Companies · Telecommunications

BluStream Corp

WORCESTER · Telecommunications

Diligence memoA one-page analyst read on BluStream Corp — recommendation, valuation, rhythm, risks.
$12.2M
Total raised · real
7
Rounds
1.5×
Latest step-up
Top 31%
Sector rank · raised
Series A
Latest stage · inferred · Wed Sep 24 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

BluStream Corp looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the telecom 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 0.38× the median modeled value of Series A Telecommunications companies in 2025–2027 (16 peers) — value vs value, same stage and era.
Active
  • Last raise 9 mo ago; this sector typically re-raises about every 10 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Telecommunications

BluStream Corp is one of 929 Telecommunications companies tracked from WORCESTER. By capital raised it ranks in the upper tier (ahead of 70% of sector peers), and in the long tail 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
29
Investors (latest)
2025-09-24
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$25M$50M$75M$100MPre-Seed · 2017-10-12 Raised $608K (real) Modeled valuation $16M (est)Pre-Seed2017Seed · 2019-03-08 Raised $1.1M (real) Modeled valuation $25M (est)Seed2019Pre-Seed · 2019-03-08 Raised $725K (real) Modeled valuation $19M (est)Pre-Seed2019Seed · 2020-09-28 Raised $1.1M (real) Modeled valuation $21M (est)Seed2020Series A · 2021-08-09 Raised $5.5M (real) Modeled valuation $67M (est)Series A2021Series A · 2021-08-09 Raised $5.2M (real) Modeled valuation $63M (est)Series A2021Series A · 2023-11-14 Raised $465K (real) Modeled valuation $2.7M (est)Series A2023Seed · 2024-10-12 Raised $2.1M (real) Modeled valuation $8.0M (est)Seed2024Series A · 2024-10-12 Raised $1.4M (real) Modeled valuation $5.9M (est)Series A2024Series A · 2025-09-24 Raised $2.0M (real) Modeled valuation $6.3M (est)Series A2025+$1.1M+$725K+$1.1M+$5.5M+$5.2M+$465K+$2.1M+$1.4M+$2.0MCumulative $20M

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$608K · 2017
Seed$1.1M · 2019
Bridge · Seed-stage$725K · 2019smaller follow-on
Seed extension$1.1M · 2020
Series A$5.5M · 2021
Series A extension$5.2M · 2021
Series A extension$465K · 2023
Bridge · Series A-stage$2.1M · 2024smaller follow-on
Series A extension$1.4M · 2024
Series A extension$2.0M · 2025

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$6.3M
Base estimate est.
$2.7M
Conservative case
$10.3M
Upside case
$9.2M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the telecom sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $16.3M · 2017-10-122017Seed · modeled $24.8M · 2019-03-08Pre-Seed · modeled $19.4M · 2019-03-08Seed · modeled $21.5M · 2020-09-28Series A · modeled $66.9M · 2021-08-09Series A · modeled $62.7M · 2021-08-09Series A · modeled $2.7M · 2023-11-14Seed · modeled $8.0M · 2024-10-12Series A · modeled $5.9M · 2024-10-12Series A · modeled $6.3M · 2025-09-242025
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
53%
Survival probability
29% low · 73% high
1.39×/yr
Annual markup
1.75×/yr upside case
0.8 yr
Elapsed time used
0.8 yr actual, capped for stale marks
telecom
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$1.5M/yr
Capital velocity
8.7 yr
On record since
2017
First round
10
Rounds on file
How it compares to the market

Benchmarked against 929 companies in Telecommunications. 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) 3.1× above median
This company$12.2M
Sector median$4.0M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.4× of median
This company$2.0M
Sector median$5.3M
Modeled value — vs sector median (estimate, all stages) 0.2× of median
This company$6.3M
Sector median$28.3M

