Companies · Software / Tech

Aehr Test Systems

FREMONT · Software / Tech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Aehr Test Systems — recommendation, valuation, rhythm, risks.
$15.7M
Total raised · real
4
Rounds
1.4×
Latest step-up
Top 26%
Sector rank · raised
Series A
Latest stage · inferred · Wed Sep 28 2016 00:00:00 GMT+0000 (Coordinated Universal Time)

Aehr Test Systems looks fair against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.97× the median modeled value of Series A Software / Tech companies in 2016–2018 (145 peers) — value vs value, same stage and era.
  • Within the normal band (97% of peer median) for its niche.
Dormant
  • Last raise 9.8 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Software / Tech

Aehr Test Systems is one of 3920 Software / Tech companies tracked from FREMONT. By capital raised it ranks in the upper tier (ahead of 75% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
$5M–$25M
Issuer revenue
Rule 506(b)
Reg D exemption
10
Investors (latest)
2016-09-28
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MSeed · 2013-03-15 Raised $1.2M (real) Modeled valuation $39M (est)$1.2M$39MSeed2013Seed · 2014-11-26 Raised $2.6M (real) Modeled valuation $88M (est)$2.6M$88MSeed2014Series A · 2015-04-10 Raised $6.1M (real) Modeled valuation $169M (est)$6.1M$169MSeries A2015Series A · 2015-04-10 Raised $4.1M (real) Modeled valuation $114M (est)$4.1M$114MSeries A2015Series A · 2016-09-28 Raised $5.9M (real) Modeled valuation $162M (est)$5.9M$162MSeries A2016+$2.6M+$6.1M+$4.1M+$5.9MCumulative $20M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$1.2M · 2013
Seed extension$2.6M · 2014
Series A$6.1M · 2015
Series A extension$4.1M · 2015
Series A extension$5.9M · 2016

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$162.3M
Base estimate est.
$7.8M
Conservative case
$882.6M
Upside case
$26.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $39.5M · 2013-03-152013Seed · modeled $88.2M · 2014-11-26Series A · modeled $169.5M · 2015-04-10Series A · modeled $114.0M · 2015-04-10Series A · modeled $162.3M · 2016-09-282016
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
29% low · 74% high
1.50×/yr
Annual markup
1.89×/yr upside case
6.0 yr
Elapsed time used
9.8 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$4.4M/yr
Capital velocity
13.3 yr
On record since
2013
First round
5
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 3.4× above median
This company$15.7M
Sector median$4.6M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.0× above median
This company$5.9M
Sector median$5.6M
Modeled value — vs sector median (estimate, all stages) 4.4× above median
This company$162.3M
Sector median$36.6M

