Companies · Restaurants

Meritage Hospitality Group Inc

GRAND RAPIDS · Restaurants

Diligence memoA one-page analyst read on Meritage Hospitality Group Inc — recommendation, valuation, rhythm, risks.
$24.9M
Total raised · real
4
Rounds
0.4×
Latest step-up
Top 5%
Sector rank · raised
Series A
Latest stage · inferred · Fri May 05 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Meritage Hospitality Group 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 restaurants 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 0.38× the median modeled value of Series A Restaurants companies in 2022–2024 (51 peers) — value vs value, same stage and era.
  • Issuer reports $100M+ revenue while modeled below niche peers.
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 Restaurants

Meritage Hospitality Group Inc is one of 2292 Restaurants companies tracked from GRAND RAPIDS. By capital raised it ranks among the largest (ahead of 96% 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.

hospitality

As reported in public records reported — not modeled.

US
Jurisdiction
$100M+
Issuer revenue
Rule 506(b)
Reg D exemption
1
Investors (latest)
2023-05-05
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$13M$25M$38M$50MSeries A · 2017-02-07 Raised $11M (real) Modeled valuation $30M (est)$11M$30MSeries A2017Series A · 2018-01-26 Raised $6.3M (real) Modeled valuation $18M (est)$6.3M$18MSeries A2018Series A · 2018-01-26 Raised $7.4M (real) Modeled valuation $21M (est)$7.4M$21MSeries A2018Series A · 2019-01-28 Raised $5.0M (real) Modeled valuation $14M (est)$5.0M$14MSeries A2019Series A · 2023-05-05 Raised $2.0M (real) Modeled valuation $4.9M (est)$2.0M$4.9MSeries A2023+$6.3M+$7.4M+$5.0M+$2.0MCumulative $31M

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 A$10.5M · 2017
Series A extension$6.3M · 2018
Series A extension$7.4M · 2018
Series A extension$5.0M · 2019
Series A extension$2.0M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — 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
$4.9M
Base estimate est.
$2.3M
Conservative case
$14.0M
Upside case
$9.1M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the restaurants sector profile. Directional, not a quoted figure.

Series A · modeled $30.1M · 2017-02-072017Series A · modeled $18.2M · 2018-01-26Series A · modeled $21.2M · 2018-01-26Series A · modeled $14.3M · 2019-01-28Series A · modeled $4.9M · 2023-05-052023
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
46%
Survival probability
25% low · 63% high
1.05×/yr
Annual markup
1.33×/yr upside case
3.2 yr
Elapsed time used
3.2 yr actual, capped for stale marks
restaurants
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
19 mo
Avg between rounds
$4.0M/yr
Capital velocity
9.4 yr
On record since
2017
First round
5
Rounds on file
How it compares to the market

Benchmarked against 2292 companies in Restaurants. 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) 28× above median
This company$24.9M
Sector median$900K
Latest round — vs other Series A rounds in sector (real $, this stage) 0.3× of median
This company$2.0M
Sector median$5.7M
Modeled value — vs sector median (estimate, all stages) 1.9× above median
This company$4.9M
Sector median$2.6M

