Diligence memo · auto-generated · as of July 2, 2026
Fathom, Inc.
Fathom, Inc. looks fair against its niche peers and is at-risk on financing cadence.
Businessfiled
Fathom, Inc. operates in AI / ML, based in OAKLAND, CA, USA; Remote. The most flexible AI meeting notetaker ever built.
Sub-sector tags: AI, B2B, Note-taking, Productivity, SaaS, ai/ml.
Capital & rounds (filed)filed
Fathom, Inc. has raised $61M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $46M on 2022-11-04.
Most recent recorded round closed around 2022-11-04.
Valuation (modeled)modeled
Provath models Fathom, Inc. at approximately $840M (range $175M–$1.6B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.44× the median modeled value of Series C AI / ML companies in 2022–2024 (18 peers) — value vs value, same stage and era. Within the normal band (144% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 14 months.
Last raise 3.7 yr ago; this sector typically re-raises about every 11 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 1.0× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 96% of AI / ML peers (2067 compared).
Modeled value ranks above 97% of those peers.
Closest niche peers: Stability Ai, Inc., Hayden AI Technologies Inc., Runway AI Inc., Protect AI, Inc., Reka AI, Inc..
Peoplefiled
5 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.