Companies · Other Technology

Alpha Source, Inc.

VALENCIA · Other Technology

Diligence memoA one-page analyst read on Alpha Source, Inc. — recommendation, valuation, rhythm, risks.
$102.7M
Total raised · real
5
Rounds
0.2×
Latest step-up
Top 4%
Sector rank · raised
Series C
Latest stage · inferred · Tue Nov 01 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Alpha Source, Inc. looks under-valued against its niche peers and is at-risk 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.

Under-valued
  • Modeled value is 0.23× the median modeled value of Series C Other Technology companies in 2022–2024 (187 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.7 yr ago; this sector typically re-raises about every 13 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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 Other Technology

Alpha Source, Inc. is one of 21302 Other Technology companies tracked from VALENCIA. By capital raised it ranks among the largest (ahead of 97% 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
Rule 506(b)
Reg D exemption
1
Investors (latest)
2022-11-01
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$500M$1.0B$1.5B$2.0BSeed · 2017-10-23 Raised $2.4M (real) Modeled valuation $81M (est)$2.4M$81MSeed2017Pre-Seed · 2017-10-23 Raised $800K (real) Modeled valuation $34M (est)$800K$34MPre-Seed2017Series C · 2018-10-09 Raised $41M (real) Modeled valuation $1.3B (est)$41M$1.3BSeries C2018Series C · 2021-09-10 Raised $48M (real) Modeled valuation $1.1B (est)$48M$1.1BSeries C2021Series C · 2022-11-01 Raised $10M (real) Modeled valuation $155M (est)$10M$155MSeries C2022+$800K+$41M+$48M+$10MCumulative $103M

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$2.4M · 2017
Bridge · Seed-stage$800K · 2017smaller follow-on
Series C$41.5M · 2018no Series A / Series B on file
Series C extension$48.0M · 2021
Series C extension$10.0M · 2022

Stages are modeled from round size (public records carry no series label). No record for: Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$154.9M
Base estimate est.
$37.9M
Conservative case
$296.0M
Upside case
$66.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $81.3M · 2017-10-232017Pre-Seed · modeled $33.9M · 2017-10-23Series C · modeled $1.3B · 2018-10-09Series C · modeled $1.1B · 2021-09-10Series C · modeled $154.9M · 2022-11-012022
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
76%
Survival probability
57% low · 88% high
1.35×/yr
Annual markup
1.55×/yr upside case
3.7 yr
Elapsed time used
3.7 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
15 mo
Avg between rounds
$20.4M/yr
Capital velocity
8.7 yr
On record since
2017
First round
5
Rounds on file
How it compares to the market

Benchmarked against 21302 companies in Other Technology. 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) 32× above median
This company$102.7M
Sector median$3.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.2× of median
This company$10.0M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 4.2× above median
This company$154.9M
Sector median$37.3M

