Companies · Software / Tech

Matter Labs

GEORGE TOWN, GRAND CAYMAN · Software / Tech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Matter Labs — recommendation, valuation, rhythm, risks.
$252.0M
Total raised · real
4
Rounds
19.4×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Thu Nov 03 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Matter Labs looks over-valued against its niche peers and is at-risk 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.

Over-valued
  • Modeled value is 1.61× the median modeled value of Series D+ Software / Tech companies in 2022–2024 (29 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.7 yr ago; this sector typically re-raises about every 13 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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 Software / Tech

Matter Labs is one of 3920 Software / Tech companies tracked from GEORGE TOWN, GRAND CAYMAN. 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.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
22
Investors (latest)
2019
Year incorporated
2022-11-03
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$1.3B$2.5B$3.8B$5.0BSeed · 2019-08-26 Raised $2.0M (real) Modeled valuation $68M (est)$2.0M$68MSeed2019Series B · 2021-09-20 Raised $40M (real) Modeled valuation $787M (est)$40M$787MSeries B2021Series B · 2021-11-08 Raised $10M (real) Modeled valuation $195M (est)$10M$195MSeries B2021Series D+ · 2022-11-03 Raised $200M (real) Modeled valuation $3.5B (est)$200M$3.5BSeries D+2022+$40M+$10M+$200MCumulative $252M

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$2.0M · 2019
Series B$39.7M · 2021no Series A on file
Series B extension$10.3M · 2021
Series D+$200.0M · 2022no Series C on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series A, Series C — 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
$3.5B
Base estimate est.
$1.1B
Conservative case
$5.9B
Upside case
$1.7B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $68.1M · 2019-08-262019Series B · modeled $786.6M · 2021-09-20Series B · modeled $195.2M · 2021-11-08Series D+ · modeled $3.5B · 2022-11-032022
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.29×/yr
Annual markup
1.44×/yr upside case
3.7 yr
Elapsed time used
3.7 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
13 mo
Avg between rounds
$79.0M/yr
Capital velocity
6.9 yr
On record since
2019
First round
4
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. 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) 55× above median
This company$252.0M
Sector median$4.6M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.3× above median
This company$200.0M
Sector median$150.0M
Modeled value — vs sector median (estimate, all stages) 96× above median
This company$3.5B
Sector median$36.6M

