Companies · Other Health Care

MacuLogix, Inc.

Harrisburg · Other Health Care

Diligence memoA one-page analyst read on MacuLogix, Inc. — recommendation, valuation, rhythm, risks.
$82.1M
Total raised · real
7
Rounds
0.8×
Latest step-up
Top 6%
Sector rank · raised
Series B
Latest stage · inferred · Wed Dec 16 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

MacuLogix, 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 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 0.44× the median modeled value of Series B Other Health Care companies in 2019–2021 (78 peers) — value vs value, same stage and era.
Dormant
  • Last raise 5.5 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 Other Health Care

MacuLogix, Inc. is one of 5376 Other Health Care companies tracked from Harrisburg. By capital raised it ranks among the largest (ahead of 95% of sector peers), and in the upper tier 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
3
Investors (latest)
2020-12-16
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$250M$500M$750M$1.0BSeed · 2012-07-11 Raised $2.9M (real) Modeled valuation $72M (est)Seed2012Seed · 2014-06-04 Raised $3.6M (real) Modeled valuation $89M (est)Seed2014Seed · 2014-06-04 Raised $3.6M (real) Modeled valuation $89M (est)Seed2014Series A · 2015-07-23 Raised $5.0M (real) Modeled valuation $101M (est)Series A2015Series B · 2016-12-22 Raised $18M (real) Modeled valuation $388M (est)Series B2016Seed · 2016-12-22 Raised $1.8M (real) Modeled valuation $45M (est)Seed2016Seed · 2016-12-22 Raised $3.1M (real) Modeled valuation $77M (est)Seed2016Series A · 2016-12-22 Raised $12M (real) Modeled valuation $249M (est)Series A2016Series A · 2016-12-22 Raised $8.3M (real) Modeled valuation $168M (est)Series A2016Series B · 2019-03-01 Raised $38M (real) Modeled valuation $836M (est)Series B2019Series A · 2020-02-18 Raised $8.0M (real) Modeled valuation $161M (est)Series A2020Series B · 2020-02-18 Raised $16M (real) Modeled valuation $354M (est)Series B2020Series A · 2020-02-18 Raised $15M (real) Modeled valuation $303M (est)Series A2020Series B · 2020-12-16 Raised $8.5M (real) Modeled valuation $164M (est)Series B2020Series B · 2020-12-16 Raised $22M (real) Modeled valuation $423M (est)Series B2020Series B · 2020-12-16 Raised $17M (real) Modeled valuation $327M (est)Series B2020Cumulative $182M

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$2.9M · 2012
Seed extension$3.6M · 2014
Seed extension$3.6M · 2014
Series A$5.0M · 2015
Series B$17.5M · 2016
Bridge · Series B-stage$1.8M · 2016smaller follow-on
Bridge · Series B-stage$3.1M · 2016smaller follow-on
Bridge · Series B-stage$12.3M · 2016smaller follow-on
Bridge · Series B-stage$8.3M · 2016smaller follow-on
Series B extension$37.7M · 2019
Bridge · Series B-stage$8.0M · 2020smaller follow-on
Series B extension$16.0M · 2020
Bridge · Series B-stage$15.0M · 2020smaller follow-on
Series B extension$8.5M · 2020
Series B extension$22.0M · 2020
Series B extension$17.0M · 2020

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: 75%.

Modeled valuation trajectory
$163.6M
Base estimate est.
$20.0M
Conservative case
$576.4M
Upside case
$47.2M
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 health care sector profile. Directional, not a quoted figure.

