Companies · Biotechnology

Humacyte, Inc.

DURHAM · Biotechnology

Diligence memoA one-page analyst read on Humacyte, Inc. — recommendation, valuation, rhythm, risks.
$274.8M
Total raised · real
3
Rounds
2.0×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Mon Jun 25 2018 00:00:00 GMT+0000 (Coordinated Universal Time)

Humacyte, Inc. looks fair 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 biotech sector profile.

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

Fair
  • Modeled value is 1.41× the median modeled value of Series D+ Biotechnology companies in 2016–2018 (13 peers) — value vs value, same stage and era.
  • Within the normal band (141% of peer median) for its niche.
Dormant
  • Last raise 8.0 yr ago; this sector typically re-raises about every 14 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 Biotechnology

Humacyte, Inc. is one of 4291 Biotechnology companies tracked from DURHAM. By capital raised it ranks among the largest (ahead of 98% 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
1
Investors (latest)
2018-06-25
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$2.5B$5.0B$7.5B$10.0BSeries A · 2007-10-01 Raised $7.0M (real) Modeled valuation $253M (est)Series A2007Series C · 2007-10-01 Raised $50M (real) Modeled valuation $2.0B (est)Series C2007Series B · 2007-10-01 Raised $22M (real) Modeled valuation $873M (est)Series B2007Series B · 2007-10-01 Raised $37M (real) Modeled valuation $1.5B (est)Series B2007Series A · 2007-10-01 Raised $12M (real) Modeled valuation $434M (est)Series A2007Series C · 2018-02-23 Raised $75M (real) Modeled valuation $3.1B (est)Series C2018Series D+ · 2018-06-25 Raised $150M (real) Modeled valuation $6.2B (est)Series D+2018+$50M+$22M+$37M+$12M+$75M+$150MCumulative $353M

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$7.0M · 2007
Series C$49.8M · 2007no Series B on file
Bridge · Series C-stage$22.0M · 2007smaller follow-on
Bridge · Series C-stage$37.3M · 2007smaller follow-on
Bridge · Series C-stage$12.0M · 2007smaller follow-on
Series C extension$75.0M · 2018
Series D+$150.0M · 2018

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, 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
$6.2B
Base estimate est.
$680.0M
Conservative case
$13.5B
Upside case
$1.3B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series A · modeled $253.1M · 2007-10-012007Series C · modeled $2.0B · 2007-10-01Series B · modeled $873.2M · 2007-10-01Series B · modeled $1.5B · 2007-10-01Series A · modeled $433.8M · 2007-10-01Series C · modeled $3.1B · 2018-02-23Series D+ · modeled $6.2B · 2018-06-252018
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
68%
Survival probability
54% low · 75% high
1.39×/yr
Annual markup
1.56×/yr upside case
6.0 yr
Elapsed time used
8.0 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
21 mo
Avg between rounds
$25.6M/yr
Capital velocity
18.8 yr
On record since
2007
First round
7
Rounds on file
How it compares to the market

Benchmarked against 4291 companies in Biotechnology. 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) 38× above median
This company$274.8M
Sector median$7.2M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.2× above median
This company$150.0M
Sector median$120.0M
Modeled value — vs sector median (estimate, all stages) 96× above median
This company$6.2B
Sector median$64.2M

Raised more than 98% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #2 of 13.

