Companies · Software / Tech

Medicine Man Technologies, Inc.

DENVER · Software / Tech · refined from filed group “Other

Diligence memoA one-page analyst read on Medicine Man Technologies, Inc. — recommendation, valuation, rhythm, risks.
$197.1M
Total raised · real
12
Rounds
2.9×
Latest step-up
Top 3%
Sector rank · raised
Series C
Latest stage · inferred · Fri Apr 21 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Medicine Man Technologies, Inc. looks under-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.

Under-valued
  • Modeled value is 0.34× the median modeled value of Series C Software / Tech companies in 2022–2024 (55 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.2 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

Medicine Man Technologies, Inc. is one of 3920 Software / Tech companies tracked from DENVER. By capital raised it ranks among the largest (ahead of 98% 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
1
Investors (latest)
2023-04-21
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$500M$1.0B$1.5B$2.0BPre-Seed · 2014-10-20 Raised $210K (real) Modeled valuation $8.9M (est)Pre-Seed2014Pre-Seed · 2014-10-20 Raised $270K (real) Modeled valuation $11M (est)Pre-Seed2014Pre-Seed · 2014-10-20 Raised $210K (real) Modeled valuation $8.9M (est)Pre-Seed2014Pre-Seed · 2016-08-10 Raised $500K (real) Modeled valuation $21M (est)Pre-Seed2016Pre-Seed · 2017-08-29 Raised $1.0M (real) Modeled valuation $42M (est)Pre-Seed2017Seed · 2019-06-05 Raised $3.0M (real) Modeled valuation $102M (est)Seed2019Series B · 2020-12-16 Raised $15M (real) Modeled valuation $401M (est)Series B2020Series C · 2020-12-16 Raised $54M (real) Modeled valuation $1.5B (est)Series C2020Series C · 2021-07-21 Raised $4.8M (real) Modeled valuation $111M (est)Series C2021Series C · 2021-12-03 Raised $95M (real) Modeled valuation $1.9B (est)Series C2021Series C · 2022-02-09 Raised $12M (real) Modeled valuation $224M (est)Series C2022Series C · 2022-03-11 Raised $1.9M (real) Modeled valuation $36M (est)Series C2022Series C · 2023-01-25 Raised $3.8M (real) Modeled valuation $54M (est)Series C2023Series C · 2023-04-13 Raised $5.5M (real) Modeled valuation $75M (est)Series C2023Series C · 2023-04-21 Raised $16M (real) Modeled valuation $215M (est)Series C2023Cumulative $213M

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$210K · 2014
Pre-Seed extension$270K · 2014
Pre-Seed extension$210K · 2014
Pre-Seed extension$500K · 2016
Pre-Seed extension$1.0M · 2017
Seed$3.0M · 2019
Series B$15.4M · 2020no Series A on file
Series C$53.7M · 2020
Series C extension$4.8M · 2021
Series C extension$95.0M · 2021
Series C extension$11.6M · 2022
Series C extension$1.9M · 2022
Series C extension$3.8M · 2023
Series C extension$5.5M · 2023
Series C extension$16.0M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 80%.

Modeled valuation trajectory
$215.0M
Base estimate est.
$60.6M
Conservative case
$385.2M
Upside case
$106.7M
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.

Pre-Seed · modeled $8.9M · 2014-10-202014Pre-Seed · modeled $11.4M · 2014-10-20Pre-Seed · modeled $8.9M · 2014-10-20Pre-Seed · modeled $21.2M · 2016-08-10Pre-Seed · modeled $42.4M · 2017-08-29Seed · modeled $102.2M · 2019-06-05Series B · modeled $400.5M · 2020-12-16Series C · modeled $1.5B · 2020-12-16Series C · modeled $110.6M · 2021-07-21Series C · modeled $1.9B · 2021-12-03Series C · modeled $223.9M · 2022-02-09Series C · modeled $35.8M · 2022-03-11Series C · modeled $54.1M · 2023-01-25Series C · modeled $75.0M · 2023-04-13Series C · modeled $215.0M · 2023-04-212023
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
3.2 yr
Elapsed time used
3.2 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$23.2M/yr
Capital velocity
11.7 yr
On record since
2014
First round
15
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) 43× above median
This company$197.1M
Sector median$4.6M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.3× of median
This company$16.0M
Sector median$51.0M
Modeled value — vs sector median (estimate, all stages) 5.9× above median
This company$215.0M
Sector median$36.6M

