Companies · Other

Eat the Change, Inc.

BETHESDA · Other

Diligence memoA one-page analyst read on Eat the Change, Inc. — recommendation, valuation, rhythm, risks.
$47.1M
Total raised · real
6
Rounds
9.0×
Latest step-up
Top 8%
Sector rank · raised
Series A
Latest stage · inferred · Tue Feb 17 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

Eat the Change, Inc. looks fair against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page.

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

Fair
  • Modeled value is 1.30× the median modeled value of Series A Other companies in 2025–2027 (485 peers) — value vs value, same stage and era.
  • Within the normal band (130% of peer median) for its niche.
Active
  • Last raise 4 mo ago; this sector typically re-raises about every 11 months.
  • Raising on or ahead of the sector's normal rhythm.
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

Eat the Change, Inc. is one of 25008 Other companies tracked from BETHESDA. By capital raised it ranks among the largest (ahead of 93% 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
61
Investors (latest)
2026-02-17
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$200MSeries A · 2020-12-31 Raised $4.1M (real) Modeled valuation $53M (est)$4.1M$53MSeries A2020Series A · 2022-01-14 Raised $4.5M (real) Modeled valuation $43M (est)$4.5M$43MSeries A2022Series A · 2022-08-03 Raised $14M (real) Modeled valuation $117M (est)$14M$117MSeries A2022Series A · 2023-09-29 Raised $14M (real) Modeled valuation $80M (est)$14M$80MSeries A2023Series A · 2025-05-14 Raised $1000K (real) Modeled valuation $3.5M (est)$1000K$3.5MSeries A2025Series A · 2026-02-17 Raised $9.0M (real) Modeled valuation $25M (est)$9.0M$25MSeries A2026+$4.5M+$14M+$14M+$1000K+$9.0MCumulative $47M

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$4.1M · 2020
Series A extension$4.5M · 2022
Series A extension$14.5M · 2022
Series A extension$14.0M · 2023
Series A extension$1000K · 2025
Series A extension$9.0M · 2026

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$25.1M
Base estimate est.
$12.3M
Conservative case
$37.3M
Upside case
$40.9M
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. Directional, not a quoted figure.

Series A · modeled $53.4M · 2020-12-312020Series A · modeled $42.9M · 2022-01-14Series A · modeled $117.0M · 2022-08-03Series A · modeled $80.0M · 2023-09-29Series A · modeled $3.5M · 2025-05-14Series A · modeled $25.1M · 2026-02-172026
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
55%
Survival probability
30% low · 75% high
1.35×/yr
Annual markup
1.70×/yr upside case
0.4 yr
Elapsed time used
0.4 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$9.2M/yr
Capital velocity
5.5 yr
On record since
2020
First round
6
Rounds on file
How it compares to the market

Benchmarked against 25008 companies in Other. 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) 23× above median
This company$47.1M
Sector median$2.0M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.6× above median
This company$9.0M
Sector median$5.7M
Modeled value — vs sector median (estimate, all stages) 1.4× above median
This company$25.1M
Sector median$17.7M

Raised more than 93% of sector peers (real $). Modeled value above 59% 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 #157 of 485.

