Bond Wins 10,000-Employee City Contract, Eyes 1M Residents, $3M Revenue Boost
OBAI•Bond secured a deal to provide its AI security platform to 10,000 municipal employees with expansion to over 1 million residents and expects to add more than $3 million in revenue, a 30% boost to revenue base. The company converted $3.3 million debt to equity at a 200% premium and deferred $1 million repayments.
1. Citywide Deployment Deal
Bond has secured a citywide deployment of its AI-powered Preventative Personal Security platform following a successful pilot involving 10,000 municipal employees, and is expected to finalize the agreement imminently as the sole supplier.
2. Revenue Implications
The new contract is projected to generate over $3 million in annual recurring revenue, boosting the company’s revenue base by approximately 30% and underscoring rising demand in its business-to-government channel.
3. Balance Sheet Strengthening
In conjunction with the deal, Bond converted $3.3 million of outstanding debt into equity at a 200% premium and obtained deferred repayment terms on $1 million of debt, improving liquidity and capital structure.
4. Expansion Potential
Company executives are in ongoing discussions to extend platform coverage to the city’s full population of more than 1 million residents, highlighting substantial ARR upside and validating the land-and-expand strategy.
