Companies · Software / Tech

FSG Digital Inc.

LAS VEGAS · Software / Tech · refined from filed group “Other

Diligence memoA one-page analyst read on FSG Digital Inc. — recommendation, valuation, rhythm, risks.
$4.5M
Total raised · real
3
Rounds
0.5×
Latest step-up
Top 50%
Sector rank · raised
Seed
Latest stage · inferred · Fri May 24 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

FSG Digital 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 0.29× the median modeled value of Seed Software / Tech companies in 2022–2024 (387 peers) — value vs value, same stage and era.
Quiet
  • Last raise 2.1 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

FSG Digital Inc. is one of 3920 Software / Tech companies tracked from LAS VEGAS. By capital raised it ranks mid-pack (ahead of 51% 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
10
Investors (latest)
2022
Year incorporated
2024-05-24
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$13M$25M$38M$50MSeed · 2022-01-17 Raised $1.6M (real) Modeled valuation $27M (est)$1.6M$27MSeed2022Seed · 2023-03-22 Raised $1.9M (real) Modeled valuation $18M (est)$1.9M$18MSeed2023Seed · 2024-05-24 Raised $900K (real) Modeled valuation $4.8M (est)$900K$4.8MSeed2024+$1.9M+$900KCumulative $4.5M

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
Seed$1.6M · 2022
Seed extension$1.9M · 2023
Seed extension$900K · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$4.8M
Base estimate est.
$794K
Conservative case
$13.1M
Upside case
$4.5M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $26.9M · 2022-01-172022Seed · modeled $18.0M · 2023-03-22Seed · modeled $4.8M · 2024-05-242024
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
39%
Survival probability
18% low · 61% high
1.61×/yr
Annual markup
2.11×/yr upside case
2.1 yr
Elapsed time used
2.1 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$1.9M/yr
Capital velocity
4.5 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) 1.0× of median
This company$4.5M
Sector median$4.6M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.5× of median
This company$900K
Sector median$1.9M
Modeled value — vs sector median (estimate, all stages) 0.1× of median
This company$4.8M
Sector median$36.6M

Raised more than 51% of sector peers (real $). Modeled value above 16% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (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 #357 of 387.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0MCapital raised (log)SkyBell Technologies, Inc. · Seed Raised $4.8M · modeled $64.2M (est)BuyerAssist.io, Inc. · Seed Raised $5.7M · modeled $60.3M (est)Adaptive Surface Technologies, Inc. · Seed Raised $3.8M · modeled $59.5M (est)Abstract Labs, Inc. · Seed Raised $3.9M · modeled $57.1M (est)Elixir Lab Usa Inc. · Seed Raised $3.9M · modeled $56.9M (est)Grounded Technologies, Inc. · Seed Raised $3.5M · modeled $56.8M (est)Sticky Technologies, Inc./DE · Seed Raised $3.6M · modeled $54.9M (est)Urban Shipper Technology Inc. · Seed Raised $4.9M · modeled $54.2M (est)Rabbot Technologies Ltd · Seed Raised $3.8M · modeled $53.5M (est)Multisig Labs, Inc. · Seed Raised $3.8M · modeled $53.3M (est)Smartcare Software, Inc. · Seed Raised $3.5M · modeled $50.1M (est)Determinate Systems, Inc. · Seed Raised $3.5M · modeled $49.8M (est)FSG Digital Inc. (this company) Raised $4.5M · modeled $4.8M (est)FSG Digital Inc.
CompanyStageRaised · realValue · estvs peer med.
SkyBell Technologies, Inc.Seed$4.8M$64.2M3.92×
BuyerAssist.io, Inc.Seed$5.7M$60.3M3.68×
Adaptive Surface Technologies, Inc.Seed$3.8M$59.5M3.63×
Abstract Labs, Inc.Seed$3.9M$57.1M3.49×
Elixir Lab Usa Inc.Seed$3.9M$56.9M3.48×
Grounded Technologies, Inc.Seed$3.5M$56.8M3.47×
Sticky Technologies, Inc./DESeed$3.6M$54.9M3.35×
Urban Shipper Technology Inc.Seed$4.9M$54.2M3.31×
Rabbot Technologies LtdSeed$3.8M$53.5M3.27×
Multisig Labs, Inc.Seed$3.8M$53.3M3.25×
Smartcare Software, Inc.Seed$3.5M$50.1M3.06×
Determinate Systems, Inc.Seed$3.5M$49.8M3.04×
FSG Digital Inc. this companySeed$4.5M$4.8M0.29×
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.
Seed$1.6M2022-01-17$8.3M$26.9M90%
Seed$1.9M2023-03-22$9.7M$18.0M90%
Seed$900K2024-05-24$4.5M$4.8M90%
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. Seed$1.6M2022-01-17
    • First recorded raise — entered as Seed.
    • 6 investors on this round.
  2. Seed$1.9M2023-03-22
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 13 investors on this round.
  3. Seed$900K2024-05-24
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
    • 10 investors on this round.
Intelligence
2025 ~Q3
Modeled next raise · ~14mo cadence
$900K
Modeled next size est.range $900K$1.4M
0.5×
Last step-up
$1.9M/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
Seth Schorr5 other2022-01
Jeffrey Fine3 other2024-05
Lloyd Danzig2024-05
Registry & provenance

FSG Digital 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
1910974
SEC CIK
2022
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
InfraSight Software CorpSoftware / TechSeed$4.5M$3.4Msame sector · same stage
Den Technologies Inc.Software / TechSeed$4.5M$6.1Msame sector · same stage
Replika Software LLCSoftware / TechSeed$4.6M$5.0Msame sector · same stage
Galaxy Labs, LLCSoftware / TechSeed$4.6M$4.7Msame sector · same stage
Covie Systems, Inc.Software / TechSeed$4.6M$4.4Msame sector · same stage
Modelwise Technologies Inc.Software / TechSeed$4.3M$3.1Msame sector · same stage
Centaur Analytics, Inc.Software / TechSeed$4.7M$5.5Msame sector · same stage
IronCore Labs, Inc.Software / TechSeed$4.3M$2.8Msame 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
FSM Technologies, LLCSoftware / TechSeries A$282.7M80%
FSLogix, Inc.Other TechnologySeries A$253.4M80%
FNL Technologies, Inc.Software / TechSeries A$110.6M78%
FPG Inc.Other TechnologySeries A$180.6M78%
Rilian Technologies, Inc.Software / TechSeries A$31.2M78%
Devolver Digital, Inc.Software / TechSeries B$47.9M78%
Bardog Technologies, Inc.Software / TechPre-Seed$14.8M77%
Lumin Digital, Inc.Software / TechSeries D+$198.5M77%
Frequently asked
How much funding has FSG Digital Inc. raised?
FSG Digital Inc. has raised approximately $4.5M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is FSG Digital Inc.'s estimated valuation?
Provath's modeled valuation for FSG Digital Inc. is approximately $4.8M (modeled range $794K–$13.1M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is FSG Digital Inc. at?
FSG Digital Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Fri May 24.
What does FSG Digital Inc. do and where is it based?
FSG Digital Inc. operates in the Software / Tech sector, based in LAS VEGAS.
Explore related

See where FSG Digital 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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