Raised more than 98% of sector peers (real $). Modeled value above 83% 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 #48 of 55.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Pinecone Systems, Inc. · Series C Raised $128.2M · modeled $1.4B (est)Hydration Labs, Inc. · Series C Raised $135.0M · modeled $1.3B (est)SiMa Technologies, Inc. · Series C Raised $167.8M · modeled $1.3B (est)Atlas Technology Solutions Inc. · Series C Raised $95.0M · modeled $1.2B (est)Pascaline Systems, Inc. · Series C Raised $106.0M · modeled $1.2B (est)Innovative Data Processing Solutions LLC · Series C Raised $60.0M · modeled $1.2B (est)Dura Software, Inc. · Series C Raised $101.1M · modeled $1.1B (est)Voyager Digital Ltd. · Series C Raised $145.4M · modeled $1.1B (est)Workstream Technologies, Inc. · Series C Raised $107.9M · modeled $1.0B (est)Parry Labs Holdings, LLC · Series C Raised $90.7M · modeled $995.0M (est)Mobix Labs, Inc · Series C Raised $100.0M · modeled $990.0M (est)Databook Labs, Inc. · Series C Raised $71.4M · modeled $968.9M (est)Medicine Man Technologies, Inc. (this company) Raised $197.1M · modeled $215.0M (est)Medicine Man Technologies, Inc.
CompanyStageRaised · realValue · estvs peer med.
Pinecone Systems, Inc.Series C$128.2M$1.4B2.12×
Hydration Labs, Inc.Series C$135.0M$1.3B1.99×
SiMa Technologies, Inc.Series C$167.8M$1.3B1.96×
Atlas Technology Solutions Inc.Series C$95.0M$1.2B1.89×
Pascaline Systems, Inc.Series C$106.0M$1.2B1.83×
Innovative Data Processing Solutions LLCSeries C$60.0M$1.2B1.82×
Dura Software, Inc.Series C$101.1M$1.1B1.78×
Voyager Digital Ltd.Series C$145.4M$1.1B1.67×
Workstream Technologies, Inc.Series C$107.9M$1.0B1.60×
Parry Labs Holdings, LLCSeries C$90.7M$995.0M1.56×
Mobix Labs, IncSeries C$100.0M$990.0M1.55×
Databook Labs, Inc.Series C$71.4M$968.9M1.52×
Medicine Man Technologies, Inc. this companySeries C$197.1M$215.0M0.34×
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$210K2014-10-20$1.2M$8.9M85%
Pre-Seed$270K2014-10-20$1.5M$11.4M85%
Pre-Seed$210K2014-10-20$1.2M$8.9M85%
Pre-Seed$500K2016-08-10$2.8M$21.2M90%
Pre-Seed$1.0M2017-08-29$5.6M$42.4M90%
Seed$3.0M2019-06-05$15.0M$102.2M90%
Series B$15.4M2020-12-16$85.8M$400.5M90%
Series C$53.7M2020-12-16$358.0M$1.5B90%
Series C$4.8M2021-07-21$32.3M$110.6M90%
Series C$95.0M2021-12-03$633.3M$1.9B90%
Series C$11.6M2022-02-09$77.3M$223.9M90%
Series C$1.9M2022-03-11$12.7M$35.8M90%
Series C$3.8M2023-01-25$25.0M$54.1M90%
Series C$5.5M2023-04-13$37.0M$75.0M90%
Series C$16.0M2023-04-21$106.7M$215.0M90%
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$210K2014-10-20
    • First recorded raise — entered as Pre-Seed.
    • 21 investors on this round.
  2. Pre-Seed$270K2014-10-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • Switched to Rule 505 (was Rule 506(b)).
    • 23 investors on this round.
  3. Pre-Seed$210K2014-10-20
    • 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 505).
    • 21 investors on this round.
  4. Pre-Seed$500K2016-08-10
    • Raised again after 22 mo — slower than the ~13 mo sector norm.
    • Round 2.4× larger than the prior — scaling up.
    • 4 investors on this round.
  5. Pre-Seed$1.0M2017-08-29
    • Raised 13 mo later, in step with the ~13 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • 1 investor on this round.
  6. Seed$3.0M2019-06-05
    • Raised again after 21 mo — slower than the ~13 mo sector norm.
    • Round 3.0× larger than the prior — scaling up.
    • 1 investor on this round.
  7. Series B$15.4M2020-12-16
    • Raised 18 mo later, in step with the ~13 mo sector norm.
    • Round 5.2× larger than the prior — scaling up.
    • 2 investors on this round.
  8. Series C$53.7M2020-12-16
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.5× larger than the prior — scaling up.
    • 13 investors on this round.
  9. Series C$4.8M2021-07-21
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 11.1× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  10. Series C$95.0M2021-12-03
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round 19.6× larger than the prior — scaling up.
    • 31 investors on this round.
  11. Series C$11.6M2022-02-09
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 8.2× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  12. Series C$1.9M2022-03-11
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round 6.1× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  13. Series C$3.8M2023-01-25
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • 3 investors on this round.
  14. Series C$5.5M2023-04-13
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 1 investor on this round.
  15. Series C$16.0M2023-04-21
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.9× larger than the prior — scaling up.
    • 1 investor on this round.
Intelligence
2023 ~Q4
Modeled next raise · ~7mo cadence
$46.2M
Modeled next size est.range $30.0M$73.9M
2.9×
Last step-up
$23.2M/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
Andrew Williams6 other2014-10
Wei Wang6 other2014-10
Marc Rubin5 other2023-01
Christine Jones4 other2023-04
Andrew C. Williams1 other2017-08
Brad Stewart1 other2023-04
Brett Roper1 other2014-10
Justin Dye1 other2020-12
Leonardo Riera1 other2020-12
Bradley Stewart2023-04
Brian Ruden2020-12
Charles C. Haupt2017-08
Daniel Pabon2021-12
Dan Pabon2020-12
Forrest Hoffmaster2023-01
James C. Toreson2017-08
James S. Toreson2016-08
Jeffrey Cozad2020-12
Jeffrey Garwood2020-12
Jonathan Berger2021-12
Jonathan Sandberg2017-08
Joseph P. Puglise2019-06
Joshua Haupt2017-08
Joshua P. Haupt2019-06
Registry & provenance

