Companies · Other Technology

Flywheel Exchange Inc.

MINNEAPOLIS · Other Technology

Diligence memoA one-page analyst read on Flywheel Exchange Inc. — recommendation, valuation, rhythm, risks.
$144.1M
Total raised · real
9
Rounds
7.3×
Latest step-up
Top 3%
Sector rank · raised
Series C
Latest stage · inferred · Tue Dec 23 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Flywheel Exchange Inc. looks under-valued against its niche peers and is active 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 0.29× the median modeled value of Series C Other Technology companies in 2025–2027 (93 peers) — value vs value, same stage and era.
Active
  • Last raise 6 mo ago; this sector typically re-raises about every 13 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Other Technology

Flywheel Exchange Inc. is one of 21302 Other Technology companies tracked from MINNEAPOLIS. By capital raised it ranks among the largest (ahead of 98% 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
40
Investors (latest)
2020
Year incorporated
2025-12-23
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$250M$500M$750M$1.0BSeries A · 2017-07-01 Raised $5.0M (real) Modeled valuation $139M (est)Series A2017Series A · 2017-08-24 Raised $8.5M (real) Modeled valuation $235M (est)Series A2017Series A · 2017-08-24 Raised $6.0M (real) Modeled valuation $166M (est)Series A2017Series A · 2018-10-25 Raised $100K (real) Modeled valuation $2.8M (est)Series A2018Series B · 2020-10-28 Raised $21M (real) Modeled valuation $573M (est)Series B2020Series A · 2020-10-28 Raised $14M (real) Modeled valuation $342M (est)Series A2020Series B · 2021-08-20 Raised $21M (real) Modeled valuation $439M (est)Series B2021Series B · 2023-01-31 Raised $4.3M (real) Modeled valuation $53M (est)Series B2023Series C · 2023-05-26 Raised $50M (real) Modeled valuation $653M (est)Series C2023Series C · 2024-12-27 Raised $20M (real) Modeled valuation $161M (est)Series C2024Series C · 2025-10-31 Raised $2.3M (real) Modeled valuation $14M (est)Series C2025Series C · 2025-12-23 Raised $16M (real) Modeled valuation $98M (est)Series C2025Cumulative $169M

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$5.0M · 2017
Series A extension$8.5M · 2017
Series A extension$6.0M · 2017
Series A extension$100K · 2018
Series B$21.1M · 2020
Bridge · Series B-stage$14.1M · 2020smaller follow-on
Series B extension$21.5M · 2021
Series B extension$4.3M · 2023
Series C$50.0M · 2023
Series C extension$20.0M · 2024
Series C extension$2.3M · 2025
Series C extension$16.4M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$97.9M
Base estimate est.
$62.1M
Conservative case
$121.3M
Upside case
$109.2M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series A · modeled $138.7M · 2017-07-012017Series A · modeled $234.7M · 2017-08-24Series A · modeled $166.4M · 2017-08-24Series A · modeled $2.8M · 2018-10-25Series B · modeled $573.5M · 2020-10-28Series A · modeled $342.3M · 2020-10-28Series B · modeled $439.2M · 2021-08-20Series B · modeled $52.9M · 2023-01-31Series C · modeled $652.9M · 2023-05-26Series C · modeled $161.2M · 2024-12-27Series C · modeled $14.0M · 2025-10-31Series C · modeled $97.9M · 2025-12-232025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
76%
Survival probability
57% low · 88% high
1.35×/yr
Annual markup
1.55×/yr upside case
0.5 yr
Elapsed time used
0.5 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$17.0M/yr
Capital velocity
9.0 yr
On record since
2017
First round
12
Rounds on file
How it compares to the market

Benchmarked against 21302 companies in Other Technology. 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) 45× above median
This company$144.1M
Sector median$3.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.3× of median
This company$16.4M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 2.6× above median
This company$97.9M
Sector median$37.3M

