Companies · Other Health Care

Integrity Applications, Inc.

RUTHERFORD · Other Health Care

Diligence memoA one-page analyst read on Integrity Applications, Inc. — recommendation, valuation, rhythm, risks.
$41.0M
Total raised · real
7
Rounds
0.0×
Latest step-up
Top 10%
Sector rank · raised
Series A
Latest stage · inferred · Mon Apr 22 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Integrity Applications, Inc. looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the health care 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 0.07× 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.
Quiet
  • Last raise 2.2 yr ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector 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 Other Health Care

Integrity Applications, Inc. is one of 5376 Other Health Care companies tracked from RUTHERFORD. By capital raised it ranks among the largest (ahead of 91% of sector peers), and in the long tail 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
$0–$1M
Issuer revenue
Rule 506(b)
Reg D exemption
9
Investors (latest)
2024-04-22
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$125M$250M$375M$500MSeed · 2010-12-15 Raised $3.6M (real) Modeled valuation $88M (est)Seed2010Seed · 2012-11-19 Raised $1.2M (real) Modeled valuation $29M (est)Seed2012Series A · 2012-11-19 Raised $7.5M (real) Modeled valuation $150M (est)Series A2012Series A · 2014-08-29 Raised $3.0M (real) Modeled valuation $61M (est)Series A2014Seed · 2016-04-08 Raised $1.1M (real) Modeled valuation $28M (est)Seed2016Series A · 2016-04-08 Raised $6.2M (real) Modeled valuation $126M (est)Series A2016Series A · 2016-04-08 Raised $11M (real) Modeled valuation $222M (est)Series A2016Series A · 2017-12-01 Raised $425K (real) Modeled valuation $8.6M (est)Series A2017Series A · 2020-02-14 Raised $15M (real) Modeled valuation $303M (est)Series A2020Series A · 2024-04-22 Raised $500K (real) Modeled valuation $2.6M (est)Series A2024+$1.2M+$7.5M+$3.0M+$1.1M+$6.2M+$11M+$425K+$15M+$500KCumulative $50M

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
Seed$3.6M · 2010
Seed extension$1.2M · 2012
Series A$7.5M · 2012
Series A extension$3.0M · 2014
Bridge · Series A-stage$1.1M · 2016smaller follow-on
Series A extension$6.2M · 2016
Series A extension$11.0M · 2016
Series A extension$425K · 2017
Series A extension$15.0M · 2020
Series A extension$500K · 2024

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
$2.6M
Base estimate est.
$641K
Conservative case
$5.8M
Upside case
$2.3M
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 health care sector profile. Directional, not a quoted figure.

Seed · modeled $88.4M · 2010-12-152010Seed · modeled $28.6M · 2012-11-19Series A · modeled $150.4M · 2012-11-19Series A · modeled $61.3M · 2014-08-29Seed · modeled $28.1M · 2016-04-08Series A · modeled $125.8M · 2016-04-08Series A · modeled $222.0M · 2016-04-08Series A · modeled $8.6M · 2017-12-01Series A · modeled $302.7M · 2020-02-14Series A · modeled $2.6M · 2024-04-222024
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.43×/yr
Annual markup
1.80×/yr upside case
2.2 yr
Elapsed time used
2.2 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
18 mo
Avg between rounds
$3.1M/yr
Capital velocity
15.5 yr
On record since
2010
First round
10
Rounds on file
How it compares to the market

Benchmarked against 5376 companies in Other Health Care. 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) 17× above median
This company$41.0M
Sector median$2.4M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.1× of median
This company$500K
Sector median$5.6M
Modeled value — vs sector median (estimate, all stages) 0.1× of median
This company$2.6M
Sector median$22.1M

