Companies · Other

Expedition Topco Llc

SAN FRANCISCO · Other

Diligence memoA one-page analyst read on Expedition Topco Llc — recommendation, valuation, rhythm, risks.
$146.6M
Total raised · real
2
Rounds
0.6×
Latest step-up
Top 4%
Sector rank · raised
Series C
Latest stage · inferred · Fri Jan 26 2018 00:00:00 GMT+0000 (Coordinated Universal Time)

Expedition Topco Llc 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.

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

Fair
  • Modeled value is 1.06× the median modeled value of Series C Other companies in 2016–2018 (135 peers) — value vs value, same stage and era.
  • Within the normal band (106% of peer median) for its niche.
Dormant
  • Last raise 8.4 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.

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

Issuer-vehicle patternmedium confidence

Expedition Topco 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
8.8 yr record
Peak capital year was 2017 with $93.1M across 1 filings.
Market position
ahead of 97% of Other peers
Capital scale is ahead of 97% of Other peers; modeled value is above 96% 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
Lower 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.
  • Sector is still broad/Other, so operating comparables are weak.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2017: $93.1M across 1 filings.
  • Largest single filing was $93.1M on 2017-08-29.
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

Expedition Topco Llc is one of 25015 Other companies tracked from SAN FRANCISCO. By capital raised it ranks among the largest (ahead of 97% 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
7
Investors (latest)
2017
Year incorporated
2018-01-26
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 C · 2017-08-29 Raised $93M (real) Modeled valuation $1.6B (est)$93M$1.6BSeries C2017Series C · 2018-01-26 Raised $54M (real) Modeled valuation $917M (est)$54M$917MSeries C2018+$54MCumulative $147M

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 C$93.1M · 2017
Series C extension$53.5M · 2018

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 20%.

Modeled valuation trajectory
$917.3M
Base estimate est.
$206.9M
Conservative case
$2.4B
Upside case
$356.7M
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. Directional, not a quoted figure.

Series C · modeled $1.6B · 2017-08-292017Series C · modeled $917.3M · 2018-01-262018
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
78%
Survival probability
58% low · 90% high
1.22×/yr
Annual markup
1.40×/yr upside case
6.0 yr
Elapsed time used
8.4 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
5 mo
Avg between rounds
$357.0M/yr
Capital velocity
8.8 yr
On record since
2017
First round
2
Rounds on file
How it compares to the market

Benchmarked against 25015 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) 72× above median
This company$146.6M
Sector median$2.0M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.1× above median
This company$53.5M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 52× above median
This company$917.3M
Sector median$17.7M

Raised more than 97% of sector peers (real $). Modeled value above 96% 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 #62 of 135.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)C.K. Futures, Llc · Series C Raised $100.0M · modeled $1.7B (est)Corey Moffitt Trust · Series C Raised $100.0M · modeled $1.7B (est)Blockvest LLC · Series C Raised $100.0M · modeled $1.7B (est)Mel Investment Holdings, Llc · Series C Raised $100.0M · modeled $1.7B (est)Nash Holdings, Inc. (Robert Nash, President) · Series C Raised $100.0M · modeled $1.7B (est)Endries Holdings LLC · Series C Raised $99.5M · modeled $1.7B (est)West Star Aviation Holdings LLC · Series C Raised $99.3M · modeled $1.7B (est)DTI Management, LLC · Series C Raised $96.6M · modeled $1.7B (est)American Global Logistics Investment, LLC · Series C Raised $96.1M · modeled $1.6B (est)Zena Holdings, LLC · Series C Raised $95.9M · modeled $1.6B (est)Antenna79, Inc. · Series C Raised $114.4M · modeled $1.6B (est)Bird Rides, Inc. · Series C Raised $94.7M · modeled $1.6B (est)Expedition Topco Llc (this company) Raised $146.6M · modeled $917.3M (est)Expedition Topco Llc
CompanyStageRaised · realValue · estvs peer med.
C.K. Futures, LlcSeries C$100.0M$1.7B1.98×
Corey Moffitt TrustSeries C$100.0M$1.7B1.98×
Blockvest LLCSeries C$100.0M$1.7B1.98×
Mel Investment Holdings, LlcSeries C$100.0M$1.7B1.98×
Nash Holdings, Inc. (Robert Nash, President)Series C$100.0M$1.7B1.98×
Endries Holdings LLCSeries C$99.5M$1.7B1.97×
West Star Aviation Holdings LLCSeries C$99.3M$1.7B1.97×
DTI Management, LLCSeries C$96.6M$1.7B1.92×
American Global Logistics Investment, LLCSeries C$96.1M$1.6B1.91×
Zena Holdings, LLCSeries C$95.9M$1.6B1.90×
Antenna79, Inc.Series C$114.4M$1.6B1.88×
Bird Rides, Inc.Series C$94.7M$1.6B1.88×
Expedition Topco Llc this companySeries C$146.6M$917.3M1.06×
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 C$93.1M2017-08-29$620.7M$1.6B90%
Series C$53.5M2018-01-26$356.7M$917.3M90%
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 C$93.1M2017-08-29
    • First recorded raise — entered as Series C.
    • 3 investors on this round.
  2. Series C$53.5M2018-01-26
    • Came back fast: 5 mo vs the ~11 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 7 investors on this round.
Intelligence
2018 ~Q2
Modeled next raise · ~5mo cadence
$53.5M
Modeled next size est.range $53.5M$85.6M
0.6×
Last step-up
$357.0M/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
ADAM H. CLAMMER2 other2017-08
MATTHEW C. WILSON1 other2017-08
Registry & provenance

Expedition Topco 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
1716786
SEC CIK
2017
Incorporated
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
Pulmonx CorpOtherSeries C$143.8M$1.1Bsame sector · same stage
WMS Susquehanna Fund, L.L.C.OtherSeries C$142.4M$727.5Msame sector · same stage
Jasper Wireless IncOtherSeries C$151.2M$857.3Msame sector · same stage
Agri.CapitalOtherSeries C$140.9M$714.0Msame sector · same stage
SeatGeek, Inc.OtherSeries C$154.8M$949.4Msame sector · same stage
Nasuni CorpOtherSeries C$137.7M$735.0Msame sector · same stage
Ivanhoe Electric Inc.OtherSeries C$157.6M$1.0Bsame sector · same stage
PPH Acquisition LLCOtherSeries C$133.2M$761.8Msame 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
Cv Topco LlcOtherSeries C$1.3B87%
Mountain Topco, Inc.OtherGrowth/Late$6.5B87%
Arctic Topco, LLCOtherSeries D+$2.0B87%
Freight Topco, LlcOtherSeries D+$1.2B87%
MWR TopCo, LLCOtherSeries B$30.0M85%
Fraser Topco LLCOtherSeries B$175.4M85%
Bullwhip Topco, LlcOtherSeries D+$2.0B85%
Hermes Topco, LlcOtherSeries C$1.2B85%
Frequently asked
How much funding has Expedition Topco Llc raised?
Expedition Topco Llc has raised approximately $146.6M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Expedition Topco Llc's estimated valuation?
Provath's modeled valuation for Expedition Topco Llc is approximately $917.3M (modeled range $206.9M–$2.4B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Expedition Topco Llc at?
Expedition Topco Llc's latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Jan 26.
What does Expedition Topco Llc do and where is it based?
Expedition Topco Llc operates in the Other sector, based in SAN FRANCISCO.
Explore related

See where Expedition Topco Llc 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 Expedition Topco Llc, 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.