Companies · Other Technology

Lighting Science Group Corp

MELBOURNE · Other Technology

Diligence memoA one-page analyst read on Lighting Science Group Corp — recommendation, valuation, rhythm, risks.
$248.7M
Total raised · real
12
Rounds
1.0×
Latest step-up
Top 2%
Sector rank · raised
Series C
Latest stage · inferred · Fri Sep 11 2015 00:00:00 GMT+0000 (Coordinated Universal Time)

Lighting Science Group Corp 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 0.35× the median modeled value of Series C Other Technology companies in 2013–2015 (101 peers) — value vs value, same stage and era.
Dormant
  • Last raise 10.8 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 Other Technology

Lighting Science Group Corp is one of 21292 Other Technology companies tracked from MELBOURNE. 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.

As reported in public records reported — not modeled.

US
Jurisdiction
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$1.3B$2.5B$3.8B$5.0BSeries B · 2010-04-19 Raised $25M (real) Modeled valuation $765M (est)Series B2010Series B · 2010-04-20 Raised $1.6M (real) Modeled valuation $48M (est)Series B2010Series B · 2011-01-13 Raised $10M (real) Modeled valuation $305M (est)Series B2011Series B · 2011-01-26 Raised $18M (real) Modeled valuation $548M (est)Series B2011Series C · 2012-05-25 Raised $67M (real) Modeled valuation $2.1B (est)Series C2012Series C · 2013-09-11 Raised $20M (real) Modeled valuation $629M (est)Series C2013Series C · 2014-01-03 Raised $17M (real) Modeled valuation $548M (est)Series C2014Series C · 2014-08-14 Raised $33M (real) Modeled valuation $1.0B (est)Series C2014Series C · 2014-08-14 Raised $21M (real) Modeled valuation $660M (est)Series C2014Series C · 2014-08-14 Raised $8.0M (real) Modeled valuation $251M (est)Series C2014Series C · 2015-09-11 Raised $18M (real) Modeled valuation $566M (est)Series C2015Series C · 2015-09-11 Raised $10M (real) Modeled valuation $314M (est)Series C2015Series C · 2015-09-11 Raised $10M (real) Modeled valuation $314M (est)Series C2015Cumulative $259M

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 B$25.1M · 2010
Series B extension$1.6M · 2010
Series B extension$10.0M · 2011
Series B extension$18.0M · 2011
Series C$67.1M · 2012
Series C extension$20.0M · 2013
Series C extension$17.4M · 2014
Series C extension$32.5M · 2014
Series C extension$21.0M · 2014
Series C extension$8.0M · 2014
Series C extension$18.0M · 2015
Series C extension$10.0M · 2015
Series C extension$10.0M · 2015

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$565.7M
Base estimate est.
$68.2M
Conservative case
$1.5B
Upside case
$120.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series B · modeled $764.9M · 2010-04-192010Series B · modeled $47.7M · 2010-04-20Series B · modeled $304.6M · 2011-01-13Series B · modeled $548.2M · 2011-01-26Series C · modeled $2.1B · 2012-05-25Series C · modeled $628.6M · 2013-09-11Series C · modeled $547.8M · 2014-01-03Series C · modeled $1.0B · 2014-08-14Series C · modeled $660.0M · 2014-08-14Series C · modeled $251.4M · 2014-08-14Series C · modeled $565.7M · 2015-09-11Series C · modeled $314.3M · 2015-09-11Series C · modeled $314.3M · 2015-09-112015
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
76%
Survival probability
57% low · 88% high
1.35×/yr
Annual markup
1.55×/yr upside case
6.0 yr
Elapsed time used
10.8 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
5 mo
Avg between rounds
$46.1M/yr
Capital velocity
16.2 yr
On record since
2010
First round
13
Rounds on file
How it compares to the market

Benchmarked against 21292 companies in Other Technology. 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) 78× above median
This company$248.7M
Sector median$3.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.2× of median
This company$10.0M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 15× above median
This company$565.7M
Sector median$37.3M