Medicine Man Technologies, 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
1622879
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
Wisa Technologies, Inc.Software / TechSeries C$191.2M$185.3Msame sector · same stage
Infusion Software IncSoftware / TechSeries C$129.5M$151.9Msame sector · same stage
bloXroute Labs, Inc.Software / TechSeries C$118.7M$133.7Msame sector · same stage
Upway Technologies, Inc.Software / TechSeries C$102.3M$288.3Msame sector · same stage
EBR Systems, Inc.Software / TechSeries C$89.6M$203.3Msame sector · same stage
frame.io, inc.Software / TechSeries C$69.8M$191.3Msame sector · same stage
Lydian Labs, Inc.Software / TechSeries C$60.8M$261.4Msame sector · same stage
Lumin Digital, Inc.Software / TechSeries D+$186.6M$198.6Msame sector
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
Medicom Technologies, Inc.Software / TechSeries B$74.6M84%
Medicom Digital, Inc.Software / TechSeed$3.6M82%
Medici Technologies, LLCSoftware / TechSeries B$618.6M82%
SomnoMed Technologies Inc.Software / TechPre-Seed$3.7M82%
Physician Software Systems, LLCSoftware / TechSeries A$28.8M82%
Digital Medical Tech, Inc.HealthtechSeed$82.0M81%
Mending Health, Inc.HealthtechSeries B$88.6M81%
My One Medical Source Inc.HealthtechSeries A$17.5M80%
Frequently asked
How much funding has Medicine Man Technologies, Inc. raised?
Medicine Man Technologies, Inc. has raised approximately $197.1M in disclosed capital across 12 recorded financing rounds, aggregated from public filings.
What is Medicine Man Technologies, Inc.'s estimated valuation?
Provath's modeled valuation for Medicine Man Technologies, Inc. is approximately $215.0M (modeled range $60.6M–$385.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Medicine Man Technologies, Inc. at?
Medicine Man Technologies, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Apr 21.
What does Medicine Man Technologies, Inc. do and where is it based?
Medicine Man Technologies, Inc. operates in the Software / Tech sector, based in DENVER.
Explore related

See where Medicine Man Technologies, 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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