Companies · Other

Merritt Topco, Inc.

SAN FRANCISCO · Other · https://www.topco.com/Who-We-Are/Programs

Diligence memoA one-page analyst read on Merritt Topco, Inc. — recommendation, valuation, rhythm, risks.
$1.4B
Total raised · real
2
Rounds
0.0×
Latest step-up
Top 1%
Sector rank · raised
Growth/Late
Latest stage · inferred · Wed Oct 30 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Merritt Topco, 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.

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 0.00× the median modeled value of Growth/Late Other companies in 2019–2021 (33 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.7 yr ago; this sector typically re-raises about every 11 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

Merritt Topco, Inc. is one of 25015 Other companies tracked from SAN FRANCISCO. By capital raised it ranks among the largest (ahead of 100% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Topco > Who We Are > Programs

CENTER STORE | FRESH | PHARMACY | INDIRECT SPEND | FUEL Topco uses a customer centric, data driven approach throughout the offering of exclusive brands, products and services. Topco's product and service offerings are broken down into 10 programs with highly specialized resources designed to support each of these key areas. Topco's Center Store includes the Dairy/Bakery, Frozen, Grocery, Health & Beauty Care and General Merchandise programs. Together, these areas represent more than $4.3 billion in annual volume and purchase more than 4,600 items on behalf of Topco's membership. Approximately 20,000 orders are processed through these programs each month, which procure product from more than 500 suppliers. More than 42 members participate in the Topco's Center Store Private Label sector of business. Utilizing Topco's aggregate volume, superior market knowledge, on-site inspection process, and national procurement coverage, members are able to serve as the dominant perishable merchant in their respective marketplaces in our Produce & Floral, Deli-Bakery-Foodservice, and Meat & Seafood programs. By fully utilizing Topco's market intelligence, category expertise, buying power, and crea

Find Topco > Who We Are > Programs online

Trades publicly as Topco > Who We Are > Programs.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
1
Investors (latest)
2017
Year incorporated
2019-10-30
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$12.5B$25.0B$37.5B$50.0BGrowth/Late · 2017-12-07 Raised $1.4B (real) Modeled valuation $24.2B (est)$1.4B$24.2BGrowth/Late2017Growth/Late · 2019-10-30 Raised $1.2M (real) Modeled valuation $21M (est)$1.2M$21MGrowth/Late2019+$1.2MCumulative $1.4B

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
Growth/Late$1.4B · 2017
Growth/Late extension$1.2M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C, Series D+ — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 14%.

Modeled valuation trajectory
$20.7M
Base estimate est.
$9.1M
Conservative case
$37.3M
Upside case
$11.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks. Directional, not a quoted figure.

Growth/Late · modeled $24.2B · 2017-12-072017Growth/Late · modeled $20.7M · 2019-10-302019
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
90%
Survival probability
78% low · 97% high
1.12×/yr
Annual markup
1.22×/yr upside case
6.0 yr
Elapsed time used
6.7 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
23 mo
Avg between rounds
$719.2M/yr
Capital velocity
8.6 yr
On record since
2017
First round
2
Rounds on file
How it compares to the market

Benchmarked against 25015 companies in Other. 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) 666× above median
This company$1.4B
Sector median$2.0M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 0.0× of median
This company$1.2M
Sector median$513.1M
Modeled value — vs sector median (estimate, all stages) 1.2× above median
This company$20.7M
Sector median$17.7M

