Companies · Medical Devices

ExplORer Surgical Corp.

CHICAGO · Medical Devices · refined from filed group “Other Technology

Diligence memoA one-page analyst read on ExplORer Surgical Corp. — recommendation, valuation, rhythm, risks.
$11.2M
Total raised · real
3
Rounds
0.8×
Latest step-up
Top 22%
Sector rank · raised
Series A
Latest stage · inferred · Wed Mar 31 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

ExplORer Surgical Corp. 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 medical devices 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 0.93× the median modeled value of Series A Medical Devices companies in 2019–2021 (17 peers) — value vs value, same stage and era.
  • Within the normal band (93% of peer median) for its niche.
Dormant
  • Last raise 5.3 yr ago; this sector typically re-raises about every 16 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 Medical Devices

ExplORer Surgical Corp. is one of 233 Medical Devices companies tracked from CHICAGO. By capital raised it ranks in the upper tier (ahead of 79% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

medical-devices

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
30
Investors (latest)
2021-03-31
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$50M$100M$150M$200MSeries A · 2017-08-23 Raised $4.3M (real) Modeled valuation $103M (est)$4.3M$103MSeries A2017Series A · 2019-01-24 Raised $4.4M (real) Modeled valuation $106M (est)$4.4M$106MSeries A2019Seed · 2019-01-24 Raised $3.4M (real) Modeled valuation $100M (est)$3.4M$100MSeed2019Series A · 2021-03-31 Raised $2.6M (real) Modeled valuation $46M (est)$2.6M$46MSeries A2021+$4.4M+$3.4M+$2.6MCumulative $15M

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$4.3M · 2017
Series A extension$4.4M · 2019
Bridge · Series A-stage$3.4M · 2019smaller follow-on
Series A extension$2.6M · 2021

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
$45.8M
Base estimate est.
$3.1M
Conservative case
$209.6M
Upside case
$11.6M
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 medical devices sector profile. Directional, not a quoted figure.

Series A · modeled $103.0M · 2017-08-232017Series A · modeled $106.3M · 2019-01-24Seed · modeled $99.8M · 2019-01-24Series A · modeled $45.8M · 2021-03-312021
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
50%
Survival probability
27% low · 68% high
1.49×/yr
Annual markup
1.87×/yr upside case
5.3 yr
Elapsed time used
5.3 yr actual, capped for stale marks
medical devices
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$3.1M/yr
Capital velocity
8.9 yr
On record since
2017
First round
4
Rounds on file
How it compares to the market

Benchmarked against 233 companies in Medical Devices. 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) 4.4× above median
This company$11.2M
Sector median$2.6M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.6× of median
This company$2.6M
Sector median$4.6M
Modeled value — vs sector median (estimate, all stages) 3.0× above median
This company$45.8M
Sector median$15.4M

