Companies · Crypto / Web3

Hedera Hashgraph, LLC

RICHARDSON · Crypto / Web3 · refined from filed group “Other Technology · https://hedera.com/

Diligence memoA one-page analyst read on Hedera Hashgraph, LLC — recommendation, valuation, rhythm, risks.
$800.6M
Total raised · real
2
Rounds
8.4×
Latest step-up
Top 2%
Sector rank · raised
Growth/Late
Latest stage · inferred · Mon Feb 18 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Hedera Hashgraph, LLC has raised $801M over 2 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the crypto/web3 sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Dormant
  • Last raise 7.4 yr ago; this sector typically re-raises about every 7 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Hedera Hashgraph, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
7.9 yr record
Peak capital year was 2019 with $696.2M across 1 filings.
Market position
ahead of 99% of Crypto / Web3 peers
Capital scale is ahead of 99% of Crypto / Web3 peers; modeled value is above 100% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Some evidence
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • Capital program peaked in 2019: $696.2M across 1 filings.
  • Largest single filing was $696.2M on 2019-02-18.
  • Filing rows sum to $883.2M, while canonical raised total is $800.6M; likely amendments/superseded rows are mixed into the detail view.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
  • Canonical filtering should be tightened before using row-level totals for diligence.
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 Crypto / Web3

Hedera Hashgraph, LLC is one of 196 Crypto / Web3 companies tracked from RICHARDSON. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Hedera is the trusted platform for building fast, secure, and compliant decentralized applications.

Hedera is the trusted platform for building fast, secure, and compliant decentralized applications. The distributed ledger platform built for the digital economy, chosen by the world’s leading institutions. Hedera operates on a permissioned model where the world’s leading institutions use the technology and operate the network. Archax and Hedera Advance Tokenized Securities with Real-Time Streaming Cash Flows Archax is advancing tokenized securities on Hedera with real-time streaming cash flows — enabling near second-by-second USDC interest payments that follow assets directly to investors’ wallets. Hedera Council Welcomes Accenture to Advance Trusted Infrastructure for Enterprise AI Accenture has joined Hedera Council to help build transparent, scalable infrastructure for enterprise AI — supporting trusted agentic solutions across financial services, government, and large enterprises. Post-Quantum Cryptography and Blockchain: Where the Industry Stands Hedera is preparing for post-quantum security, as new standards arrive and the network charts a phased migration path. McLaren Racing Joins Hedera Council to Accelerate Digital Innovation McLaren Racing has joined Hedera Council, bri

ai/mlcrypto/web3fintechmedia/content
Find Hedera online

Trades publicly as Hedera.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
34
Investors (latest)
2017
Year incorporated
2019-02-18
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$12.5B$25.0B$37.5B$50.0BSeries D+ · 2018-07-31 Raised $104M (real) Modeled valuation $4.0B (est)$104M$4.0BSeries D+2018Series C · 2018-07-31 Raised $83M (real) Modeled valuation $3.1B (est)$83M$3.1BSeries C2018Growth/Late · 2019-02-18 Raised $696M (real) Modeled valuation $27.4B (est)$696M$27.4BGrowth/Late2019+$83M+$696MCumulative $883M

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+$104.5M · 2018
Bridge · Series D+-stage$82.6M · 2018smaller follow-on
Growth/Late$696.2M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 43%.

Modeled valuation trajectory
$27.4B
Base estimate est.
$4.5B
Conservative case
$49.3B
Upside case
$7.0B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the crypto/web3 sector profile. Directional, not a quoted figure.

