Diligence memo · auto-generated · as of July 2, 2026
Heap Inc.
Heap Inc. has raised $149M over 3 rounds; too few niche peers to rank its valuation yet.
Businessfiled
Heap Inc. operates in SaaS / Software, based in San Francisco, WA, USA; San Francisco, CA, USA. Captures user interactions with no code to generate analytics.
Sub-sector tags: SaaS, Analytics.
Capital & rounds (filed)filed
Heap Inc. has raised $149M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).
Largest single filing: $113M on 2021-11-24.
Most recent recorded round closed around 2021-11-24.
Valuation (modeled)modeled
Provath models Heap Inc. at approximately $2.8B (range $638M–$5.2B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 36 months.
Last raise 4.6 yr ago; this sector typically re-raises about every 22 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 4.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 99% of SaaS / Software peers (381 compared).
Modeled value ranks above 99% of those peers.
Closest niche peers: Snapdocs, Inc., Auto Saas Holdings Llc.
Peoplefiled
8 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.