Companies · Business Services

Bdo Usa, P.A.

CHICAGO · Business Services · https://www.bdo.com/locations/bdo-chicago-office

Diligence memoA one-page analyst read on Bdo Usa, P.A. — recommendation, valuation, rhythm, risks.
$748.3M
Total raised · real
1
Rounds
Latest step-up
Top 2%
Sector rank · raised
Growth/Late
Latest stage · inferred · Thu Aug 31 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Bdo Usa, P.A. looks fair against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the business services sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.75× the median modeled value of Growth/Late Business Services companies in 2022–2024 (5 peers) — value vs value, same stage and era.
  • Within the normal band (75% of peer median) for its niche.
At-risk
  • Last raise 2.8 yr ago; this sector typically re-raises about every 12 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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 Business Services

Bdo Usa, P.A. is one of 2439 Business Services companies tracked from CHICAGO. By capital raised it ranks among the largest (ahead of 99% 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.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

BDO Chicago provides experienced guidance and services to clients within manufacturing, healthcare, and other industries across Illinois. Learn more.

BDO Chicago provides experienced guidance and services to clients within manufacturing, healthcare, and other industries across Illinois. Learn more. Executive summary of findings from the 2026 BDO Tax Strategist Survey. A step-by-step guide for nonprofit leaders. Discover five board practices for stronger M&A outcomes. Healthcare digital transformation webcast series discussing AI, cybersecurity, automation, and more. Learn how automation is transforming government finance. Learn how a national food distributor enabled enterprise-wide AI adoption. Access the eBook to see how integrated ERM streamlines risk and supports goals. See how people-centered AI can improve healthcare outcomes. A practice aid designed to support audit committee chairs. BDO has been awarded a 2026 Bell Seal for Workplace Mental Health. BDO honored for Technology Team of the Year and Women in AI. BDO was named the official partner of Juncos Hollinger Racing and INDY NXT Driver Alexander Koreiba. Home to our national headquarters, as well as two other offices, Chicago is an international hub for finance, generating one of the highest gross domestic products (GDP) in the world, with a diverse economy that suppo

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Find BDO online

Trades publicly as BDO.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
112
Investors (latest)
2023-08-31
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$5.0B$10.0B$15.0B$20.0BGrowth/Late · 2023-08-31 Raised $748M (real) Modeled valuation $10.9B (est)$748M$10.9BGrowth/Late2023

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
Growth/Late$748.3M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C, Series D+ — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 14%.

Modeled valuation trajectory
$10.9B
Base estimate est.
$6.0B
Conservative case
$14.8B
Upside case
$7.5B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the business services sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
92%
Survival probability
80% low · 98% high
1.18×/yr
Annual markup
1.28×/yr upside case
2.8 yr
Elapsed time used
2.8 yr actual, capped for stale marks
business services
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
2.8 yr
On record since
2023
First round
1
Rounds on file
How it compares to the market

Benchmarked against 2439 companies in Business Services. 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) 512× above median
This company$748.3M
Sector median$1.5M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 1.7× above median
This company$748.3M
Sector median$442.3M
Modeled value — vs sector median (estimate, all stages) 723× above median
This company$10.9B
Sector median$15.0M

Raised more than 99% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) 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 #4 of 5.

