Papirys

blockchainregtechauthentication and fraud prevention

FOUNDING YEAR: 2016
LOCATION: United States
Last Update: 01/05/2020

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About

Papirys automates encryption and access rights. Our artificial intelligence is able to recognize users and run computations or queries on their behalf within a sealed environment. This means that financial or personal information is encrypted even while it is in use. Papirys automates security to minimize human error.

MEDICI Analysis

Papirys is a data encryption platform that allows people within an organisation to edit files while it is encrypted. The company creates an enterprise's blockchain database to provide the data security, verification & access efficiency for enterprises. Papirys is an operator of an encryption utility company. The company engaged in providing encryption utility services allows multiple people within an organisation to edit files while it is encrypted.

Focus

PRODUCTS & SERVICES

Data encryption software for organizations.

REVENUE MODEL

Annual subscription for $250,000 software installation. Will have 2 customers in year one and 159 by year 5.

PRIMARY PROBLEM SOLVED

We ensure the data is always encrypted so that it can't be stolen or misused while in use. Our automated encryption is not only more secure but a greater convenience for protecting personal and financial information.

INTELLECTUAL PROPERTY

Patent(s) GRANTED

COMMENT

Papirys provides distributed information within the blockchain so that the file has complete end-to-end encryption. This information can be transmitted as source code, CAD files, machine-to-machine communication (IoT), or audio/video feed through our proprietary blockchain structure in real time.

People

FOUNDERS

Bryce Chaney

Liam Krut

Jordan Chaney

Charlie Houshoulder

BOARD MEMBERS AND ADVISORS

Dudley Lacey

Christian Nimsch

Bryce Chaney

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

Bryce Chaney (CEO & President); Charles Housholder (CSO); Liam Krut (CTO)

COMMENT:

We all have technical skills AND business skills. We are 100% focused on building software to help our customers.

Momentum

FUNDED

NO

LISTED

NO

For Investors

FUNDING NEEDED:

$1.5 M

USES OF FUNDS RAISED:

1. Hire 4 FTE programmers

2. Purchase servers

3. Purchase work stations

4. Hire 2-3 FTE sales team

EXIT STRATEGY

Acquisition within 3-4 years by one of our largest customers.

MONTHS LEFT WITH CURRENT CASH BURN RATE:

6 months from 23 Mar, 2017

Innovation Programs

BASICS

FOUNDING YEAR:

2016

LOCATION:

United States

Views:

521 VISITORS | 1191 VIEWS

About

Papirys automates encryption and access rights. Our artificial intelligence is able to recognize users and run computations or queries on their behalf within a sealed environment. This means that financial or personal information is encrypted even while it is in use. Papirys automates security to minimize human error.

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

Papirys is a data encryption platform that allows people within an organisation to edit files while it is encrypted. The company creates an enterprise's blockchain database to provide the data security, verification & access efficiency for enterprises. Papirys is an operator of an encryption utility company. The company engaged in providing encryption utility services allows multiple people within an organisation to edit files while it is encrypted.

Focus+
Momentum+
People+
For Investors+
Other+

Innovation Programs

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Papirys

About

Papirys automates encryption and access rights. Our artificial intelligence is able to recognize users and run computations or queries on their behalf within a sealed environment. This means that financial or personal information is encrypted even while it is in use. Papirys automates security to minimize human error.

Focus

PRODUCTS & SERVICES

We offer a software development kit that encrypts your data while it is at rest, in transit, or in use. Papirys connects to standard APIs and is in highest demand by potential customers for encrypted analytics and encrypted updates to SQL databases in the cloud, hosting sensitive personal and financial information.

REVENUE MODEL

Annual subscription for $250,000 software installation. Will have 2 customers in year one and 159 by year 5.

TOP PROBLEM SOLVED

We ensure the data is always encrypted so that it can't be stolen or misused while in use. Our automated encryption is not only more secure but a greater convenience for protecting personal and financial information.

PRODUCT DEVELOPMENT STAGE

MVP

PRODUCT DEVELOPMENT COMMENT

Our current investors have reinvested because of successful milestones reached. We are also negotiating pilot projects with 6 multi-billion dollar companies.

KEY DIFFERENTIATORS

1. 6.7 millisecond latency 2. No file size limit 3. AI automation of computing 4. Can run on a Raspberry Pi 5. Distributed key system

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Others

PRODUCT ATTRIBUTES

SaaS

People

FOUNDERS

Bryce Chaney

Liam Krut

Jordan Chaney

Charlie Houshoulder

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Bryce Chaney

CTO, FOUNDER: Liam Krut

employee: Bryce Chaney (CEO & President); Charles Housholder (CSO); Liam Krut (CTO)

FOUNDER: Jordan Chaney

FOUNDER: Charlie Houshoulder

TEAM COMMENT:

We all have technical skills AND business skills. We are 100% focused on building software to help our customers.

BOARD MEMBERS AND ADVISORS:

Dudley Lacey, Christian Nimsch, Bryce Chaney

Momentum

FUNDED

NO

TOTAL FUNDING:

$300 K

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed Jan 2017 --- USD300 K at a USD0.00valuation Comment on Seed Funding was convertible debt with no cap. Our two main angels have reinvested because of successful milestones and product-market fit.

Comment on Valuation

Pre-valuation