Companies · Other Health Care

Cardiovascular Systems Inc

St. Paul · Other Health Care

Diligence memoA one-page analyst read on Cardiovascular Systems Inc — recommendation, valuation, rhythm, risks.
$58.5M
Total raised · real
8
Rounds
2.1×
Latest step-up
Top 8%
Sector rank · raised
Series A
Latest stage · inferred · Fri Dec 03 2010 00:00:00 GMT+0000 (Coordinated Universal Time)

Cardiovascular Systems Inc looks over-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 health care sector profile.

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

Over-valued
  • Modeled value is 2.34× the median modeled value of Series A Other Health Care companies in 2010–2012 (199 peers) — value vs value, same stage and era.
Dormant
  • Last raise 15.6 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal cadence.
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 Health Care

Cardiovascular Systems Inc is one of 5376 Other Health Care companies tracked from St. Paul. By capital raised it ranks among the largest (ahead of 93% 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.

As reported in public records reported — not modeled.

US
Jurisdiction
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$500MSeed · 2010-04-14 Raised $1.5M (real) Modeled valuation $37M (est)Seed2010Series A · 2010-12-03 Raised $12M (real) Modeled valuation $232M (est)Series A2010Series A · 2010-12-03 Raised $9.0M (real) Modeled valuation $182M (est)Series A2010Series A · 2010-12-03 Raised $8.0M (real) Modeled valuation $161M (est)Series A2010Series A · 2010-12-03 Raised $14M (real) Modeled valuation $272M (est)Series A2010Seed · 2010-12-03 Raised $4.0M (real) Modeled valuation $99M (est)Seed2010Seed · 2010-12-03 Raised $3.5M (real) Modeled valuation $87M (est)Seed2010Series A · 2010-12-03 Raised $7.5M (real) Modeled valuation $151M (est)Series A2010+$12M+$9.0M+$8.0M+$14M+$4.0M+$3.5M+$7.5MCumulative $59M

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
Seed$1.5M · 2010
Series A$11.5M · 2010
Series A extension$9.0M · 2010
Series A extension$8.0M · 2010
Series A extension$13.5M · 2010
Bridge · Series A-stage$4.0M · 2010smaller follow-on
Bridge · Series A-stage$3.5M · 2010smaller follow-on
Series A extension$7.5M · 2010

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$272.4M
Base estimate est.
$17.3M
Conservative case
$1.5B
Upside case
$61.4M
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 health care sector profile. Directional, not a quoted figure.

Seed · modeled $37.2M · 2010-04-142010Series A · modeled $232.1M · 2010-12-03Series A · modeled $181.6M · 2010-12-03Series A · modeled $161.4M · 2010-12-03Series A · modeled $272.4M · 2010-12-03Seed · modeled $99.1M · 2010-12-03Seed · modeled $86.7M · 2010-12-03Series A · modeled $151.3M · 2010-12-032010
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.43×/yr
Annual markup
1.80×/yr upside case
6.0 yr
Elapsed time used
15.6 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
1 mo
Avg between rounds
$91.7M/yr
Capital velocity
16.2 yr
On record since
2010
First round
8
Rounds on file
How it compares to the market

Benchmarked against 5376 companies in Other Health Care. 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) 24× above median
This company$58.5M
Sector median$2.4M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.3× above median
This company$7.5M
Sector median$5.6M
Modeled value — vs sector median (estimate, all stages) 12× above median
This company$272.4M
Sector median$22.1M

