Companies · Other Technology

Barcodes Holdings, LP

Chicago · Other Technology

Diligence memoA one-page analyst read on Barcodes Holdings, LP — recommendation, valuation, rhythm, risks.
$228.6M
Total raised · real
3
Rounds
12.3×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Thu Aug 15 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Barcodes Holdings, LP 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 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 0.03× the median modeled value of Series D+ Other Technology companies in 2019–2021 (105 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.9 yr ago; this sector typically re-raises about every 13 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

Barcodes Holdings, LP 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
7.5 yr record
Peak capital year was 2018 with $224.6M across 1 filings.
Market position
ahead of 99% of Other Technology peers
Capital scale is ahead of 99% of Other Technology peers; modeled value is above 74% 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: $224.6M across 1 filings.
  • Largest single filing was $224.6M on 2018-12-21.
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 Technology

Barcodes Holdings, LP is one of 21292 Other Technology companies tracked from Chicago. By capital raised it ranks among the largest (ahead of 99% 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
3
Investors (latest)
2018
Year incorporated
2019-08-15
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$2.5B$5.0B$7.5B$10.0BSeries D+ · 2018-12-21 Raised $225M (real) Modeled valuation $7.1B (est)$225M$7.1BSeries D+2018Series D+ · 2019-08-15 Raised $300K (real) Modeled valuation $9.5M (est)$300K$9.5MSeries D+2019Series D+ · 2019-08-15 Raised $3.7M (real) Modeled valuation $117M (est)$3.7M$117MSeries D+2019+$300K+$3.7MCumulative $229M

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 D+$224.6M · 2018
Series D+ extension$300K · 2019
Series D+ extension$3.7M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$117.0M
Base estimate est.
$20.5M
Conservative case
$256.4M
Upside case
$30.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series D+ · modeled $7.1B · 2018-12-212018Series D+ · modeled $9.5M · 2019-08-15Series D+ · modeled $117.0M · 2019-08-152019
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.29×/yr
Annual markup
1.44×/yr upside case
6.0 yr
Elapsed time used
6.9 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
4 mo
Avg between rounds
$352.3M/yr
Capital velocity
7.5 yr
On record since
2018
First round
3
Rounds on file
How it compares to the market

Benchmarked against 21292 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) 72× above median
This company$228.6M
Sector median$3.2M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.0× of median
This company$3.7M
Sector median$115.0M
Modeled value — vs sector median (estimate, all stages) 3.1× above median
This company$117.0M
Sector median$37.3M

