Companies · Other Health Care

Coding Solutions Topco, Inc.

NEW YORK · Other Health Care

Diligence memoA one-page analyst read on Coding Solutions Topco, Inc. — recommendation, valuation, rhythm, risks.
$376.3M
Total raised · real
7
Rounds
100.0×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Sep 29 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Coding Solutions Topco, 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 health care 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 0.51× the median modeled value of Series D+ Other Health Care companies in 2022–2024 (17 peers) — value vs value, same stage and era.
At-risk
  • Last raise 2.8 yr ago; this sector typically re-raises about every 14 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 Health Care

Coding Solutions Topco, Inc. is one of 5377 Other Health Care companies tracked from NEW YORK. 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
3
Investors (latest)
2019
Year incorporated
2023-09-29
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+ · 2019-12-31 Raised $265M (real) Modeled valuation $6.1B (est)Series D+2019Series D+ · 2020-01-21 Raised $900K (real) Modeled valuation $21M (est)Series D+2020Series D+ · 2020-06-30 Raised $3.2M (real) Modeled valuation $74M (est)Series D+2020Series D+ · 2020-12-31 Raised $41M (real) Modeled valuation $847M (est)Series D+2020Series D+ · 2022-05-11 Raised $16M (real) Modeled valuation $252M (est)Series D+2022Series D+ · 2022-08-19 Raised $500K (real) Modeled valuation $7.4M (est)Series D+2022Series D+ · 2023-09-29 Raised $50M (real) Modeled valuation $589M (est)Series D+2023+$900K+$3.2M+$41M+$16M+$500K+$50MCumulative $376M

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+$264.8M · 2019
Series D+ extension$900K · 2020
Series D+ extension$3.2M · 2020
Series D+ extension$40.8M · 2020
Series D+ extension$16.1M · 2022
Series D+ extension$500K · 2022
Series D+ extension$50.0M · 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 — 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
$588.6M
Base estimate est.
$266.3M
Conservative case
$891.2M
Upside case
$416.7M
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 health care sector profile. Directional, not a quoted figure.

Series D+ · modeled $6.1B · 2019-12-312019Series D+ · modeled $20.7M · 2020-01-21Series D+ · modeled $73.6M · 2020-06-30Series D+ · modeled $846.6M · 2020-12-31Series D+ · modeled $252.4M · 2022-05-11Series D+ · modeled $7.4M · 2022-08-19Series D+ · modeled $588.6M · 2023-09-292023
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
80%
Survival probability
64% low · 88% high
1.23×/yr
Annual markup
1.38×/yr upside case
2.8 yr
Elapsed time used
2.8 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$100.5M/yr
Capital velocity
6.5 yr
On record since
2019
First round
7
Rounds on file
How it compares to the market

Benchmarked against 5377 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) 155× above median
This company$376.3M
Sector median$2.4M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.4× of median
This company$50.0M
Sector median$123.0M
Modeled value — vs sector median (estimate, all stages) 27× above median
This company$588.6M
Sector median$22.1M

Raised more than 99% of sector peers (real $). Modeled value above 94% 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 #13 of 17.

