Diligence memo · auto-generated · as of July 2, 2026
FIPPEX Operations LLC
FIPPEX Operations LLC looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
FIPPEX Operations LLC operates in Other Technology, based in CHICAGO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
FIPPEX Operations LLC has raised $2.4M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Seed (a $1.0M–$4.0M round).
Largest single filing: $2.0M on 2010-04-12.
Most recent recorded round closed around 2010-04-15.
Valuation (modeled)modeled
Provath models FIPPEX Operations LLC at approximately $15M (range $397K–$120M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.28× the median modeled value of Seed Other Technology companies in 2010–2012 (822 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 0 months.
Last raise 16.2 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 4.4× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 44% of Other Technology peers (21302 compared).
Modeled value ranks above 31% of those peers.
Closest niche peers: HFN, Inc., Rave Wireless Inc, Friend Media Technology Systems Ltd, Paice Llc, Talko Inc..
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.