Diligence memo · auto-generated · as of July 2, 2026
Athelas Inc.
Athelas Inc. looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Athelas Inc. operates in Healthtech, based in MOUNTAIN VIEW, CA, USA. Extensible, Integrated Technology that Simplifies Health Systems
Sub-sector tags: AI, Health Tech, Healthcare, SaaS, Telehealth, ai/ml, healthtech.
Capital & rounds (filed)filed
Athelas Inc. has raised $54M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $54M on 2022-01-24.
Most recent recorded round closed around 2022-01-24.
Valuation (modeled)modeled
Provath models Athelas Inc. at approximately $903M (range $198M–$1.9B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.86× the median modeled value of Series C Healthtech companies in 2022–2024 (39 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Last raise 4.4 yr ago; this sector typically re-raises about every 14 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 91% of Healthtech peers (2138 compared).
Modeled value ranks above 97% of those peers.
Closest niche peers: Freedom Dental Funding, LLC, Elevate Care International Topco LP, Hazel Health, Inc., Health Gorilla, Inc., Employee Health Holdings, LP.
Peoplefiled
3 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.