Companies · Manufacturing

Lightning Gaming, Inc.

Boothwyn · Manufacturing

Diligence memoA one-page analyst read on Lightning Gaming, Inc. — recommendation, valuation, rhythm, risks.
$18.5M
Total raised · real
4
Rounds
1.0×
Latest step-up
Top 15%
Sector rank · raised
Series B
Latest stage · inferred · Fri Jul 06 2012 00:00:00 GMT+0000 (Coordinated Universal Time)

Lightning Gaming, Inc. 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 manufacturing 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 0.05× the median modeled value of Series B Manufacturing companies in 2010–2012 (46 peers) — value vs value, same stage and era.
Dormant
  • Last raise 14.0 yr ago; this sector typically re-raises about every 12 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 Manufacturing

Lightning Gaming, Inc. is one of 3256 Manufacturing companies tracked from Boothwyn. By capital raised it ranks in the upper tier (ahead of 86% of sector peers), and mid-pack 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$50M$100M$150M$200MPre-Seed · 2010-02-05 Raised $1.0M (real) Modeled valuation $15M (est)$1.0M$15MPre-Seed2010Series B · 2011-06-23 Raised $16M (real) Modeled valuation $170M (est)$16M$170MSeries B2011Series B · 2012-01-17 Raised $1.0M (real) Modeled valuation $11M (est)$1.0M$11MSeries B2012Series B · 2012-07-06 Raised $1.0M (real) Modeled valuation $11M (est)$1.0M$11MSeries B2012+$16M+$1.0M+$1.0MCumulative $19M

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$1.0M · 2010
Series B$15.5M · 2011no Seed / Series A on file
Series B extension$1.0M · 2012
Series B extension$1.0M · 2012

Stages are modeled from round size (public records carry no series label). No record for: Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$11.0M
Base estimate est.
$2.5M
Conservative case
$42.2M
Upside case
$5.6M
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 manufacturing sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $15.3M · 2010-02-052010Series B · modeled $170.0M · 2011-06-23Series B · modeled $11.0M · 2012-01-17Series B · modeled $11.0M · 2012-07-062012
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
69%
Survival probability
46% low · 85% high
1.19×/yr
Annual markup
1.44×/yr upside case
6.0 yr
Elapsed time used
14.0 yr actual, capped for stale marks
manufacturing
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
10 mo
Avg between rounds
$7.7M/yr
Capital velocity
16.4 yr
On record since
2010
First round
4
Rounds on file
How it compares to the market

Benchmarked against 3256 companies in Manufacturing. 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) 9.1× above median
This company$18.5M
Sector median$2.0M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$1.0M
Sector median$18.5M
Modeled value — vs sector median (estimate, all stages) 0.9× of median
This company$11.0M
Sector median$12.0M