Raised more than 98% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #6 of 29.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0BCapital raised (log)Uniphore Technologies Inc. · Series D+ Raised $594.9M · modeled $7.7B (est)Capital Integration Systems LLC · Series D+ Raised $392.9M · modeled $7.3B (est)Remote Technology, Inc. · Series D+ Raised $310.1M · modeled $6.2B (est)Starburst Data, Inc. · Series D+ Raised $250.0M · modeled $5.3B (est)Aleo Systems Inc. · Series D+ Raised $221.2M · modeled $4.2B (est)Material Technologies Corp · Series D+ Raised $221.5M · modeled $3.4B (est)Mammoth Admin & Tech, LLC · Series D+ Raised $270.0M · modeled $3.4B (est)R Software Inc. · Series D+ Raised $242.0M · modeled $3.0B (est)Renew Tech One Ltd · Series D+ Raised $200.0M · modeled $2.7B (est)Monad Labs, Inc. · Series D+ Raised $258.4M · modeled $2.7B (est)Altana Technologies, Inc. · Series D+ Raised $344.1M · modeled $2.5B (est)Matter Labs (this company) Raised $252.0M · modeled $3.5B (est)Matter Labs
CompanyStageRaised · realValue · estvs peer med.
Uniphore Technologies Inc.Series D+$594.9M$7.7B3.56×
Capital Integration Systems LLCSeries D+$392.9M$7.3B3.36×
Remote Technology, Inc.Series D+$310.1M$6.2B2.83×
Starburst Data, Inc.Series D+$250.0M$5.3B2.43×
Aleo Systems Inc.Series D+$221.2M$4.2B1.93×
Matter Labs this companySeries D+$252.0M$3.5B1.61×
Material Technologies CorpSeries D+$221.5M$3.4B1.58×
Mammoth Admin & Tech, LLCSeries D+$270.0M$3.4B1.57×
R Software Inc.Series D+$242.0M$3.0B1.38×
Renew Tech One LtdSeries D+$200.0M$2.7B1.26×
Monad Labs, Inc.Series D+$258.4M$2.7B1.23×
Altana Technologies, Inc.Series D+$344.1M$2.5B1.16×
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$2.0M2019-08-26$10.0M$68.1M90%
Series B$39.7M2021-09-20$220.4M$786.6M90%
Series B$10.3M2021-11-08$57.3M$195.2M90%
Series D+$200.0M2022-11-03$1.7B$3.5B90%
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$2.0M2019-08-26
    • First recorded raise — entered as Seed.
    • 5 investors on this round.
  2. Series B$39.7M2021-09-20
    • Raised again after 25 mo — slower than the ~13 mo sector norm.
    • Round 19.8× larger than the prior — scaling up.
    • 4 investors on this round.
  3. Series B$10.3M2021-11-08
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 3.8× smaller than the prior — bridge or down round.
    • 88 investors on this round.
  4. Series D+$200.0M2022-11-03
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 19.4× larger than the prior — scaling up.
    • 22 investors on this round.
Intelligence
2023 ~Q4
Modeled next raise · ~13mo cadence
$600.0M
Modeled next size est.range $390.0M$960.0M
19.4×
Last step-up
$79.0M/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
Christopher Burniske2 other2019-08
Aleksandr Vlasov2019-08
Aleks Larsen2022-11
Alex Gluchowski2019-08
Registry & provenance

Matter Labs 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
1787989
SEC CIK
2019
Incorporated
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
Starburst Data, Inc.Software / TechSeries D+$250.0M$5.3Bsame sector · same stage
Badger Technology Co Holdings LtdSoftware / TechSeries D+$254.3M$6.5Bsame sector · same stage
Uptake Technologies, Inc.Software / TechSeries D+$255.3M$657.4Msame sector · same stage
Luminar Technologies, Inc.Software / TechSeries D+$257.3M$5.2Bsame sector · same stage
Bitmine Immersion Technologies, Inc.Software / TechSeries D+$258.3M$1.9Bsame sector · same stage
Monad Labs, Inc.Software / TechSeries D+$258.4M$2.7Bsame sector · same stage
Clearwater Analytics Holdings, Inc.Software / TechSeries D+$261.8M$2.4Bsame sector · same stage
R Software Inc.Software / TechSeries D+$242.0M$3.0Bsame sector · same stage
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
Matternet, Inc.Other TechnologySeries A$16.8M87%
Hit Labs, Inc.Software / TechSeries A$6.6M85%
Hadron LabsSoftware / TechSeries A$33.9M85%
Near Space Labs, Inc.Software / TechSeed$48.0M85%
Gaingels Matter Labs LLCSoftware / TechSeed$19.8M85%
Matter Music Inc.Media & ContentPre-Seed$3.1M84%
Qc LabsSoftware / TechSeries A$9.8M84%
Matterfi Inc.Other TechnologySeries A$150.9M83%
Frequently asked
How much funding has Matter Labs raised?
Matter Labs has raised approximately $252.0M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Matter Labs's estimated valuation?
Provath's modeled valuation for Matter Labs is approximately $3.5B (modeled range $1.1B–$5.9B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Matter Labs at?
Matter Labs's latest modeled financing stage is Series D+. Its most recent recorded round closed around Thu Nov 03.
What does Matter Labs do and where is it based?
Matter Labs operates in the Software / Tech sector, based in GEORGE TOWN, GRAND CAYMAN.
Explore related

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

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