Raised more than 100% of sector peers (real $). Modeled value above 54% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) 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 #33 of 33.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Mickey Barreto Missions · Growth/Late Raised $2.2B · modeled $39.5B (est)Uber Freight Holding Corp · Growth/Late Raised $2.2B · modeled $34.0B (est)Saturn Ultimate, Inc. · Growth/Late Raised $2.1B · modeled $31.5B (est)Millennium Top1 Corp · Growth/Late Raised $1.7B · modeled $26.2B (est)Bellevue Topco, Inc. · Growth/Late Raised $1.4B · modeled $25.3B (est)Tallinn Topco, Inc. · Growth/Late Raised $1.2B · modeled $20.7B (est)Dynamo Topco, Inc. · Growth/Late Raised $1.2B · modeled $18.6B (est)Torreys Topco, Inc. · Growth/Late Raised $900.6M · modeled $16.0B (est)Gainster Topco, Inc. · Growth/Late Raised $936.7M · modeled $15.7B (est)D&P US Holding Corp · Growth/Late Raised $866.0M · modeled $15.4B (est)Quibi Holdings, LLC · Growth/Late Raised $1.8B · modeled $13.3B (est)BIB Central American Card Receivables Ltd · Growth/Late Raised $700.0M · modeled $12.4B (est)Merritt Topco, Inc. (this company) Raised $1.4B · modeled $20.7M (est)Merritt Topco, Inc.
CompanyStageRaised · realValue · estvs peer med.
Mickey Barreto MissionsGrowth/Late$2.2B$39.5B4.36×
Uber Freight Holding CorpGrowth/Late$2.2B$34.0B3.75×
Saturn Ultimate, Inc.Growth/Late$2.1B$31.5B3.48×
Millennium Top1 CorpGrowth/Late$1.7B$26.2B2.89×
Bellevue Topco, Inc.Growth/Late$1.4B$25.3B2.79×
Tallinn Topco, Inc.Growth/Late$1.2B$20.7B2.28×
Dynamo Topco, Inc.Growth/Late$1.2B$18.6B2.05×
Torreys Topco, Inc.Growth/Late$900.6M$16.0B1.76×
Gainster Topco, Inc.Growth/Late$936.7M$15.7B1.74×
D&P US Holding CorpGrowth/Late$866.0M$15.4B1.70×
Quibi Holdings, LLCGrowth/Late$1.8B$13.3B1.47×
BIB Central American Card Receivables LtdGrowth/Late$700.0M$12.4B1.37×
Merritt Topco, Inc. this companyGrowth/Late$1.4B$20.7M0.00×
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.
Growth/Late$1.4B2017-12-07$13.6B$24.2B90%
Growth/Late$1.2M2019-10-30$11.7M$20.7M90%
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. Growth/Late$1.4B2017-12-07
    • First recorded raise — entered as Growth/Late.
    • 26 investors on this round.
  2. Growth/Late$1.2M2019-10-30
    • Raised again after 23 mo — slower than the ~11 mo sector norm.
    • Round 1167.6× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2021 ~Q3
Modeled next raise · ~23mo cadence
$1.2M
Modeled next size est.range $1.2M$1.9M
0.0×
Last step-up
$719.2M/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
Brian N. Sheth31 other2017-12
MANEET S. SAROYA13 other2017-12
JOHN S. STALDER1 other2017-12
AUSTIN S. MCCHORD2019-10
NADEEM N. SYED2019-10
TIMOTHY S. WELLER2019-10
Registry & provenance

Merritt Topco, 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
1724570
SEC CIK
2017
Incorporated
Recent activityActive

Discovered from topco — the partnerships, launches, hiring and press it publishes about itself. Evidence the company is alive and what it is doing now, not financial data.

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
Bellevue Topco, Inc.OtherGrowth/Late$1.4B$25.3Bnetwork3 shared operators · same sector · same stage
Papay Topco, Inc.OtherGrowth/Late$1.5B$26.6Bnetwork2 shared operators · same sector · same stage
Cersei Topco, LlcOtherGrowth/Late$853.5M$15.2Bnetwork2 shared operators · same sector · same stage
Hoya Topco, LLCOtherGrowth/Late$502.1M$8.9Bnetwork2 shared operators · same sector · same stage
Dynamo Topco, Inc.OtherGrowth/Late$1.2B$18.6Bnetwork1 shared operator · same sector · same stage
Balboa Holdings LPOtherGrowth/Late$1.6B$27.8Bnetwork1 shared operator · same sector · same stage
Disco Topco, Inc.OtherGrowth/Late$1.9B$25.0Bnetwork1 shared operator · same sector · same stage
Gainster Topco, Inc.OtherGrowth/Late$936.7M$15.7Bnetwork1 shared operator · same 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
Gainster Topco, Inc.
Topco > Contact
OtherGrowth/Late$15.7B79%
Papay Topco, Inc.
Topco > Contact
OtherGrowth/Late$26.6B79%
Bellevue Topco, Inc.
Topco > Contact
OtherGrowth/Late$25.3B78%
Torreys Topco, Inc.
Topco > Contact
OtherGrowth/Late$16.0B78%
Globetrotter Topco, Inc.
Topco > Contact
Other TechnologyGrowth/Late$28.6B77%
Emerald TopCo, Inc.
Topco > Contact
Other Health CareGrowth/Late$36.7M77%
Tallinn Topco, Inc.
Topco > Contact
OtherGrowth/Late$20.7B76%
Cv Topco LlcOtherSeries C$1.3B74%
Frequently asked
How much funding has Merritt Topco, Inc. raised?
Merritt Topco, Inc. has raised approximately $1.4B in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Merritt Topco, Inc.'s estimated valuation?
Provath's modeled valuation for Merritt Topco, Inc. is approximately $20.7M (modeled range $9.1M–$37.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Merritt Topco, Inc. at?
Merritt Topco, Inc.'s latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Wed Oct 30.
What does Merritt Topco, Inc. do and where is it based?
Merritt Topco, Inc. operates in the Other sector, based in SAN FRANCISCO. Topco > Who We Are > Programs
Explore related

See where Merritt Topco, 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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