Diligence memo · auto-generated · as of July 2, 2026
Appia Inc.
Appia Inc. looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Appia Inc. operates in Telecommunications, based in DURHAM.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Appia Inc. has raised $54M in disclosed capital across 7 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $15M on 2010-06-09.
Most recent recorded round closed around 2013-04-04.
Valuation (modeled)modeled
Provath models Appia Inc. at approximately $140M (range $11M–$762M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.52× the median modeled value of Series A Telecommunications companies in 2013–2015 (41 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 6 months.
Last raise 13.2 yr ago; this sector typically re-raises about every 10 months.
Silent for over 3× the sector's normal cadence.
The last round was 1.6× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 88% of Telecommunications peers (929 compared).
Modeled value ranks above 78% of those peers.
Closest niche peers: Texas Energy Network, LLC, Novatel Wireless Inc, USConnect Holdings, Inc., Insite Wireless Group, LLC, Fiberzone Networks Inc.
Peoplefiled
13 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.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.