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Amido AB (publ)

The biggest Digital Key Manager in Sweden and we are planning an IPO

Today real estate companies, municipality and large organizations end up with
many different access control systems creating management and difficulties keeping
the systems according to GDPR.

This problem we solve by offering a software service that keeps track of all the digital keys through an easy to use, GDPR compliance, management system that administers their different access control systems.

20% of top-50 real estate companies are our customers and the
subscription base grows 50 percent per year with a 100% retention rate over the
last years.

We are growing with profit and planning an IPO. Join us on our journey!

Investor proposal

We are growing with profit and have today more than 500 000 subscriptions and a subscription base expanding with 50 % annually. For 2019 we have already 200 000 new subscriptions to deliver.

We estimate the Swedish market to four million digital keys and the European market to 200 million digital keys. With our fast growing service we plan to have a subscription base of 5 million and a turn-over of 71 M SEK in 2021.

We are now looking for funding to enable our expansion plans and to expand our owner base in preparation for the coming IPO.

One share, one vote.

We are a public company planning to do an IPO soon. Therefore no share holder agreements or other buts and nots - all shares are equal.

Product

The problem this product solves

Today real-estate companies, municipality and large organizations end up with many different access control systems. This creates a lot of extra management and difficulties keeping the systems according to GDPR which can end in fines of millions of Euros.

When rescue services like firemen in an emergency need access to a building they might not have the key. This delays the rescue operation and valuable time is lost. Time saves life!

How the product solves it

Our service gives the user one interface that controls all access control systems, meaning that the user only needs to work in one place to update all systems.

By using our service both the new and old access control systems becomes GDPR compliant and collected in the same place. This saves our customers time, money and worry.

We are developing a service with SOS Alarm to give the rescue services digital keys to gain direct access in case of emergency. Watch the video here!

Product features

We focus on making everything easy and GDPR compliant for the user.

Our service comes with smart functions enabling the access control systems to do new things, like using your calendar to book a car from a car pool or meeting rooms.

Together with SOS Alarm (Swedish state 112 service) we are developing a service giving the fire departments access to buildings when the fire alarm goes off.This way they can skip the physical key which increases the convince and security: RescueServiceVideo

We build this with blockchain technology to create verifiable transparency and increase the level of security.

Product use cases

Any time a tenant, sub contractor or employee needs access to a building they need to have an access tag. One of the facility managers tasks is to create that tag and give it the correct access.

This is easily done with our service which then automatically sends the correct information to all the different access control systems that are involved and gives the person access.

Are you the tenant?
Why bother going down to the laundry room to book when you can do it on your phone?

Team

Johnny Berlic avatar
Johnny Berlic CEO
Johnny funded and lead the artificial intelligence startup Mindmancer and took it from idea to Nasdaq OMX First North. It is today found under the stock ticker IRIS. In the process he invented several patents, got award for "Business man of the Year in Gothenburg 2014", 33-List of hottest tech ... See more
Johnny funded and lead the artificial intelligence startup Mindmancer and took it from idea to Nasdaq OMX First North. It is today found under the stock ticker IRIS. In the process he invented several patents, got award for "Business man of the Year in Gothenburg 2014", 33-List of hottest tech companies in Sweden, G-Lab 21 Future Unicorn award 2016. Johnny has a degree in computer engineering and M.Sc. in intelligent systemdesign from Chalmers University of Technology. See less
Oskar Berggren avatar
Oskar Berggren Development Manager and Founder
Oskar had been employed at Aptus for less than a year when he joined Amido. He took the lead for design and development and leads the development work for the technical vision of Alliera. Oskar has a degree in Computer Engineering with specializations System Development and Communication from Chalmers University ... See more
Oskar had been employed at Aptus for less than a year when he joined Amido. He took the lead for design and development and leads the development work for the technical vision of Alliera. Oskar has a degree in Computer Engineering with specializations System Development and Communication from Chalmers University of Technology. See less
Anderas Selstam avatar
Anderas Selstam Developer and founder
Andreas is a developer and contractor specialized in IT, web and database development. Like any other founder he has background from Aptus but he also started and ran dvdforum.nu which was one of Sweden's most visited websites when Andreas sold it. Previous experience is from Bredbandsbolaget, as well as IT ... See more
Andreas is a developer and contractor specialized in IT, web and database development. Like any other founder he has background from Aptus but he also started and ran dvdforum.nu which was one of Sweden's most visited websites when Andreas sold it. Previous experience is from Bredbandsbolaget, as well as IT Manager at Vulcano. Andreas has a degree in M.Sc. System Sciences Högskolan i Skövde. See less
Torbjörn Hall avatar
Torbjörn Hall Developer and founder
Torbjörn like the other founders comes from ASSA Aptus, where he was the developer responsible for several product areas. Prior to that, he has had important roles in several innovation companies in Gothenburg. Torbjörn has a degree in M.Sc. Data from Chalmers University of Technology.
Peo Emgård avatar
Peo Emgård Sales Manager and founder
Before Peo founded Amido, he got 15 years of experience in consulting and project management on IT & security at Bredbandsbolaget and Aptus. At Bredbandsbolaget he was technically responsible for the west part of Sweden. At the access control system manufacturer Aptus, he worked as a business developer, product developer, ... See more
Before Peo founded Amido, he got 15 years of experience in consulting and project management on IT & security at Bredbandsbolaget and Aptus. At Bredbandsbolaget he was technically responsible for the west part of Sweden. At the access control system manufacturer Aptus, he worked as a business developer, product developer, sales and key account manager. Peo studied 14 semesters at Uppsala University and Gothenburg University, including primary school teacher education, secondary school completion and informatics. See less