This companyCohort peer
$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Talen Energy Corp · Growth/Late Raised $1.4B · modeled $21.0B (est)China Zhongting World Cultural Industry Investment Development Co., Ltd · Growth/Late Raised $1.0B · modeled $16.2B (est)ALKU Holdings, LLC · Growth/Late Raised $960.6M · modeled $14.6B (est)Shelby Parent, L.P. · Growth/Late Raised $668.1M · modeled $10.8B (est)Bdo Usa, P.A. (this company) Raised $748.3M · modeled $10.9B (est)Bdo Usa, P.A.
CompanyStageRaised · realValue · estvs peer med.
Talen Energy CorpGrowth/Late$1.4B$21.0B1.44×
China Zhongting World Cultural Industry Investment Development Co., LtdGrowth/Late$1.0B$16.2B1.11×
ALKU Holdings, LLCGrowth/Late$960.6M$14.6B1.00×
Bdo Usa, P.A. this companyGrowth/Late$748.3M$10.9B0.75×
Shelby Parent, L.P.Growth/Late$668.1M$10.8B0.74×
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.
Growth/Late$748.3M2023-08-31$7.5B$10.9B90%
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. Growth/Late$748.3M2023-08-31
    • First recorded raise — entered as Growth/Late.
    • 112 investors on this round.
Intelligence
Modeled next raise
$1.2B
Modeled next size est.range $778.2M$1.9B
Last step-up
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
Kelly Johnson1 other2023-08
Matthew Becker1 other2023-08
Catherine Moy2023-08
Christopher Tower2023-08
Eskander Yavar2023-08
Hoon Lee2023-08
John Marquardt2023-08
Maria Karalis2023-08
Mark Ellenbogen2023-08
Mike Campbell2023-08
Monika Loving2023-08
Natalie Kotlyar2023-08
Stephen Ferrara2023-08
Steven Shill2023-08
Tiffany Prudhomme2023-08
Tony Argiz2023-08
Wayne Berson2023-08
William Eisig2023-08
Registry & provenance

Bdo Usa, P.A. 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
1991618
SEC CIK
Recent activity

Discovered from bdo — the partnerships, launches, hiring and press it publishes about itself. Evidence the company is alive and what it is doing now, not financial data.

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
Sterling Ultimate Parent Corp.Business ServicesGrowth/Late$831.8M$130.3Msame sector · same stage
Shelby Parent, L.P.Business ServicesGrowth/Late$668.1M$10.8Bsame sector · same stage
Edition Holdings, Inc.Business ServicesGrowth/Late$845.7M$17.6Bsame sector · same stage
Custom Truck One Source, Inc.Business ServicesGrowth/Late$883.0M$19.0Bsame sector · same stage
YourPeople, Inc.Business ServicesGrowth/Late$591.2M$12.4Bsame sector · same stage
ACCL Group Holdings, LLCBusiness ServicesGrowth/Late$584.0M$14.2Bsame sector · same stage
ALKU Holdings, LLCBusiness ServicesGrowth/Late$960.6M$14.6Bsame sector · same stage
China Zhongting World Cultural Industry Investment Development Co., LtdBusiness ServicesGrowth/Late$1.0B$16.2Bsame 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
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inFeedo AI
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AI / ML73%
Protex AI
Computer vision that makes the industrial workplace, safer
Mobility / Logistics72%
CombineHealth
Automating Healthcare Revenue Cycle Management with AI Workforce
HR / Worktech72%
Soraban
AI tax workflow platform for accounting firms
Healthtech72%
Seals AI
AI Employees for Wholesalers & Distributors
Fintech71%
Confido Inc.
AI-enabled financial automation and intelligence for CPG Brands
FintechSeries A$13.7M71%
Valgo
Insurance risk layer for physical AI
Insurance71%
Frequently asked
How much funding has Bdo Usa, P.A. raised?
Bdo Usa, P.A. has raised approximately $748.3M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Bdo Usa, P.A.'s estimated valuation?
Provath's modeled valuation for Bdo Usa, P.A. is approximately $10.9B (modeled range $6.0B–$14.8B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Bdo Usa, P.A. at?
Bdo Usa, P.A.'s latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Thu Aug 31.
What does Bdo Usa, P.A. do and where is it based?
Bdo Usa, P.A. operates in the Business Services sector, based in CHICAGO. BDO Chicago provides experienced guidance and services to clients within manufacturing, healthcare, and other industries across Illinois. Learn more.
Explore related

See where Bdo Usa, P.A. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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