Diligence memo · auto-generated · as of July 2, 2026
Etalon
Etalon looks fair against its niche peers and is at-risk on financing cadence.
Businessfiled
Etalon operates in Business Services, based in REDWOOD CITY.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Etalon has raised $20M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $18M on 2022-12-31.
Most recent recorded round closed around 2022-12-31.
Valuation (modeled)modeled
Provath models Etalon at approximately $194M (range $46M–$462M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.16× the median modeled value of Series B Business Services companies in 2022–2024 (27 peers) — value vs value, same stage and era. Within the normal band (116% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 12 months.
Last raise 3.5 yr ago; this sector typically re-raises about every 12 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 85.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 90% of Business Services peers (2439 compared).
Modeled value ranks above 92% of those peers.
Closest niche peers: Socially Determined, Inc., SWISS GROUP FINANCE Corp, Truora Inc., C3 Capital, Inc., Relay Ridge Capital LLC.
Peoplefiled
9 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.