Provenance — Confidential Investment Memorandum
For qualified investors only. Do not distribute.
1. Company overview
Provenance is building the infrastructure for artwork provenance and professional data (artists, collectors, galleries). We enable verification, CV and grant management, and lead capture so the art world can operate on trusted, structured data.
2. Market
Art market participants (artists, collectors, galleries, institutions) lack a standard way to prove and share provenance and credentials. We serve that need with a SaaS platform and future API.
3. Product & pricing
| Tier | Price | Description |
|---|---|---|
| Artist Pro | $10/month | Provenance, CV, grants, leads |
| Collector Pro | $30/month | Collection and provenance management |
| Gallery | $100/month | Gallery-level tools and workflows |
| API | Usage-based | Integration and data access for developers |
Enterprise pricing to follow.
Roadmap
- Real estate portal — Provenance and verification for property and physical assets.
4. Current capitalization
| Item | Amount |
|---|---|
| Authorized shares | 10,000,000 |
| Issued and outstanding | 9,000,000 (founders at par) |
| Reserved | 1,000,000 (e.g. option pool / future issuance) |
Founders have purchased at par; this round is the first external capital at a negotiated valuation.
5. Round terms
| Term | Detail |
|---|---|
| Instrument | SAFE |
| Valuation cap | $10,000,000 (pre-money) |
| Amount raising | $2,500,000 |
Conversion into equity at the next qualified financing at the lower of the cap or the price in that round (or per your chosen SAFE form).
6. Projections (illustrative)
Not guarantees; for discussion only.
| Scenario | Description | Approx. ARR |
|---|---|---|
| 1,000 users | Mix: 700 Artist Pro, 200 Collector Pro, 100 Gallery | ~$276,000 |
| 1,000 users | Mix: 500 / 300 / 200 | ~$384,000 |
| 500,000 users | Mix: 70% Artist Pro, 20% Collector Pro, 10% Gallery | ~$138,000,000 |
| 500,000 users | Mix: 50% / 30% / 20% | ~$204,000,000 |
| Enterprise | 5–10 institutions at $25K–$75K/year | $125K–$750K |
| API | Usage-based; 10M+ calls/month at modest yield | $50K–$500K+ |
At 1,000 users with a moderate mix, ~$275K–$385K ARR is a reasonable target. At 500,000 paying users, the same mix yields ~$138M–$204M ARR; enterprise and API can add meaningfully on top.
7. Use of funds
[E.g. 40% product/engineering, 40% growth/marketing to 1,000 users, 20% operations/legal.]
8. Team
- Bryson Brooks
- Timothy Lefkowitz
- Justin Parr
Disclaimer: This memo is confidential and for informational purposes only. It does not constitute an offer or solicitation to buy or sell securities. Any investment will be subject to definitive legal documentation.