Raised more than 97% 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 C) 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 #166 of 187.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)LinkSquares, Inc. · Series C Raised $160.2M · modeled $1.9B (est)Semperis Ltd. · Series C Raised $130.0M · modeled $1.8B (est)Veev Group, Inc. · Series C Raised $94.5M · modeled $1.8B (est)GPI Acquisitions, Inc. · Series C Raised $175.0M · modeled $1.7B (est)DVX Ventures LLC · Series C Raised $119.8M · modeled $1.5B (est)Ncr Corp · Series C Raised $73.7M · modeled $1.5B (est)RelationalAI, Inc. · Series C Raised $74.0M · modeled $1.4B (est)Nantero Inc · Series C Raised $172.9M · modeled $1.4B (est)MoEngage, Inc. · Series C Raised $172.2M · modeled $1.4B (est)H2scan Corp · Series C Raised $83.2M · modeled $1.4B (est)ITsavvy Holdings, LLC · Series C Raised $81.4M · modeled $1.4B (est)Coherent Group Inc. · Series C Raised $74.0M · modeled $1.3B (est)Alpha Source, Inc. (this company) Raised $102.7M · modeled $154.9M (est)Alpha Source, Inc.
CompanyStageRaised · realValue · estvs peer med.
LinkSquares, Inc.Series C$160.2M$1.9B2.80×
Semperis Ltd.Series C$130.0M$1.8B2.74×
Veev Group, Inc.Series C$94.5M$1.8B2.71×
GPI Acquisitions, Inc.Series C$175.0M$1.7B2.47×
DVX Ventures LLCSeries C$119.8M$1.5B2.27×
Ncr CorpSeries C$73.7M$1.5B2.19×
RelationalAI, Inc.Series C$74.0M$1.4B2.07×
Nantero IncSeries C$172.9M$1.4B2.06×
MoEngage, Inc.Series C$172.2M$1.4B2.05×
H2scan CorpSeries C$83.2M$1.4B2.03×
ITsavvy Holdings, LLCSeries C$81.4M$1.4B2.03×
Coherent Group Inc.Series C$74.0M$1.3B2.02×
Alpha Source, Inc. this companySeries C$102.7M$154.9M0.23×
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$2.4M2017-10-23$11.9M$81.3M90%
Pre-Seed$800K2017-10-23$4.4M$33.9M90%
Series C$41.5M2018-10-09$276.4M$1.3B90%
Series C$48.0M2021-09-10$320.0M$1.1B90%
Series C$10.0M2022-11-01$66.7M$154.9M90%
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$2.4M2017-10-23
    • First recorded raise — entered as Seed.
    • 66 investors on this round.
  2. Pre-Seed$800K2017-10-23
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Series C$41.5M2018-10-09
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 51.8× larger than the prior — scaling up.
    • 11 investors on this round.
  4. Series C$48.0M2021-09-10
    • Raised again after 35 mo — slower than the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 19 investors on this round.
  5. Series C$10.0M2022-11-01
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 4.8× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2024 ~Q1
Modeled next raise · ~15mo cadence
$10.0M
Modeled next size est.range $10.0M$16.0M
0.2×
Last step-up
$20.4M/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
ANDREW HARRISON3 other2017-10
Michael Pellini3 other2022-11
Mike Pellini2 other2018-10
Andrew Conrad1 other2022-11
R. Brian McKernan1 other2021-09
Aaron Gerzewski2022-11
ANDREW BRIAN CONRAD2021-09
ANDREW BRIAN HARRISON2021-09
D. Scott Holbrook2022-11
Glenn Rosenthal2017-10
Howard Lewin2017-10
MICHAEL BRIAN PELLINI2021-09
Registry & provenance

Alpha Source, Inc. 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
1721322
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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Tomo Networks, Inc.Other TechnologySeries C$130.7M$157.5Msame sector · same stage
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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
Alphaics CorpOther TechnologySeed$81.3M90%
AlphaLitigation Inc.Other TechnologySeed$24.6M90%
Alphacruncher IncOther TechnologySeed$5.3M90%
Alpha Vertex, Inc.Other TechnologyPre-Seed$8.5M90%
Alpha Infrastructure Partners, LlcOther TechnologyPre-Seed$4.2M90%
AlphaOne Operations, LLCOther TechnologySeed$7.5M89%
Alphathena Inc.Other TechnologySeed$26.0M89%
Alpha UX, Inc.Other TechnologySeries A$139.5M89%
Frequently asked
How much funding has Alpha Source, Inc. raised?
Alpha Source, Inc. has raised approximately $102.7M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Alpha Source, Inc.'s estimated valuation?
Provath's modeled valuation for Alpha Source, Inc. is approximately $154.9M (modeled range $37.9M–$296.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Alpha Source, Inc. at?
Alpha Source, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Nov 01.
What does Alpha Source, Inc. do and where is it based?
Alpha Source, Inc. operates in the Other Technology sector, based in VALENCIA.
Explore related

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

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