The agreement follows a successful pilot of Bond’s platform with both Jerusalem residents and municipal employees. Following the pilot, the City elected to begin its initial deployment with its approximately 10,000-person municipal workforce. The agreement was signed by Jerusalem Mayor Moshe Lion, and Bond has already begun onboarding city employees, including social workers, administrative personnel, drivers, security personnel and employees across other municipal departments. The signing concludes the citywide agreement Bond had previously secured, but not yet signed, with a major international city of more than one million residents, which Bond is now able to identify by name.

Bond believes Jerusalem represents an important proof point for its strategy of working with cities as an efficient channel to reach large populations, especially since as in other cities Bond was recognized as a "sole supplier" and was not required to participate in a competitive tender process due to the uniqueness of Bond’s preventative personal security services. The Company estimates that there are hundreds of millions of municipal workers globally, representing an estimated $40 billion addressable market based on Bond’s current pricing assumptions.

"We are beginning to see the results of the investments we made to drive growth following our public listing," said Doron Kempel, Founder and Chief Executive Officer of Bond. "The municipal market represents a particularly promising and efficient route to market for Bond. In Jerusalem, we are beginning with approximately 10,000 city employees, but see significant room for growth by expanding the deal to include residents. In another recently secured city deployment, the municipality is funding Bond for approximately 270,000 residents and its municipal workforce. In both cases, the city serves as a highly efficient channel for bringing Bond’s preventative personal security services to large populations."

Mr. Kempel continued, "Our objective is straightforward: to make professional personal security accessible to as many people as possible. Cities, much like large corporations, can provide Bond with a direct path to thousands, or potentially hundreds of thousands, of end users through a single relationship. Importantly, these recent wins are in markets where Bond is already operational, allowing us to scale without significant additional infrastructure investment. As utilization grows, we expect to add Bond Personal Security Agents at ratios to the number of end users protected that allow for very compelling economics, supporting what we are confident will be a highly scalable and increasingly profitable operating model."

Bond’s technology platform combines artificial intelligence, advanced mobile capabilities and professionally trained Personal Security Agents to deliver proactive, real-time personal security support. Unlike traditional emergency-response solutions that primarily react after an incident has occurred, Bond is designed to help prevent, deter and de-escalate potentially dangerous situations before they become emergencies.

The Company believes its differentiated platform, the product of over $100 million of investment, continues to provide a significant competitive advantage as it expands. Bond is not currently encountering direct competition capable of providing the same combination of AI-powered technology, live professional security support and preventative personal security services at scale, and believes that any potential competitors will require tens of millions of dollars and years of development to compete.

Bond intends to continue pursuing municipal opportunities, initially focusing on international markets where its infrastructure and operations are already established. By leveraging its existing capabilities, the Company believes it can onboard substantial new populations while maintaining operating efficiency and limiting incremental infrastructure requirements.