Companies · Other Health Care

Alphatec Holdings, Inc.

Carlsbad · Other Health Care

Diligence memoA one-page analyst read on Alphatec Holdings, Inc. — recommendation, valuation, rhythm, risks.
$133.7M
Total raised · real
6
Rounds
0.5×
Latest step-up
Top 4%
Sector rank · raised
Series C
Latest stage · inferred · Fri Dec 18 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Alphatec Holdings, Inc. looks under-valued 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 health care 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 0.53× the median modeled value of Series C Other Health Care companies in 2019–2021 (46 peers) — value vs value, same stage and era.
Dormant
  • Last raise 5.5 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Alphatec Holdings, Inc. behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
17.1 yr record
Peak capital year was 2018 with $61.9M across 1 filings.
Market position
ahead of 97% of Other Health Care peers
Capital scale is ahead of 97% of Other Health Care peers; modeled value is above 94% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2018: $61.9M across 1 filings.
  • Largest single filing was $61.9M on 2018-03-08.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
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 Health Care

Alphatec Holdings, Inc. is one of 5377 Other Health Care companies tracked from Carlsbad. By capital raised it ranks among the largest (ahead of 97% of sector peers), and among the largest 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
6
Investors (latest)
2020-12-18
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$2.0BSeries A · 2009-06-04 Raised $10M (real) Modeled valuation $202M (est)$10M$202MSeries A2009Series A · 2012-11-06 Raised $8.9M (real) Modeled valuation $181M (est)$8.9M$181MSeries A2012Series B · 2017-03-29 Raised $19M (real) Modeled valuation $418M (est)$19M$418MSeries B2017Series B · 2017-07-01 Raised $4.0M (real) Modeled valuation $89M (est)$4.0M$89MSeries B2017Series C · 2018-03-08 Raised $62M (real) Modeled valuation $1.4B (est)$62M$1.4BSeries C2018Series C · 2020-12-18 Raised $30M (real) Modeled valuation $609M (est)$30M$609MSeries C2020+$8.9M+$19M+$4.0M+$62M+$30MCumulative $134M

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
Series A$10.0M · 2009
Series A extension$8.9M · 2012
Series B$18.9M · 2017
Series B extension$4.0M · 2017
Series C$61.9M · 2018
Series C extension$30.0M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — 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
$608.7M
Base estimate est.
$109.0M
Conservative case
$1.5B
Upside case
$200.0M
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 health care sector profile. Directional, not a quoted figure.

Series A · modeled $201.8M · 2009-06-042009Series A · modeled $180.6M · 2012-11-06Series B · modeled $417.9M · 2017-03-29Series B · modeled $88.6M · 2017-07-01Series C · modeled $1.4B · 2018-03-08Series C · modeled $608.7M · 2020-12-182020
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
73%
Survival probability
55% low · 85% high
1.29×/yr
Annual markup
1.48×/yr upside case
5.5 yr
Elapsed time used
5.5 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
28 mo
Avg between rounds
$11.6M/yr
Capital velocity
17.1 yr
On record since
2009
First round
6
Rounds on file
How it compares to the market

Benchmarked against 5377 companies in Other Health Care. 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) 55× above median
This company$133.7M
Sector median$2.4M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.7× of median
This company$30.0M
Sector median$45.9M
Modeled value — vs sector median (estimate, all stages) 28× above median
This company$608.7M
Sector median$22.1M

