Companies · Other Health Care

Fonar, Llc

MELVILLE · Other Health Care

Diligence memoA one-page analyst read on Fonar, Llc — recommendation, valuation, rhythm, risks.
$51.2M
Total raised · real
2
Rounds
4.0×
Latest step-up
Top 9%
Sector rank · raised
Series C
Latest stage · inferred · Tue Dec 23 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Fonar, Llc looks fair 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 health care sector profile.

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

Fair
  • Modeled value is 1.01× the median modeled value of Series C Other Health Care companies in 2025–2027 (20 peers) — value vs value, same stage and era.
  • Within the normal band (101% of peer median) for its niche.
Active
  • Last raise 6 mo ago; this sector typically re-raises about every 14 months.
  • Raising on or ahead of the sector's normal rhythm.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Fonar, Llc behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
0.5 yr record
Peak capital year was 2025 with $51.2M across 2 filings.
Market position
ahead of 92% of Other Health Care peers
Capital scale is ahead of 92% of Other Health Care peers; modeled value is above 89% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2025: $51.2M across 2 filings.
  • Largest single filing was $41.0M on 2025-12-23.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
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 Health Care

Fonar, Llc is one of 5377 Other Health Care companies tracked from MELVILLE. By capital raised it ranks among the largest (ahead of 92% 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
No revenue
Issuer revenue
Rule 506(b)
Reg D exemption
52
Investors (latest)
2025
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$125M$250M$375M$500MSeries A · 2025-12-23 Raised $10M (real) Modeled valuation $29M (est)$10M$29MSeries A2025Series C · 2025-12-23 Raised $41M (real) Modeled valuation $229M (est)$41M$229MSeries C2025+$41MCumulative $51M

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$10.2M · 2025
Series C$41.0M · 2025no Series B on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$229.0M
Base estimate est.
$148.9M
Conservative case
$284.0M
Upside case
$273.1M
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 health care sector profile. Directional, not a quoted figure.

Series A · modeled $29.0M · 2025-12-232025Series C · modeled $229.0M · 2025-12-232025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
73%
Survival probability
55% low · 85% high
1.29×/yr
Annual markup
1.48×/yr upside case
0.5 yr
Elapsed time used
0.5 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
0 mo
Avg between rounds
Capital velocity
0.5 yr
On record since
2025
First round
2
Rounds on file
How it compares to the market

Benchmarked against 5377 companies in Other Health Care. 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) 21× above median
This company$51.2M
Sector median$2.4M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.9× of median
This company$41.0M
Sector median$45.9M
Modeled value — vs sector median (estimate, all stages) 10× above median
This company$229.0M
Sector median$22.1M

Raised more than 92% of sector peers (real $). Modeled value above 89% 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 #10 of 20.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)RESTOR3D, Inc. · Series C Raised $239.2M · modeled $522.3M (est)ByHeart, Inc. · Series C Raised $378.4M · modeled $493.6M (est)SpyGlassPharma, Inc. · Series C Raised $134.8M · modeled $485.1M (est)VantAI Holdings, Inc. · Series C Raised $86.3M · modeled $475.6M (est)BioIntelliSense, Inc. · Series C Raised $140.0M · modeled $329.0M (est)ObjectiveHealth, Inc. · Series C Raised $68.0M · modeled $321.2M (est)VentureMed Group, Inc. · Series C Raised $59.8M · modeled $288.2M (est)Exo Imaging, Inc. · Series C Raised $169.6M · modeled $284.6M (est)InspireMD, Inc. · Series C Raised $117.2M · modeled $248.3M (est)MicroTransponder, Inc. · Series C Raised $117.7M · modeled $223.3M (est)Fourth Edge LLC · Series C Raised $119.7M · modeled $222.0M (est)Fonar, Llc (this company) Raised $51.2M · modeled $229.0M (est)Fonar, Llc
CompanyStageRaised · realValue · estvs peer med.
RESTOR3D, Inc.Series C$239.2M$522.3M2.31×
ByHeart, Inc.Series C$378.4M$493.6M2.18×
SpyGlassPharma, Inc.Series C$134.8M$485.1M2.14×
VantAI Holdings, Inc.Series C$86.3M$475.6M2.10×
BioIntelliSense, Inc.Series C$140.0M$329.0M1.45×
ObjectiveHealth, Inc.Series C$68.0M$321.2M1.42×
VentureMed Group, Inc.Series C$59.8M$288.2M1.27×
Exo Imaging, Inc.Series C$169.6M$284.6M1.26×
InspireMD, Inc.Series C$117.2M$248.3M1.10×
Fonar, Llc this companySeries C$51.2M$229.0M1.01×
MicroTransponder, Inc.Series C$117.7M$223.3M0.99×
Fourth Edge LLCSeries C$119.7M$222.0M0.98×
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$10.2M2025-12-23$46.5M$29.0M90%
Series C$41.0M2025-12-23$273.1M$229.0M90%
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$10.2M2025-12-23
    • First recorded raise — entered as Series A.
    • 31 investors on this round.
  2. Series C$41.0M2025-12-23
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 4.0× larger than the prior — scaling up.
    • 52 investors on this round.
Intelligence
Modeled next raise
$122.9M
Modeled next size est.range $79.9M$196.6M
4.0×
Last step-up
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
Timothy Damadian2025-12
Registry & provenance

Fonar, Llc 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
2090446
SEC CIK
2025
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.

CompanySectorStageRaised · realValue · estWhy similar
Forentis Fund, LPOther Health CareSeries C$50.0M$244.4Msame sector · same stage
Healthcare Ventures Fund IV, LPOther Health CareSeries C$50.0M$244.4Msame sector · same stage
Dental Implant Holdings, LLCOther Health CareSeries C$53.7M$228.6Msame sector · same stage
VentureMed Group, Inc.Other Health CareSeries C$59.8M$288.2Msame sector · same stage
TW-NHME Holdings Corp.Other Health CareSeries C$64.3M$171.5Msame sector · same stage
ObjectiveHealth, Inc.Other Health CareSeries C$68.0M$321.2Msame sector · same stage
Calypso Medical Technologies IncOther Health CareSeries C$69.5M$171.5Msame sector · same stage
Cytrellis Biosystems, Inc.Other Health CareSeries C$82.7M$182.1Msame sector · same stage
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
Folsom & Forge LLCOther Health CareSeed$38.6M86%
FPPS Holdings, LLCOther Health CareSeries A$7.2M85%
FSM Equity Holdings, LLCOther Health CarePre-Seed$4.2M84%
Novir, LlcOther Health CareSeed$16.2M84%
Somnair, Inc.Other Health CareSeries A$14.7M83%
Despierta LlcOther Health CareSeed$9.3M83%
Calidar, Inc.Other Health CarePre-Seed$3.8M83%
Fovea Investment Holdings, LLCOther Health CareGrowth/Late$8.7B83%
Frequently asked
How much funding has Fonar, Llc raised?
Fonar, Llc has raised approximately $51.2M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Fonar, Llc's estimated valuation?
Provath's modeled valuation for Fonar, Llc is approximately $229.0M (modeled range $148.9M–$284.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Fonar, Llc at?
Fonar, Llc's latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Dec 23.
What does Fonar, Llc do and where is it based?
Fonar, Llc operates in the Other Health Care sector, based in MELVILLE.
Explore related

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

Is this your company?

If you work at Fonar, Llc, claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.