Companies · Other

Function Inc.

Paxinos · Other

Diligence memoA one-page analyst read on Function Inc. — recommendation, valuation, rhythm, risks.
$102.8M
Total raised · real
3
Rounds
2.9×
Latest step-up
Top 5%
Sector rank · raised
Series C
Latest stage · inferred · Wed Dec 23 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Function Inc. looks over-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page.

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

Over-valued
  • Modeled value is 1.64× the median modeled value of Series C Other companies in 2019–2021 (190 peers) — value vs value, same stage and era.
Dormant
  • Last raise 5.5 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal 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 Other

Function Inc. is one of 25015 Other companies tracked from Paxinos. By capital raised it ranks among the largest (ahead of 96% of sector peers), and among the largest 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
4
Investors (latest)
2020-12-23
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$500M$1.0B$1.5B$2.0BSeries A · 2017-02-22 Raised $12M (real) Modeled valuation $181M (est)$12M$181MSeries A2017Series A · 2019-03-26 Raised $5.0M (real) Modeled valuation $76M (est)$5.0M$76MSeries A2019Series B · 2020-12-23 Raised $30M (real) Modeled valuation $443M (est)$30M$443MSeries B2020Series C · 2020-12-23 Raised $86M (real) Modeled valuation $1.3B (est)$86M$1.3BSeries C2020+$5.0M+$30M+$86MCumulative $133M

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$12.0M · 2017
Series A extension$5.0M · 2019
Series B$30.0M · 2020
Series C$85.8M · 2020

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
$1.3B
Base estimate est.
$331.7M
Conservative case
$3.3B
Upside case
$571.9M
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. Directional, not a quoted figure.

Series A · modeled $181.2M · 2017-02-222017Series A · modeled $76.3M · 2019-03-26Series B · modeled $443.0M · 2020-12-23Series C · modeled $1.3B · 2020-12-232020
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
78%
Survival probability
58% low · 90% high
1.22×/yr
Annual markup
1.40×/yr upside case
5.5 yr
Elapsed time used
5.5 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
15 mo
Avg between rounds
$26.8M/yr
Capital velocity
9.4 yr
On record since
2017
First round
4
Rounds on file
How it compares to the market

Benchmarked against 25015 companies in Other. 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) 50× above median
This company$102.8M
Sector median$2.0M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.7× above median
This company$85.8M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 76× above median
This company$1.3B
Sector median$17.7M

Raised more than 96% of sector peers (real $). Modeled value above 97% 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 #15 of 190.