Seed · modeled $72.4M · 2012-07-112012Seed · modeled $89.3M · 2014-06-04Seed · modeled $89.3M · 2014-06-04Series A · modeled $100.9M · 2015-07-23Series B · modeled $387.7M · 2016-12-22Seed · modeled $44.8M · 2016-12-22Seed · modeled $77.4M · 2016-12-22Series A · modeled $249.1M · 2016-12-22Series A · modeled $167.5M · 2016-12-22Series B · modeled $836.1M · 2019-03-01Series A · modeled $161.4M · 2020-02-18Series B · modeled $354.5M · 2020-02-18Series A · modeled $302.7M · 2020-02-18Series B · modeled $163.6M · 2020-12-16Series B · modeled $423.4M · 2020-12-16Series B · modeled $327.2M · 2020-12-162020
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
64%
Survival probability
42% low · 78% high
1.36×/yr
Annual markup
1.64×/yr upside case
5.5 yr
Elapsed time used
5.5 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$9.7M/yr
Capital velocity
14.0 yr
On record since
2012
First round
16
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) 34× above median
This company$82.1M
Sector median$2.4M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.0× of median
This company$17.0M
Sector median$17.8M
Modeled value — vs sector median (estimate, all stages) 7.4× above median
This company$163.6M
Sector median$22.1M

