Companies · Other Energy

Gradient Resources Inc.

RENO · Other Energy

Diligence memoA one-page analyst read on Gradient Resources Inc. — recommendation, valuation, rhythm, risks.
$388.8M
Total raised · real
15
Rounds
0.4×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Jan 23 2015 00:00:00 GMT+0000 (Coordinated Universal Time)

Gradient Resources Inc. looks under-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. Valuation uses the energy 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 0.08× the median modeled value of Series D+ Other Energy companies in 2013–2015 (12 peers) — value vs value, same stage and era.
Dormant
  • Last raise 11.4 yr ago; this sector typically re-raises about every 12 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 Energy

Gradient Resources Inc. is one of 2048 Other Energy companies tracked from RENO. By capital raised it ranks among the largest (ahead of 99% 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
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 D+ · 2010-01-26 Raised $106M (real) Modeled valuation $1.3B (est)Series D+2010Series D+ · 2011-01-31 Raised $38M (real) Modeled valuation $458M (est)Series D+2011Series D+ · 2011-10-31 Raised $18M (real) Modeled valuation $217M (est)Series D+2011Series D+ · 2011-11-29 Raised $63M (real) Modeled valuation $759M (est)Series D+2011Series D+ · 2012-09-28 Raised $4.1M (real) Modeled valuation $49M (est)Series D+2012Series D+ · 2012-12-21 Raised $5.1M (real) Modeled valuation $62M (est)Series D+2012Series D+ · 2013-01-11 Raised $3.1M (real) Modeled valuation $37M (est)Series D+2013Series D+ · 2013-01-23 Raised $70M (real) Modeled valuation $849M (est)Series D+2013Series D+ · 2013-01-24 Raised $5.1M (real) Modeled valuation $61M (est)Series D+2013Series D+ · 2013-04-08 Raised $4.1M (real) Modeled valuation $49M (est)Series D+2013Series D+ · 2013-05-31 Raised $14M (real) Modeled valuation $171M (est)Series D+2013Series D+ · 2013-08-29 Raised $20M (real) Modeled valuation $247M (est)Series D+2013Series D+ · 2014-02-21 Raised $5.4M (real) Modeled valuation $65M (est)Series D+2014Series D+ · 2014-08-25 Raised $22M (real) Modeled valuation $268M (est)Series D+2014Series D+ · 2015-01-23 Raised $10M (real) Modeled valuation $121M (est)Series D+2015Cumulative $389M

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 D+$105.6M · 2010
Series D+ extension$38.0M · 2011
Series D+ extension$18.0M · 2011
Series D+ extension$63.0M · 2011
Series D+ extension$4.1M · 2012
Series D+ extension$5.1M · 2012
Series D+ extension$3.1M · 2013
Series D+ extension$70.4M · 2013
Series D+ extension$5.1M · 2013
Series D+ extension$4.1M · 2013
Series D+ extension$14.2M · 2013
Series D+ extension$20.5M · 2013
Series D+ extension$5.4M · 2014
Series D+ extension$22.3M · 2014
Series D+ extension$10.0M · 2015

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$120.5M
Base estimate est.
$53.8M
Conservative case
$264.0M
Upside case
$83.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Series D+ · modeled $1.3B · 2010-01-262010Series D+ · modeled $458.0M · 2011-01-31Series D+ · modeled $216.9M · 2011-10-31Series D+ · modeled $759.3M · 2011-11-29Series D+ · modeled $49.1M · 2012-09-28Series D+ · modeled $61.5M · 2012-12-21Series D+ · modeled $36.8M · 2013-01-11Series D+ · modeled $848.7M · 2013-01-23Series D+ · modeled $61.2M · 2013-01-24Series D+ · modeled $49.1M · 2013-04-08Series D+ · modeled $171.5M · 2013-05-31Series D+ · modeled $246.8M · 2013-08-29Series D+ · modeled $64.6M · 2014-02-21Series D+ · modeled $268.4M · 2014-08-25Series D+ · modeled $120.5M · 2015-01-232015
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
81%
Survival probability
65% low · 89% high
1.10×/yr
Annual markup
1.24×/yr upside case
6.0 yr
Elapsed time used
11.4 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
4 mo
Avg between rounds
$77.9M/yr
Capital velocity
16.4 yr
On record since
2010
First round
15
Rounds on file
How it compares to the market