Raised more than 99% of sector peers (real $). Modeled value above 74% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #103 of 105.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Dataminr, Inc. · Series D+ Raised $911.6M · modeled $10.4B (est)2U, Inc. · Series D+ Raised $410.2M · modeled $10.2B (est)KnowBe4, Inc. · Series D+ Raised $384.2M · modeled $9.8B (est)Automation Anywhere, Inc. · Series D+ Raised $290.0M · modeled $9.2B (est)Courier Plus, Inc. · Series D+ Raised $323.7M · modeled $8.6B (est)Microsoft Corp · Series D+ Raised $270.3M · modeled $8.5B (est)FCID Holdings, Inc. · Series D+ Raised $289.1M · modeled $8.2B (est)RigUp, Inc. · Series D+ Raised $771.7M · modeled $8.0B (est)Freshworks Inc. · Series D+ Raised $439.6M · modeled $7.9B (est)Turo Inc. · Series D+ Raised $446.8M · modeled $7.9B (est)Unqork Inc. · Series D+ Raised $364.2M · modeled $7.7B (est)Automattic Inc. · Series D+ Raised $815.7M · modeled $7.5B (est)Barcodes Holdings, LP (this company) Raised $228.6M · modeled $117.0M (est)Barcodes Holdings, LP
CompanyStageRaised · realValue · estvs peer med.
Dataminr, Inc.Series D+$911.6M$10.4B2.78×
2U, Inc.Series D+$410.2M$10.2B2.73×
KnowBe4, Inc.Series D+$384.2M$9.8B2.61×
Automation Anywhere, Inc.Series D+$290.0M$9.2B2.44×
Courier Plus, Inc.Series D+$323.7M$8.6B2.28×
Microsoft CorpSeries D+$270.3M$8.5B2.26×
FCID Holdings, Inc.Series D+$289.1M$8.2B2.18×
RigUp, Inc.Series D+$771.7M$8.0B2.14×
Freshworks Inc.Series D+$439.6M$7.9B2.11×
Turo Inc.Series D+$446.8M$7.9B2.11×
Unqork Inc.Series D+$364.2M$7.7B2.06×
Automattic Inc.Series D+$815.7M$7.5B1.99×
Barcodes Holdings, LP this companySeries D+$228.6M$117.0M0.03×
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 D+$224.6M2018-12-21$1.9B$7.1B90%
Series D+$300K2019-08-15$2.5M$9.5M90%
Series D+$3.7M2019-08-15$30.8M$117.0M90%
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 D+$224.6M2018-12-21
    • First recorded raise — entered as Series D+.
    • 11 investors on this round.
  2. Series D+$300K2019-08-15
    • Came back fast: 8 mo vs the ~13 mo sector norm.
    • Round 748.6× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Series D+$3.7M2019-08-15
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 12.3× larger than the prior — scaling up.
    • 3 investors on this round.
Intelligence
2019 ~Q4
Modeled next raise · ~4mo cadence
$11.1M
Modeled next size est.range $7.2M$17.8M
12.3×
Last step-up
$352.3M/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
Brian Kwait5 other2018-12
Mark Fisher2 other2018-12
Andrew Learned1 other2018-12
Craig Staub1 other2018-12
Daniel Nettesheim1 other2018-12
Jonathan Hall1 other2018-12
Registry & provenance

Barcodes Holdings, LP 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
1762989
SEC CIK
2018
Incorporated
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
Barcodes Acquisition Inc.Other TechnologySeries D+$226.3M$7.2Bnetwork2 shared operators · same sector · same stage
Scale Computing Holdings, LLCOther TechnologySeries D+$247.6M$112.4Msame sector · same stage
Domo, Inc.Other TechnologySeries D+$350.8M$113.9Msame sector · same stage
Solfacil International LtdOther TechnologySeries D+$111.6M$119.7Msame sector · same stage
Glove Holdings IncManufacturingSeries D+$106.8M$4.1Mnetwork1 shared operator · same stage
Pexco LlcManufacturingSeries B$36.5M$400.2Mnetwork2 shared operators
Gfinity plcOther TechnologySeed$1.9M$64.9Mnetwork1 shared operator · same sector
WorkFusion, Inc.Other TechnologySeries C$182.8M$117.9Msame sector
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
Barcodes Acquisition Inc.Other TechnologySeries D+$7.2B93%
Barbari Capital Group LLCOther TechnologyPre-Seed$390K86%
Barpay, LLCOther TechnologyPre-Seed$24.5M84%
Barwis Enterprises, Inc.Other TechnologySeed$45.7M83%
Barzo, Inc.Other TechnologyPre-Seed$1.8M82%
BaroPace, Inc.Other TechnologyPre-Seed$1.6M82%
Drink Barcode, Inc.OtherSeries A$35.7M82%
MortgageTech Holdings, LLCOther TechnologySeries A$219.3M81%
Frequently asked
How much funding has Barcodes Holdings, LP raised?
Barcodes Holdings, LP has raised approximately $228.6M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Barcodes Holdings, LP's estimated valuation?
Provath's modeled valuation for Barcodes Holdings, LP is approximately $117.0M (modeled range $20.5M–$256.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Barcodes Holdings, LP at?
Barcodes Holdings, LP's latest modeled financing stage is Series D+. Its most recent recorded round closed around Thu Aug 15.
What does Barcodes Holdings, LP do and where is it based?
Barcodes Holdings, LP operates in the Other Technology sector, based in Chicago.
Explore related

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

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