Raised more than 95% of sector peers (real $). Modeled value above 86% 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 #62 of 78.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0MCapital raised (log)KSMS Holdings, LLC · Series B Raised $40.0M · modeled $885.1M (est)Infab HoldCo, Inc. · Series B Raised $36.5M · modeled $807.5M (est)Aquity Holdings, Inc. · Series B Raised $36.0M · modeled $797.6M (est)MHH Management Holdco, LLC · Series B Raised $35.1M · modeled $777.6M (est)Earli Inc. · Series B Raised $40.0M · modeled $756.4M (est)Encore Dermatology, Inc. · Series B Raised $89.6M · modeled $729.9M (est)National Spine & Pain Centers Holdings, LLC · Series B Raised $32.0M · modeled $708.9M (est)In Vitro Sciences, LLC · Series B Raised $31.5M · modeled $697.9M (est)Lotus Parent, Inc. · Series B Raised $31.2M · modeled $690.4M (est)Iron Oak Holdings LLC · Series B Raised $30.0M · modeled $664.6M (est)Squid Ink, Inc. · Series B Raised $30.2M · modeled $620.8M (est)Predict Innovation Investors, Llc · Series B Raised $27.9M · modeled $617.4M (est)MacuLogix, Inc. (this company) Raised $82.1M · modeled $163.6M (est)MacuLogix, Inc.
CompanyStageRaised · realValue · estvs peer med.
KSMS Holdings, LLCSeries B$40.0M$885.1M2.37×
Infab HoldCo, Inc.Series B$36.5M$807.5M2.16×
Aquity Holdings, Inc.Series B$36.0M$797.6M2.13×
MHH Management Holdco, LLCSeries B$35.1M$777.6M2.08×
Earli Inc.Series B$40.0M$756.4M2.02×
Encore Dermatology, Inc.Series B$89.6M$729.9M1.95×
National Spine & Pain Centers Holdings, LLCSeries B$32.0M$708.9M1.90×
In Vitro Sciences, LLCSeries B$31.5M$697.9M1.87×
Lotus Parent, Inc.Series B$31.2M$690.4M1.85×
Iron Oak Holdings LLCSeries B$30.0M$664.6M1.78×
Squid Ink, Inc.Series B$30.2M$620.8M1.66×
Predict Innovation Investors, LlcSeries B$27.9M$617.4M1.65×
MacuLogix, Inc. this companySeries B$82.1M$163.6M0.44×
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$2.9M2012-07-11$14.6M$72.4M85%
Seed$3.6M2014-06-04$18.0M$89.3M85%
Seed$3.6M2014-06-04$18.0M$89.3M85%
Series A$5.0M2015-07-23$22.7M$100.9M85%
Series B$17.5M2016-12-22$97.2M$387.7M90%
Seed$1.8M2016-12-22$9.0M$44.8M90%
Seed$3.1M2016-12-22$15.6M$77.4M90%
Series A$12.3M2016-12-22$56.1M$249.1M90%
Series A$8.3M2016-12-22$37.7M$167.5M90%
Series B$37.7M2019-03-01$209.7M$836.1M90%
Series A$8.0M2020-02-18$36.4M$161.4M90%
Series B$16.0M2020-02-18$88.9M$354.5M90%
Series A$15.0M2020-02-18$68.2M$302.7M90%
Series B$8.5M2020-12-16$47.2M$163.6M90%
Series B$22.0M2020-12-16$122.2M$423.4M90%
Series B$17.0M2020-12-16$94.4M$327.2M90%
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. Seed$2.9M2012-07-11
    • First recorded raise — entered as Seed.
    • 6 investors on this round.
  2. Seed$3.6M2014-06-04
    • Raised again after 23 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(c) (was Rule 06).
    • 7 investors on this round.
  3. Seed$3.6M2014-06-04
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 7 investors on this round.
  4. Series A$5.0M2015-07-23
    • Raised 14 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 4 investors on this round.
  5. Series B$17.5M2016-12-22
    • Raised 17 mo later, in step with the ~14 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
    • 7 investors on this round.
  6. Seed$1.8M2016-12-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 9.7× smaller than the prior — bridge or down round.
    • 10 investors on this round.
  7. Seed$3.1M2016-12-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× larger than the prior — scaling up.
    • 10 investors on this round.
  8. Series A$12.3M2016-12-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 4.0× larger than the prior — scaling up.
    • 10 investors on this round.
  9. Series A$8.3M2016-12-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 10 investors on this round.
  10. Series B$37.7M2019-03-01
    • Raised again after 26 mo — slower than the ~14 mo sector norm.
    • Round 4.5× larger than the prior — scaling up.
    • 12 investors on this round.
  11. Series A$8.0M2020-02-18
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round 4.7× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  12. Series B$16.0M2020-02-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.0× larger than the prior — scaling up.
    • 8 investors on this round.
  13. Series A$15.0M2020-02-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 8 investors on this round.
  14. Series B$8.5M2020-12-16
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  15. Series B$22.0M2020-12-16
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.6× larger than the prior — scaling up.
    • 3 investors on this round.
  16. Series B$17.0M2020-12-16
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
Intelligence
2021 ~Q3
Modeled next raise · ~7mo cadence
$17.0M
Modeled next size est.range $17.0M$27.2M
0.8×
Last step-up
$9.7M/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
John Edwards7 other2012-07
David L. Miller2 other2020-12
Gregory Jackson2 other2012-07
Carole L. Nuechterlein1 other2020-12
Jack L. Nielsen1 other2020-12
John G. Edwards1 other2014-06
Ronald P. Thiboutot1 other2014-06
Stephen L. Rose1 other2015-07
William D. McPhee1 other2014-06
Armond P. Dantino2019-03
Carole P. Nuechterlein2019-03
Dan D. Dorsey2020-02
Daniel L. Dorsey2020-12
David P. Miller2019-03
Dennis J. Siegel2019-03
Dennis Siegel2016-12
Edward Newill2012-07
Gary L. VanMatre2020-12
Gary P. VanMatre2020-02
Gregory D. Jackson2020-02
Gregory R. Jackson2014-06
Harold P. Mapes2019-03
Jack P. Nielsen2019-03
Jennifer L. DelPrete2020-12
Registry & provenance

MacuLogix, 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
1554897
SEC CIK
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Frequently asked
How much funding has MacuLogix, Inc. raised?
MacuLogix, Inc. has raised approximately $82.1M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is MacuLogix, Inc.'s estimated valuation?
Provath's modeled valuation for MacuLogix, Inc. is approximately $163.6M (modeled range $20.0M–$576.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is MacuLogix, Inc. at?
MacuLogix, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Wed Dec 16.
What does MacuLogix, Inc. do and where is it based?
MacuLogix, Inc. operates in the Other Health Care sector, based in Harrisburg.
Explore related

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