IndoorDIRECT Expands Restaurant Footprint

I am officially a fan of IndoorDIRECT. The Company has a great business plan, and is doing a tremendous job of expanding its footprint. The Company is positioning itself to be a long-term player in the digital signage industry. In addition to raising a major round of Series B funding ($22.5 million), which brings its total capital raised to $30.5 million, the Company is continuing to sign partnerships with major quick-service and fast-casual restaurant chains across the nation.

As opposed to smaller players who attempt to grow their networks by aggregating single location businesses (which requires significantly more leg work and time) the management team at IndoorDIRECT is able to leverage its experience and connections across the restaurant industry to secure key partnerships. IndoorDIRECT's strategy for expansion is built upon the Company's ability to obtain buy-in from major restaurant chains (Arby's, Denny's, Carl's Jr) which allows them to add hundreds of locations in one fell swoop.

The Company will be installing its BITE Network across Denny's 1,500 locations, and has just signed an agreement with Hardees' to deploy BITE across its 324 restaurants. As expressed in a recent Adweek interview with Denny's CMO, the network gives its restaurant partners the ability to up sell menu items and enhance the overall guest experience.

IndoorDIRECT has an enviable growth trajectory. When you consider that the Company has signed agreements to install its BITE Network in well over 1,500 locations (that boast consistent traffic and significant dwell time), a person may be surprised to find out that the startup was founded just three years ago. IndoorDIRECT works in a vertical (QSR and fast-casual dining) that offers significant opportunities for digital out-of-home media. Over 202 million Americans age 18 older have visited a quick-service restaurant in the last month. With an average dining time of 32 minutes, I would say that is a healthy market for a captive audience network.

The Company has strategic partnerships with major content providers, in addition to creating its own original programming. The Company has developed a media platform that is optimized according to the average wait time of patrons in its partner restaurants (60 minute loop, updated daily) to ensure the highest level of viewer engagement. In securing locations that are devoid of competing media, and forging agreements that restrict partners from installing anything other than IndoorDIRECT screens for their patrons' viewing, the Company is primed to become the dominant paradigm for restaurant-based digital signage networks.

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