Companies · Software / Tech

Heatworks Technologies, Inc.

MT. PLEASANT · Software / Tech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Heatworks Technologies, Inc. — recommendation, valuation, rhythm, risks.
$15.2M
Total raised · real
9
Rounds
4.4×
Latest step-up
Top 26%
Sector rank · raised
Series A
Latest stage · inferred · Tue Dec 21 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Heatworks Technologies, 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 technology 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 0.22× the median modeled value of Series A Software / Tech companies in 2019–2021 (278 peers) — value vs value, same stage and era.
Dormant
  • Last raise 4.5 yr ago; this sector typically re-raises about every 13 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 Software / Tech

Heatworks Technologies, Inc. is one of 3920 Software / Tech companies tracked from MT. PLEASANT. By capital raised it ranks in the upper tier (ahead of 75% of sector peers), and mid-pack 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
1
Investors (latest)
2016
Year incorporated
2021-12-21
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$50M$100M$150M$200MSeries A · 2016-05-23 Raised $5.0M (real) Modeled valuation $139M (est)Series A2016Series A · 2017-03-23 Raised $1.4M (real) Modeled valuation $40M (est)Series A2017Seed · 2017-07-14 Raised $1.1M (real) Modeled valuation $37M (est)Seed2017Series A · 2017-07-14 Raised $1.1M (real) Modeled valuation $31M (est)Series A2017Series A · 2017-09-22 Raised $3.0M (real) Modeled valuation $83M (est)Series A2017Seed · 2017-09-22 Raised $2.0M (real) Modeled valuation $68M (est)Seed2017Series A · 2018-04-27 Raised $250K (real) Modeled valuation $6.9M (est)Series A2018Series A · 2018-06-04 Raised $1.0M (real) Modeled valuation $28M (est)Series A2018Series A · 2018-08-30 Raised $1.0M (real) Modeled valuation $28M (est)Series A2018Series A · 2020-08-07 Raised $450K (real) Modeled valuation $12M (est)Series A2020Series A · 2021-12-21 Raised $2.0M (real) Modeled valuation $31M (est)Series A2021Cumulative $18M

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$5.0M · 2016
Series A extension$1.4M · 2017
Bridge · Series A-stage$1.1M · 2017smaller follow-on
Series A extension$1.1M · 2017
Series A extension$3.0M · 2017
Bridge · Series A-stage$2.0M · 2017smaller follow-on
Series A extension$250K · 2018
Series A extension$1.0M · 2018
Series A extension$1.0M · 2018
Series A extension$450K · 2020
Series A extension$2.0M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$30.6M
Base estimate est.
$2.7M
Conservative case
$118.5M
Upside case
$9.1M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series A · modeled $138.7M · 2016-05-232016Series A · modeled $39.6M · 2017-03-23Seed · modeled $37.5M · 2017-07-14Series A · modeled $30.5M · 2017-07-14Series A · modeled $83.2M · 2017-09-22Seed · modeled $68.1M · 2017-09-22Series A · modeled $6.9M · 2018-04-27Series A · modeled $27.7M · 2018-06-04Series A · modeled $27.7M · 2018-08-30Series A · modeled $12.0M · 2020-08-07Series A · modeled $30.6M · 2021-12-212021
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
29% low · 74% high
1.50×/yr
Annual markup
1.89×/yr upside case
4.5 yr
Elapsed time used
4.5 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$2.7M/yr
Capital velocity
10.1 yr
On record since
2016
First round
11
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. 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) 3.3× above median
This company$15.2M
Sector median$4.6M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.4× of median
This company$2.0M
Sector median$5.6M
Modeled value — vs sector median (estimate, all stages) 0.8× of median
This company$30.6M
Sector median$36.6M