Raised more than 91% of sector peers (real $). Modeled value above 11% 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 #189 of 196.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)CareHarmony, Inc. · Series A Raised $17.4M · modeled $145.1M (est)Dragonfly Endoscopy Inc. · Series A Raised $12.7M · modeled $141.8M (est)NuvoAir Holdings, Inc. · Series A Raised $10.7M · modeled $124.9M (est)Post Acute Recovery, Inc. · Series A Raised $14.5M · modeled $122.9M (est)Micro Interventional Devices, Inc. · Series A Raised $14.0M · modeled $118.9M (est)Etiometry Inc. · Series A Raised $15.6M · modeled $114.6M (est)SafKan, Inc. · Series A Raised $13.0M · modeled $108.4M (est)BehaVR Holdings, Inc. · Series A Raised $12.1M · modeled $102.0M (est)Outliers Inc. · Series A Raised $13.6M · modeled $101.6M (est)RevMedica, Inc. · Series A Raised $14.2M · modeled $101.1M (est)Innovoyce LLC · Series A Raised $9.9M · modeled $97.5M (est)Prixz, Inc. · Series A Raised $9.2M · modeled $97.3M (est)Integrity Applications, Inc. (this company) Raised $41.0M · modeled $2.6M (est)Integrity Applications, Inc.
CompanyStageRaised · realValue · estvs peer med.
CareHarmony, Inc.Series A$17.4M$145.1M3.96×
Dragonfly Endoscopy Inc.Series A$12.7M$141.8M3.87×
NuvoAir Holdings, Inc.Series A$10.7M$124.9M3.41×
Post Acute Recovery, Inc.Series A$14.5M$122.9M3.35×
Micro Interventional Devices, Inc.Series A$14.0M$118.9M3.25×
Etiometry Inc.Series A$15.6M$114.6M3.13×
SafKan, Inc.Series A$13.0M$108.4M2.96×
BehaVR Holdings, Inc.Series A$12.1M$102.0M2.78×
Outliers Inc.Series A$13.6M$101.6M2.77×
RevMedica, Inc.Series A$14.2M$101.1M2.76×
Innovoyce LLCSeries A$9.9M$97.5M2.66×
Prixz, Inc.Series A$9.2M$97.3M2.66×
Integrity Applications, Inc. this companySeries A$41.0M$2.6M0.07×
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.
Seed$3.6M2010-12-15$17.8M$88.4M85%
Seed$1.2M2012-11-19$5.8M$28.6M85%
Series A$7.5M2012-11-19$33.9M$150.4M85%
Series A$3.0M2014-08-29$13.8M$61.3M85%
Seed$1.1M2016-04-08$5.7M$28.1M85%
Series A$6.2M2016-04-08$28.3M$125.8M90%
Series A$11.0M2016-04-08$50.0M$222.0M90%
Series A$425K2017-12-01$1.9M$8.6M90%
Series A$15.0M2020-02-14$68.2M$302.7M90%
Series A$500K2024-04-22$2.3M$2.6M90%
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. Seed$3.6M2010-12-15
    • First recorded raise — entered as Seed.
    • 57 investors on this round.
  2. Seed$1.2M2012-11-19
    • Raised again after 23 mo — slower than the ~14 mo sector norm.
    • Round 3.1× smaller than the prior — bridge or down round.
    • 27 investors on this round.
  3. Series A$7.5M2012-11-19
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 6.5× larger than the prior — scaling up.
    • 89 investors on this round.
  4. Series A$3.0M2014-08-29
    • Raised again after 21 mo — slower than the ~14 mo sector norm.
    • Round 2.5× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 31 investors on this round.
  5. Seed$1.1M2016-04-08
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 2.7× smaller than the prior — bridge or down round.
    • Revenue band moved No revenue → $0–$1M.
    • 17 investors on this round.
  6. Series A$6.2M2016-04-08
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 5.5× larger than the prior — scaling up.
    • 78 investors on this round.
  7. Series A$11.0M2016-04-08
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.8× larger than the prior — scaling up.
    • 96 investors on this round.
  8. Series A$425K2017-12-01
    • Raised 20 mo later, in step with the ~14 mo sector norm.
    • Round 25.9× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  9. Series A$15.0M2020-02-14
    • Raised again after 26 mo — slower than the ~14 mo sector norm.
    • Round 35.3× larger than the prior — scaling up.
    • 1 investor on this round.
  10. Series A$500K2024-04-22
    • Raised again after 50 mo — slower than the ~14 mo sector norm.
    • Round 30.0× smaller than the prior — bridge or down round.
    • 9 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~18mo cadence
$500K
Modeled next size est.range $500K$800K
0.0×
Last step-up
$3.1M/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
John Graham5 other2016-04
Robert Fischell5 other2016-04
Robert E. Fischell4 other2010-12
James Cardwell3 other2024-04
Angela Strand2 other2016-04
Jolie Kahn1 other2020-02
Allen Danzig2020-02
Andrew Sycoff2020-02
Avner E. Gal2010-12
Avner Gal2016-04
David E. Malka2010-12
David Malka2016-04
David Podwalski2016-04
Eran Cohen2016-04
Eran E. Hertz2014-08
Eran Hertz2016-04
Erin Carter2024-04
Eugene L. Naidis2010-12
Eugene Naidis2017-12
Israel L. Ehrlich2012-11
Jacob L. Bar-Shalom2012-11
Joel L. Gold2010-12
Leslie Seff2016-04
Luis Malave2024-04
Registry & provenance

Integrity Applications, 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
1506983
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.

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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
Integrity Implants Inc.Other Health CareSeries A$21.2M90%
EdgePoint Integrity Solutions, Inc.Other Health CarePre-Seed$4.4M87%
Integrity Medical Services, LLCHealthtechPre-Seed$21.5M86%
Compliant Innovations, IncOther Health CareSeries A$88.1M84%
Inspired Biometrics Inc.Other Health CarePre-Seed$3.6M83%
Vitalchat, Inc.Other Health CareSeed$6.8M83%
Integrity Testing Inc.OtherPre-Seed$2.3M82%
Certive Solutions Inc.Other Health CareSeed$16.3M82%
Frequently asked
How much funding has Integrity Applications, Inc. raised?
Integrity Applications, Inc. has raised approximately $41.0M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Integrity Applications, Inc.'s estimated valuation?
Provath's modeled valuation for Integrity Applications, Inc. is approximately $2.6M (modeled range $641K–$5.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Integrity Applications, Inc. at?
Integrity Applications, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Mon Apr 22.
What does Integrity Applications, Inc. do and where is it based?
Integrity Applications, Inc. operates in the Other Health Care sector, based in RUTHERFORD.
Explore related

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