Diligence memo · auto-generated · as of July 2, 2026

Andover National Corp

Andover National Corp looks over-valued against its niche peers and is dormant on financing cadence.

DeprioritizeFinancing has gone silent well past the sector's normal cadence — treat as inactive until outside confirmation of a live operation.

Businessfiled

Andover National Corp operates in Other, based in MIAMI.

Sector still resolves to a broad 'Other' bucket, so operating comparables below are weaker than for a tightly-classified peer.

No verified homepage on file yet — operating evidence is limited to the public record.

Capital & rounds (filed)filed

Andover National Corp has raised $19M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).

Largest single filing: $9.4M on 2019-12-11.

Most recent recorded round closed around 2019-12-11.

Valuation (modeled)modeled

Provath models Andover National Corp at approximately $142M (range $13M–$775M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.

Read: Over-valued. Modeled value is 1.76× the median modeled value of Series A Other companies in 2019–2021 (858 peers) — value vs value, same stage and era.

Financing rhythm & timingmixed

Historic cadence: a new round about every 10 months.

Last raise 6.6 yr ago; this sector typically re-raises about every 11 months.

Silent for over 3× the sector's normal cadence.

The last round stepped up 4.7× from the prior — scaling.

Comparablesmixed

Capital scale ranks ahead of 85% of Other peers (25015 compared).

Modeled value ranks above 86% of those peers.

Closest niche peers: No More Landfills Investment Group, LLC, 3901 Campbellton Rd., LLC, medpai group, WestCap Bolt, LLC, HBC Management Class B L.P..

Peoplefiled

8 named people on file across officers, directors and signatories.

Risks & flagsmixed

Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.

Modeled above niche peers — valuation risk on entry.

Broad sector classification weakens peer comparison.

No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.