Diligence memo · auto-generated · as of July 2, 2026
Heart Test Laboratories, Inc.
Heart Test Laboratories, Inc. looks under-valued against its niche peers and is at-risk on financing cadence.
Businessfiled
Heart Test Laboratories, Inc. operates in Other Health Care, based in SOUTHLAKE.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Heart Test Laboratories, Inc. has raised $35M in disclosed capital across 13 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $7.0M on 2016-07-01.
Most recent recorded round closed around 2023-11-16.
Valuation (modeled)modeled
Provath models Heart Test Laboratories, Inc. at approximately $5.6M (range $1.2M–$14M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.15× the median modeled value of Series A Other Health Care companies in 2022–2024 (196 peers) — value vs value, same stage and era. Issuer reports $0–$1M revenue while modeled below niche peers.
Financing rhythm & timingmixed
Historic cadence: a new round about every 14 months.
Last raise 2.6 yr ago; this sector typically re-raises about every 14 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round was 1.7× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 90% of Other Health Care peers (5377 compared).
Modeled value ranks above 23% of those peers.
Closest niche peers: CareHarmony, Inc., Dragonfly Endoscopy Inc., NuvoAir Holdings, Inc., Post Acute Recovery, Inc., Micro Interventional Devices, Inc..
Peoplefiled
21 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.