Raised more than 86% of sector peers (real $). Modeled value above 48% 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. This company ranks #44 of 46.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)MPD Holdings, LLC · Series B Raised $42.7M · modeled $438.6M (est)CanAm Pennsylvania Regional Center, LP VII · Series B Raised $38.4M · modeled $420.6M (est)TMD Holdings, LLC · Series B Raised $38.2M · modeled $418.8M (est)Pexco Llc · Series B Raised $36.5M · modeled $400.2M (est)Foss Holdings, LLC · Series B Raised $38.6M · modeled $385.4M (est)Goodman Fielder Ltd /Fi · Series B Raised $30.7M · modeled $336.1M (est)Gulfco Holding Corp. · Series B Raised $59.1M · modeled $325.1M (est)FR AFG Holdings, Inc. · Series B Raised $29.4M · modeled $322.1M (est)Kovio Inc · Series B Raised $27.2M · modeled $298.2M (est)Velcon Holdings, LLC · Series B Raised $26.3M · modeled $288.7M (est)Associated Group Holdings, LLC · Series B Raised $35.2M · modeled $277.8M (est)Wheaton Holding Corp. · Series B Raised $24.6M · modeled $270.2M (est)Lightning Gaming, Inc. (this company) Raised $18.5M · modeled $11.0M (est)Lightning Gaming, Inc.
CompanyStageRaised · realValue · estvs peer med.
MPD Holdings, LLCSeries B$42.7M$438.6M2.03×
CanAm Pennsylvania Regional Center, LP VIISeries B$38.4M$420.6M1.94×
TMD Holdings, LLCSeries B$38.2M$418.8M1.94×
Pexco LlcSeries B$36.5M$400.2M1.85×
Foss Holdings, LLCSeries B$38.6M$385.4M1.78×
Goodman Fielder Ltd /FiSeries B$30.7M$336.1M1.55×
Gulfco Holding Corp.Series B$59.1M$325.1M1.50×
FR AFG Holdings, Inc.Series B$29.4M$322.1M1.49×
Kovio IncSeries B$27.2M$298.2M1.38×
Velcon Holdings, LLCSeries B$26.3M$288.7M1.33×
Associated Group Holdings, LLCSeries B$35.2M$277.8M1.28×
Wheaton Holding Corp.Series B$24.6M$270.2M1.25×
Lightning Gaming, Inc. this companySeries B$18.5M$11.0M0.05×
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$1.0M2010-02-05$5.6M$15.3M90%
Series B$15.5M2011-06-23$86.1M$170.0M90%
Series B$1.0M2012-01-17$5.6M$11.0M90%
Series B$1.0M2012-07-06$5.6M$11.0M90%
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$1.0M2010-02-05
    • First recorded raise — entered as Pre-Seed.
  2. Series B$15.5M2011-06-23
    • Raised 17 mo later, in step with the ~12 mo sector norm.
    • Round 15.5× larger than the prior — scaling up.
  3. Series B$1.0M2012-01-17
    • Came back fast: 7 mo vs the ~12 mo sector norm.
    • Round 15.5× smaller than the prior — bridge or down round.
  4. Series B$1.0M2012-07-06
    • Came back fast: 6 mo vs the ~12 mo sector norm.
    • Round roughly the size of the prior one.
Intelligence
2013 ~Q2
Modeled next raise · ~10mo cadence
$1.0M
Modeled next size est.range $1.0M$1.6M
1.0×
Last step-up
$7.7M/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
Donald Caldwell5 other2010-02
Frederick Tecce2 other2010-02
Brian Haveson1 other2010-02
Robert Ciunci1 other2010-02
Registry & provenance

Lightning Gaming, 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
1392545
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
Lightning Poker IncManufacturingSeries A$15.5M$134.8Mnetwork4 shared operators · same sector
China Gerui Advanced Materials Group LtdManufacturingSeries B$19.9M$12.1Msame sector · same stage
Bright Automotive IncManufacturingSeries B$21.0M$9.3Msame sector · same stage
InsPro Technologies CorpSoftware / TechSeries A$15.2M$8.3Mnetwork2 shared operators
HaloSource IncManufacturingSeries B$22.9M$10.8Msame sector · same stage
Dakotaland Group, LLCManufacturingSeries B$27.6M$12.4Msame sector · same stage
Culture Fresh Foods, Inc.ManufacturingSeries A$20.4M$9.6Msame sector
Project Frog IncManufacturingSeries B$82.7M$11.9Msame sector · same stage
Frequently asked
How much funding has Lightning Gaming, Inc. raised?
Lightning Gaming, Inc. has raised approximately $18.5M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Lightning Gaming, Inc.'s estimated valuation?
Provath's modeled valuation for Lightning Gaming, Inc. is approximately $11.0M (modeled range $2.5M–$42.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Lightning Gaming, Inc. at?
Lightning Gaming, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Jul 06.
What does Lightning Gaming, Inc. do and where is it based?
Lightning Gaming, Inc. operates in the Manufacturing sector, based in Boothwyn.
Explore related

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

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