Companies · Other Technology

Cortex Business Solutions Inc.

CALGARY · Other Technology

Diligence memoA one-page analyst read on Cortex Business Solutions Inc. — recommendation, valuation, rhythm, risks.
$10.1M
Total raised · real
5
Rounds
1.5×
Latest step-up
Top 28%
Sector rank · raised
Seed
Latest stage · inferred · Wed Sep 02 2015 00:00:00 GMT+0000 (Coordinated Universal Time)

Cortex Business Solutions 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 technology 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 1.95× the median modeled value of Seed Other Technology companies in 2013–2015 (1027 peers) — value vs value, same stage and era.
Dormant
  • Last raise 10.8 yr ago; this sector typically re-raises about every 13 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 Technology

Cortex Business Solutions Inc. is one of 21292 Other Technology companies tracked from CALGARY. By capital raised it ranks in the upper tier (ahead of 73% 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
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$50M$100M$150M$200MPre-Seed · 2009-05-12 Raised $168K (real) Modeled valuation $7.1M (est)$168K$7.1MPre-Seed2009Pre-Seed · 2009-05-12 Raised $168K (real) Modeled valuation $7.1M (est)$168K$7.1MPre-Seed2009Seed · 2011-05-31 Raised $2.0M (real) Modeled valuation $68M (est)$2.0M$68MSeed2011Seed · 2013-04-04 Raised $2.7M (real) Modeled valuation $91M (est)$2.7M$91MSeed2013Seed · 2014-02-28 Raised $2.1M (real) Modeled valuation $72M (est)$2.1M$72MSeed2014Seed · 2015-09-02 Raised $3.1M (real) Modeled valuation $106M (est)$3.1M$106MSeed2015+$168K+$2.0M+$2.7M+$2.1M+$3.1MCumulative $10M

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$168K · 2009
Pre-Seed extension$168K · 2009
Seed$2.0M · 2011
Seed extension$2.7M · 2013
Seed extension$2.1M · 2014
Seed extension$3.1M · 2015

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

Modeled valuation trajectory
$105.7M
Base estimate est.
$2.7M
Conservative case
$829.5M
Upside case
$15.5M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $7.1M · 2009-05-122009Pre-Seed · modeled $7.1M · 2009-05-12Seed · modeled $68.0M · 2011-05-31Seed · modeled $90.7M · 2013-04-04Seed · modeled $72.3M · 2014-02-28Seed · modeled $105.7M · 2015-09-022015
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
39%
Survival probability
18% low · 61% high
1.61×/yr
Annual markup
2.11×/yr upside case
6.0 yr
Elapsed time used
10.8 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
15 mo
Avg between rounds
$1.6M/yr
Capital velocity
17.1 yr
On record since
2009
First round
6
Rounds on file
How it compares to the market

Benchmarked against 21292 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) 3.2× above median
This company$10.1M
Sector median$3.2M
Latest round — vs other Seed rounds in sector (real $, this stage) 1.8× above median
This company$3.1M
Sector median$1.8M
Modeled value — vs sector median (estimate, all stages) 2.8× above median
This company$105.7M
Sector median$37.3M

Raised more than 73% of sector peers (real $). Modeled value above 72% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) 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 #121 of 1,027.