This companyCohort peer
$1.0B$10.0B$100.0B$10.0M$100.0M$1.0BCapital raised (log)Guardant Health, Inc. · Series D+ Raised $500.0M · modeled $13.2B (est)Atreca, Inc. · Series D+ Raised $222.2M · modeled $5.2B (est)Semma Therapeutics, Inc. · Series D+ Raised $129.3M · modeled $4.7B (est)Braeburn Pharmaceuticals, Inc. · Series D+ Raised $110.0M · modeled $4.5B (est)Schrodinger, Inc. · Series D+ Raised $159.8M · modeled $4.4B (est)Synthego Corp · Series D+ Raised $155.7M · modeled $4.4B (est)Neon Therapeutics, Inc. · Series D+ Raised $106.0M · modeled $4.4B (est)Rubius Therapeutics, Inc. · Series D+ Raised $216.2M · modeled $4.2B (est)Allakos Inc. · Series D+ Raised $128.1M · modeled $4.1B (est)Unity Biotechnology, Inc. · Series D+ Raised $208.6M · modeled $2.3B (est)Edwards Lifesciences Corp · Series D+ Raised $307.2M · modeled $1.4B (est)Humacyte, Inc. (this company) Raised $274.8M · modeled $6.2B (est)Humacyte, Inc.
CompanyStageRaised · realValue · estvs peer med.
Guardant Health, Inc.Series D+$500.0M$13.2B3.02×
Humacyte, Inc. this companySeries D+$274.8M$6.2B1.41×
Atreca, Inc.Series D+$222.2M$5.2B1.18×
Semma Therapeutics, Inc.Series D+$129.3M$4.7B1.07×
Braeburn Pharmaceuticals, Inc.Series D+$110.0M$4.5B1.04×
Schrodinger, Inc.Series D+$159.8M$4.4B1.01×
Synthego CorpSeries D+$155.7M$4.4B1.00×
Neon Therapeutics, Inc.Series D+$106.0M$4.4B1.00×
Rubius Therapeutics, Inc.Series D+$216.2M$4.2B0.95×
Allakos Inc.Series D+$128.1M$4.1B0.94×
Unity Biotechnology, Inc.Series D+$208.6M$2.3B0.52×
Edwards Lifesciences CorpSeries D+$307.2M$1.4B0.33×
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$7.0M2007-10-01$31.8M$253.1M85%
Series C$49.8M2007-10-01$331.7M$2.0B85%
Series B$22.0M2007-10-01$122.2M$873.2M85%
Series B$37.3M2007-10-01$207.0M$1.5B85%
Series A$12.0M2007-10-01$54.5M$433.8M85%
Series C$75.0M2018-02-23$500.0M$3.1B90%
Series D+$150.0M2018-06-25$1.3B$6.2B90%
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$7.0M2007-10-01
    • First recorded raise — entered as Series A.
    • 1 investor on this round.
  2. Series C$49.8M2007-10-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 7.1× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 6 investors on this round.
  3. Series B$22.0M2007-10-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.3× smaller than the prior — bridge or down round.
    • Switched to Rule 06 (was Rule 506(b)).
    • 2 investors on this round.
  4. Series B$37.3M2007-10-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 6 investors on this round.
  5. Series A$12.0M2007-10-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.1× smaller than the prior — bridge or down round.
    • Switched to Rule 06 (was Rule 506(b)).
    • 1 investor on this round.
  6. Series C$75.0M2018-02-23
    • Raised again after 125 mo — slower than the ~14 mo sector norm.
    • Round 6.2× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 29 investors on this round.
  7. Series D+$150.0M2018-06-25
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • 1 investor on this round.
Intelligence
2020 ~Q2
Modeled next raise · ~21mo cadence
$300.0M
Modeled next size est.range $195.0M$480.0M
2.0×
Last step-up
$25.6M/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
Robert Anderson23 other2018-02
Robert S Langer13 other2018-06
Dale A Sander2 other2018-02
Robert E. Langer2 other2007-10
Carrie S. Cox1 other2007-10
Brady E. Dougan2007-10
Brady W. Dougan2007-10
Jeffrey H. Lawson2018-06
Kathleen A. Sebelius2018-02
Laura E. Niklason2007-10
Laura W. Niklason2018-02
Matthew E. Megaro2007-10
Max A. Wallace2018-02
Max E. Wallace2007-10
Max N. Wallace2018-06
Max W. Wallace2007-10
Paul A. Boyer2007-10
Paul S. Boyer2007-10
Robert E. Anderson2007-10
Robert W. Langer2007-10
Ted S. Lithgow2007-10
Theodore D. Lithgow2018-06
Theodore S. Lithgow2018-02
William H. Tente2018-06
Registry & provenance

Humacyte, 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
1385943
SEC CIK
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
Lyndra, Inc.BiotechnologySeries D+$281.9M$1.6Bnetwork1 shared operator · same sector · same stage
Rubius Therapeutics, Inc.BiotechnologySeries D+$216.2M$4.2Bnetwork1 shared operator · same sector · same stage
Selecta Biosciences IncBiotechnologySeries D+$445.6M$1.4Bnetwork1 shared operator · same sector · same stage
Arcellx, Inc.BiotechnologySeries D+$272.8M$1.8Bsame sector · same stage
Annexon, Inc.BiotechnologySeries D+$278.5M$2.8Bsame sector · same stage
Predictive Oncology Inc.BiotechnologySeries D+$280.1M$1.3Bsame sector · same stage
Sequenom IncBiotechnologySeries D+$268.1M$3.5Bsame sector · same stage
Sonoma Biotherapeutics, Inc.BiotechnologySeries D+$265.0M$7.7Bsame 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
Humabiologics, Inc.BiotechnologyPre-Seed$14.8M90%
Healthy Humming, LLCBiotechnologyPre-Seed$7.2M85%
Organogenesis Holdings Inc.BiotechnologySeries D+$1.3B84%
Parcel Biosciences, Inc.BiotechnologySeries A$31.9M83%
Vitae Industries, IncBiotechnologySeed$103.4M83%
Dahlia Biosciences, Inc.BiotechnologyPre-Seed$17.4M83%
Soltego, Inc.BiotechnologySeries A$243.7M83%
Patensee, Inc.BiotechnologySeed$9.7M83%
Frequently asked
How much funding has Humacyte, Inc. raised?
Humacyte, Inc. has raised approximately $274.8M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Humacyte, Inc.'s estimated valuation?
Provath's modeled valuation for Humacyte, Inc. is approximately $6.2B (modeled range $680.0M–$13.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Humacyte, Inc. at?
Humacyte, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Mon Jun 25.
What does Humacyte, Inc. do and where is it based?
Humacyte, Inc. operates in the Biotechnology sector, based in DURHAM.
Explore related

See where Humacyte, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

Is this your company?

If you work at Humacyte, Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.