Companies · Biotechnology

Dare Bioscience, Inc.

SAN DIEGO · Biotechnology

Diligence memoA one-page analyst read on Dare Bioscience, Inc. — recommendation, valuation, rhythm, risks.
$102.0M
Total raised · real
10
Rounds
8.7×
Latest step-up
Top 11%
Sector rank · raised
Series B
Latest stage · inferred · Mon Oct 21 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Dare Bioscience, Inc. looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech 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 0.56× the median modeled value of Series B Biotechnology companies in 2022–2024 (197 peers) — value vs value, same stage and era.
Quiet
  • Last raise 20 mo ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector 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 Biotechnology

Dare Bioscience, Inc. is one of 4291 Biotechnology companies tracked from SAN DIEGO. By capital raised it ranks among the largest (ahead of 90% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

biotech

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
1
Investors (latest)
2024-10-21
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$250M$500M$750M$1.0BSeries A · 2009-07-13 Raised $10M (real) Modeled valuation $362M (est)Series A2009Series A · 2010-05-26 Raised $5.0M (real) Modeled valuation $181M (est)Series A2010Series A · 2010-09-29 Raised $1.5M (real) Modeled valuation $54M (est)Series A2010Series B · 2010-11-12 Raised $16M (real) Modeled valuation $655M (est)Series B2010Series B · 2011-12-02 Raised $15M (real) Modeled valuation $595M (est)Series B2011Series B · 2012-11-30 Raised $13M (real) Modeled valuation $516M (est)Series B2012Series B · 2017-07-19 Raised $21M (real) Modeled valuation $821M (est)Series B2017Series B · 2019-11-20 Raised $3.5M (real) Modeled valuation $141M (est)Series B2019Seed · 2019-11-20 Raised $2.4M (real) Modeled valuation $105M (est)Seed2019Series B · 2023-12-21 Raised $1.7M (real) Modeled valuation $15M (est)Series B2023Series B · 2024-10-21 Raised $15M (real) Modeled valuation $94M (est)Series B2024Cumulative $104M

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 A$10.0M · 2009
Series A extension$5.0M · 2010
Series A extension$1.5M · 2010
Series B$16.5M · 2010
Series B extension$15.0M · 2011
Series B extension$13.0M · 2012
Series B extension$20.7M · 2017
Series B extension$3.5M · 2019
Bridge · Series B-stage$2.4M · 2019smaller follow-on
Series B extension$1.7M · 2023
Series B extension$15.0M · 2024

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: 75%.

Modeled valuation trajectory
$93.7M
Base estimate est.
$30.0M
Conservative case
$158.1M
Upside case
$83.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series A · modeled $361.5M · 2009-07-132009Series A · modeled $180.8M · 2010-05-26Series A · modeled $54.2M · 2010-09-29Series B · modeled $654.9M · 2010-11-12Series B · modeled $595.3M · 2011-12-02Series B · modeled $516.0M · 2012-11-30Series B · modeled $821.2M · 2017-07-19Series B · modeled $140.7M · 2019-11-20Seed · modeled $105.2M · 2019-11-20Series B · modeled $15.5M · 2023-12-21Series B · modeled $93.7M · 2024-10-212024
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
36% low · 66% high
1.54×/yr
Annual markup
1.86×/yr upside case
1.7 yr
Elapsed time used
1.7 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
18 mo
Avg between rounds
$6.7M/yr
Capital velocity
17.0 yr
On record since
2009
First round
11
Rounds on file
How it compares to the market

Benchmarked against 4291 companies in Biotechnology. 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) 14× above median
This company$102.0M
Sector median$7.2M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.9× of median
This company$15.0M
Sector median$17.5M
Modeled value — vs sector median (estimate, all stages) 1.5× above median
This company$93.7M
Sector median$64.2M

