Companies · Software / Tech

Mercury Technologies, Inc.

SAN FRANCISCO · Software / Tech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Mercury Technologies, Inc. — recommendation, valuation, rhythm, risks.
$221.3M
Total raised · real
2
Rounds
9.4×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Mar 21 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Mercury Technologies, Inc. looks fair against its niche peers and is active 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.

Fair
  • Modeled value is 1.41× the median modeled value of Series D+ Software / Tech companies in 2025–2027 (22 peers) — value vs value, same stage and era.
  • Within the normal band (141% of peer median) for its niche.
Active
  • Last raise 15 mo ago; this sector typically re-raises about every 13 months.
  • Raising on or ahead of the sector's normal rhythm.
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

Mercury Technologies, Inc. is one of 3920 Software / Tech companies tracked from SAN FRANCISCO. 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
6
Investors (latest)
2025-03-21
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$2.0BSeries B · 2019-07-23 Raised $21M (real) Modeled valuation $648M (est)$21M$648MSeries B2019Series D+ · 2025-03-21 Raised $200M (real) Modeled valuation $1.9B (est)$200M$1.9BSeries D+2025+$200MCumulative $221M

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$21.3M · 2019
Series D+$200.0M · 2025no Series C on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, 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: 33%.

Modeled valuation trajectory
$1.9B
Base estimate est.
$1.1B
Conservative case
$2.5B
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.

Series B · modeled $648.4M · 2019-07-232019Series D+ · modeled $1.9B · 2025-03-212025
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
1.3 yr
Elapsed time used
1.3 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
68 mo
Avg between rounds
$39.1M/yr
Capital velocity
6.9 yr
On record since
2019
First round
2
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) 48× above median
This company$221.3M
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) 52× above median
This company$1.9B
Sector median$36.6M

Raised more than 98% of sector peers (real $). Modeled value above 98% 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 #4 of 22.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0B$10.0BCapital raised (log)Saronic Technologies, Inc. · Series D+ Raised $523.3M · modeled $3.4B (est)Mercor.io Corp · Series D+ Raised $468.6M · modeled $2.8B (est)Clearwater Analytics Holdings, Inc. · Series D+ Raised $261.8M · modeled $2.4B (est)Bitmine Immersion Technologies, Inc. · Series D+ Raised $258.3M · modeled $1.9B (est)Elise A.I. Technologies Corp. · Series D+ Raised $320.9M · modeled $1.8B (est)Ontic Technologies, Inc. · Series D+ Raised $196.4M · modeled $1.6B (est)Luminary Cloud, Inc. · Series D+ Raised $187.0M · modeled $1.5B (est)Bancar Technologies Ltd · Series D+ Raised $1.1B · modeled $1.5B (est)Oxide Computer Co · Series D+ Raised $265.2M · modeled $1.5B (est)Motive Technologies, Inc. · Series D+ Raised $408.0M · modeled $1.4B (est)Starburst Labs, Inc. · Series D+ Raised $178.3M · modeled $1.3B (est)Mercury Technologies, Inc. (this company) Raised $221.3M · modeled $1.9B (est)Mercury Technologies, Inc.
CompanyStageRaised · realValue · estvs peer med.
Saronic Technologies, Inc.Series D+$523.3M$3.4B2.51×
Mercor.io CorpSeries D+$468.6M$2.8B2.02×
Clearwater Analytics Holdings, Inc.Series D+$261.8M$2.4B1.79×
Mercury Technologies, Inc. this companySeries D+$221.3M$1.9B1.41×
Bitmine Immersion Technologies, Inc.Series D+$258.3M$1.9B1.40×
Elise A.I. Technologies Corp.Series D+$320.9M$1.8B1.34×
Ontic Technologies, Inc.Series D+$196.4M$1.6B1.20×
Luminary Cloud, Inc.Series D+$187.0M$1.5B1.13×
Bancar Technologies LtdSeries D+$1.1B$1.5B1.10×
Oxide Computer CoSeries D+$265.2M$1.5B1.07×
Motive Technologies, Inc.Series D+$408.0M$1.4B1.01×
Starburst Labs, Inc.Series D+$178.3M$1.3B0.99×
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$21.3M2019-07-23$118.3M$648.4M90%
Series D+$200.0M2025-03-21$1.7B$1.9B90%
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$21.3M2019-07-23
    • First recorded raise — entered as Series B.
    • 85 investors on this round.
  2. Series D+$200.0M2025-03-21
    • Raised again after 68 mo — slower than the ~13 mo sector norm.
    • Round 9.4× larger than the prior — scaling up.
    • 6 investors on this round.
Intelligence
2030 ~Q4
Modeled next raise · ~68mo cadence
$600.0M
Modeled next size est.range $390.0M$960.0M
9.4×
Last step-up
$39.1M/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
Saar Gur7 other2019-07
Sonya Huang3 other2025-03
Tom Brown3 other2025-03
Jason Zhang2 other2025-03
Immad Akhund1 other2019-07
Registry & provenance

Mercury 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
1719932
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
Material Technologies CorpSoftware / TechSeries D+$221.5M$3.4Bsame sector · same stage
Looker Data Sciences, Inc.Software / TechSeries D+$232.4M$3.3Bsame sector · same stage
Halcyon Tech, Inc.Software / TechSeries D+$207.5M$1.3Bsame sector · same stage
R Software Inc.Software / TechSeries D+$242.0M$3.0Bsame sector · same stage
Renew Tech One LtdSoftware / TechSeries D+$200.0M$2.7Bsame sector · same stage
Ontic Technologies, Inc.Software / TechSeries D+$196.4M$1.6Bsame sector · same stage
Uptake Technologies, Inc.Software / TechSeries D+$255.3M$657.4Msame sector · same stage
Bitmine Immersion Technologies, Inc.Software / TechSeries D+$258.3M$1.9Bsame 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
H Technologies Inc.Software / TechSeries A$136.2M86%
Mero Technologies Inc.Software / TechPre-Seed$11.0M86%
Mercury InvestCo, LLCOther TechnologySeed$22.5M85%
Mercury Holdings 2021 LLCOther TechnologySeries A$167.8M84%
Elements Technology, Inc.Software / TechSeries A$46.2M84%
Geneva Technologies, Inc.Software / TechSeries B$220.2M82%
Marvell Technology, Inc.Software / TechGrowth/Late$1.9B82%
Planetary Computers Inc.Software / TechPre-Seed$5.9M82%
Frequently asked
How much funding has Mercury Technologies, Inc. raised?
Mercury Technologies, Inc. has raised approximately $221.3M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Mercury Technologies, Inc.'s estimated valuation?
Provath's modeled valuation for Mercury Technologies, Inc. is approximately $1.9B (modeled range $1.1B–$2.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Mercury Technologies, Inc. at?
Mercury Technologies, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Mar 21.
What does Mercury Technologies, Inc. do and where is it based?
Mercury Technologies, Inc. operates in the Software / Tech sector, based in SAN FRANCISCO.
Explore related

See where Mercury 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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