Companies · Computers

Cypher, LlcWinter 2022Active

SOUTH JORDAN · CA, USA · Computers · founded 2022 · https://cypherhq.io/

Diligence memoA one-page analyst read on Cypher, Llc — recommendation, valuation, rhythm, risks.
$6.7M
Total raised · real
9
Rounds
1.5×
Latest step-up
Top 27%
Sector rank · raised
Seed
Latest stage · inferred · Tue Feb 21 2017 00:00:00 GMT+0000 (Coordinated Universal Time)

Cypher, Llc looks under-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 software/compute 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 0.08× the median modeled value of Seed Computers companies in 2016–2018 (63 peers) — value vs value, same stage and era.
Dormant
  • Last raise 9.4 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Cypher, Llc behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
14.2 yr record
Peak capital year was 2013 with $3.2M across 2 filings.
Market position
ahead of 74% of Computers peers
Capital scale is ahead of 74% of Computers peers; modeled value is above 17% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Some evidence
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • Capital program peaked in 2013: $3.2M across 2 filings.
  • Largest single filing was $2.5M on 2012-05-07.
  • Filing rows sum to $7.8M, while canonical raised total is $6.7M; likely amendments/superseded rows are mixed into the detail view.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
  • Canonical filtering should be tightened before using row-level totals for diligence.
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 Computers

Cypher, Llc is one of 1370 Computers companies tracked from SOUTH JORDAN, CA, USA, on record since 2022. By capital raised it ranks in the upper tier (ahead of 74% 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.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Crypto Neo-Bank (WhatsApp moment for bank accounts)

Internet broke physical boundaries in commerce and made it global. It never happened in finance. Almost all financial consumer apps are country specific. Stablecoins are the internet moment for finance industry. Cypher lets an user download an app from anywhere in the world and have a bank account in 5 mins and start transacting with the crypto card. Can instantly send USDC to anywhere in the world.

Crypto / Web3DeFiPaymentscrypto/web3
Find Cypher, Llc online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
14
Investors (latest)
2012
Year incorporated
2017-02-21
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$50M$100M$150M$200MPre-Seed · 2012-04-05 Raised $500K (real) Modeled valuation $25M (est)Pre-Seed2012Seed · 2012-05-07 Raised $2.5M (real) Modeled valuation $102M (est)Seed2012Seed · 2013-06-27 Raised $2.0M (real) Modeled valuation $81M (est)Seed2013Seed · 2013-06-27 Raised $1.2M (real) Modeled valuation $49M (est)Seed2013Seed · 2015-03-13 Raised $579K (real) Modeled valuation $24M (est)Seed2015Seed · 2015-09-08 Raised $447K (real) Modeled valuation $18M (est)Seed2015Seed · 2016-01-29 Raised $235K (real) Modeled valuation $9.6M (est)Seed2016Seed · 2016-08-05 Raised $157K (real) Modeled valuation $6.4M (est)Seed2016Seed · 2016-11-11 Raised $103K (real) Modeled valuation $4.2M (est)Seed2016Seed · 2017-02-21 Raised $151K (real) Modeled valuation $6.2M (est)Seed2017+$2.5M+$2.0M+$1.2M+$579K+$447K+$235K+$157K+$103K+$151KCumulative $7.8M

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$500K · 2012
Seed$2.5M · 2012
Seed extension$2.0M · 2013
Seed extension$1.2M · 2013
Seed extension$579K · 2015
Seed extension$447K · 2015
Seed extension$235K · 2016
Seed extension$157K · 2016
Seed extension$103K · 2016
Seed extension$151K · 2017

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

Modeled valuation trajectory
$6.2M
Base estimate est.
$136K
Conservative case
$48.4M
Upside case
$756K
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 software/compute sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $25.4M · 2012-04-052012Seed · modeled $102.0M · 2012-05-07Seed · modeled $80.9M · 2013-06-27Seed · modeled $48.7M · 2013-06-27Seed · modeled $23.6M · 2015-03-13Seed · modeled $18.3M · 2015-09-08Seed · modeled $9.6M · 2016-01-29Seed · modeled $6.4M · 2016-08-05Seed · modeled $4.2M · 2016-11-11Seed · modeled $6.2M · 2017-02-212017
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
40%
Survival probability
18% low · 62% high
1.65×/yr
Annual markup
2.17×/yr upside case
6.0 yr
Elapsed time used
9.4 yr actual, capped for stale marks
software/compute
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$1.4M/yr
Capital velocity
14.2 yr
On record since
2012
First round
10
Rounds on file
How it compares to the market

Benchmarked against 1370 companies in Computers. 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) 3.5× above median
This company$6.7M
Sector median$1.9M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.1× of median
This company$151K
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 0.2× of median
This company$6.2M
Sector median$33.0M