Raised more than 97% of sector peers (real $). Modeled value above 94% 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 #41 of 46.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Avail Medsystems, Inc. · Series C Raised $126.7M · modeled $2.2B (est)Whoop, Inc. · Series C Raised $180.4M · modeled $2.1B (est)HRGi Holdings, Inc. · Series C Raised $91.2M · modeled $2.1B (est)Ambulnz, Inc. · Series C Raised $90.0M · modeled $2.1B (est)MedAvail, Inc. · Series C Raised $97.0M · modeled $2.0B (est)SOC Telemed, Inc. · Series C Raised $103.0M · modeled $1.9B (est)Eargo, Inc. · Series C Raised $187.4M · modeled $1.9B (est)Truth Holdings, L.P. · Series C Raised $88.8M · modeled $1.6B (est)NeuroPace Inc · Series C Raised $208.6M · modeled $1.5B (est)DermTech, Inc. · Series C Raised $98.9M · modeled $1.5B (est)Mydna, Inc · Series C Raised $72.1M · modeled $1.4B (est)Ancora Heart, Inc. · Series C Raised $151.3M · modeled $1.4B (est)Alphatec Holdings, Inc. (this company) Raised $133.7M · modeled $608.7M (est)Alphatec Holdings, Inc.
CompanyStageRaised · realValue · estvs peer med.
Avail Medsystems, Inc.Series C$126.7M$2.2B1.87×
Whoop, Inc.Series C$180.4M$2.1B1.81×
HRGi Holdings, Inc.Series C$91.2M$2.1B1.81×
Ambulnz, Inc.Series C$90.0M$2.1B1.79×
MedAvail, Inc.Series C$97.0M$2.0B1.75×
SOC Telemed, Inc.Series C$103.0M$1.9B1.65×
Eargo, Inc.Series C$187.4M$1.9B1.61×
Truth Holdings, L.P.Series C$88.8M$1.6B1.43×
NeuroPace IncSeries C$208.6M$1.5B1.33×
DermTech, Inc.Series C$98.9M$1.5B1.29×
Mydna, IncSeries C$72.1M$1.4B1.26×
Ancora Heart, Inc.Series C$151.3M$1.4B1.24×
Alphatec Holdings, Inc. this companySeries C$133.7M$608.7M0.53×
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.
Series A$10.0M2009-06-04$45.5M$201.8M85%
Series A$8.9M2012-11-06$40.7M$180.6M85%
Series B$18.9M2017-03-29$104.8M$417.9M90%
Series B$4.0M2017-07-01$22.2M$88.6M90%
Series C$61.9M2018-03-08$412.9M$1.4B90%
Series C$30.0M2020-12-18$200.0M$608.7M90%
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. Series A$10.0M2009-06-04
    • First recorded raise — entered as Series A.
    • 1 investor on this round.
  2. Series A$8.9M2012-11-06
    • Raised again after 41 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  3. Series B$18.9M2017-03-29
    • Raised again after 53 mo — slower than the ~14 mo sector norm.
    • Round 2.1× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 38 investors on this round.
  4. Series B$4.0M2017-07-01
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 4.7× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  5. Series C$61.9M2018-03-08
    • Raised 8 mo later, in step with the ~14 mo sector norm.
    • Round 15.5× larger than the prior — scaling up.
    • 55 investors on this round.
  6. Series C$30.0M2020-12-18
    • Raised again after 33 mo — slower than the ~14 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
    • 6 investors on this round.
Intelligence
2023 ~Q2
Modeled next raise · ~28mo cadence
$30.0M
Modeled next size est.range $30.0M$48.0M
0.5×
Last step-up
$11.6M/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
John Foster9 other2009-06
James L.L. Tullis5 other2020-12
Donald Williams3 other2017-07
John H. Foster3 other2012-11
David H. Mowry2 other2018-03
Jeffrey G. Black2 other2020-12
Leslie Cross2 other2017-03
Michael Plunkett2 other2017-03
Brian Snider1 other2017-03
David A. Williams1 other2018-03
David Mowry1 other2017-03
Donald A. Williams1 other2020-12
Jeff Black1 other2017-03
Jeffrey Rydin1 other2017-07
Patrick S. Miles1 other2018-03
Peter Wulff1 other2009-06
Quentin Blackford1 other2017-07
Siri S. Marshall1 other2012-11
Terry M. Rich1 other2018-03
William Patrick Ryan1 other2012-11
Brian R. Snider2020-12
Brian W. Snider2018-03
Craig E. Hunsaker2020-12
Craig Hunsaker2017-03
Registry & provenance

Alphatec Holdings, 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
1350653
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.

CompanySectorStageRaised · realValue · estWhy similar
BioHorizons, Inc.Other Health CareSeries C$64.1M$34.3Mnetwork2 shared operators · same sector · same stage
Prosomnus Holdings Inc.Other Health CareSeries A$20.7M$70.6Mnetwork3 shared operators · same sector
electroCore, Inc.Other Health CareSeries C$87.3M$11.0Mnetwork1 shared operator · same sector · same stage
CRES Holdings, Inc.Other Health CareSeries C$61.1M$67.0Mnetwork1 shared operator · same sector · same stage
CurvaFix, Inc.Other Health CareSeries C$50.7M$478.1Mnetwork1 shared operator · same sector · same stage
SpyGlassPharma, Inc.Other Health CareSeries C$134.8M$485.1Msame sector · same stage
Veran Medical Technologies, Inc.Other Health CareSeries C$130.9M$953.8Msame sector · same stage
BioIntelliSense, Inc.Other Health CareSeries C$140.0M$329.0Msame sector · same stage
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
MedTrust Holdings, Inc.Other Health CareSeed$23.9M86%
GreenTec Holdings Ltd.Other Health CarePre-Seed$4.2M86%
AlphaHealth IncOther TechnologyPre-Seed$2.7M84%
AR CPT Holdings Inc.Other Health CareSeries B$105.9M83%
Apollo Med Innovations, Inc.Other Health CarePre-Seed$2.6M83%
Labconnect Holdings, Inc.Other Health CareSeries B$739.0M83%
OS1 Holdings, Inc.Other Health CareSeed$1.2M83%
AVG Holdings, Inc.Other Health CareSeries A$282.5M83%
Frequently asked
How much funding has Alphatec Holdings, Inc. raised?
Alphatec Holdings, Inc. has raised approximately $133.7M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Alphatec Holdings, Inc.'s estimated valuation?
Provath's modeled valuation for Alphatec Holdings, Inc. is approximately $608.7M (modeled range $109.0M–$1.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Alphatec Holdings, Inc. at?
Alphatec Holdings, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Dec 18.
What does Alphatec Holdings, Inc. do and where is it based?
Alphatec Holdings, Inc. operates in the Other Health Care sector, based in Carlsbad.
Explore related

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

Is this your company?

If you work at Alphatec Holdings, Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.