Series D+ · modeled $4.0B · 2018-07-312018Series C · modeled $3.1B · 2018-07-31Growth/Late · modeled $27.4B · 2019-02-182019
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
74%
Survival probability
64% low · 80% high
1.32×/yr
Annual markup
1.44×/yr upside case
6.0 yr
Elapsed time used
7.4 yr actual, capped for stale marks
crypto/web3
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
3 mo
Avg between rounds
$1.4B/yr
Capital velocity
7.9 yr
On record since
2018
First round
3
Rounds on file
How it compares to the market

Benchmarked against 196 companies in Crypto / Web3. 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) 229× above median
This company$800.6M
Sector median$3.5M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 1.4× above median
This company$696.2M
Sector median$486.2M
Modeled value — vs sector median (estimate, all stages) 517× above median
This company$27.4B
Sector median$53.0M

Raised more than 99% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) 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.

Not enough valued peers in this cohort to chart positioning.

CompanyStageRaised · realValue · estvs peer med.
Hedera Hashgraph, LLC this companyGrowth/Late$800.6M$27.4B1.31×
Circle International Bermuda LtdGrowth/Late$486.2M$14.4B0.69×
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+$104.5M2018-07-31$870.6M$4.0B90%
Series C$82.6M2018-07-31$550.6M$3.1B90%
Growth/Late$696.2M2019-02-18$7.0B$27.4B90%
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+$104.5M2018-07-31
    • First recorded raise — entered as Series D+.
    • 985 investors on this round.
  2. Series C$82.6M2018-07-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 43 investors on this round.
  3. Growth/Late$696.2M2019-02-18
    • Raised 7 mo later, in step with the ~7 mo sector norm.
    • Round 8.4× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 34 investors on this round.
Intelligence
2019 ~Q2
Modeled next raise · ~3mo cadence
$2.1B
Modeled next size est.range $1.4B$3.3B
8.4×
Last step-up
$1.4B/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
Leemon Baird2018-07
Mance Harmon2018-07
Registry & provenance

Hedera Hashgraph, LLC 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
1747972
SEC CIK
2017
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
ConsenSys Software Inc.Crypto / Web3Growth/Late$600.8M$9.9Bsame sector · same stage
Circle International Bermuda LtdCrypto / Web3Growth/Late$486.2M$14.4Bsame sector · same stage
Forward Industries, Inc.Crypto / Web3Growth/Late$1.7B$15.2Bsame sector · same stage
Payward, Inc.Crypto / Web3Series D+$703.3M$1.8Bsame sector
Bluefin Topco, LlcCrypto / Web3Series D+$700.0M$14.7Bsame sector
Dapper Labs Inc.Crypto / Web3Series D+$668.4M$106.6Msame sector
The Sun ExchangeCrypto / Web3Growth/Late$1.6M$62.9Msame sector · same stage
Blockdaemon Inc.Crypto / Web3Series D+$412.4M$666.2Msame sector
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
Theya
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Thera
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Alt-X
Building the best venue for private markets exposure.
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Blockdaemon Inc.
Trusted by 400+ institutions to launch, secure, and scale digital asset products across custody, tokenization, staking, payments, and settlement.
Crypto / Web3Series D+$666.2M72%
Alpaca, Inc.
API-first stock and crypto brokerage platform
Crypto / Web3Seed$2.4M72%
Tinfoil
Encrypted AI with verifiable privacy
AI / ML72%
goodfin
Building the next generation of wealth
Fintech72%
GovernGPT
The RFP Platform Asset Managers Adopt
Fintech71%
Frequently asked
How much funding has Hedera Hashgraph, LLC raised?
Hedera Hashgraph, LLC has raised approximately $800.6M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Hedera Hashgraph, LLC's estimated valuation?
Provath's modeled valuation for Hedera Hashgraph, LLC is approximately $27.4B (modeled range $4.5B–$49.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Hedera Hashgraph, LLC at?
Hedera Hashgraph, LLC's latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Mon Feb 18.
What does Hedera Hashgraph, LLC do and where is it based?
Hedera Hashgraph, LLC operates in the Crypto / Web3 sector, based in RICHARDSON. Hedera is the trusted platform for building fast, secure, and compliant decentralized applications.
Explore related

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