Raised more than 74% of sector peers (real $). Modeled value above 17% 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 #62 of 63.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$1.0M$10.0MCapital raised (log)Damn the Torpedoes, LLC · Seed Raised $4.0M · modeled $163.2M (est)Maingear, Inc. · Seed Raised $4.0M · modeled $163.2M (est)Glance Networks, Inc. · Seed Raised $4.0M · modeled $163.2M (est)Zyston, LLC · Seed Raised $3.7M · modeled $152.0M (est)Identity Automation Systems, LLC · Seed Raised $3.3M · modeled $132.6M (est)KeyNexus Inc. · Seed Raised $3.1M · modeled $128.5M (est)iQvcloud, Inc. · Seed Raised $3.0M · modeled $123.0M (est)Olono Inc. · Seed Raised $6.6M · modeled $122.9M (est)Building Block Management Inc · Seed Raised $3.0M · modeled $122.4M (est)Base Venture Investing, Inc. · Seed Raised $6.8M · modeled $122.4M (est)Rainnet Systems, Inc. · Seed Raised $3.0M · modeled $122.4M (est)FlipCause, Inc. · Seed Raised $2.8M · modeled $115.4M (est)Cypher, Llc (this company) Raised $6.7M · modeled $6.2M (est)Cypher, Llc
CompanyStageRaised · realValue · estvs peer med.
Damn the Torpedoes, LLCSeed$4.0M$163.2M2.23×
Maingear, Inc.Seed$4.0M$163.2M2.23×
Glance Networks, Inc.Seed$4.0M$163.2M2.23×
Zyston, LLCSeed$3.7M$152.0M2.08×
Identity Automation Systems, LLCSeed$3.3M$132.6M1.82×
KeyNexus Inc.Seed$3.1M$128.5M1.76×
iQvcloud, Inc.Seed$3.0M$123.0M1.68×
Olono Inc.Seed$6.6M$122.9M1.68×
Building Block Management IncSeed$3.0M$122.4M1.68×
Base Venture Investing, Inc.Seed$6.8M$122.4M1.68×
Rainnet Systems, Inc.Seed$3.0M$122.4M1.68×
FlipCause, Inc.Seed$2.8M$115.4M1.58×
Cypher, Llc this companySeed$6.7M$6.2M0.08×
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.
Pre-Seed$500K2012-04-05$2.8M$25.4M85%
Seed$2.5M2012-05-07$12.5M$102.0M85%
Seed$2.0M2013-06-27$9.9M$80.9M85%
Seed$1.2M2013-06-27$6.0M$48.7M85%
Seed$579K2015-03-13$2.9M$23.6M85%
Seed$447K2015-09-08$2.2M$18.3M85%
Seed$235K2016-01-29$1.2M$9.6M85%
Seed$157K2016-08-05$787K$6.4M85%
Seed$103K2016-11-11$514K$4.2M90%
Seed$151K2017-02-21$756K$6.2M90%
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$500K2012-04-05
    • First recorded raise — entered as Pre-Seed.
    • 2 investors on this round.
  2. Seed$2.5M2012-05-07
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 5.0× larger than the prior — scaling up.
    • 15 investors on this round.
  3. Seed$2.0M2013-06-27
    • Raised 14 mo later, in step with the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 06).
    • 17 investors on this round.
  4. Seed$1.2M2013-06-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× smaller than the prior — bridge or down round.
    • Switched to Rule 06 (was Rule 506(b)).
    • 14 investors on this round.
  5. Seed$579K2015-03-13
    • Raised again after 20 mo — slower than the ~12 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 10 investors on this round.
  6. Seed$447K2015-09-08
    • Came back fast: 6 mo vs the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 15 investors on this round.
  7. Seed$235K2016-01-29
    • Came back fast: 5 mo vs the ~12 mo sector norm.
    • Round 1.9× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  8. Seed$157K2016-08-05
    • Came back fast: 6 mo vs the ~12 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  9. Seed$103K2016-11-11
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  10. Seed$151K2017-02-21
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 14 investors on this round.
Intelligence
2017 ~Q3
Modeled next raise · ~7mo cadence
$222K
Modeled next size est.range $151K$356K
1.5×
Last step-up
$1.4M/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. Mella3 other2012-04
BRANDON D FUGAL1 other2012-04
JOHN D WALKER1 other2013-06
DAVID D DAME2015-03
DAVID D MOON2016-08
DAVID DUFF DAME2013-06
R. DUFF THOMPSON2012-05
TYSON D EDWARDS2012-04
Registry & provenance

Cypher, Llc 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
1547476
SEC CIK
2012
Incorporated
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Frequently asked
How much funding has Cypher, Llc raised?
Cypher, Llc has raised approximately $6.7M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Cypher, Llc's estimated valuation?
Provath's modeled valuation for Cypher, Llc is approximately $6.2M (modeled range $136K–$48.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Cypher, Llc at?
Cypher, Llc's latest modeled financing stage is Seed. Its most recent recorded round closed around Tue Feb 21.
What does Cypher, Llc do and where is it based?
Cypher, Llc operates in the Computers sector, based in SOUTH JORDAN, CA, USA. Crypto Neo-Bank (WhatsApp moment for bank accounts)
Explore related

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