Companies · Other Technology

Better Trucks Last Mile, Inc.

HILLSIDE · Other Technology

Diligence memoA one-page analyst read on Better Trucks Last Mile, Inc. — recommendation, valuation, rhythm, risks.
$26.3M
Total raised · real
3
Rounds
0.9×
Latest step-up
Top 14%
Sector rank · raised
Series B
Latest stage · inferred · Fri Dec 22 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Better Trucks Last Mile, Inc. looks under-valued 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 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 0.45× the median modeled value of Series B Other Technology companies in 2022–2024 (514 peers) — value vs value, same stage and era.
At-risk
  • Last raise 2.5 yr ago; this sector typically re-raises about every 13 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 Other Technology

Better Trucks Last Mile, Inc. is one of 21302 Other Technology companies tracked from HILLSIDE. By capital raised it ranks in the upper tier (ahead of 87% 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
9
Investors (latest)
2022
Year incorporated
2023-12-22
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$125M$250M$375M$500MPre-Seed · 2022-02-03 Raised $250K (real) Modeled valuation $4.5M (est)$250K$4.5MPre-Seed2022Series B · 2022-11-01 Raised $15M (real) Modeled valuation $205M (est)$15M$205MSeries B2022Series B · 2023-12-22 Raised $11M (real) Modeled valuation $97M (est)$11M$97MSeries B2023Series A · 2023-12-22 Raised $7.2M (real) Modeled valuation $49M (est)$7.2M$49MSeries A2023Series A · 2023-12-22 Raised $6.5M (real) Modeled valuation $44M (est)$6.5M$44MSeries A2023+$15M+$11M+$7.2M+$6.5MCumulative $40M

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
Pre-Seed$250K · 2022
Series B$15.3M · 2022no Seed / Series A on file
Series B extension$10.8M · 2023
Bridge · Series B-stage$7.2M · 2023smaller follow-on
Bridge · Series B-stage$6.5M · 2023smaller follow-on

Stages are modeled from round size (public records carry no series label). No record for: Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 75%.

Modeled valuation trajectory
$97.0M
Base estimate est.
$26.4M
Conservative case
$192.0M
Upside case
$59.9M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $4.5M · 2022-02-032022Series B · modeled $205.1M · 2022-11-01Series B · modeled $97.0M · 2023-12-22Series A · modeled $48.8M · 2023-12-22Series A · modeled $44.3M · 2023-12-222023
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
67%
Survival probability
44% low · 81% high
1.42×/yr
Annual markup
1.72×/yr upside case
2.5 yr
Elapsed time used
2.5 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
6 mo
Avg between rounds
$14.0M/yr
Capital velocity
4.4 yr
On record since
2022
First round
5
Rounds on file
How it compares to the market

Benchmarked against 21302 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) 8.3× above median
This company$26.3M
Sector median$3.2M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.3× of median
This company$6.5M
Sector median$19.2M
Modeled value — vs sector median (estimate, all stages) 2.6× above median
This company$97.0M
Sector median$37.3M

Raised more than 87% of sector peers (real $). Modeled value above 70% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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 #415 of 514.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Contabilizei Co · Series B Raised $66.4M · modeled $708.5M (est)Skan, Inc. · Series B Raised $39.3M · modeled $685.3M (est)Design Barn Inc. · Series B Raised $37.0M · modeled $663.3M (est)SKAEL, Inc. · Series B Raised $37.9M · modeled $659.0M (est)Maze.Design, Inc. · Series B Raised $57.0M · modeled $650.4M (est)Infinity Stones Inc. · Series B Raised $78.9M · modeled $649.1M (est)GridX, Inc. · Series B Raised $54.7M · modeled $623.9M (est)Convictional, Inc. · Series B Raised $43.4M · modeled $609.3M (est)SourceDay, Inc. · Series B Raised $58.0M · modeled $599.9M (est)Xatabase, Inc. · Series B Raised $35.0M · modeled $596.6M (est)Concord SCC Ltd · Series B Raised $39.8M · modeled $585.6M (est)sovrn Holdings, Inc. · Series B Raised $80.4M · modeled $560.0M (est)Better Trucks Last Mile, Inc. (this company) Raised $26.3M · modeled $97.0M (est)Better Trucks Last Mile, Inc.
CompanyStageRaised · realValue · estvs peer med.
Contabilizei CoSeries B$66.4M$708.5M3.30×
Skan, Inc.Series B$39.3M$685.3M3.19×
Design Barn Inc.Series B$37.0M$663.3M3.09×
SKAEL, Inc.Series B$37.9M$659.0M3.07×
Maze.Design, Inc.Series B$57.0M$650.4M3.03×
Infinity Stones Inc.Series B$78.9M$649.1M3.02×
GridX, Inc.Series B$54.7M$623.9M2.90×
Convictional, Inc.Series B$43.4M$609.3M2.84×
SourceDay, Inc.Series B$58.0M$599.9M2.79×
Xatabase, Inc.Series B$35.0M$596.6M2.78×
Concord SCC LtdSeries B$39.8M$585.6M2.73×
sovrn Holdings, Inc.Series B$80.4M$560.0M2.61×
Better Trucks Last Mile, Inc. this companySeries B$26.3M$97.0M0.45×
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.
Pre-Seed$250K2022-02-03$1.4M$4.5M90%
Series B$15.3M2022-11-01$84.9M$205.1M90%
Series B$10.8M2023-12-22$59.9M$97.0M90%
Series A$7.2M2023-12-22$32.6M$48.8M90%
Series A$6.5M2023-12-22$29.6M$44.3M90%
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. Pre-Seed$250K2022-02-03
    • First recorded raise — entered as Pre-Seed.
    • 2 investors on this round.
  2. Series B$15.3M2022-11-01
    • Raised 9 mo later, in step with the ~13 mo sector norm.
    • Round 61.2× larger than the prior — scaling up.
    • 25 investors on this round.
  3. Series B$10.8M2023-12-22
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 21 investors on this round.
  4. Series A$7.2M2023-12-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 14 investors on this round.
  5. Series A$6.5M2023-12-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 9 investors on this round.
Intelligence
2024 ~Q2
Modeled next raise · ~6mo cadence
$6.5M
Modeled next size est.range $6.5M$10.4M
0.9×
Last step-up
$14.0M/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
Eric Carlborg13 other2023-12
James Johnston8 other2023-12
Andrew J. Whiting2022-11
ANDREW WHITING2023-12
Andy Whiting2022-02
EDWARD LESHIN2023-12
Eric J. Carlborg2022-11
Weston J. Webb2022-11
WESTON WEBB2022-02
Registry & provenance

Better Trucks Last Mile, Inc. 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
1908018
SEC CIK
2022
Incorporated
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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.

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Frequently asked
How much funding has Better Trucks Last Mile, Inc. raised?
Better Trucks Last Mile, Inc. has raised approximately $26.3M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Better Trucks Last Mile, Inc.'s estimated valuation?
Provath's modeled valuation for Better Trucks Last Mile, Inc. is approximately $97.0M (modeled range $26.4M–$192.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Better Trucks Last Mile, Inc. at?
Better Trucks Last Mile, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Dec 22.
What does Better Trucks Last Mile, Inc. do and where is it based?
Better Trucks Last Mile, Inc. operates in the Other Technology sector, based in HILLSIDE.
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