Companies · Manufacturing

Energy Focus, Inc/De

SOLON · Manufacturing

Diligence memoA one-page analyst read on Energy Focus, Inc/De — recommendation, valuation, rhythm, risks.
$12.8M
Total raised · real
6
Rounds
0.8×
Latest step-up
Top 20%
Sector rank · raised
Series A
Latest stage · inferred · Fri Jun 03 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Energy Focus, Inc/De looks fair 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 manufacturing sector profile.

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

Fair
  • Modeled value is 0.77× the median modeled value of Series A Manufacturing companies in 2022–2024 (114 peers) — value vs value, same stage and era.
  • Within the normal band (77% of peer median) for its niche.
Dormant
  • Last raise 4.1 yr ago; this sector typically re-raises about every 12 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 Manufacturing

Energy Focus, Inc/De is one of 3257 Manufacturing companies tracked from SOLON. By capital raised it ranks in the upper tier (ahead of 81% 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
$5M–$25M
Issuer revenue
Rule 506(b)
Reg D exemption
3
Investors (latest)
2022-06-03
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$13M$25M$38M$50MSeed · 2009-12-29 Raised $1.5M (real) Modeled valuation $18M (est)$1.5M$18MSeed2009Seed · 2010-03-30 Raised $1.1M (real) Modeled valuation $14M (est)$1.1M$14MSeed2010Seed · 2019-03-29 Raised $1.7M (real) Modeled valuation $21M (est)$1.7M$21MSeed2019Seed · 2020-01-13 Raised $430K (real) Modeled valuation $5.3M (est)$430K$5.3MSeed2020Series A · 2021-12-13 Raised $4.5M (real) Modeled valuation $32M (est)$4.5M$32MSeries A2021Series A · 2022-06-03 Raised $3.5M (real) Modeled valuation $23M (est)$3.5M$23MSeries A2022+$1.1M+$1.7M+$430K+$4.5M+$3.5MCumulative $13M

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
Seed$1.5M · 2009
Seed extension$1.1M · 2010
Seed extension$1.7M · 2019
Seed extension$430K · 2020
Series A$4.5M · 2021
Series A extension$3.5M · 2022

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: 67%.

Modeled valuation trajectory
$22.6M
Base estimate est.
$4.9M
Conservative case
$78.9M
Upside case
$15.9M
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 scaled by the manufacturing sector profile. Directional, not a quoted figure.

Seed · modeled $18.4M · 2009-12-292009Seed · modeled $14.1M · 2010-03-30Seed · modeled $20.9M · 2019-03-29Seed · modeled $5.3M · 2020-01-13Series A · modeled $32.3M · 2021-12-13Series A · modeled $22.6M · 2022-06-032022
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
56%
Survival probability
31% low · 77% high
1.26×/yr
Annual markup
1.58×/yr upside case
4.1 yr
Elapsed time used
4.1 yr actual, capped for stale marks
manufacturing
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
30 mo
Avg between rounds
$1.0M/yr
Capital velocity
16.5 yr
On record since
2009
First round
6
Rounds on file
How it compares to the market

Benchmarked against 3257 companies in Manufacturing. 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) 6.3× above median
This company$12.8M
Sector median$2.0M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.7× of median
This company$3.5M
Sector median$5.3M
Modeled value — vs sector median (estimate, all stages) 1.9× above median
This company$22.6M
Sector median$12.0M