This companyCohort peer
$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Database Solutions, Inc. · Seed Raised $4.0M · modeled $136.3M (est)Fishbowl, Inc. · Seed Raised $4.0M · modeled $136.3M (est)CourseHorse, Inc. · Seed Raised $7.5M · modeled $136.3M (est)BAK USA Technologies Corp. · Seed Raised $4.0M · modeled $136.3M (est)Golfkick Llc · Seed Raised $4.0M · modeled $136.3M (est)OpenFin Inc. · Seed Raised $6.6M · modeled $136.3M (est)HoneyApps, Inc. · Seed Raised $6.0M · modeled $136.3M (est)DreamFactory Software, Inc · Seed Raised $7.5M · modeled $136.3M (est)Gamgee, Inc. · Seed Raised $6.5M · modeled $136.3M (est)Pixel Labs, Inc. · Seed Raised $4.0M · modeled $136.3M (est)Sipx, Inc. · Seed Raised $6.4M · modeled $136.3M (est)StepOne, Inc. · Seed Raised $4.0M · modeled $136.0M (est)Cortex Business Solutions Inc. (this company) Raised $10.1M · modeled $105.7M (est)Cortex Business Solutions Inc.
CompanyStageRaised · realValue · estvs peer med.
Database Solutions, Inc.Seed$4.0M$136.3M2.51×
Fishbowl, Inc.Seed$4.0M$136.3M2.51×
CourseHorse, Inc.Seed$7.5M$136.3M2.51×
BAK USA Technologies Corp.Seed$4.0M$136.3M2.51×
Golfkick LlcSeed$4.0M$136.3M2.51×
OpenFin Inc.Seed$6.6M$136.3M2.51×
HoneyApps, Inc.Seed$6.0M$136.3M2.51×
DreamFactory Software, IncSeed$7.5M$136.3M2.51×
Gamgee, Inc.Seed$6.5M$136.3M2.51×
Pixel Labs, Inc.Seed$4.0M$136.3M2.51×
Sipx, Inc.Seed$6.4M$136.3M2.51×
StepOne, Inc.Seed$4.0M$136.0M2.51×
Cortex Business Solutions Inc. this companySeed$10.1M$105.7M1.95×
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$168K2009-05-12$933K$7.1M90%
Pre-Seed$168K2009-05-12$933K$7.1M90%
Seed$2.0M2011-05-31$10.0M$68.0M90%
Seed$2.7M2013-04-04$13.3M$90.7M90%
Seed$2.1M2014-02-28$10.6M$72.3M90%
Seed$3.1M2015-09-02$15.5M$105.7M90%
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$168K2009-05-12
    • First recorded raise — entered as Pre-Seed.
  2. Pre-Seed$168K2009-05-12
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  3. Seed$2.0M2011-05-31
    • Raised again after 25 mo — slower than the ~13 mo sector norm.
    • Round 11.9× larger than the prior — scaling up.
  4. Seed$2.7M2013-04-04
    • Raised again after 22 mo — slower than the ~13 mo sector norm.
    • Round 1.3× larger than the prior — scaling up.
  5. Seed$2.1M2014-02-28
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
  6. Seed$3.1M2015-09-02
    • Raised 18 mo later, in step with the ~13 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
Intelligence
2016 ~Q4
Modeled next raise · ~15mo cadence
$4.5M
Modeled next size est.range $3.1M$7.3M
1.5×
Last step-up
$1.6M/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
Doron Cohen2 other2009-05
JOEL LEETZOW1 other2015-09
Mark Ripplinger1 other2009-05
Arthur (Art) B. Smith2013-04
Arthur B. Smith2009-05
Art Smith2011-05
Douglas J. Lailey2013-04
Douglas Lailey2009-05
Grant Billing2014-02
GRANT IAN BILLING2015-09
Hendrik D. Lombard2011-05
KEITH IAN POWELL2015-09
Keith J. Powell2013-04
Keith Powell2009-05
MARK IAN RIPPLINGER2015-09
Mark J. Ripplinger2013-04
Mike Rose2014-02
Randy Henderson2014-02
RANDY IAN HENDERSON2015-09
Randy J. Henderson2013-04
Ryan D. Lailey2011-05
Ryan Lailey2009-05
Sandra D. Weiler2011-05
Sandra Weiler2009-05
Registry & provenance

Cortex Business Solutions 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
1464772
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
Fintainium, Inc.Other TechnologySeries A$7.8M$24.5Mnetwork1 shared operator · same sector
Calpont CorpOther TechnologySeed$11.1M$102.2Msame sector · same stage
Spreedly, Inc.Other TechnologySeed$9.0M$102.2Msame sector · same stage
Ormet Circuits IncOther TechnologySeed$8.9M$109.0Msame sector · same stage
AppCast, Inc.Other TechnologySeed$8.8M$102.3Msame sector · same stage
RemitDATA, Inc.Other TechnologySeed$11.5M$102.2Msame sector · same stage
Citizengine, Inc.Other TechnologySeed$11.6M$104.9Msame sector · same stage
Bloomz Inc.Other TechnologySeed$8.7M$101.4Msame sector · same stage
Frequently asked
How much funding has Cortex Business Solutions Inc. raised?
Cortex Business Solutions Inc. has raised approximately $10.1M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Cortex Business Solutions Inc.'s estimated valuation?
Provath's modeled valuation for Cortex Business Solutions Inc. is approximately $105.7M (modeled range $2.7M–$829.5M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Cortex Business Solutions Inc. at?
Cortex Business Solutions Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Wed Sep 02.
What does Cortex Business Solutions Inc. do and where is it based?
Cortex Business Solutions Inc. operates in the Other Technology sector, based in CALGARY.
Explore related

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