Raised more than 93% of sector peers (real $). Modeled value above 90% 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 #8 of 199.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0MCapital raised (log)Barrx Medical Inc · Series A Raised $15.0M · modeled $302.7M (est)Cas Medical Systems Inc · Series A Raised $16.9M · modeled $302.7M (est)Icad Inc · Series A Raised $27.1M · modeled $302.7M (est)Cardiosolutions Inc · Series A Raised $18.5M · modeled $300.3M (est)Ophthonix Inc · Series A Raised $24.7M · modeled $283.4M (est)FMS Watertown, LLC · Series A Raised $13.7M · modeled $277.2M (est)Flowood Vascular Access, LLC · Series A Raised $13.7M · modeled $277.2M (est)HemaSource Holdings LLC · Series A Raised $13.5M · modeled $272.2M (est)OMNI Home Health Acquisition, LLC · Series A Raised $12.6M · modeled $253.2M (est)Integrated Sleep Holdings Inc · Series A Raised $12.4M · modeled $249.9M (est)AngioScore Inc. · Series A Raised $12.0M · modeled $242.2M (est)Cardiovascular Systems Inc (this company) Raised $58.5M · modeled $272.4M (est)Cardiovascular Systems Inc
CompanyStageRaised · realValue · estvs peer med.
Barrx Medical IncSeries A$15.0M$302.7M2.60×
Cas Medical Systems IncSeries A$16.9M$302.7M2.60×
Icad IncSeries A$27.1M$302.7M2.60×
Cardiosolutions IncSeries A$18.5M$300.3M2.58×
Ophthonix IncSeries A$24.7M$283.4M2.44×
FMS Watertown, LLCSeries A$13.7M$277.2M2.38×
Flowood Vascular Access, LLCSeries A$13.7M$277.2M2.38×
Cardiovascular Systems Inc this companySeries A$58.5M$272.4M2.34×
HemaSource Holdings LLCSeries A$13.5M$272.2M2.34×
OMNI Home Health Acquisition, LLCSeries A$12.6M$253.2M2.18×
Integrated Sleep Holdings IncSeries A$12.4M$249.9M2.15×
AngioScore Inc.Series A$12.0M$242.2M2.08×
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.
Seed$1.5M2010-04-14$7.5M$37.2M90%
Series A$11.5M2010-12-03$52.3M$232.1M90%
Series A$9.0M2010-12-03$40.9M$181.6M90%
Series A$8.0M2010-12-03$36.4M$161.4M90%
Series A$13.5M2010-12-03$61.4M$272.4M90%
Seed$4.0M2010-12-03$20.0M$99.1M90%
Seed$3.5M2010-12-03$17.5M$86.7M90%
Series A$7.5M2010-12-03$34.1M$151.3M90%
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. Seed$1.5M2010-04-14
    • First recorded raise — entered as Seed.
  2. Series A$11.5M2010-12-03
    • Came back fast: 8 mo vs the ~14 mo sector norm.
    • Round 7.7× larger than the prior — scaling up.
  3. Series A$9.0M2010-12-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  4. Series A$8.0M2010-12-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  5. Series A$13.5M2010-12-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× larger than the prior — scaling up.
  6. Seed$4.0M2010-12-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.4× smaller than the prior — bridge or down round.
  7. Seed$3.5M2010-12-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  8. Series A$7.5M2010-12-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.1× larger than the prior — scaling up.
Intelligence
2011 ~Q1
Modeled next raise · ~1mo cadence
$16.1M
Modeled next size est.range $10.4M$25.7M
2.1×
Last step-up
$91.7M/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
Glen D. Nelson3 other2010-04
John H. Friedman2 other2010-04
Augustine O. Lawlor1 other2010-04
Brent G. Blackey1 other2010-04
David L. Martin1 other2010-04
Edward H. Brown1 other2010-12
James E. Flaherty1 other2010-04
Robert J. Thatcher1 other2010-04
Augustine H. Lawlor2010-12
Brian J. Doughty2010-04
Edward O. Brown2010-04
Geoffrey O. Hartzler2010-04
Kevin J. Kenny2010-12
Laurence L. Betterley2010-04
Leslie L. Trigg2010-04
Paul J. Koehn2010-04
Paul J. Tyska2010-04
Scott A Bartos2010-12
Scott J. Kraus2010-04
Registry & provenance

Cardiovascular Systems 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
1180145
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.

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InterValve IncOther Health CareSeries A$21.3M$51.9Mnetwork1 shared operator · same sector · same stage
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Wellfount, CorpOther Health CareSeries A$49.4M$240.5Msame sector · same stage
Nanostim IncOther Health CareSeries A$48.0M$191.7Msame sector · same stage
ForSight VISION5, Inc.Other Health CareSeries A$76.8M$238.2Msame sector · same stage
Minimally Invasive Devices Inc.Other Health CareSeries A$43.3M$284.9Msame sector · same stage
Medventive IncOther Health CareSeries A$38.3M$242.2Msame sector · same stage
Frequently asked
How much funding has Cardiovascular Systems Inc raised?
Cardiovascular Systems Inc has raised approximately $58.5M in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is Cardiovascular Systems Inc's estimated valuation?
Provath's modeled valuation for Cardiovascular Systems Inc is approximately $272.4M (modeled range $17.3M–$1.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Cardiovascular Systems Inc at?
Cardiovascular Systems Inc's latest modeled financing stage is Series A. Its most recent recorded round closed around Fri Dec 03.
What does Cardiovascular Systems Inc do and where is it based?
Cardiovascular Systems Inc operates in the Other Health Care sector, based in St. Paul.
Explore related

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

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