Companies · Software / Tech

First Democracy Technology Inc.

VANCOUVER · Software / Tech · refined from filed group “Other

Diligence memoA one-page analyst read on First Democracy Technology Inc. — recommendation, valuation, rhythm, risks.
$450K
Total raised · real
3
Rounds
2.5×
Latest step-up
Top 86%
Sector rank · raised
Pre-Seed
Latest stage · inferred · Thu Jun 13 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

First Democracy Technology Inc. looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

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

Under-valued
  • Modeled value is 0.40× the median modeled value of Pre-Seed Software / Tech companies in 2022–2024 (288 peers) — value vs value, same stage and era.
Quiet
  • Last raise 2.0 yr ago; this sector typically re-raises about every 13 months.
  • Slightly overdue versus sector 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 Software / Tech

First Democracy Technology Inc. is one of 3920 Software / Tech companies tracked from VANCOUVER. By capital raised it ranks in the long tail (ahead of 15% of sector peers), and in the long tail 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
1
Investors (latest)
2019
Year incorporated
2024-06-13
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$500K$1.0M$1.5M$2.0MPre-Seed · 2022-06-10 Raised $100K (real) Modeled valuation $1.5M (est)$100K$1.5MPre-Seed2022Pre-Seed · 2023-04-18 Raised $100K (real) Modeled valuation $929K (est)$100K$929KPre-Seed2023Pre-Seed · 2024-06-13 Raised $250K (real) Modeled valuation $1.2M (est)$250K$1.2MPre-Seed2024+$100K+$250KCumulative $450K

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
Pre-Seed$100K · 2022
Pre-Seed extension$100K · 2023
Pre-Seed extension$250K · 2024

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$1.2M
Base estimate est.
$163K
Conservative case
$4.2M
Upside case
$1.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Pre-Seeda round under $1.0M). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $1.5M · 2022-06-102022Pre-Seed · modeled $929K · 2023-04-18Pre-Seed · modeled $1.2M · 2024-06-132024
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
29%
Survival probability
12% low · 54% high
1.72×/yr
Annual markup
2.33×/yr upside case
2.0 yr
Elapsed time used
2.0 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$224K/yr
Capital velocity
4.1 yr
On record since
2022
First round
3
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. 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) 0.1× of median
This company$450K
Sector median$4.6M
Latest round — vs other Pre-Seed rounds in sector (real $, this stage) 0.7× of median
This company$250K
Sector median$350K
Modeled value — vs sector median (estimate, all stages) 0.0× of median
This company$1.2M
Sector median$36.6M

Raised more than 15% of sector peers (real $). Modeled value above 6% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Pre-Seed) 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 #235 of 288.

This companyCohort peer
$1.0M$10.0M$100.0M$100K$1.0M$10.0MCapital raised (log)Nivelo Tech Inc. · Pre-Seed Raised $1.0M · modeled $17.5M (est)Iris Technology, Inc. · Pre-Seed Raised $1.0M · modeled $16.9M (est)Enki Labs, Inc. · Pre-Seed Raised $1.5M · modeled $14.4M (est)Basketball Training Systems, Inc. · Pre-Seed Raised $900K · modeled $14.4M (est)Digital Fabrication Workshop, Inc. · Pre-Seed Raised $1.0M · modeled $14.1M (est)PureCode Software, Inc. · Pre-Seed Raised $1000K · modeled $13.2M (est)PWA Labs, Inc. · Pre-Seed Raised $945K · modeled $12.7M (est)Departure Labs Inc · Pre-Seed Raised $675K · modeled $12.6M (est)Assistiv Labs, Inc. · Pre-Seed Raised $855K · modeled $12.6M (est)Amprius Technologies, Inc. · Pre-Seed Raised $1.0M · modeled $12.6M (est)Klutch Technologies Inc. · Pre-Seed Raised $840K · modeled $12.3M (est)Taco Labs Inc. · Pre-Seed Raised $752K · modeled $12.2M (est)First Democracy Technology Inc. (this company) Raised $450K · modeled $1.2M (est)First Democracy Technology Inc.
CompanyStageRaised · realValue · estvs peer med.
Nivelo Tech Inc.Pre-Seed$1.0M$17.5M5.69×
Iris Technology, Inc.Pre-Seed$1.0M$16.9M5.49×
Enki Labs, Inc.Pre-Seed$1.5M$14.4M4.67×
Basketball Training Systems, Inc.Pre-Seed$900K$14.4M4.67×
Digital Fabrication Workshop, Inc.Pre-Seed$1.0M$14.1M4.57×
PureCode Software, Inc.Pre-Seed$1000K$13.2M4.29×
PWA Labs, Inc.Pre-Seed$945K$12.7M4.12×
Departure Labs IncPre-Seed$675K$12.6M4.10×
Assistiv Labs, Inc.Pre-Seed$855K$12.6M4.10×
Amprius Technologies, Inc.Pre-Seed$1.0M$12.6M4.08×
Klutch Technologies Inc.Pre-Seed$840K$12.3M4.00×
Taco Labs Inc.Pre-Seed$752K$12.2M3.97×
First Democracy Technology Inc. this companyPre-Seed$450K$1.2M0.40×
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.
Pre-Seed$100K2022-06-10$556K$1.5M90%
Pre-Seed$100K2023-04-18$556K$929K90%
Pre-Seed$250K2024-06-13$1.4M$1.2M90%
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. Pre-Seed$100K2022-06-10
    • First recorded raise — entered as Pre-Seed.
    • 2 investors on this round.
  2. Pre-Seed$100K2023-04-18
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  3. Pre-Seed$250K2024-06-13
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • 1 investor on this round.
Intelligence
2025 ~Q2
Modeled next raise · ~12mo cadence
$625K
Modeled next size est.range $406K$1.0M
2.5×
Last step-up
$224K/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
Jonathan Ricci1 other2022-06
Ed Mosqueda2022-06
Simran Kang2022-06
Registry & provenance

First Democracy Technology Inc. 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
2027386
SEC CIK
2019
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.

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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
Democracy Live, Inc.Other TechnologyPre-Seed$31.8M83%
Democracy Earth FoundationComputersSeed$49.0M80%
FirstHive Tech CorpSoftware / TechSeries A$5.0M76%
New Form Digital, LLCSoftware / TechSeries B$548.2M76%
Initial State Technologies, Inc.Software / TechSeed$68.1M75%
Decision Technologies CorpSoftware / TechSeed$105.5M75%
VoterCircle, Inc.Other TechnologySeed$36.8M75%
Formic Technologies, Inc.Software / TechSeries A$132.3M75%
Frequently asked
How much funding has First Democracy Technology Inc. raised?
First Democracy Technology Inc. has raised approximately $450K in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is First Democracy Technology Inc.'s estimated valuation?
Provath's modeled valuation for First Democracy Technology Inc. is approximately $1.2M (modeled range $163K–$4.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is First Democracy Technology Inc. at?
First Democracy Technology Inc.'s latest modeled financing stage is Pre-Seed. Its most recent recorded round closed around Thu Jun 13.
What does First Democracy Technology Inc. do and where is it based?
First Democracy Technology Inc. operates in the Software / Tech sector, based in VANCOUVER.
Explore related

See where First Democracy Technology Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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