Raised more than 90% of sector peers (real $). Modeled value above 58% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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 #133 of 197.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Mt McKinley Medical Holding Corp USA · Series B Raised $40.0M · modeled $737.5M (est)YAP Therapeutics Inc · Series B Raised $30.1M · modeled $617.6M (est)Pinteon Therapeutics, Inc. · Series B Raised $39.2M · modeled $603.1M (est)OncXerna Therapeutics, Ltd. · Series B Raised $30.0M · modeled $590.7M (est)EpiBiologics, Inc. · Series B Raised $30.0M · modeled $569.5M (est)GIOGI Ltd · Series B Raised $27.3M · modeled $553.9M (est)SonoThera, Inc. · Series B Raised $30.4M · modeled $550.2M (est)Perceive Biotherapeutics, Inc. · Series B Raised $40.0M · modeled $544.0M (est)GIOHEALTH Ltd · Series B Raised $24.5M · modeled $498.0M (est)GIOCAN Ltd · Series B Raised $24.5M · modeled $498.0M (est)GIODIA Ltd · Series B Raised $24.5M · modeled $498.0M (est)Cerapedics Inc · Series B Raised $99.1M · modeled $491.7M (est)Dare Bioscience, Inc. (this company) Raised $102.0M · modeled $93.7M (est)Dare Bioscience, Inc.
CompanyStageRaised · realValue · estvs peer med.
Mt McKinley Medical Holding Corp USASeries B$40.0M$737.5M4.41×
YAP Therapeutics IncSeries B$30.1M$617.6M3.69×
Pinteon Therapeutics, Inc.Series B$39.2M$603.1M3.60×
OncXerna Therapeutics, Ltd.Series B$30.0M$590.7M3.53×
EpiBiologics, Inc.Series B$30.0M$569.5M3.40×
GIOGI LtdSeries B$27.3M$553.9M3.31×
SonoThera, Inc.Series B$30.4M$550.2M3.29×
Perceive Biotherapeutics, Inc.Series B$40.0M$544.0M3.25×
GIOHEALTH LtdSeries B$24.5M$498.0M2.97×
GIOCAN LtdSeries B$24.5M$498.0M2.97×
GIODIA LtdSeries B$24.5M$498.0M2.97×
Cerapedics IncSeries B$99.1M$491.7M2.94×
Dare Bioscience, Inc. this companySeries B$102.0M$93.7M0.56×
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 A$10.0M2009-07-13$45.5M$361.5M85%
Series A$5.0M2010-05-26$22.7M$180.8M85%
Series A$1.5M2010-09-29$6.8M$54.2M85%
Series B$16.5M2010-11-12$91.7M$654.9M85%
Series B$15.0M2011-12-02$83.3M$595.3M85%
Series B$13.0M2012-11-30$72.2M$516.0M85%
Series B$20.7M2017-07-19$115.0M$821.2M90%
Series B$3.5M2019-11-20$19.7M$140.7M90%
Seed$2.4M2019-11-20$11.8M$105.2M90%
Series B$1.7M2023-12-21$9.6M$15.5M90%
Series B$15.0M2024-10-21$83.3M$93.7M90%
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. Series A$10.0M2009-07-13
    • First recorded raise — entered as Series A.
    • 13 investors on this round.
  2. Series A$5.0M2010-05-26
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 13 investors on this round.
  3. Series A$1.5M2010-09-29
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 3.3× smaller than the prior — bridge or down round.
    • 15 investors on this round.
  4. Series B$16.5M2010-11-12
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 11.0× larger than the prior — scaling up.
    • 17 investors on this round.
  5. Series B$15.0M2011-12-02
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 19 investors on this round.
  6. Series B$13.0M2012-11-30
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 16 investors on this round.
  7. Series B$20.7M2017-07-19
    • Raised again after 56 mo — slower than the ~14 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 18 investors on this round.
  8. Series B$3.5M2019-11-20
    • Raised again after 28 mo — slower than the ~14 mo sector norm.
    • Round 5.8× smaller than the prior — bridge or down round.
    • 28 investors on this round.
  9. Seed$2.4M2019-11-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 28 investors on this round.
  10. Series B$1.7M2023-12-21
    • Raised again after 49 mo — slower than the ~14 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  11. Series B$15.0M2024-10-21
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 8.7× larger than the prior — scaling up.
    • 1 investor on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~18mo cadence
$45.0M
Modeled next size est.range $29.3M$72.0M
8.7×
Last step-up
$6.7M/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
Robert Langer35 other2009-07
John P Ryan10 other2010-11
Alan Crane8 other2009-07
Terry McGuire7 other2009-07
Robert Tepper6 other2009-07
Bryan E. Roberts5 other2009-07
Alexandra Glucksmann3 other2009-07
Cheryl R. Blanchard3 other2023-12
Steven E. Hall3 other2010-11
Robert E. Langer2 other2010-05
Christopher D.T. Guiffre1 other2012-11
Ram Sasisekharan1 other2009-07
Robert E. Tepper1 other2010-05
Roger L. Hawley1 other2017-07
Sabrina Martucci Johnson1 other2017-07
Susan L. Kelley1 other2017-07
William H. Rastetter1 other2017-07
Alan E. Crane2010-05
Alexandra E. Glucksmann2012-11
Alexandra P. Glucksmann2010-11
Cheryl J. Blanchard2019-11
David P. DeMagistris2010-11
Edward E. Garmey2012-11
Edward P. Garmey2011-12
Registry & provenance