Raised more than 81% of sector peers (real $). Modeled value above 66% 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 #79 of 114.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Whitehorse Timber Ventures SPC · Series A Raised $13.8M · modeled $95.9M (est)Camden Timbers Holdings, LLC · Series A Raised $13.0M · modeled $85.5M (est)RST Brands, LLC · Series A Raised $15.0M · modeled $84.5M (est)Plantd, Inc. · Series A Raised $13.6M · modeled $77.1M (est)Sanford Aluminum Group, LLC · Series A Raised $11.0M · modeled $72.9M (est)Decked, L.L.C. · Series A Raised $12.4M · modeled $65.3M (est)Mustang Motor Holdings, LLC · Series A Raised $9.2M · modeled $62.3M (est)LiftWave, Inc. · Series A Raised $21.7M · modeled $60.8M (est)SUN METALON Inc. · Series A Raised $9.6M · modeled $58.9M (est)MSolar Manufacturing, LLC · Series A Raised $16.0M · modeled $58.9M (est)American Battery Factory Inc. · Series A Raised $11.7M · modeled $57.9M (est)Agbanga Karite, Inc. · Series A Raised $9.6M · modeled $56.9M (est)Energy Focus, Inc/De (this company) Raised $12.8M · modeled $22.6M (est)Energy Focus, Inc/De
CompanyStageRaised · realValue · estvs peer med.
Whitehorse Timber Ventures SPCSeries A$13.8M$95.9M3.29×
Camden Timbers Holdings, LLCSeries A$13.0M$85.5M2.93×
RST Brands, LLCSeries A$15.0M$84.5M2.90×
Plantd, Inc.Series A$13.6M$77.1M2.65×
Sanford Aluminum Group, LLCSeries A$11.0M$72.9M2.50×
Decked, L.L.C.Series A$12.4M$65.3M2.24×
Mustang Motor Holdings, LLCSeries A$9.2M$62.3M2.14×
LiftWave, Inc.Series A$21.7M$60.8M2.09×
SUN METALON Inc.Series A$9.6M$58.9M2.02×
MSolar Manufacturing, LLCSeries A$16.0M$58.9M2.02×
American Battery Factory Inc.Series A$11.7M$57.9M1.99×
Agbanga Karite, Inc.Series A$9.6M$56.9M1.95×
Energy Focus, Inc/De this companySeries A$12.8M$22.6M0.77×
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.
Seed$1.5M2009-12-29$7.5M$18.4M85%
Seed$1.1M2010-03-30$5.8M$14.1M85%
Seed$1.7M2019-03-29$8.5M$20.9M90%
Seed$430K2020-01-13$2.2M$5.3M90%
Series A$4.5M2021-12-13$20.5M$32.3M90%
Series A$3.5M2022-06-03$15.9M$22.6M90%
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. Seed$1.5M2009-12-29
    • First recorded raise — entered as Seed.
    • 4 investors on this round.
  2. Seed$1.1M2010-03-30
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  3. Seed$1.7M2019-03-29
    • Raised again after 108 mo — slower than the ~12 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • Switched to Rule 506(c) (was Rule 06).
    • 5 investors on this round.
  4. Seed$430K2020-01-13
    • Raised 10 mo later, in step with the ~12 mo sector norm.
    • Round 4.0× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 9 investors on this round.
  5. Series A$4.5M2021-12-13
    • Raised again after 23 mo — slower than the ~12 mo sector norm.
    • Round 10.5× larger than the prior — scaling up.
    • 7 investors on this round.
  6. Series A$3.5M2022-06-03
    • Came back fast: 6 mo vs the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~30mo cadence
$3.5M
Modeled next size est.range $3.5M$5.6M
0.8×
Last step-up
$1.0M/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
Stephen Socolof5 other2020-01
James Tu1 other2019-03
Tod Nestor1 other2020-01
Brian Lagarto2022-06
David James Anthony2010-03
David James Gelbaum2009-12
David N Ruckert2009-12
Eric W Hilliard2009-12
Geraldine McManus2019-03
Gina Huang2021-12
Greg Galluccio2022-06
James Warren2021-12
Jeff Parker2022-06
Jennifer Cheng2019-03
J James Finnerty2009-12
John M Davenport2009-12
Joseph G Kaveski2009-12
Michael A Kasper2009-12
Michael Ramelot2019-03
Nicholas G Berchtold2009-12
Paul A Von Paumgartten2009-12
Philip E Wolfson2009-12
Philip Politziner2020-01
Phillip Politziner2021-12
Registry & provenance

Energy Focus, Inc/De 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
924168
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
Presidium USA, Inc.ManufacturingSeries A$13.1M$18.2Msame sector · same stage
Green Dot Bioplastics Inc.ManufacturingSeries A$12.3M$29.4Msame sector · same stage
Lomont Molding LLCManufacturingSeries A$12.1M$17.0Msame sector · same stage
Eco.Logic Brands IncManufacturingSeries A$12.0M$21.6Msame sector · same stage
Aptera Motors, Inc.ManufacturingSeries A$12.0M$22.2Msame sector · same stage
Ammo, Inc.ManufacturingSeries A$14.4M$25.0Msame sector · same stage
BioCision, LLCManufacturingSeries A$11.3M$27.5Msame sector · same stage
Element Labs IncManufacturingSeries A$14.5M$23.0Msame 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
Focused Energy Inc.Other EnergySeries A$83.0M85%
Power Solutions Holdings, LLCManufacturingSeries A$17.1M84%
ERP Power Holdings, LLCManufacturingSeries A$54.9M84%
LightManufacturing, Inc.ManufacturingSeed$5.1M83%
Green Matters Technologies Inc.ManufacturingSeed$2.2M83%
Inductance Energy CorpManufacturingSeries C$113.2M82%
BT Energy, Inc.ManufacturingSeries B$194.6M82%
Light, LLCManufacturingPre-Seed$9.9M82%
Frequently asked
How much funding has Energy Focus, Inc/De raised?
Energy Focus, Inc/De has raised approximately $12.8M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Energy Focus, Inc/De's estimated valuation?
Provath's modeled valuation for Energy Focus, Inc/De is approximately $22.6M (modeled range $4.9M–$78.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Energy Focus, Inc/De at?
Energy Focus, Inc/De's latest modeled financing stage is Series A. Its most recent recorded round closed around Fri Jun 03.
What does Energy Focus, Inc/De do and where is it based?
Energy Focus, Inc/De operates in the Manufacturing sector, based in SOLON.
Explore related

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

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