Raised more than 96% of sector peers (real $). Modeled value above 70% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #45 of 51.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Hawk Parent LLC · Series A Raised $12.5M · modeled $30.9M (est)HHC Worldwide, Inc. · Series A Raised $12.0M · modeled $28.9M (est)7Crew Enterprises, LLC · Series A Raised $12.4M · modeled $28.7M (est)Drake's Holdings #5, LLC · Series A Raised $11.4M · modeled $28.1M (est)Nice Day Group, Inc. · Series A Raised $11.2M · modeled $27.8M (est)Cheval Brand Investors LLC · Series A Raised $10.9M · modeled $26.0M (est)10 Point Capital Mini, LLC · Series A Raised $10.3M · modeled $25.7M (est)CNP Holdings, LLC · Series A Raised $10.0M · modeled $24.5M (est)Texas Coffee Partners Ltd. · Series A Raised $10.0M · modeled $24.2M (est)Bcip Llc · Series A Raised $10.0M · modeled $24.2M (est)Odin Acquisitions LLC · Series A Raised $9.3M · modeled $23.4M (est)Mbn Brands A, Llc · Series A Raised $13.8M · modeled $23.2M (est)Meritage Hospitality Group Inc (this company) Raised $24.9M · modeled $4.9M (est)Meritage Hospitality Group Inc
CompanyStageRaised · realValue · estvs peer med.
Hawk Parent LLCSeries A$12.5M$30.9M2.35×
HHC Worldwide, Inc.Series A$12.0M$28.9M2.21×
7Crew Enterprises, LLCSeries A$12.4M$28.7M2.19×
Drake's Holdings #5, LLCSeries A$11.4M$28.1M2.14×
Nice Day Group, Inc.Series A$11.2M$27.8M2.12×
Cheval Brand Investors LLCSeries A$10.9M$26.0M1.98×
10 Point Capital Mini, LLCSeries A$10.3M$25.7M1.96×
CNP Holdings, LLCSeries A$10.0M$24.5M1.87×
Texas Coffee Partners Ltd.Series A$10.0M$24.2M1.85×
Bcip LlcSeries A$10.0M$24.2M1.84×
Odin Acquisitions LLCSeries A$9.3M$23.4M1.78×
Mbn Brands A, LlcSeries A$13.8M$23.2M1.77×
Meritage Hospitality Group Inc this companySeries A$24.9M$4.9M0.38×
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 A$10.5M2017-02-07$47.7M$30.1M90%
Series A$6.3M2018-01-26$28.9M$18.2M90%
Series A$7.4M2018-01-26$33.6M$21.2M90%
Series A$5.0M2019-01-28$22.7M$14.3M90%
Series A$2.0M2023-05-05$9.1M$4.9M90%
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 A$10.5M2017-02-07
    • First recorded raise — entered as Series A.
    • 7 investors on this round.
  2. Series A$6.3M2018-01-26
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 18 investors on this round.
  3. Series A$7.4M2018-01-26
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 21 investors on this round.
  4. Series A$5.0M2019-01-28
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  5. Series A$2.0M2023-05-05
    • Raised again after 51 mo — slower than the ~13 mo sector norm.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~19mo cadence
$2.0M
Modeled next size est.range $2.0M$3.2M
0.4×
Last step-up
$4.0M/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 A. Armbruster2023-05
Dirk J. Pruis2019-01
Duane F. Kluting2017-02
Gary A. Rose2017-02
James D. Bishop2018-01
Joseph L. Maggini2017-02
Peter D. Wierenga2017-02
Robert E. Schermer, Jr.2017-02
Robert E. Schermer, Sr.2017-02
Registry & provenance

Meritage Hospitality Group 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
808219
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
Honeygrow Restaurant Organization, LPRestaurantsSeries A$26.3M$5.7Msame sector · same stage
Clover Fast Food, Inc.RestaurantsSeries A$18.5M$4.6Msame sector · same stage
Delilah Miami, LLCRestaurantsSeries A$13.7M$5.9Msame sector · same stage
Pitbull TopCo, LLCRestaurantsSeries B$25.2M$4.7Msame sector
Crave Delivery, Inc.RestaurantsSeries A$8.3M$3.9Msame sector · same stage
American Restaurants, LLCRestaurantsSeries A$8.2M$4.4Msame sector · same stage
Prime Social Naples, LLCRestaurantsSeries A$8.1M$4.2Msame sector · same stage
Al Biernat's North, LLCRestaurantsSeries A$6.8M$4.7Msame 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
Alma Hospitality Group LLCRestaurantsSeed$10.0M87%
All-In Hospitality Group, LLCRestaurantsSeries A$13.4M86%
GBB Hospitality Group, LLCRestaurantsSeed$1.1M86%
Amergent Hospitality Group Inc.RestaurantsSeed$8.6M85%
Hathorne Partners, LLCRestaurantsSeed$5.0M85%
Prentice Hospitality Group LLCRestaurantsPre-Seed$962K85%
2627 Manor Holdings LLCRestaurantsSeed$7.0M85%
Brasserie Management, LLCRestaurantsPre-Seed$1.1M85%
Frequently asked
How much funding has Meritage Hospitality Group Inc raised?
Meritage Hospitality Group Inc has raised approximately $24.9M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Meritage Hospitality Group Inc's estimated valuation?
Provath's modeled valuation for Meritage Hospitality Group Inc is approximately $4.9M (modeled range $2.3M–$14.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Meritage Hospitality Group Inc at?
Meritage Hospitality Group Inc's latest modeled financing stage is Series A. Its most recent recorded round closed around Fri May 05.
What does Meritage Hospitality Group Inc do and where is it based?
Meritage Hospitality Group Inc operates in the Restaurants sector, based in GRAND RAPIDS.
Explore related

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