Dare Bioscience, 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
1401914
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
Visterra, Inc.BiotechnologySeries B$82.4M$1.4Bnetwork2 shared operators · same sector · same stage
Seventh Sense Biosystems, Inc.BiotechnologySeries B$62.9M$732.6Mnetwork2 shared operators · same sector · same stage
MicroCHIPS, Inc.BiotechnologySeries B$27.9M$740.1Mnetwork2 shared operators · same sector · same stage
Achaogen IncBiotechnologySeries B$89.7M$396.9Mnetwork1 shared operator · same sector · same stage
KALA BIO, Inc.BiotechnologySeries C$158.8M$8.3Mnetwork2 shared operators · same sector
Ocular Therapeutix, IncBiotechnologySeries B$81.0M$1.5Bnetwork1 shared operator · same sector · same stage
Noveome Biotherapeutics, Inc.BiotechnologySeries B$54.8M$381.8Mnetwork1 shared operator · same sector · same stage
Syntis Bio, Inc.BiotechnologySeries B$46.7M$117.9Mnetwork1 shared operator · same 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
Factor Bioscience LLCBiotechnologyPre-Seed$2.2M83%
Flagship Biosciences, Inc.BiotechnologySeries B$39.2M83%
Snap Bio, Inc.BiotechnologySeed$73.6M83%
Pressure Biosciences IncBiotechnologySeries B$693.0M82%
BioSolution Designs, Inc.BiotechnologyPre-Seed$1.1M81%
Twist Bioscience CorpBiotechnologySeries C$2.0B81%
Couragene, Inc.BiotechnologySeed$5.5M81%
Pattern Bioscience, Inc.BiotechnologySeries C$260.9M81%
Frequently asked
How much funding has Dare Bioscience, Inc. raised?
Dare Bioscience, Inc. has raised approximately $102.0M in disclosed capital across 10 recorded financing rounds, aggregated from public filings.
What is Dare Bioscience, Inc.'s estimated valuation?
Provath's modeled valuation for Dare Bioscience, Inc. is approximately $93.7M (modeled range $30.0M–$158.1M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Dare Bioscience, Inc. at?
Dare Bioscience, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Mon Oct 21.
What does Dare Bioscience, Inc. do and where is it based?
Dare Bioscience, Inc. operates in the Biotechnology sector, based in SAN DIEGO.
Explore related

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

Is this your company?

If you work at Dare Bioscience, Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.