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Concert

USA, California
Market: Real estate, Blockchain
Stage of the project: Operating business

Date of last change: 27.10.2022
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Idea

Concert is a data sharing platform for design & construction. We use blockchain to uniquely authorize & permanently record mission-critical file exchanges. We are in use on over $20 billion projects.

Current Status

We have four large customers so far. They are using Concert on almost 200 of their projects with an estimated project value of over $20 billion. Total ARR with these customers is $8.3 million.

We have a sales pipeline with over $130 million in ARR.

Problem or Opportunity

According to Autodesk, bad data cost the construction industry $1.84 trillion in 2021. Bad data results from multiple teams keeping private versions of shared information, and teams won't move from that system until they have a way to ensure that share information is permanent.

Solution (product or service)

Concert has created a way that teams can share their data. We do this by notarizing their exchanges in blockchain records. Since this trustful information is not owned by any individual team nor even by Concert, teams feel confident using it as a single source of truth.

Business model

Concert is paid when architects, engineers and contractors publish their work. We charge $5 per data collection and $10 per authorized signature. This is part of the data management budget that is ultimately charged to the customer.
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