Diligence memo · auto-generated · as of July 2, 2026
First Mode Holdings, Inc.
First Mode Holdings, Inc. has raised $1.2B over 2 rounds; too few niche peers to rank its valuation yet.
Businessfiled
First Mode Holdings, Inc. operates in Other Energy, based in SEATTLE. First Mode develops and manufactures decarbonization solutions for heavy industry partners dedicated to the clean energy future — for people and planet.
Sub-sector tags: climate/cleantech.
Capital & rounds (filed)filed
First Mode Holdings, Inc. has raised $1.2B in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Growth/Late (a round over $400M).
Largest single filing: $1.2B on 2023-01-05.
Most recent recorded round closed around 2023-01-05.
Valuation (modeled)modeled
Provath models First Mode Holdings, Inc. at approximately $12.6B (range $8.8B–$18.3B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 15 months.
Last raise 3.5 yr ago; this sector typically re-raises about every 12 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 139.3× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 100% of Other Energy peers (2049 compared).
Modeled value ranks above 100% of those peers.
Closest niche peers: Generate Capital, Inc..
Peoplefiled
10 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.