Raised more than 79% of sector peers (real $). Modeled value above 76% 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 #10 of 17.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Reliant Immune Diagnostics, Inc. · Series A Raised $10.9M · modeled $262.4M (est)Pristine Surgical LLC · Series A Raised $14.2M · modeled $201.4M (est)Predictive Health Diagnostics Co. · Series A Raised $8.3M · modeled $154.7M (est)Juno Diagnostics, Inc. · Series A Raised $6.3M · modeled $107.8M (est)Allotrope Medical Inc. · Series A Raised $5.0M · modeled $93.5M (est)Surgical Innovation Associates Inc. · Series A Raised $8.9M · modeled $86.8M (est)CAIRA Surgical Corp · Series A Raised $5.2M · modeled $85.3M (est)Sandstone Diagnostics Inc · Series A Raised $14.0M · modeled $52.0M (est)Ideal Implant Inc · Series A Raised $16.8M · modeled $49.3M (est)Nanomedical Diagnostics, Inc. · Series A Raised $12.0M · modeled $37.9M (est)Precise Light Surgical, Inc. · Series A Raised $14.2M · modeled $35.2M (est)ExplORer Surgical Corp. (this company) Raised $11.2M · modeled $45.8M (est)ExplORer Surgical Corp.
CompanyStageRaised · realValue · estvs peer med.
Reliant Immune Diagnostics, Inc.Series A$10.9M$262.4M5.32×
Pristine Surgical LLCSeries A$14.2M$201.4M4.08×
Predictive Health Diagnostics Co.Series A$8.3M$154.7M3.13×
Juno Diagnostics, Inc.Series A$6.3M$107.8M2.18×
Allotrope Medical Inc.Series A$5.0M$93.5M1.90×
Surgical Innovation Associates Inc.Series A$8.9M$86.8M1.76×
CAIRA Surgical CorpSeries A$5.2M$85.3M1.73×
Sandstone Diagnostics IncSeries A$14.0M$52.0M1.05×
Ideal Implant IncSeries A$16.8M$49.3M1.00×
ExplORer Surgical Corp. this companySeries A$11.2M$45.8M0.93×
Nanomedical Diagnostics, Inc.Series A$12.0M$37.9M0.77×
Precise Light Surgical, Inc.Series A$14.2M$35.2M0.71×
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$4.3M2017-08-23$19.4M$103.0M90%
Series A$4.4M2019-01-24$20.0M$106.3M90%
Seed$3.4M2019-01-24$16.8M$99.8M90%
Series A$2.6M2021-03-31$11.6M$45.8M90%
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$4.3M2017-08-23
    • First recorded raise — entered as Series A.
    • 31 investors on this round.
  2. Series A$4.4M2019-01-24
    • Raised 17 mo later, in step with the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • 21 investors on this round.
  3. Seed$3.4M2019-01-24
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 13 investors on this round.
  4. Series A$2.6M2021-03-31
    • Raised again after 26 mo — slower than the ~16 mo sector norm.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 30 investors on this round.
Intelligence
2022 ~Q2
Modeled next raise · ~14mo cadence
$2.6M
Modeled next size est.range $2.6M$4.1M
0.8×
Last step-up
$3.1M/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
Ned Scheetz7 other2017-08
Immanuel Thangaraj5 other2017-08
Denis Harrington2 other2021-03
Kurt Azarbarzin2 other2017-08
Kristine Johnson1 other2019-01
Anne Sissel2017-08
Eugene Fine2019-01
Jennifer Fried2017-08
Kris Johnson2021-03
Tom Knight2017-08
Registry & provenance

ExplORer Surgical Corp. 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
1716004
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
Moichor IncMedical DevicesSeries A$11.3M$57.6Msame sector · same stage
Minute Molecular Diagnostics, Inc.Medical DevicesSeries A$11.3M$35.0Msame sector · same stage
SafeOp Surgical, Inc.Medical DevicesSeries A$10.9M$136.4Msame sector · same stage
Tally Surgical, Inc.Medical DevicesSeries A$11.6M$38.8Msame sector · same stage
Reliant Immune Diagnostics, Inc.Medical DevicesSeries A$10.9M$262.4Msame sector · same stage
Nanomedical Diagnostics, Inc.Medical DevicesSeries A$12.0M$37.9Msame sector · same stage
Fulcrum Implant Systems, Inc.Medical DevicesSeries A$10.5M$253.4Msame sector · same stage
Emerge Diagnostics, IncMedical DevicesSeries A$12.0M$688Ksame 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
Navigate Surgical Technologies Inc.Medical DevicesPre-Seed$3.8M88%
New View Surgical, Inc.Medical DevicesSeries A$70.7M83%
Surgical Safety Technologies Inc.Medical DevicesSeries B$70.3M83%
EDGe Surgical, Inc.Medical DevicesSeries A$3.6M83%
Explorer Enterprises, LLCOther TechnologyPre-Seed$5.5M83%
OBP Surgical CorpMedical DevicesSeed$38.3M82%
CAIRA Surgical CorpMedical DevicesSeries A$85.3M82%
IC Surgical, Inc.Medical DevicesPre-Seed$5.5M82%
Frequently asked
How much funding has ExplORer Surgical Corp. raised?
ExplORer Surgical Corp. has raised approximately $11.2M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is ExplORer Surgical Corp.'s estimated valuation?
Provath's modeled valuation for ExplORer Surgical Corp. is approximately $45.8M (modeled range $3.1M–$209.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is ExplORer Surgical Corp. at?
ExplORer Surgical Corp.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Mar 31.
What does ExplORer Surgical Corp. do and where is it based?
ExplORer Surgical Corp. operates in the Medical Devices sector, based in CHICAGO.
Explore related

See where ExplORer Surgical Corp. 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 ExplORer Surgical Corp., 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.