Benchmarked against 2048 companies in Other Energy. 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) 114× above median
This company$388.8M
Sector median$3.4M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.1× of median
This company$10.0M
Sector median$105.3M
Modeled value — vs sector median (estimate, all stages) 7.1× above median
This company$120.5M
Sector median$17.0M

Raised more than 99% of sector peers (real $). Modeled value above 85% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #11 of 12.

This companyCohort peer
$100K$1.0M$10.0M$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Mrc Global Inc. · Series D+ Raised $363.0M · modeled $4.4B (est)Greig Companies, Inc. · Series D+ Raised $250.0M · modeled $3.0B (est)Par Petroleum Corp/Co · Series D+ Raised $200.0M · modeled $2.4B (est)Ftai Energy Partners Llc · Series D+ Raised $191.0M · modeled $2.3B (est)Renewable Energy Trust Capital, Inc. · Series D+ Raised $256.8M · modeled $1.8B (est)POET Grain, LLC · Series D+ Raised $284.0M · modeled $1.7B (est)OFS Energy Fund III (Q), LP · Series D+ Raised $122.1M · modeled $1.5B (est)LJ Energy Services Holdings, LLC · Series D+ Raised $101.4M · modeled $1.2B (est)Wgl Holdings Inc · Series D+ Raised $449.0M · modeled $590.5M (est)Solarreserve, Inc. · Series D+ Raised $457.4M · modeled $233.7M (est)Aventine Renewable Energy Holdings Inc · Series D+ Raised $193.4M · modeled $1.4M (est)Gradient Resources Inc. (this company) Raised $388.8M · modeled $120.5M (est)Gradient Resources Inc.
CompanyStageRaised · realValue · estvs peer med.
Mrc Global Inc.Series D+$363.0M$4.4B2.76×
Greig Companies, Inc.Series D+$250.0M$3.0B1.90×
Par Petroleum Corp/CoSeries D+$200.0M$2.4B1.52×
Ftai Energy Partners LlcSeries D+$191.0M$2.3B1.45×
Renewable Energy Trust Capital, Inc.Series D+$256.8M$1.8B1.16×
POET Grain, LLCSeries D+$284.0M$1.7B1.07×
OFS Energy Fund III (Q), LPSeries D+$122.1M$1.5B0.93×
LJ Energy Services Holdings, LLCSeries D+$101.4M$1.2B0.77×
Wgl Holdings IncSeries D+$449.0M$590.5M0.37×
Solarreserve, Inc.Series D+$457.4M$233.7M0.15×
Gradient Resources Inc. this companySeries D+$388.8M$120.5M0.08×
Aventine Renewable Energy Holdings IncSeries D+$193.4M$1.4M0.00×
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 D+$105.6M2010-01-26$880.1M$1.3B90%
Series D+$38.0M2011-01-31$316.7M$458.0M90%
Series D+$18.0M2011-10-31$150.0M$216.9M90%
Series D+$63.0M2011-11-29$525.0M$759.3M90%
Series D+$4.1M2012-09-28$34.0M$49.1M90%
Series D+$5.1M2012-12-21$42.5M$61.5M90%
Series D+$3.1M2013-01-11$25.5M$36.8M90%
Series D+$70.4M2013-01-23$586.9M$848.7M90%
Series D+$5.1M2013-01-24$42.3M$61.2M90%
Series D+$4.1M2013-04-08$33.9M$49.1M90%
Series D+$14.2M2013-05-31$118.6M$171.5M90%
Series D+$20.5M2013-08-29$170.7M$246.8M90%
Series D+$5.4M2014-02-21$44.7M$64.6M90%
Series D+$22.3M2014-08-25$185.6M$268.4M90%
Series D+$10.0M2015-01-23$83.3M$120.5M90%
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 D+$105.6M2010-01-26
    • First recorded raise — entered as Series D+.
  2. Series D+$38.0M2011-01-31
    • Raised 12 mo later, in step with the ~12 mo sector norm.
    • Round 2.8× smaller than the prior — bridge or down round.
  3. Series D+$18.0M2011-10-31
    • Raised 9 mo later, in step with the ~12 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
  4. Series D+$63.0M2011-11-29
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
  5. Series D+$4.1M2012-09-28
    • Raised 10 mo later, in step with the ~12 mo sector norm.
    • Round 15.5× smaller than the prior — bridge or down round.
  6. Series D+$5.1M2012-12-21
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round roughly the size of the prior one.
  7. Series D+$3.1M2013-01-11
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
  8. Series D+$70.4M2013-01-23
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 23.0× larger than the prior — scaling up.
  9. Series D+$5.1M2013-01-24
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 13.9× smaller than the prior — bridge or down round.
  10. Series D+$4.1M2013-04-08
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round roughly the size of the prior one.
  11. Series D+$14.2M2013-05-31
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
  12. Series D+$20.5M2013-08-29
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
  13. Series D+$5.4M2014-02-21
    • Came back fast: 6 mo vs the ~12 mo sector norm.
    • Round 3.8× smaller than the prior — bridge or down round.
  14. Series D+$22.3M2014-08-25
    • Came back fast: 6 mo vs the ~12 mo sector norm.
    • Round 4.2× larger than the prior — scaling up.
  15. Series D+$10.0M2015-01-23
    • Came back fast: 5 mo vs the ~12 mo sector norm.
    • Round 2.2× smaller than the prior — bridge or down round.
Intelligence
2015 ~Q2
Modeled next raise · ~4mo cadence
$10.0M
Modeled next size est.range $10.0M$16.0M
0.4×
Last step-up
$77.9M/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
JOHN SULLIVAN12 other2010-01
Richard Cohen7 other2011-01
Michael Hamilton4 other2011-01
David Lloyd3 other2011-10
Fred Buckman2 other2011-10
Adam Carte1 other2014-02
David Owens1 other2010-01
Jim Atkinson1 other2011-11
Riaz Siddiqi1 other2013-01
Richard Atkinson1 other2011-01
Barney Rush2011-01
Bill Fraser2010-01
Bob Warburton2011-01
Craig Mataczynski2011-01
Jim Winters2010-01
Kevin McSpadden2010-01
Linda Miller2010-01
Paul Hemsath2014-08
Paul Winters2010-01
Robert Warburton2010-01
Scott Mackin2010-01
Stan Marks2013-01
Todd Bright2010-01
Todd Follett2010-01
Registry & provenance

