’ experience in, and a track record of exiting, successful Digital Out-of-Home (OOH) advertising ventures.

• Exclusive media rights for >900 top-tier London buildings provide a “landbank” for screen installations and a barrier to competition.

Progress Since Initial Investment

• Revenue: run rate c.£750k p.a. Clients include HSBC, JP Morgan Chase, BA, Uber Eats, and Waitrose. Most have made repeat orders.

• Efficacy proven. Independent research demonstrated extremely high brand recall and engagement. Waitrose recorded ROI of 12.5x ad spend, Uber Eats achieved 5.4x. 

• Value driven pricing: panel rates are 50% above initial projections.

• Cost savings: £2,500 per install were projected, now reduced to £750.

• Installed screens: now cover 35,578 apartments at the projected average of 100+ apartments per building.

• Additional sites contracted: including premium developers Berkeley Group, Seven Capital, Cortland, Related Argent, Savills and Uncle.

Fundraise Summary

• Abode is raising up to £1m (£550k minimum) at £7.6m pre-money valuation. The price per share, which includes 1x liquidation preference, is 55p, a small increase from 51p in the 2024 initial 2024 investment round.
• The funds will be used both for working capital and roll out of screen installations.

• Investors in this equity round will also receive an option to invest in a 10% Convertible Loan Note. The conversion, also at investors’ option, will be priced according to performance, further mitigating risk.

Potential Exit

• M&A is common in the OOH industry. Exit is planned to trade or PE in 4-5 years, at a target valuation of c.£100m (10x projected EBITDA).

• Achieving this target would provide 11.8x return for investors (16.8x after EIS relief).