Companies · Other Technology

Ecovative Design LLC

GREEN ISLAND · Other Technology

Diligence memoA one-page analyst read on Ecovative Design LLC — recommendation, valuation, rhythm, risks.
$133.5M
Total raised · real
9
Rounds
0.5×
Latest step-up
Top 3%
Sector rank · raised
Series C
Latest stage · inferred · Wed May 31 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Ecovative Design LLC 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 technology 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 0.62× the median modeled value of Series C Other Technology companies in 2022–2024 (187 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.1 yr ago; this sector typically re-raises about every 13 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.

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

Issuer-vehicle patternmedium confidence

Ecovative Design 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
15.2 yr record
Peak capital year was 2021 with $60.8M across 1 filings.
Market position
ahead of 98% of Other Technology peers
Capital scale is ahead of 98% of Other Technology peers; modeled value is above 91% 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
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
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.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2021: $60.8M across 1 filings.
  • Largest single filing was $60.8M on 2021-03-23.
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.
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

Ecovative Design LLC is one of 21302 Other Technology companies tracked from GREEN ISLAND. By capital raised it ranks among the largest (ahead of 98% 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
16
Investors (latest)
2023-05-31
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$500M$1.0B$1.5B$2.0BSeries A · 2011-05-06 Raised $6.5M (real) Modeled valuation $181M (est)Series A2011Series A · 2013-07-11 Raised $12M (real) Modeled valuation $319M (est)Series A2013Series A · 2013-09-27 Raised $2.6M (real) Modeled valuation $72M (est)Series A2013Series A · 2016-01-05 Raised $3.9M (real) Modeled valuation $108M (est)Series A2016Series A · 2016-10-31 Raised $5.1M (real) Modeled valuation $141M (est)Series A2016Series A · 2018-02-15 Raised $1.4M (real) Modeled valuation $38M (est)Series A2018Series A · 2019-10-02 Raised $10M (real) Modeled valuation $277M (est)Series A2019Series C · 2021-03-23 Raised $61M (real) Modeled valuation $1.5B (est)Series C2021Series C · 2023-05-31 Raised $32M (real) Modeled valuation $413M (est)Series C2023+$12M+$2.6M+$3.9M+$5.1M+$1.4M+$10M+$61M+$32MCumulative $134M

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$6.5M · 2011
Series A extension$11.5M · 2013
Series A extension$2.6M · 2013
Series A extension$3.9M · 2016
Series A extension$5.1M · 2016
Series A extension$1.4M · 2018
Series A extension$10.0M · 2019
Series C$60.8M · 2021no Series B on file
Series C extension$31.7M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$412.6M
Base estimate est.
$120.3M
Conservative case
$728.2M
Upside case
$211.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series A · modeled $180.7M · 2011-05-062011Series A · modeled $319.4M · 2013-07-11Series A · modeled $72.4M · 2013-09-27Series A · modeled $108.4M · 2016-01-05Series A · modeled $140.7M · 2016-10-31Series A · modeled $37.6M · 2018-02-15Series A · modeled $277.4M · 2019-10-02Series C · modeled $1.5B · 2021-03-23Series C · modeled $412.6M · 2023-05-312023
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
76%
Survival probability
57% low · 88% high
1.35×/yr
Annual markup
1.55×/yr upside case
3.1 yr
Elapsed time used
3.1 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
18 mo
Avg between rounds
$11.1M/yr
Capital velocity
15.2 yr
On record since
2011
First round
9
Rounds on file
How it compares to the market

Benchmarked against 21302 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) 42× above median
This company$133.5M
Sector median$3.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.6× of median
This company$31.7M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 11× above median
This company$412.6M
Sector median$37.3M

