THIRD

About THIRD

THIRD Inc. is a Japanese technology firm specializing in artificial intelligence solutions for the real estate and construction sectors. Founded in October 2015, the company initially focused on construction management and technical consulting. It has since evolved, leveraging the expertise of AI engineers, former site managers, and management consultants to develop its core products.

The current CEO, Atsushi Inoue, joined in the summer of 2017 and led the company's shift towards a SaaS-centric business model. Inoue's background spans IT engineering at Oracle Japan, derivatives design at a foreign investment bank, and leading a real estate consulting team at a business revitalization firm. This diverse experience in IT, finance, and real estate consulting informed the company's strategic direction.

THIRD develops and provides two main AI-SaaS products: "Kanri Roid" and "Koji Roid". "Kanri Roid" is a cloud system for building management that streamlines operations by digitizing tasks like inspections and reporting, and features an AI-powered meter reading system. It aims to reduce manual work and improve operational efficiency, reportedly cutting work time by up to 66%. "Koji Roid" is a system designed to optimize construction costs by using AI to assess the appropriate price for repair work, addressing the issue of price opacity in construction estimates. It leverages a database of 830,000 price points to provide automated assessments, reducing costs by an average of 20%.

The company operates on a business model that combines SaaS subscriptions with AI-driven consulting and custom development for major developers and general contractors. It has amassed a significant amount of data, including approximately 300 million building deterioration diagnostic data points and ¥50 billion in annual construction data, which powers its AI models. Having served over 2,500 companies, THIRD has established a strong position in the Japanese market.

The company has secured significant funding, including a Series B round of 2.6 billion JPY in August 2022, bringing its total raised capital to 3.07 billion JPY. Key investors include JAFCO Group, Spiral Capital, and SBI Investment.