Founded in 2018 by former Procore executive Bassem Hamdy and Wall Street expert Ron Goldshmidt, Briq quickly became a leader by blending blockchain technology with advanced machine learning to offer strategic insights into the construction sector.
Initially known as Brickschain, the company embarked on its journey, focusing on leveraging blockchain technology to address challenges in data warehousing. As the business grew and the team’s vision expanded, incorporating a broader array of technologies such as intelligent process automation and neural networks, a rebrand became essential, and Brickschain transformed into Briq. The new brand name cleverly played on the word ‘brick’, symbolising the company’s role as a crucial element in reshaping the construction business through technology. Unusual spelling in brand names, as seen in companies like Lyft and Tumblr, serves multiple purposes: it helps them stand out in a crowded marketplace, making it easier to secure both a domain name and trademark, and it conveys a youthful, trendy vibe to the brand.
Briq initially launched with the domain Briq.ai, a choice that nods to their early adoption of artificial intelligence. The .ai country domain extension is a popular option among tech startups due to its association with cutting-edge technology and greater availability than traditional top-level domains (TLDs).
In 2023, Briq acquired the exact brand match domain name Briq.com, enhancing the company’s marketing effectiveness across various channels and significantly reducing security risks. Briq’s move to a more universally recognised domain aligns seamlessly with its strategy to expand into new geographic territories in the coming years, paving the way for broader global reach.
I think what we’re really really excited about aren’t just the English language markets. I actually don’t think those are great construction markets. I’m very interested in the Middle East and Asia and parts of the non-English emerging markets in Europe. That’s really where we’re moving forward strongly on. That’s coming in 2024.
CEO and co-founder Bassem Hamdy in an interview with TechCrunch
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