Raised more than 70% of sector peers (real $). Modeled value above 18% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #13 of 16.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Affiniti Ventures, Inc. · Series A Raised $10.4M · modeled $37.6M (est)Searchlight III CVL, LLC · Series A Raised $9.2M · modeled $32.2M (est)Caregility Corp · Series A Raised $7.5M · modeled $26.0M (est)Ondas Networks Inc. · Series A Raised $27.9M · modeled $23.7M (est)Otava, Inc. · Series A Raised $12.4M · modeled $21.6M (est)Tango Tango, Inc. · Series A Raised $5.9M · modeled $20.6M (est)Eino, Inc. · Series A Raised $5.0M · modeled $19.3M (est)Reddy Solutions, Inc. · Series A Raised $6.2M · modeled $17.7M (est)Ses S.A. · Series A Raised $10.1M · modeled $15.2M (est)Smith Micro Software, Inc. · Series A Raised $78.5M · modeled $13.2M (est)Alyrica Networks, Inc. · Series A Raised $4.3M · modeled $13.1M (est)Aervivo, Inc. · Series A Raised $9.5M · modeled $7.2M (est)BluStream Corp (this company) Raised $12.2M · modeled $6.3M (est)BluStream Corp
CompanyStageRaised · realValue · estvs peer med.
Affiniti Ventures, Inc.Series A$10.4M$37.6M2.28×
Searchlight III CVL, LLCSeries A$9.2M$32.2M1.96×
Caregility CorpSeries A$7.5M$26.0M1.58×
Ondas Networks Inc.Series A$27.9M$23.7M1.44×
Otava, Inc.Series A$12.4M$21.6M1.31×
Tango Tango, Inc.Series A$5.9M$20.6M1.25×
Eino, Inc.Series A$5.0M$19.3M1.17×
Reddy Solutions, Inc.Series A$6.2M$17.7M1.07×
Ses S.A.Series A$10.1M$15.2M0.93×
Smith Micro Software, Inc.Series A$78.5M$13.2M0.80×
Alyrica Networks, Inc.Series A$4.3M$13.1M0.79×
Aervivo, Inc.Series A$9.5M$7.2M0.44×
BluStream Corp this companySeries A$12.2M$6.3M0.38×
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$608K2017-10-12$3.4M$16.3M90%
Seed$1.1M2019-03-08$5.8M$24.8M90%
Pre-Seed$725K2019-03-08$4.0M$19.4M90%
Seed$1.1M2020-09-28$5.5M$21.5M90%
Series A$5.5M2021-08-09$25.0M$66.9M90%
Series A$5.2M2021-08-09$23.4M$62.7M90%
Series A$465K2023-11-14$2.1M$2.7M90%
Seed$2.1M2024-10-12$10.4M$8.0M90%
Series A$1.4M2024-10-12$6.3M$5.9M90%
Series A$2.0M2025-09-24$9.2M$6.3M90%
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$608K2017-10-12
    • First recorded raise — entered as Pre-Seed.
    • 12 investors on this round.
  2. Seed$1.1M2019-03-08
    • Raised again after 17 mo — slower than the ~10 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
    • 9 investors on this round.
  3. Pre-Seed$725K2019-03-08
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  4. Seed$1.1M2020-09-28
    • Raised again after 19 mo — slower than the ~10 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 5 investors on this round.
  5. Series A$5.5M2021-08-09
    • Raised 10 mo later, in step with the ~10 mo sector norm.
    • Round 5.0× larger than the prior — scaling up.
    • 13 investors on this round.
  6. Series A$5.2M2021-08-09
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 10 investors on this round.
  7. Series A$465K2023-11-14
    • Raised again after 27 mo — slower than the ~10 mo sector norm.
    • Round 11.1× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  8. Seed$2.1M2024-10-12
    • Raised 11 mo later, in step with the ~10 mo sector norm.
    • Round 4.5× larger than the prior — scaling up.
    • 28 investors on this round.
  9. Series A$1.4M2024-10-12
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 25 investors on this round.
  10. Series A$2.0M2025-09-24
    • Raised 11 mo later, in step with the ~10 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 29 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~11mo cadence
$3.0M
Modeled next size est.range $2.0M$4.7M
1.5×
Last step-up
$1.5M/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
Kyle York7 other2020-09
Thomas Axbey3 other2021-08
Bruce Clarke2 other2021-08
Gregory Baker2 other2017-10
Scott Weller2 other2021-08
Bhaskar Panigrahi1 other2017-10
Michael Piraino1 other2017-10
Kenneth Rapp2017-10
Robert Bean2017-10
Thomas Folliard2020-09
Registry & provenance

BluStream Corp 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
1720966
SEC CIK
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
Otava, Inc.TelecommunicationsSeries A$12.4M$21.6Msame sector · same stage
Virginia Everywhere, LLCTelecommunicationsSeries A$11.8M$22.4Msame sector · same stage
Cyberreef Solutions, Inc.TelecommunicationsSeries A$11.7M$9.8Msame sector · same stage
Geocommand IncTelecommunicationsSeries A$11.6M$4.1Msame sector · same stage
Truconnect, LlcTelecommunicationsSeries A$11.0M$18.0Msame sector · same stage
AM3 Pinnacle CorpTelecommunicationsSeries A$14.5M$17.5Msame sector · same stage
PhoneBrasil International IncTelecommunicationsSeries A$14.7M$2.0Msame sector · same stage
Ses S.A.TelecommunicationsSeries A$10.1M$15.2Msame 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
Blue Danube Systems, Inc.TelecommunicationsSeries B$38.5M83%
BlueNet Technologies Inc.TelecommunicationsSeries B$216.7M81%
Blucadia, IncOther TechnologyPre-Seed$35.6M80%
Blusky Ai Inc.TelecommunicationsSeed$4.8M80%
Bluon, Inc.Other TechnologySeries B$9.6M80%
Jive Communications, Inc.TelecommunicationsSeries B$62.5M80%
Liquidity River, IncTelecommunicationsSeed$4.3M80%
BluGlass LtdOther TechnologyPre-Seed$4.2M79%
Frequently asked
How much funding has BluStream Corp raised?
BluStream Corp has raised approximately $12.2M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is BluStream Corp's estimated valuation?
Provath's modeled valuation for BluStream Corp is approximately $6.3M (modeled range $2.7M–$10.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is BluStream Corp at?
BluStream Corp's latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Sep 24.
What does BluStream Corp do and where is it based?
BluStream Corp operates in the Telecommunications sector, based in WORCESTER.
Explore related

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

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