Companies · Govtech / Public Sector

Kodex, Inc.Summer 2021Active

BOSTON · MA, USA; Remote · Govtech / Public Sector · refined from filed group “Other Technology · founded 2021 · https://www.kodexglobal.com

Diligence memoA one-page analyst read on Kodex, Inc. — recommendation, valuation, rhythm, risks.
$31.5M
Total raised · real
3
Rounds
2.1×
Latest step-up
Top 3%
Sector rank · raised
Series B
Latest stage · inferred · Thu Sep 04 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Kodex, Inc. has raised $31M over 3 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 govtech sector profile.

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

Active
  • Last raise 10 mo ago; this sector typically re-raises about every 9 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Govtech / Public Sector

Kodex, Inc. is one of 46 Govtech / Public Sector companies tracked from BOSTON, MA, USA; Remote, on record since 2021. 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.

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

Easiest way for companies to process data requests from governments

Kodex makes it easy for companies to process, and respond to, subpoenas from governments around the world. Agencies, like the FBI, subpoena user data from customers like Coinbase, and thousands of other companies - without Kodex, companies largely rely on email, fax, and spreadsheets to manage them. Kodex is a SaaS tool that helps private sector companies manage relationships, workflows, and secure file transfer with government agencies who are seeking confidential information on a company's users. We streamline compliance operations, protect the privacy of their users, reduce error, and validate the legitimacy of government agents who are requesting information.

ComplianceGovTechLegalTechRegtechsaas
Find Kodex, Inc. online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
7
Investors (latest)
2021
Year incorporated
2025-09-04
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$200MPre-Seed · 2021-05-16 Raised $300K (real) Modeled valuation $6.3M (est)$300K$6.3MPre-Seed2021Series A · 2022-10-19 Raised $10M (real) Modeled valuation $94M (est)$10M$94MSeries A2022Series B · 2025-09-04 Raised $21M (real) Modeled valuation $105M (est)$21M$105MSeries B2025+$10M+$21MCumulative $31M

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
Pre-Seed$300K · 2021
Series A$10.0M · 2022no Seed on file
Series B$21.2M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 75%.

Modeled valuation trajectory
$105.2M
Base estimate est.
$54.6M
Conservative case
$150.2M
Upside case
$117.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the govtech sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $6.3M · 2021-05-162021Series A · modeled $93.6M · 2022-10-19Series B · modeled $105.2M · 2025-09-042025
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
70%
Survival probability
46% low · 86% high
1.34×/yr
Annual markup
1.63×/yr upside case
0.8 yr
Elapsed time used
0.8 yr actual, capped for stale marks
govtech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
26 mo
Avg between rounds
$7.3M/yr
Capital velocity
5.1 yr
On record since
2021
First round
3
Rounds on file
How it compares to the market

Benchmarked against 46 companies in Govtech / Public Sector. 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) 4.6× above median
This company$31.5M
Sector median$6.9M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.1× above median
This company$21.2M
Sector median$19.4M
Modeled value — vs sector median (estimate, all stages) 4.1× above median
This company$105.2M
Sector median$25.5M

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

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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.
Kodex, Inc. this companySeries B$31.5M$105.2M1.21×
AlmetraSeries B$17.6M$68.8M0.79×
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.
Pre-Seed$300K2021-05-16$1.7M$6.3M90%
Series A$10.0M2022-10-19$45.5M$93.6M90%
Series B$21.2M2025-09-04$117.8M$105.2M90%
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. Pre-Seed$300K2021-05-16
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Series A$10.0M2022-10-19
    • Raised again after 17 mo — slower than the ~9 mo sector norm.
    • Round 33.3× larger than the prior — scaling up.
    • 32 investors on this round.
  3. Series B$21.2M2025-09-04
    • Raised again after 35 mo — slower than the ~9 mo sector norm.
    • Round 2.1× larger than the prior — scaling up.
    • 7 investors on this round.
Intelligence
2027 ~Q4
Modeled next raise · ~26mo cadence
$44.9M
Modeled next size est.range $29.2M$71.9M
2.1×
Last step-up
$7.3M/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
Jose Mendoza2025-09
Matthew Donahue2025-09
MATTHEW L. DONAHUE2021-05
Registry & provenance

Kodex, 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
1865069
SEC CIK
2021
Incorporated
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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
GovPredict
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Govtech / Public Sector74%
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Seneca Systems
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AI / ML72%
Archon
We help software companies sell to government.
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GovX, Inc.OtherSeries A$56.4M72%
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Frequently asked
How much funding has Kodex, Inc. raised?
Kodex, Inc. has raised approximately $31.5M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Kodex, Inc.'s estimated valuation?
Provath's modeled valuation for Kodex, Inc. is approximately $105.2M (modeled range $54.6M–$150.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Kodex, Inc. at?
Kodex, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Sep 04.
What does Kodex, Inc. do and where is it based?
Kodex, Inc. operates in the Govtech / Public Sector sector, based in BOSTON, MA, USA; Remote. Easiest way for companies to process data requests from governments
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