Diligence memo · auto-generated · as of July 2, 2026
HAPPE Spine, LLC
HAPPE Spine, LLC looks under-valued against its niche peers and is quiet on financing cadence.
Businessfiled
HAPPE Spine, LLC operates in Other Health Care, based in Grand Rapids.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
HAPPE Spine, LLC has raised $8.4M in disclosed capital across 4 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $5.3M on 2021-08-13.
Most recent recorded round closed around 2024-07-31.
Valuation (modeled)modeled
Provath models HAPPE Spine, LLC at approximately $10M (range $2.8M–$21M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.27× the median modeled value of Series A Other Health Care companies in 2022–2024 (196 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 13 months.
Last raise 23 mo ago; this sector typically re-raises about every 14 months.
Slightly overdue versus sector cadence.
The last round was 5.5× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 73% of Other Health Care peers (5377 compared).
Modeled value ranks above 34% of those peers.
Closest niche peers: CareHarmony, Inc., Dragonfly Endoscopy Inc., NuvoAir Holdings, Inc., Post Acute Recovery, Inc., Micro Interventional Devices, Inc..
Peoplefiled
9 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.