Raised more than 99% of sector peers (real $). Modeled value above 93% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #89 of 101.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Open Text Corp · Series C Raised $200.0M · modeled $3.1B (est)Mobilitie Investments III, LLC · Series C Raised $100.0M · modeled $3.1B (est)Gct Semiconductor Inc · Series C Raised $334.9M · modeled $3.1B (est)Netsuite Inc · Series C Raised $100.4M · modeled $3.1B (est)Datadog, Inc. · Series C Raised $147.2M · modeled $3.0B (est)AvePoint, Inc. · Series C Raised $90.0M · modeled $2.8B (est)Munchery Inc. · Series C Raised $117.8M · modeled $2.7B (est)Lithium Technologies, Inc. · Series C Raised $196.2M · modeled $2.7B (est)Appdynamics Inc · Series C Raised $94.4M · modeled $2.6B (est)HotChalk, Inc. · Series C Raised $83.1M · modeled $2.6B (est)Arecont Vision, LLC · Series C Raised $80.0M · modeled $2.5B (est)ZocDoc Inc · Series C Raised $148.6M · modeled $2.5B (est)Lighting Science Group Corp (this company) Raised $248.7M · modeled $565.7M (est)Lighting Science Group Corp
CompanyStageRaised · realValue · estvs peer med.
Open Text CorpSeries C$200.0M$3.1B1.97×
Mobilitie Investments III, LLCSeries C$100.0M$3.1B1.97×
Gct Semiconductor IncSeries C$334.9M$3.1B1.94×
Netsuite IncSeries C$100.4M$3.1B1.94×
Datadog, Inc.Series C$147.2M$3.0B1.86×
AvePoint, Inc.Series C$90.0M$2.8B1.77×
Munchery Inc.Series C$117.8M$2.7B1.70×
Lithium Technologies, Inc.Series C$196.2M$2.7B1.70×
Appdynamics IncSeries C$94.4M$2.6B1.64×
HotChalk, Inc.Series C$83.1M$2.6B1.63×
Arecont Vision, LLCSeries C$80.0M$2.5B1.57×
ZocDoc IncSeries C$148.6M$2.5B1.57×
Lighting Science Group Corp this companySeries C$248.7M$565.7M0.35×
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 B$25.1M2010-04-19$139.5M$764.9M90%
Series B$1.6M2010-04-20$8.7M$47.7M90%
Series B$10.0M2011-01-13$55.6M$304.6M90%
Series B$18.0M2011-01-26$100.0M$548.2M90%
Series C$67.1M2012-05-25$447.1M$2.1B90%
Series C$20.0M2013-09-11$133.3M$628.6M90%
Series C$17.4M2014-01-03$116.2M$547.8M90%
Series C$32.5M2014-08-14$216.8M$1.0B90%
Series C$21.0M2014-08-14$140.0M$660.0M90%
Series C$8.0M2014-08-14$53.3M$251.4M90%
Series C$18.0M2015-09-11$120.0M$565.7M90%
Series C$10.0M2015-09-11$66.7M$314.3M90%
Series C$10.0M2015-09-11$66.7M$314.3M90%
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 B$25.1M2010-04-19
    • First recorded raise — entered as Series B.
  2. Series B$1.6M2010-04-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 16.0× smaller than the prior — bridge or down round.
  3. Series B$10.0M2011-01-13
    • Raised 9 mo later, in step with the ~13 mo sector norm.
    • Round 6.4× larger than the prior — scaling up.
  4. Series B$18.0M2011-01-26
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.8× larger than the prior — scaling up.
  5. Series C$67.1M2012-05-25
    • Raised 16 mo later, in step with the ~13 mo sector norm.
    • Round 3.7× larger than the prior — scaling up.
  6. Series C$20.0M2013-09-11
    • Raised 16 mo later, in step with the ~13 mo sector norm.
    • Round 3.4× smaller than the prior — bridge or down round.
  7. Series C$17.4M2014-01-03
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
  8. Series C$32.5M2014-08-14
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
  9. Series C$21.0M2014-08-14
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
  10. Series C$8.0M2014-08-14
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.6× smaller than the prior — bridge or down round.
  11. Series C$18.0M2015-09-11
    • Raised 13 mo later, in step with the ~13 mo sector norm.
    • Round 2.3× larger than the prior — scaling up.
  12. Series C$10.0M2015-09-11
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.8× smaller than the prior — bridge or down round.
  13. Series C$10.0M2015-09-11
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
Intelligence
2016 ~Q1
Modeled next raise · ~5mo cadence
$10.0M
Modeled next size est.range $10.0M$16.0M
1.0×
Last step-up
$46.1M/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
Jonathan Rosenbaum8 other2014-08
Nicholas Brathwaite8 other2013-09
Richard Davis7 other2014-01
Thomas Smach3 other2013-09
Andrew Cooper2 other2013-09
Craig Cogut2 other2014-01
Edward Bednarcik2 other2014-08
Andrew G. Cooper1 other2012-05
Dennis McGill1 other2014-08
Fredric Maxik1 other2013-09
Keith Scott1 other2013-09
Michael W Kempner1 other2010-04
Samer Salty1 other2013-09
Sanford R. Climan1 other2014-08
Thomas Shields1 other2013-09
T Michael Moseley1 other2010-04
Brad G. Knight2012-05
Carlos M Gutierrez2010-04
Charles T. Darnell2011-01
Craig D. Cogut2014-08
David D. Cline2015-09
David E Bell2010-04
Dennis D. McGill2015-09
Donald Harkleroad2013-09
Registry & provenance

Lighting Science Group Corp 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
866970
SEC CIK
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Frequently asked
How much funding has Lighting Science Group Corp raised?
Lighting Science Group Corp has raised approximately $248.7M in disclosed capital across 12 recorded financing rounds, aggregated from public filings.
What is Lighting Science Group Corp's estimated valuation?
Provath's modeled valuation for Lighting Science Group Corp is approximately $565.7M (modeled range $68.2M–$1.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Lighting Science Group Corp at?
Lighting Science Group Corp's latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Sep 11.
What does Lighting Science Group Corp do and where is it based?
Lighting Science Group Corp operates in the Other Technology sector, based in MELBOURNE.
Explore related

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