This companyCohort peer
$100.0M$1.0B$10.0B$100.0M$1.0BCapital raised (log)United Digestive Holdings, LLC · Series D+ Raised $323.3M · modeled $4.2B (est)DispatchHealth Holdings, Inc. · Series D+ Raised $578.0M · modeled $3.7B (est)Zimmer Biomet Holdings, Inc. · Series D+ Raised $216.1M · modeled $2.9B (est)Main Street Rural, Inc. · Series D+ Raised $211.2M · modeled $2.4B (est)Richmond Buyer L.P. · Series D+ Raised $232.6M · modeled $2.2B (est)Thirty Madison, Inc. · Series D+ Raised $255.7M · modeled $1.8B (est)Ember Management Aggregator, L.P. · Series D+ Raised $129.9M · modeled $1.8B (est)Glooko, Inc. · Series D+ Raised $221.0M · modeled $1.2B (est)Renovaro Inc. · Series D+ Raised $123.3M · modeled $1.2B (est)HistoSonics, Inc. · Series D+ Raised $308.2M · modeled $1.0B (est)Ecph, Llc · Series D+ Raised $285.4M · modeled $915.4M (est)Cortica Inc. · Series D+ Raised $210.9M · modeled $757.8M (est)Coding Solutions Topco, Inc. (this company) Raised $376.3M · modeled $588.6M (est)Coding Solutions Topco, Inc.
CompanyStageRaised · realValue · estvs peer med.
United Digestive Holdings, LLCSeries D+$323.3M$4.2B3.63×
DispatchHealth Holdings, Inc.Series D+$578.0M$3.7B3.17×
Zimmer Biomet Holdings, Inc.Series D+$216.1M$2.9B2.50×
Main Street Rural, Inc.Series D+$211.2M$2.4B2.07×
Richmond Buyer L.P.Series D+$232.6M$2.2B1.93×
Thirty Madison, Inc.Series D+$255.7M$1.8B1.56×
Ember Management Aggregator, L.P.Series D+$129.9M$1.8B1.55×
Glooko, Inc.Series D+$221.0M$1.2B1.05×
Renovaro Inc.Series D+$123.3M$1.2B1.00×
HistoSonics, Inc.Series D+$308.2M$1.0B0.87×
Ecph, LlcSeries D+$285.4M$915.4M0.79×
Cortica Inc.Series D+$210.9M$757.8M0.65×
Coding Solutions Topco, Inc. this companySeries D+$376.3M$588.6M0.51×
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+$264.8M2019-12-31$2.2B$6.1B90%
Series D+$900K2020-01-21$7.5M$20.7M90%
Series D+$3.2M2020-06-30$26.7M$73.6M90%
Series D+$40.8M2020-12-31$340.0M$846.6M90%
Series D+$16.1M2022-05-11$134.2M$252.4M90%
Series D+$500K2022-08-19$4.2M$7.4M90%
Series D+$50.0M2023-09-29$416.7M$588.6M90%
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+$264.8M2019-12-31
    • First recorded raise — entered as Series D+.
    • 10 investors on this round.
  2. Series D+$900K2020-01-21
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 294.2× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  3. Series D+$3.2M2020-06-30
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 3.6× larger than the prior — scaling up.
    • 2 investors on this round.
  4. Series D+$40.8M2020-12-31
    • Came back fast: 6 mo vs the ~14 mo sector norm.
    • Round 12.7× larger than the prior — scaling up.
    • 38 investors on this round.
  5. Series D+$16.1M2022-05-11
    • Raised 16 mo later, in step with the ~14 mo sector norm.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 30 investors on this round.
  6. Series D+$500K2022-08-19
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 32.2× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  7. Series D+$50.0M2023-09-29
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 100.0× larger than the prior — scaling up.
    • 3 investors on this round.
Intelligence
2024 ~Q2
Modeled next raise · ~7mo cadence
$150.0M
Modeled next size est.range $97.5M$240.0M
100.0×
Last step-up
$100.5M/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
Vivek Sharma3 other2022-08
Kevin Green1 other2019-12
Amy Madhava Perry2020-06
Brent Bickett2019-12
James Prutow2022-08
James Shillito2019-12
Joseph Bress2019-12
Linda Madhava Hoff2020-06
Neeraj Bharadwaj2019-12
Patrick Leonard2019-12
Robert Wilhelm2019-12
Ryan Caswell2020-01
Scott Tudor2020-01
Shankar Narayana Madhava Narayanan2019-12
Shankar Narayanan Madhava Menon2022-05
Stephen Wise2019-12
Torrey Barnhouse2019-12
Registry & provenance

Coding Solutions Topco, 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
1799776
SEC CIK
2019
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
HeartFlow Holding, Inc.Other Health CareSeries D+$314.2M$432.6Msame sector · same stage
Aeneas Parent Corp.Other Health CareSeries D+$298.3M$644.1Msame sector · same stage
Ecph, LlcOther Health CareSeries D+$285.4M$915.4Msame sector · same stage
Wugen, Inc.Other Health CareSeries D+$245.2M$870.8Msame sector · same stage
Cortica Inc.Other Health CareSeries D+$210.9M$757.8Msame sector · same stage
TMRW Life Sciences, Inc.Other Health CareSeries D+$184.8M$284.2Msame sector · same stage
Origin Holdings Inc.Other Health CareSeries D+$137.0M$253.1Msame sector · same stage
ByHeart, Inc.Other Health CareSeries C$378.4M$493.6Msame 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
Abs Topco, LlcOther Health CareSeries B$34.2M86%
Stillwater Topco, LLCOther Health CareSeries B$97.2M86%
HighFive Healthcare TopCo, LLCHealthtechSeries C$601.3M84%
InterWell Topco L.P.Other Health CareSeries B$178.3M84%
Eden Topco LtdOther Health CareSeries B$80.2M83%
Code Biotherapeutics, Inc.Other Health CareSeries B$465.8M82%
Senior Solutions, LLCOther Health CarePre-Seed$1.2M82%
TGHCo, Inc.Other Health CareSeries B$178.2M81%
Frequently asked
How much funding has Coding Solutions Topco, Inc. raised?
Coding Solutions Topco, Inc. has raised approximately $376.3M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Coding Solutions Topco, Inc.'s estimated valuation?
Provath's modeled valuation for Coding Solutions Topco, Inc. is approximately $588.6M (modeled range $266.3M–$891.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Coding Solutions Topco, Inc. at?
Coding Solutions Topco, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Sep 29.
What does Coding Solutions Topco, Inc. do and where is it based?
Coding Solutions Topco, Inc. operates in the Other Health Care sector, based in NEW YORK.
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