Raised more than 98% of sector peers (real $). Modeled value above 70% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #81 of 93.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)TensorWave Inc. · Series C Raised $100.0M · modeled $740.4M (est)Mobile Money Americas Corp. · Series C Raised $175.0M · modeled $674.7M (est)Framer, Inc. · Series C Raised $162.1M · modeled $666.3M (est)Sanity, Inc. · Series C Raised $174.3M · modeled $640.7M (est)Celero Communications, Inc. · Series C Raised $138.4M · modeled $627.7M (est)Colors4Kids (01-50) LLC · Series C Raised $90.0M · modeled $624.6M (est)PDW Holdings, Inc. · Series C Raised $124.1M · modeled $608.8M (est)Vivodyne, Inc. · Series C Raised $79.7M · modeled $606.6M (est)Project Applecart LLC · Series C Raised $118.3M · modeled $603.1M (est)Cambium Biomaterials, Inc. · Series C Raised $119.7M · modeled $580.1M (est)Vumedi, Inc. · Series C Raised $82.1M · modeled $574.8M (est)Auterion Group Inc. · Series C Raised $87.7M · modeled $567.5M (est)Flywheel Exchange Inc. (this company) Raised $144.1M · modeled $97.9M (est)Flywheel Exchange Inc.
CompanyStageRaised · realValue · estvs peer med.
TensorWave Inc.Series C$100.0M$740.4M2.22×
Mobile Money Americas Corp.Series C$175.0M$674.7M2.02×
Framer, Inc.Series C$162.1M$666.3M2.00×
Sanity, Inc.Series C$174.3M$640.7M1.92×
Celero Communications, Inc.Series C$138.4M$627.7M1.88×
Colors4Kids (01-50) LLCSeries C$90.0M$624.6M1.87×
PDW Holdings, Inc.Series C$124.1M$608.8M1.83×
Vivodyne, Inc.Series C$79.7M$606.6M1.82×
Project Applecart LLCSeries C$118.3M$603.1M1.81×
Cambium Biomaterials, Inc.Series C$119.7M$580.1M1.74×
Vumedi, Inc.Series C$82.1M$574.8M1.72×
Auterion Group Inc.Series C$87.7M$567.5M1.70×
Flywheel Exchange Inc. this companySeries C$144.1M$97.9M0.29×
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$5.0M2017-07-01$22.7M$138.7M90%
Series A$8.5M2017-08-24$38.5M$234.7M90%
Series A$6.0M2017-08-24$27.3M$166.4M90%
Series A$100K2018-10-25$455K$2.8M90%
Series B$21.1M2020-10-28$117.2M$573.5M90%
Series A$14.1M2020-10-28$64.0M$342.3M90%
Series B$21.5M2021-08-20$119.3M$439.2M90%
Series B$4.3M2023-01-31$23.9M$52.9M90%
Series C$50.0M2023-05-26$333.4M$652.9M90%
Series C$20.0M2024-12-27$133.3M$161.2M90%
Series C$2.3M2025-10-31$15.0M$14.0M90%
Series C$16.4M2025-12-23$109.2M$97.9M90%
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$5.0M2017-07-01
    • First recorded raise — entered as Series A.
  2. Series A$8.5M2017-08-24
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 1.7× larger than the prior — scaling up.
    • 53 investors on this round.
  3. Series A$6.0M2017-08-24
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 40 investors on this round.
  4. Series A$100K2018-10-25
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 60.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  5. Series B$21.1M2020-10-28
    • Raised again after 24 mo — slower than the ~13 mo sector norm.
    • Round 211.0× larger than the prior — scaling up.
    • 33 investors on this round.
  6. Series A$14.1M2020-10-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 29 investors on this round.
  7. Series B$21.5M2021-08-20
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 25 investors on this round.
  8. Series B$4.3M2023-01-31
    • Raised 17 mo later, in step with the ~13 mo sector norm.
    • Round 5.0× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  9. Series C$50.0M2023-05-26
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round 11.6× larger than the prior — scaling up.
    • 24 investors on this round.
  10. Series C$20.0M2024-12-27
    • Raised 19 mo later, in step with the ~13 mo sector norm.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 57 investors on this round.
  11. Series C$2.3M2025-10-31
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round 8.9× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  12. Series C$16.4M2025-12-23
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 7.3× larger than the prior — scaling up.
    • 40 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~9mo cadence
$49.2M
Modeled next size est.range $32.0M$78.7M
7.3×
Last step-up
$17.0M/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
Paul Meister11 other2025-12
Danny J. Cunagin9 other2017-07
Troy D. Kopischke9 other2017-07
Francisco Gimenez6 other2021-08
William Blake4 other2021-08
James Olson3 other2023-01
Marijn Dekkers3 other2025-12
Jim Olson2 other2020-10
Colby Moosman1 other2025-10
Danny Cunagin1 other2021-08
Mark J. Sylvester1 other2017-07
Troy Kopischke1 other2021-08
Brian D. Wandell2020-10
Brian J. Wandell2017-07
Colby D. Moosman2024-12
Constantine G. Pantelis2025-12
Danny Joe2021-08
Devin Leake2025-12
Eliana D. Rivera Burke2020-10
Francisco D. Gimenez2020-10
Francisco J. Gimenez2023-01
Gunnar D. Schaefer2020-10
Gunnar J. Schaefer2017-07
Hooman D. Hakami2024-12
Registry & provenance

Flywheel Exchange 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
1713780
SEC CIK
2020
Incorporated
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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
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Frequently asked
How much funding has Flywheel Exchange Inc. raised?
Flywheel Exchange Inc. has raised approximately $144.1M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Flywheel Exchange Inc.'s estimated valuation?
Provath's modeled valuation for Flywheel Exchange Inc. is approximately $97.9M (modeled range $62.1M–$121.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Flywheel Exchange Inc. at?
Flywheel Exchange Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Dec 23.
What does Flywheel Exchange Inc. do and where is it based?
Flywheel Exchange Inc. operates in the Other Technology sector, based in MINNEAPOLIS.
Explore related

See where Flywheel Exchange 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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