Raised more than 98% of sector peers (real $). Modeled value above 91% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #138 of 187.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)LinkSquares, Inc. · Series C Raised $160.2M · modeled $1.9B (est)Semperis Ltd. · Series C Raised $130.0M · modeled $1.8B (est)Veev Group, Inc. · Series C Raised $94.5M · modeled $1.8B (est)GPI Acquisitions, Inc. · Series C Raised $175.0M · modeled $1.7B (est)DVX Ventures LLC · Series C Raised $119.8M · modeled $1.5B (est)Ncr Corp · Series C Raised $73.7M · modeled $1.5B (est)RelationalAI, Inc. · Series C Raised $74.0M · modeled $1.4B (est)Nantero Inc · Series C Raised $172.9M · modeled $1.4B (est)MoEngage, Inc. · Series C Raised $172.2M · modeled $1.4B (est)H2scan Corp · Series C Raised $83.2M · modeled $1.4B (est)ITsavvy Holdings, LLC · Series C Raised $81.4M · modeled $1.4B (est)Coherent Group Inc. · Series C Raised $74.0M · modeled $1.3B (est)Ecovative Design LLC (this company) Raised $133.5M · modeled $412.6M (est)Ecovative Design LLC
CompanyStageRaised · realValue · estvs peer med.
LinkSquares, Inc.Series C$160.2M$1.9B2.80×
Semperis Ltd.Series C$130.0M$1.8B2.74×
Veev Group, Inc.Series C$94.5M$1.8B2.71×
GPI Acquisitions, Inc.Series C$175.0M$1.7B2.47×
DVX Ventures LLCSeries C$119.8M$1.5B2.27×
Ncr CorpSeries C$73.7M$1.5B2.19×
RelationalAI, Inc.Series C$74.0M$1.4B2.07×
Nantero IncSeries C$172.9M$1.4B2.06×
MoEngage, Inc.Series C$172.2M$1.4B2.05×
H2scan CorpSeries C$83.2M$1.4B2.03×
ITsavvy Holdings, LLCSeries C$81.4M$1.4B2.03×
Coherent Group Inc.Series C$74.0M$1.3B2.02×
Ecovative Design LLC this companySeries C$133.5M$412.6M0.62×
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$6.5M2011-05-06$29.6M$180.7M85%
Series A$11.5M2013-07-11$52.3M$319.4M85%
Series A$2.6M2013-09-27$11.9M$72.4M85%
Series A$3.9M2016-01-05$17.8M$108.4M85%
Series A$5.1M2016-10-31$23.1M$140.7M90%
Series A$1.4M2018-02-15$6.2M$37.6M90%
Series A$10.0M2019-10-02$45.5M$277.4M90%
Series C$60.8M2021-03-23$405.5M$1.5B90%
Series C$31.7M2023-05-31$211.6M$412.6M90%
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 A$6.5M2011-05-06
    • First recorded raise — entered as Series A.
    • 11 investors on this round.
  2. Series A$11.5M2013-07-11
    • Raised again after 26 mo — slower than the ~13 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • 22 investors on this round.
  3. Series A$2.6M2013-09-27
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round 4.4× smaller than the prior — bridge or down round.
    • Switched to Rule 506(c) (was Rule 06).
    • 8 investors on this round.
  4. Series A$3.9M2016-01-05
    • Raised again after 27 mo — slower than the ~13 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 13 investors on this round.
  5. Series A$5.1M2016-10-31
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 17 investors on this round.
  6. Series A$1.4M2018-02-15
    • Raised 16 mo later, in step with the ~13 mo sector norm.
    • Round 3.7× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 8 investors on this round.
  7. Series A$10.0M2019-10-02
    • Raised 20 mo later, in step with the ~13 mo sector norm.
    • Round 7.4× larger than the prior — scaling up.
    • 1 investor on this round.
  8. Series C$60.8M2021-03-23
    • Raised 18 mo later, in step with the ~13 mo sector norm.
    • Round 6.1× larger than the prior — scaling up.
    • 18 investors on this round.
  9. Series C$31.7M2023-05-31
    • Raised again after 26 mo — slower than the ~13 mo sector norm.
    • Round 1.9× smaller than the prior — bridge or down round.
    • 16 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~18mo cadence
$31.7M
Modeled next size est.range $31.7M$50.8M
0.5×
Last step-up
$11.1M/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
EBEN BAYER1 other2011-05
Evan Lodes1 other2019-10
Jessica Harris1 other2021-03
CHARLES DEULL2011-05
GAVIN MCINTYRE2011-05
JERRY WEINSTEIN2011-05
RICHARD KELSON2011-05
Steven Sherwood2021-03
Tom Masterson2023-05
Registry & provenance

Ecovative Design 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
1521458
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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Ecorithm, Inc.Other TechnologySeries A$92.4M85%
Ecolibrium, Inc.Other TechnologySeries A$37.2M84%
Eco-Shelter Inc.Other TechnologySeed$8.2M84%
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Frequently asked
How much funding has Ecovative Design LLC raised?
Ecovative Design LLC has raised approximately $133.5M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Ecovative Design LLC's estimated valuation?
Provath's modeled valuation for Ecovative Design LLC is approximately $412.6M (modeled range $120.3M–$728.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Ecovative Design LLC at?
Ecovative Design LLC's latest modeled financing stage is Series C. Its most recent recorded round closed around Wed May 31.
What does Ecovative Design LLC do and where is it based?
Ecovative Design LLC operates in the Other Technology sector, based in GREEN ISLAND.
Explore related

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