This companyCohort peer
$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Lonnie Ray Williams Jr Trust · Series C Raised $100.0M · modeled $1.7B (est)Ault Life Sciences, Inc. · Series C Raised $100.0M · modeled $1.7B (est)Watchtower Topco, LLC · Series C Raised $99.7M · modeled $1.7B (est)Watchtower Management Holdco, LLC · Series C Raised $99.2M · modeled $1.7B (est)Alphaeon 1 LLC · Series C Raised $96.8M · modeled $1.7B (est)Jushi Acquisition Corp. · Series C Raised $92.3M · modeled $1.6B (est)Celebrands, LLC · Series C Raised $89.0M · modeled $1.5B (est)Dashlane, Inc. · Series C Raised $129.2M · modeled $1.5B (est)HES Facilities Holdings, LLC · Series C Raised $84.3M · modeled $1.4B (est)Surterra Holdings, Inc. · Series C Raised $98.0M · modeled $1.4B (est)Carmax Inc · Series C Raised $98.2M · modeled $1.4B (est)PEX Management Aggregator, LLC · Series C Raised $87.8M · modeled $1.4B (est)Function Inc. (this company) Raised $102.8M · modeled $1.3B (est)Function Inc.
CompanyStageRaised · realValue · estvs peer med.
Lonnie Ray Williams Jr TrustSeries C$100.0M$1.7B2.10×
Ault Life Sciences, Inc.Series C$100.0M$1.7B2.10×
Watchtower Topco, LLCSeries C$99.7M$1.7B2.09×
Watchtower Management Holdco, LLCSeries C$99.2M$1.7B2.08×
Alphaeon 1 LLCSeries C$96.8M$1.7B2.03×
Jushi Acquisition Corp.Series C$92.3M$1.6B1.94×
Celebrands, LLCSeries C$89.0M$1.5B1.81×
Dashlane, Inc.Series C$129.2M$1.5B1.78×
HES Facilities Holdings, LLCSeries C$84.3M$1.4B1.77×
Surterra Holdings, Inc.Series C$98.0M$1.4B1.74×
Carmax IncSeries C$98.2M$1.4B1.72×
PEX Management Aggregator, LLCSeries C$87.8M$1.4B1.69×
Function Inc. this companySeries C$102.8M$1.3B1.64×
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$12.0M2017-02-22$54.4M$181.2M90%
Series A$5.0M2019-03-26$22.9M$76.3M90%
Series B$30.0M2020-12-23$166.7M$443.0M90%
Series C$85.8M2020-12-23$571.9M$1.3B90%
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$12.0M2017-02-22
    • First recorded raise — entered as Series A.
    • 37 investors on this round.
  2. Series A$5.0M2019-03-26
    • Raised again after 25 mo — slower than the ~11 mo sector norm.
    • Round 2.4× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  3. Series B$30.0M2020-12-23
    • Raised again after 21 mo — slower than the ~11 mo sector norm.
    • Round 5.9× larger than the prior — scaling up.
    • 4 investors on this round.
  4. Series C$85.8M2020-12-23
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.9× larger than the prior — scaling up.
    • 4 investors on this round.
Intelligence
2022 ~Q2
Modeled next raise · ~15mo cadence
$245.3M
Modeled next size est.range $159.4M$392.5M
2.9×
Last step-up
$26.8M/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
Nikhil Thukral1 other2020-12
Alexandra Papazian2020-12
Avik Pramanik2020-12
Josh Maciejewski2020-12
Joshua Maciejewski2017-02
Zahir Dossa2017-02
Registry & provenance

Function 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
1699597
SEC CIK
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
Insight Pharmaceuticals CorpOtherSeries C$102.9M$1.1Bsame sector · same stage
Uplift, Inc.OtherSeries C$105.2M$1.4Bsame sector · same stage
Odysea Aquarium LLCOtherSeries C$100.2M$941.2Msame sector · same stage
C3 Jian IncOtherSeries C$105.5M$1.0Bsame sector · same stage
MetroMile, Inc.OtherSeries C$100.0M$1.5Bsame sector · same stage
Alera Group Ultimate Holdings, LLCOtherSeries C$100.0M$993.4Msame sector · same stage
Ault Life Sciences, Inc.OtherSeries C$100.0M$1.7Bsame sector · same stage
Blockvest LLCOtherSeries C$100.0M$1.7Bsame 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
Function(x) Inc.OtherSeries B$166.1M90%
USEFULL Inc.OtherSeries A$27.1M84%
Open Function Group Inc.Other TechnologyPre-Seed$7.5M84%
SI Inc.OtherSeed$15.0M83%
Wait What Inc.OtherSeries A$141.5M80%
BizScout Inc.OtherSeries A$23.8M80%
Frank, IncOtherSeed$30.1M79%
QUO Inc./DEOtherSeed$4.6M79%
Frequently asked
How much funding has Function Inc. raised?
Function Inc. has raised approximately $102.8M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Function Inc.'s estimated valuation?
Provath's modeled valuation for Function Inc. is approximately $1.3B (modeled range $331.7M–$3.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Function Inc. at?
Function Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Wed Dec 23.
What does Function Inc. do and where is it based?
Function Inc. operates in the Other sector, based in Paxinos.
Explore related

See where Function 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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