This companyCohort peer
$10.0M$100.0M$10.0M$100.0MCapital raised (log)Sea Court GP, LLC · Series A Raised $15.0M · modeled $57.7M (est)Kastle Biopartners II LP · Series A Raised $14.4M · modeled $53.1M (est)Econic Investment LLC · Series A Raised $14.0M · modeled $53.1M (est)DCFC Holdings, LLC · Series A Raised $16.1M · modeled $51.8M (est)HeadVantage Corp · Series A Raised $15.0M · modeled $50.8M (est)Cobbs Creek Restoration & Community Foundation · Series A Raised $14.1M · modeled $50.5M (est)Mawson Resources Ltd · Series A Raised $26.3M · modeled $50.2M (est)Chess Champion Ltd Liability Co · Series A Raised $15.0M · modeled $50.1M (est)Sepratech TopCo, LLC · Series A Raised $14.6M · modeled $49.7M (est)MATT & LEWIS DEVELOPMENT Ltd LIABILITY Co · Series A Raised $15.0M · modeled $48.6M (est)FlyGuys, Inc · Series A Raised $16.7M · modeled $48.5M (est)Empyrean Club, LLC · Series A Raised $14.0M · modeled $48.0M (est)Eat the Change, Inc. (this company) Raised $47.1M · modeled $25.1M (est)Eat the Change, Inc.
CompanyStageRaised · realValue · estvs peer med.
Sea Court GP, LLCSeries A$15.0M$57.7M2.98×
Kastle Biopartners II LPSeries A$14.4M$53.1M2.75×
Econic Investment LLCSeries A$14.0M$53.1M2.74×
DCFC Holdings, LLCSeries A$16.1M$51.8M2.67×
HeadVantage CorpSeries A$15.0M$50.8M2.62×
Cobbs Creek Restoration & Community FoundationSeries A$14.1M$50.5M2.61×
Mawson Resources LtdSeries A$26.3M$50.2M2.60×
Chess Champion Ltd Liability CoSeries A$15.0M$50.1M2.59×
Sepratech TopCo, LLCSeries A$14.6M$49.7M2.57×
MATT & LEWIS DEVELOPMENT Ltd LIABILITY CoSeries A$15.0M$48.6M2.51×
FlyGuys, IncSeries A$16.7M$48.5M2.51×
Empyrean Club, LLCSeries A$14.0M$48.0M2.48×
Eat the Change, Inc. this companySeries A$47.1M$25.1M1.30×
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$4.1M2020-12-31$18.6M$53.4M90%
Series A$4.5M2022-01-14$20.5M$42.9M90%
Series A$14.5M2022-08-03$65.8M$117.0M90%
Series A$14.0M2023-09-29$63.6M$80.0M90%
Series A$1000K2025-05-14$4.5M$3.5M90%
Series A$9.0M2026-02-17$40.9M$25.1M90%
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$4.1M2020-12-31
    • First recorded raise — entered as Series A.
    • 5 investors on this round.
  2. Series A$4.5M2022-01-14
    • Raised 12 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 8 investors on this round.
  3. Series A$14.5M2022-08-03
    • Came back fast: 7 mo vs the ~11 mo sector norm.
    • Round 3.2× larger than the prior — scaling up.
    • 8 investors on this round.
  4. Series A$14.0M2023-09-29
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 40 investors on this round.
  5. Series A$1000K2025-05-14
    • Raised again after 19 mo — slower than the ~11 mo sector norm.
    • Round 14.0× smaller than the prior — bridge or down round.
    • 50 investors on this round.
  6. Series A$9.0M2026-02-17
    • Raised 9 mo later, in step with the ~11 mo sector norm.
    • Round 9.0× larger than the prior — scaling up.
    • 61 investors on this round.
Intelligence
2027 ~Q1
Modeled next raise · ~12mo cadence
$27.0M
Modeled next size est.range $17.6M$43.2M
9.0×
Last step-up
$9.2M/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
CRAIG SHAPIRO14 other2022-08
Seth Goldman4 other2020-12
Melissa Bradley2 other2023-09
Barry Nalebuff1 other2022-01
Evangelos Mendelsohn2022-01
Margarita Herdocia2022-01
Robert Trone2026-02
Registry & provenance

Eat the Change, 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
1846954
SEC CIK
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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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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
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Changing Environments Inc.OtherSeed$46.5M80%
Eat Well Investment Group Inc.OtherPre-Seed$2.5M79%
Eat Cook Joy IncOtherSeries A$17.4M78%
Change Up Inc.Other TechnologySeries A$51.3M78%
Hungryroot, Inc.OtherSeries B$379.2M78%
Frequently asked
How much funding has Eat the Change, Inc. raised?
Eat the Change, Inc. has raised approximately $47.1M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Eat the Change, Inc.'s estimated valuation?
Provath's modeled valuation for Eat the Change, Inc. is approximately $25.1M (modeled range $12.3M–$37.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Eat the Change, Inc. at?
Eat the Change, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Tue Feb 17.
What does Eat the Change, Inc. do and where is it based?
Eat the Change, Inc. operates in the Other sector, based in BETHESDA.
Explore related

See where Eat the Change, 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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