Market

Target Market

Our customers are organizations that have access control systems. This includes real-estate companies, industris, university's, municipality, hospitals and everything in between.

Our subscription base of half a million is growing with 50% per year and we have an order book with 200.000 subscriptions that we are to deliver.

The Swedish market is estimated to four million digital keys and when we have delivered on our current order book we will have 20 % of the digital keys in Sweden, in our system. In Europe we estimate the market of two hundred million digital keys.

Competitive landscape

In our niche the competitors are still few. The competition we face is mostly from a supplier whose system supports their own access control system and sometimes a few others, lacking the width of our service support of many different access control brands and instead focusing on video and alarm handling instead. Some competition also comes from system that focus on identity management and in that process also have some access control management. We have not encountered any competitor with the width of brand support och functionality that has specialized on the access control part.

Unique differentiator from competitors

Our service has integrated more access control brands with more functionality than any competitor. Our focus is doing the access control part well developed and making it easy for the customer while other systems focus on alarm management or identity management. With our open API our customers and partners can make integrations and use the data we collect from the access control systems and to control them. This has resulted in applications ranging from using an app to open the door, to using the access card to pay for lunch with automatic deduction on the salary.

Company revenue streams

Our primary revenue stream comes from our subscription base where we charge our customers a monthly fee for every digital key they use in our service. We have auxiliary revenue from start and configuration fees when we import access control databases for customers and professional services in our support.

Product/service distribution

Our direct sales account for the largest turnover in Sweden. We have started working with partners and development for online sales. The expansion in Europe will be through online-driven sales and through a network of retailers and partners.

Execution

Previous milestones/traction

2008: Founded and first customer
2009: We reached 25.000 subscriptions. First municipality real-estet customer.
2012: We reached 50.000 subscriptions.
2013: We reached 100.000 subscriptions. First customer in the topp 50 largest real-estate companies.
2016: We reached 200.000 subscriptions. The financial newspaper "Dagens Industri" awarded us the "Di Gasell" award for promising growth companies.
2017: Biggest real estate company in Sweden signs on. 20% of the largest real estate companies are now our customers.
2018: We have passed 500.000 subscriptions. Company raise capital and prepares for an IPO.

Next key objectives

2018: Revenue 10 MSEK, 600.000 subscriptions.
2019: Revenue 15 MSEK, 1.200.000 subscriptions.
2020: Revenue 32 MSEK, 2.400.000 subscriptions.
2021: Revenue 71 MSEK, EBIT 20%, 5.000.000 subscriptions.

In 2019, together with SOS Alarm, we are planing to launch a product for the rescue service based on blockchain technology that gives them digital keys to gain direct access to the buildings they need in case of emergency.

Previous Financing

When the company was funded 1 million SEK was invested and seven years later another half a million was raised internally. During the last year we have raised 4 million SEK to finance an increased rate of development and expansion.

Use of funds

The capital will be used for:
1. Expansion in the EU with our core offer.
2. Development with the Swedish rescue service that will give the emergency services access to buildings with access control when an alarm is raised.
3. Sales and marketing in Sweden.

Return on Investment

The evaluation of the company is based on our current subscription base of over half a million subscriptions. We aim to take the company public once we have delivered on our current order book and reached about six-hundred thousand to three quarters of a million subscriptions which should be done in the mid 2019

We expect a 40 % higher valuation due to the increase in subscription base and revenue streams from now until then. We are a growth company and will focus to increase our market penetration and subscription base the coming years and with that, our market cap.

Risk Analysis

  • We risk reaching a full market share in Sweden in which case our growth rate would decline. In order to keep our growth rate and even increase it we need to expand into new geographic markets.
  • If key employees would disappear that could hamper our growth. All employees took the opportunity to buy shares in a public offer and are now financially invested in the success of Amido.
  • Future product releases may take longer time to develop and sell than planed.
  • Future standardization in the access control market might make it easier for new competitors to make integrations.