- Software startup Inveniam runs blockchain pipes that authenticate private-market data.
- Inveniam raised a $25 million Series A in September at a valuation of $190 million.
- See the 16-page slide deck Inveniam used to raise the Series A.
For investors in publicly-traded stocks, there’s typically no shortage of company data to guide investment decisions. Company financials are easily accessible and vetted by teams of regulators, lawyers, and accountants.
But in the private markets — which encompass assets that range from real estate to private credit and private equity — that isn’t always the case. Within real estate, for example, valuations of a specific slice of property are often the product of heavily-worked Excel models and a lot of institutional knowledge, leaving them susceptible to manual error at many points along the way.
Inveniam, founded in 2017, is a software company that tokenizes the business data of private companies on the blockchain. Using a distributed ledger allows Inveniam to keep track of who is touching the data and what they are doing to it.
From foot-traffic numbers to structural engineering and hazardous material reports, Inveniam is able to maintain a record of the data’s original source, prove that it hasn’t been altered since it was created, and provide a stamp of authenticity in the process.
It’s all info that is ultimately used by Inveniam’s clients, which range from insurance companies to fund managers, pensions, banks, and real estate players.
“We’re using the blockchain not to store data but to commute trust in the data, just like a notary,” Patrick O’Meara, the CEO and chairman of Inveniam, told Insider. “We’re the distributed Edgar database,” he added, referring to the Securities and Exchange Commission’s trove of regulatory filings.
Inveniam raised a $25 million Series A in September, valuing it at $190…