Gradient Resources 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
879218
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
BrightSource Energy IncOther EnergySeries D+$505.8M$110.8Msame sector · same stage
Fulcrum Bioenergy IncOther EnergySeries D+$255.1M$60.0Msame sector · same stage
Terrestrial Energy Inc.Other EnergySeries B$131.0M$112.6Mnetwork1 shared operator · same sector
Harvest Power, Inc.Other EnergySeries D+$220.7M$72.3Msame sector · same stage
Beamreach Solar, Inc.Other EnergySeries D+$199.9M$97.1Msame sector · same stage
General Fusion Inc.Other EnergySeries B$56.4M$1.4Mnetwork1 shared operator · same sector
All England Lawn Tennis Ground plcOtherSeries D+$219.1M$15.2Mnetwork1 shared operator · same stage
Isun, Inc.Other EnergySeries B$37.3M$17.7Mnetwork1 shared operator · same sector
Frequently asked
How much funding has Gradient Resources Inc. raised?
Gradient Resources Inc. has raised approximately $388.8M in disclosed capital across 15 recorded financing rounds, aggregated from public filings.
What is Gradient Resources Inc.'s estimated valuation?
Provath's modeled valuation for Gradient Resources Inc. is approximately $120.5M (modeled range $53.8M–$264.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Gradient Resources Inc. at?
Gradient Resources Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Jan 23.
What does Gradient Resources Inc. do and where is it based?
Gradient Resources Inc. operates in the Other Energy sector, based in RENO.
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