Factom

blockchain

FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 10/07/2020

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About

Factom uses blockchain-based identity ledgers in database management and data analytics to support various applications.

MEDICI Analysis

Factom uses blockchain-based identity ledgers in database management and data analytics to support a various application.

Focus

PRODUCTS & SERVICES

Bitcoin blockchain-based database management service

REVENUE MODEL

A user can bundle 50-100 records together and pay only one small fee, instead of paying 50-100 individual fees 

MAIN CLIENTS

Businesses

PRIMARY PROBLEM SOLVED

The platform reduces the cost and complexity of conducting audits, managing records, and complying with government regulations.

COMMENT

The company recently launched Factom Harmony, a product which aims to bring transparency and immutable audit records for the compliance in the U.S. mortgage industry(Apr 2017).

Traction

VALUATION / MARKET CAP:

$81.33 M in 2017

NUMBER OF TRANSACTIONS:

2 M

People

FOUNDERS

Peter Kirby

Tiana Laurence

David Johnston

Abhiśek Dobhal

BOARD MEMBERS AND ADVISORS

Andrew Yashchuk

Steven Sprague

Craig Sellars

Bruce Fenton and many more

David Johnston

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Draper Associates

FastForward Innovations

Fenbushi Capital

Medici Ventures

Overstock

Peeli Ventures

Plug & Play

Plug and Play

Stewart Title

Tally Capital

Tim Draper

KEY EMPLOYEES:

Peter Kirby(CEO)

Brian Deery

Paul Snow

Momentum

FUNDED

YES

TOTAL FUNDING

$14.4 M

DATE OF LAST FUNDING

Aug 2018

SEED & PRIOR FUNDING

$400 K

SEED CLOSED ON

Oct 2015

FUNDING SERIES

SERIES A  · $8 M  · Apr 2017

OTHERS  · $6 M · Aug 2018

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2014

LOCATION:

United States

Views:

1727 VISITORS | 2392 VIEWS
LATEST FUNDING ROUND

$14.4 M

TOTAL EMPLOYEES
11-50

About

Factom uses blockchain-based identity ledgers in database management and data analytics to support various applications.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Factom uses blockchain-based identity ledgers in database management and data analytics to support a various application.

Focus+
Momentum+
Traction+
People+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

Factom

About

Factom uses blockchain-based identity ledgers in database management and data analytics to support various applications.

Focus

PRODUCTS & SERVICES

Blockchain-based database management service

REVENUE MODEL

A user can bundle 50-100 records together and pay only one small fee, instead of paying 50-100 individual fees 

TOP PROBLEM SOLVED

Factom solves the core limitations and security risks arising from centralized databases.

PRODUCT DEVELOPMENT STAGE

MVP

PRODUCT DEVELOPMENT COMMENT

Launching of Milestone 2 in the summer of 2016.

KEY DIFFERENTIATORS

Proving the negative. Hybrid between a secure distributed ledger with the speed, flexibility and cost reduction of a side chain. Light weight and immensely scalable.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Others

STRATEGIC CLIENTS AND PARTNERSHIP

USAA : POC

People

FOUNDERS

Peter Kirby

Tiana Laurence

David Johnston

Abhiśek Dobhal

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO, FOUNDER: Peter Kirby

CMO, FOUNDER: Tiana Laurence

employee: Peter Kirby(CEO)

FOUNDER: David Johnston

founder: Brian Deery

founder: Paul Snow

FOUNDER: Abhiśek Dobhal

BOARD MEMBERS AND ADVISORS:

Andrew Yashchuk, Steven Sprague, Craig Sellars, Bruce Fenton,many more, David Johnston

INVESTORS:

Draper Associates

Draper Associates

Draper Associates

Draper Associates

Draper Associates

FastForward Innovations

Fenbushi Capital

Medici Ventures

Medici Ventures

Medici Ventures

Medici Ventures

Medici Ventures

Overstock

Peeli Ventures

Peeli Ventures

Peeli Ventures

Peeli Ventures

Plug & Play

Plug and Play

Plug and Play

Plug and Play

Plug and Play

Stewart Title

Tally Capital

Tally Capital

Tally Capital

Tally Capital

Tim Draper

Momentum

FUNDED

YES

TOTAL FUNDING:

$1.8 M

LISTED

NO

FUNDING SERIES
Seed --- USD1.8 M at a USD11 Mvaluation