Automated home protection that respects your privacy
- London, United Kingdom
Categories: Home & Personal Mixed Digital/Non-Digital B2C
Chief Strategy Officer
Head of Operations
Head of Software
SVP, North America Operation
Head of Product Delivery
Head of Marketing
Head of Sales
Angee combines smart hardware and cloud intelligence to deliver a complete home security solution, simultaneously protecting your home and privacy.
We believe Angee is more elegant and intuitive than other systems on the market. Not only is it powered by intelligent cloud services, it also combines robust technologies like a 360° HD camera and at-the-door ID verification. And because Angee is always getting smarter -- from learning your routine to downloading new functionality -- we believe protecting your home has never been easier.
Angee completed a successful Kickstarter campaign in 2015, gaining over 1,300 pre orders which are currently being fulfilled. The $500K+ in pre-sales were supplemented by over $1.2M from private investors to take Angee from a hand-built prototype to a professionally manufactured solution.
This investment will allow the Angee team to support entrance into the US market, from producing more units and targeted marketing campaigns to building up our customer service team.
This campaign forms part of a funding round led by a number of institutional and angel investors. Seedrs investors will be receiving the same class of share as these investors. These are 1x non-participating preference shares that are convertible to ordinary shares. Investments for these shares are not eligible for SEIS or EIS tax relief.
Please note that $1.45m worth of investment is being raised by the company in US dollars and will be reflected in the campaign at an exchange rate of 1USD:0.71GBP.
Our homes can be dangerous places; there are break-ins, fires, fatal falls and other dangerous situations which are harming families and their property. Yet 75% of households in the US are not using any technology to make their homes safer. We believe the reason is because current solutions are either an invasion of privacy, too complicated to use, too expensive, or simply ineffective.
Angee is building and marketing what is an elegant and easy to use solution which protects your home without invading your privacy, breaking the bank, or constantly demanding your attention. Angee combines smart hardware and cloud intelligence to deliver a complete solution using interfaces people are used to, like their voice or mobile apps. It comes in a stylish box and each household will activate its account in order to use Angee Cloud Services.
Substantial accomplishments to date
To date, we have achieved the following:
- 1,300+ pre-orders through a Kickstarter campaign in 2015, raising over $500,000.
- Developed our own edge computing solution which allows for new firmware and features to be uploaded to installed Angee devices without disturbance of service.
- Created several original software solutions for ISM communication, BLE identification, and edge computing.
- Finalised the product and now fulfilling pre-orders.
- Attracted mix of VC and angel investors, who've already invested over $1.2M in early in 2017.
- Building our supply chain to include scalable manufacturing of hardware part.
- Built a strong technical team including CTO Rosta Lisovy who is an embedded devices expert who has previously worked on projects with Volkswagen and Head of Software Ondrej Kuchta who helped lead technical development at AVG.
- Built a strong sales and marketing team including SVP & Head of North American Operation Lee Goehring who worked in sales at Best Buy & Target and Head of Marketing Susanne Estrada who helped launch Apple products into the market.
- Grown to be a global company with Headquarters in London, Sales & Marketing in Palo Alto, USA, R&D in Prague, Czech Republic, and Sourcing & Manufacturing in Shenzhen, China.
- Aligned our US fulfilment to be able to service the US market, which is the main focus for next 6 months.
The relationship with customers is initiated when they purchase Angee in a sleek and simple box. The core product -- Angee Security -- which includes one Angee Station and one Security Tag -- will be sold for $349 in US.
The relationship with customers is solidified when each household using Angee activates their online account and uses cloud based services without additional cost. Existing customers will be encouraged to purchase Premium Cloud and On-Demand Services, generating recurring revenues, augmented by sales of auxiliary products.
Angee sells directly to the consumer (with a future prospect of B2B2C expansion through telcos and utilities), so its value is not only in products sold, but also in number of active households, who are using Angee services day to day. Selling directly to the consumer gives Angee the ability to upsell new products and services with a higher margin than through retail or third parties.
Use of proceeds
The proceeds of this investment will be used as follows:
Angee sources its hardware (which establishes the initial customer relationship) through a contracted manufacturing partner. The manufacturing cycle (from order to the shipment of the product) requires financing, which currently is provided by Angee but we intend to later shift this to third parties (credit lines, vendors) as Angee scales.
Angee is entering a market expansion phase, therefore we need to invest in customer acquisition and brand development. The major marketing and advertising focus will be through digital channels. This provision includes third-party payments (e.g. digital marketing agencies) and a sales team.
The company is expanding its team to support customers, and build new functionalities - therefore its operating costs (mainly developers, customer service, IT operations) team will likely increase before revenue will increase.
Our target market is households. We sell Angee and services directly to consumers with plans to expand into wholesale and distribution networks in order to scale faster.
Initially we will focus on the USA followed by expansion into Canada and the EU. Typical target customers are occupiers of apartments and condos, primarily renters rather than owners, particularly working professionals with a combined household income above $50k.
Characteristics of target market
We consider our serviceable available market to be 39M of the 117M households within the USA.Our target customers are apartment dwellers in metropolitan areas.
Buyers of our products and services are likely to be comfortable with technology and enjoy employing smart solutions in their everyday lives, but who not want to permanently install hardware, sign contracts or commit themselves to long term agreements.
The size of the global Smart Home market in 2018 is expected to total $46,252m, of which the USA is expected to account for $18,877m.This market is expected to reach $112.8bn by 2022, a CAGR of 25%.
Household penetration for Smarthome security is estimated to be 7.5% in 2018 and expected to rise to 19.5% by 2022.
We intend to start with 4 metropolitan areas in the US - Houston, Seattle, Los Angeles, and San Francisco.
We will lead with online sales using digital campaigns targeted to these metropolitan areas to maximise our ROI.
This will be supported with high touch offline retail channels, allowing consumers to see and experience our solution before purchase.
We already have agreements in place for the first retail stores in those initial metropolitan areas.
There are a number of competitive products in our space. We believe our USP is the fact that we focus on the complete solution and service element, which includes on demand professional and support services and the ability to upgrade functionality over the air during the lifetime of the product, creating ever-evolving versatility of the solution.
At present, we feel that there are three distinct competitive advantages offered by Angee (but because Angee’s functionality is always expanding this list will grow):
1. Respect for user privacy.
2. Autonomous protection.
3. Multi-hazard coverage.
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