Raised more than 75% of sector peers (real $). Modeled value above 48% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #259 of 278.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Digital Hands, LLC · Series A Raised $15.0M · modeled $416.1M (est)Ophelius Labs Inc · Series A Raised $15.0M · modeled $416.1M (est)StreetLight Data Inc. · Series A Raised $40.5M · modeled $416.1M (est)Unlimited Labs Inc. · Series A Raised $23.9M · modeled $416.1M (est)Numerated Growth Technologies, Inc. · Series A Raised $27.5M · modeled $416.1M (est)Carevive Systems, Inc. · Series A Raised $22.2M · modeled $414.9M (est)Lyra Technologies, Inc. · Series A Raised $19.5M · modeled $414.5M (est)Panther Labs Inc. · Series A Raised $20.4M · modeled $405.9M (est)Ascent Technologies, Inc. · Series A Raised $22.1M · modeled $405.0M (est)Weyland Tech, Inc. · Series A Raised $15.3M · modeled $396.3M (est)Transparent Financial Systems, Inc. · Series A Raised $14.2M · modeled $393.9M (est)Racktop Systems, Inc. · Series A Raised $14.9M · modeled $385.3M (est)Heatworks Technologies, Inc. (this company) Raised $15.2M · modeled $30.6M (est)Heatworks Technologies, Inc.
CompanyStageRaised · realValue · estvs peer med.
Digital Hands, LLCSeries A$15.0M$416.1M3.06×
Ophelius Labs IncSeries A$15.0M$416.1M3.06×
StreetLight Data Inc.Series A$40.5M$416.1M3.06×
Unlimited Labs Inc.Series A$23.9M$416.1M3.06×
Numerated Growth Technologies, Inc.Series A$27.5M$416.1M3.06×
Carevive Systems, Inc.Series A$22.2M$414.9M3.05×
Lyra Technologies, Inc.Series A$19.5M$414.5M3.04×
Panther Labs Inc.Series A$20.4M$405.9M2.98×
Ascent Technologies, Inc.Series A$22.1M$405.0M2.97×
Weyland Tech, Inc.Series A$15.3M$396.3M2.91×
Transparent Financial Systems, Inc.Series A$14.2M$393.9M2.89×
Racktop Systems, Inc.Series A$14.9M$385.3M2.83×
Heatworks Technologies, Inc. this companySeries A$15.2M$30.6M0.22×
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$5.0M2016-05-23$22.7M$138.7M85%
Series A$1.4M2017-03-23$6.5M$39.6M90%
Seed$1.1M2017-07-14$5.5M$37.5M90%
Series A$1.1M2017-07-14$5.0M$30.5M90%
Series A$3.0M2017-09-22$13.6M$83.2M90%
Seed$2.0M2017-09-22$10.0M$68.1M90%
Series A$250K2018-04-27$1.1M$6.9M90%
Series A$1.0M2018-06-04$4.5M$27.7M90%
Series A$1.0M2018-08-30$4.5M$27.7M90%
Series A$450K2020-08-07$2.0M$12.0M90%
Series A$2.0M2021-12-21$9.1M$30.6M90%
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$5.0M2016-05-23
    • First recorded raise — entered as Series A.
    • 1 investor on this round.
  2. Series A$1.4M2017-03-23
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round 3.5× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  3. Seed$1.1M2017-07-14
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
  4. Series A$1.1M2017-07-14
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
  5. Series A$3.0M2017-09-22
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 2.7× larger than the prior — scaling up.
    • 2 investors on this round.
  6. Seed$2.0M2017-09-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  7. Series A$250K2018-04-27
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 8.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  8. Series A$1.0M2018-06-04
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round 4.0× larger than the prior — scaling up.
    • 2 investors on this round.
  9. Series A$1.0M2018-08-30
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 2 investors on this round.
  10. Series A$450K2020-08-07
    • Raised again after 23 mo — slower than the ~13 mo sector norm.
    • Round 2.2× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  11. Series A$2.0M2021-12-21
    • Raised 16 mo later, in step with the ~13 mo sector norm.
    • Round 4.4× larger than the prior — scaling up.
    • 1 investor on this round.
Intelligence
2022 ~Q3
Modeled next raise · ~7mo cadence
$6.0M
Modeled next size est.range $3.9M$9.6M
4.4×
Last step-up
$2.7M/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
Alonso M. Galvan1 other2020-08
Haskell Crocker2021-12
Haskell M Crocker2016-05
Haskell Michael Crocker2017-03
Jeremiah Callahan2021-12
Jeremiah M Callahan2016-05
Jeremiah Michael Callahan2017-03
Thomas M Fitzpatrick2016-05
Thomas Michael Fitzpatrick2017-03
Van M. Morris2018-04
Van Morris2021-12
William Finn2021-12
Registry & provenance

Heatworks Technologies, 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
1676245
SEC CIK
2016
Incorporated
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
Matador Technologies Inc.Software / TechSeries A$15.3M$33.4Msame sector · same stage
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Rilian Technologies, Inc.Software / TechSeries A$15.5M$31.2Msame sector · same stage
Jot Labs Inc.Software / TechSeries A$15.7M$31.5Msame sector · same stage
Trio Labs, Inc.Software / TechSeries A$15.8M$37.3Msame sector · same stage
Thunderbolt Technology, Inc.Software / TechSeries A$16.0M$23.7Msame sector · same stage
Alpha Ledger Technologies, Inc.Software / TechSeries A$14.2M$30.5Msame sector · same stage
Cursus Technologies Inc.Software / TechSeries A$17.2M$28.7Msame 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
Mindworks Technologies, Inc.Software / TechSeed$7.2M86%
HS Labs, Inc.Software / TechPre-Seed$19.0M85%
Dashworks Technologies, Inc.Software / TechSeed$32.7M85%
Heat Safety Solutions, Llc Series 1Other TechnologySeries A$22.5M84%
Hot Tech Industries LLCSoftware / TechSeed$11.2M84%
Metaworks Platforms, Inc.Software / TechPre-Seed$752K84%
HeatGenie, Inc.Other TechnologySeries A$241.3M84%
Clockwork Technologies Inc.Software / TechSeed$22.1M83%
Frequently asked
How much funding has Heatworks Technologies, Inc. raised?
Heatworks Technologies, Inc. has raised approximately $15.2M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Heatworks Technologies, Inc.'s estimated valuation?
Provath's modeled valuation for Heatworks Technologies, Inc. is approximately $30.6M (modeled range $2.7M–$118.5M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Heatworks Technologies, Inc. at?
Heatworks Technologies, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Tue Dec 21.
What does Heatworks Technologies, Inc. do and where is it based?
Heatworks Technologies, Inc. operates in the Software / Tech sector, based in MT. PLEASANT.
Explore related

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