Raised more than 75% of sector peers (real $). Modeled value above 80% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #79 of 145.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0MCapital raised (log)Akoustis Technologies, Inc. · Series A Raised $55.1M · modeled $416.1M (est)O(1) Labs, LLC · Series A Raised $15.0M · modeled $416.1M (est)Canvas Technology, Inc. · Series A Raised $15.0M · modeled $416.1M (est)Radiance Technologies, Inc. · Series A Raised $14.7M · modeled $407.6M (est)Imagen Technologies, Inc. · Series A Raised $19.3M · modeled $397.3M (est)Orchestra Software, Inc. · Series A Raised $14.0M · modeled $389.5M (est)SportsMEDIA Technology Corp · Series A Raised $26.3M · modeled $384.1M (est)Eden Technologies Inc. · Series A Raised $14.5M · modeled $369.3M (est)Dharma Platform, Inc. · Series A Raised $13.0M · modeled $361.4M (est)Quotient Technology Inc. · Series A Raised $14.0M · modeled $360.6M (est)Emogi Technologies, Inc. · Series A Raised $15.3M · modeled $354.5M (est)Breathe Technologies Inc · Series A Raised $20.0M · modeled $353.7M (est)Aehr Test Systems (this company) Raised $15.7M · modeled $162.3M (est)Aehr Test Systems
CompanyStageRaised · realValue · estvs peer med.
Akoustis Technologies, Inc.Series A$55.1M$416.1M2.49×
O(1) Labs, LLCSeries A$15.0M$416.1M2.49×
Canvas Technology, Inc.Series A$15.0M$416.1M2.49×
Radiance Technologies, Inc.Series A$14.7M$407.6M2.44×
Imagen Technologies, Inc.Series A$19.3M$397.3M2.38×
Orchestra Software, Inc.Series A$14.0M$389.5M2.33×
SportsMEDIA Technology CorpSeries A$26.3M$384.1M2.30×
Eden Technologies Inc.Series A$14.5M$369.3M2.21×
Dharma Platform, Inc.Series A$13.0M$361.4M2.16×
Quotient Technology Inc.Series A$14.0M$360.6M2.16×
Emogi Technologies, Inc.Series A$15.3M$354.5M2.12×
Breathe Technologies IncSeries A$20.0M$353.7M2.12×
Aehr Test Systems this companySeries A$15.7M$162.3M0.97×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$1.2M2013-03-15$5.8M$39.5M85%
Seed$2.6M2014-11-26$12.9M$88.2M85%
Series A$6.1M2015-04-10$27.8M$169.5M85%
Series A$4.1M2015-04-10$18.7M$114.0M85%
Series A$5.9M2016-09-28$26.6M$162.3M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$1.2M2013-03-15
    • First recorded raise — entered as Seed.
    • 15 investors on this round.
  2. Seed$2.6M2014-11-26
    • Raised again after 20 mo — slower than the ~13 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 14 investors on this round.
  3. Series A$6.1M2015-04-10
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round 2.4× larger than the prior — scaling up.
    • 2 investors on this round.
  4. Series A$4.1M2015-04-10
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  5. Series A$5.9M2016-09-28
    • Raised 18 mo later, in step with the ~13 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 10 investors on this round.
Intelligence
2017 ~Q3
Modeled next raise · ~11mo cadence
$8.3M
Modeled next size est.range $5.9M$13.3M
1.4×
Last step-up
$4.4M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Robert Anderson23 other2013-03
John Schneider2 other2016-09
Mario Rosati2 other2016-09
Larry Anderson1 other2013-03
Mukesh Patel1 other2013-03
William W.R. Elder1 other2014-11
Carl Buck2013-03
David Fucci2016-09
David Hendrickson2013-03
David L. Fucci2014-11
Gary Larson2013-03
Gayn Erickson2013-03
Howard Slayen2013-03
John W. R. Schneider2014-11
Ken Spink2015-04
Kunio L. Sano2014-11
Kunio Sano2016-09
Mario W. R. Rosati2014-11
Mark Allison2014-11
Rhea Posedel2013-03
William Elder2016-09
Registry & provenance

Aehr Test Systems is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1040470
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Aeolus Labs, Inc.Software / TechSeries B$86.2M82%
Aleph Labs, Inc.Software / TechSeries B$143.6M80%
AEC Systems LtdSoftware / TechSeed$40.7M80%
Aereus Technologies Inc.Software / TechSeed$127.7M80%
Aesir Technologies, Inc.Software / TechSeries A$999K80%
EHP Technologies AGSoftware / TechSeries B$337.2M80%
Hadron LabsSoftware / TechSeries A$33.9M80%
Testsigma Technologies, Inc.Software / TechPre-Seed$25.4M80%
Frequently asked
How much funding has Aehr Test Systems raised?
Aehr Test Systems has raised approximately $15.7M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Aehr Test Systems's estimated valuation?
Provath's modeled valuation for Aehr Test Systems is approximately $162.3M (modeled range $7.8M–$882.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Aehr Test Systems at?
Aehr Test Systems's latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Sep 28.
What does Aehr Test Systems do and where is it based?
Aehr Test Systems operates in the Software / Tech sector, based in FREMONT.
Explore related

See where Aehr Test Systems sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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