Companies · Medical Devices

Minerva Surgical Inc

Santa Clara · Medical Devices · refined from filed group “Other Health Care

Diligence memoA one-page analyst read on Minerva Surgical Inc — recommendation, valuation, rhythm, risks.
$167.3M
Total raised · real
13
Rounds
1.5×
Latest step-up
Top 2%
Sector rank · raised
Series B
Latest stage · inferred · Mon May 11 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Minerva Surgical Inc looks fair 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. Valuation uses the medical devices 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 0.97× the median modeled value of Series B Medical Devices companies in 2019–2021 (10 peers) — value vs value, same stage and era.
  • Within the normal band (97% of peer median) for its niche.
Dormant
  • Last raise 6.1 yr ago; this sector typically re-raises about every 16 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 Medical Devices

Minerva Surgical Inc is one of 233 Medical Devices companies tracked from Santa Clara. By capital raised it ranks among the largest (ahead of 99% 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.

medical-devices

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
14
Investors (latest)
2020-05-11
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$250M$500M$750M$1.0BPre-Seed · 2010-01-15 Raised $1.0M (real) Modeled valuation $37M (est)Pre-Seed2010Series A · 2010-02-12 Raised $6.0M (real) Modeled valuation $145M (est)Series A2010Series A · 2010-11-08 Raised $2.0M (real) Modeled valuation $48M (est)Series A2010Series A · 2011-03-14 Raised $1.5M (real) Modeled valuation $36M (est)Series A2011Series B · 2011-05-18 Raised $26M (real) Modeled valuation $693M (est)Series B2011Series B · 2012-12-19 Raised $20M (real) Modeled valuation $530M (est)Series B2012Series B · 2014-09-12 Raised $26M (real) Modeled valuation $676M (est)Series B2014Series B · 2015-12-23 Raised $15M (real) Modeled valuation $397M (est)Series B2015Series B · 2016-12-16 Raised $17M (real) Modeled valuation $443M (est)Series B2016Series B · 2018-03-07 Raised $10M (real) Modeled valuation $265M (est)Series B2018Series B · 2018-12-21 Raised $9.2M (real) Modeled valuation $244M (est)Series B2018Series B · 2019-05-06 Raised $10M (real) Modeled valuation $271M (est)Series B2019Series B · 2019-11-22 Raised $10M (real) Modeled valuation $265M (est)Series B2019Series B · 2020-05-11 Raised $15M (real) Modeled valuation $397M (est)Series B2020Cumulative $168M

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$1.0M · 2010
Series A$6.0M · 2010no Seed on file
Series A extension$2.0M · 2010
Series A extension$1.5M · 2011
Series B$26.2M · 2011
Series B extension$20.0M · 2012
Series B extension$25.5M · 2014
Series B extension$15.0M · 2015
Series B extension$16.7M · 2016
Series B extension$10.0M · 2018
Series B extension$9.2M · 2018
Series B extension$10.2M · 2019
Series B extension$10.0M · 2019
Series B extension$15.0M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 75%.

Modeled valuation trajectory
$397.4M
Base estimate est.
$33.8M
Conservative case
$1.5B
Upside case
$83.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the medical devices sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $36.9M · 2010-01-152010Series A · modeled $144.8M · 2010-02-12Series A · modeled $48.3M · 2010-11-08Series A · modeled $36.2M · 2011-03-14Series B · modeled $693.3M · 2011-05-18Series B · modeled $529.8M · 2012-12-19Series B · modeled $676.0M · 2014-09-12Series B · modeled $397.4M · 2015-12-23Series B · modeled $443.0M · 2016-12-16Series B · modeled $264.9M · 2018-03-07Series B · modeled $243.7M · 2018-12-21Series B · modeled $271.0M · 2019-05-06Series B · modeled $264.9M · 2019-11-22Series B · modeled $397.4M · 2020-05-112020
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
61%
Survival probability
41% low · 75% high
1.41×/yr
Annual markup
1.71×/yr upside case
6.0 yr
Elapsed time used
6.1 yr actual, capped for stale marks
medical devices
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
10 mo
Avg between rounds
$16.2M/yr
Capital velocity
16.5 yr
On record since
2010
First round
14
Rounds on file
How it compares to the market

Benchmarked against 233 companies in Medical Devices. 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) 65× above median
This company$167.3M
Sector median$2.6M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.9× of median
This company$15.0M
Sector median$16.7M
Modeled value — vs sector median (estimate, all stages) 26× above median
This company$397.4M
Sector median$15.4M

Raised more than 99% of sector peers (real $). Modeled value above 96% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) 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 10.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Envision Diagnostics, Inc. · Series B Raised $29.6M · modeled $625.0M (est)Onkos Surgical, Inc. · Series B Raised $72.3M · modeled $595.7M (est)Regent Surgical Health Topco, L.P. · Series B Raised $23.7M · modeled $498.4M (est)Specific Diagnostics, Inc. · Series B Raised $17.5M · modeled $463.6M (est)Covenant Surgical Holdings L.P. · Series B Raised $22.7M · modeled $425.9M (est)Centaur Diagnostics, Inc. · Series B Raised $15.9M · modeled $291.1M (est)Celsee Diagnostics, Inc. · Series B Raised $40.5M · modeled $135.3M (est)Bardy Diagnostics, Inc. · Series B Raised $89.8M · modeled $11.9M (est)Bolder Surgical Holdings, Inc. · Series B Raised $18.2M · modeled $5.1M (est)Minerva Surgical Inc (this company) Raised $167.3M · modeled $397.4M (est)Minerva Surgical Inc
CompanyStageRaised · realValue · estvs peer med.
Envision Diagnostics, Inc.Series B$29.6M$625.0M1.52×
Onkos Surgical, Inc.Series B$72.3M$595.7M1.45×
Regent Surgical Health Topco, L.P.Series B$23.7M$498.4M1.21×
Specific Diagnostics, Inc.Series B$17.5M$463.6M1.13×
Covenant Surgical Holdings L.P.Series B$22.7M$425.9M1.03×
Minerva Surgical Inc this companySeries B$167.3M$397.4M0.97×
Centaur Diagnostics, Inc.Series B$15.9M$291.1M0.71×
Celsee Diagnostics, Inc.Series B$40.5M$135.3M0.33×
Bardy Diagnostics, Inc.Series B$89.8M$11.9M0.03×
Bolder Surgical Holdings, Inc.Series B$18.2M$5.1M0.01×
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$1.0M2010-01-15$5.6M$36.9M85%
Series A$6.0M2010-02-12$27.3M$144.8M85%
Series A$2.0M2010-11-08$9.1M$48.3M85%
Series A$1.5M2011-03-14$6.8M$36.2M85%
Series B$26.2M2011-05-18$145.4M$693.3M85%
Series B$20.0M2012-12-19$111.1M$529.8M85%
Series B$25.5M2014-09-12$141.8M$676.0M85%
Series B$15.0M2015-12-23$83.3M$397.4M85%
Series B$16.7M2016-12-16$92.9M$443.0M90%
Series B$10.0M2018-03-07$55.6M$264.9M90%
Series B$9.2M2018-12-21$51.1M$243.7M90%
Series B$10.2M2019-05-06$56.8M$271.0M90%
Series B$10.0M2019-11-22$55.6M$264.9M90%
Series B$15.0M2020-05-11$83.3M$397.4M90%
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$1.0M2010-01-15
    • First recorded raise — entered as Pre-Seed.
    • 20 investors on this round.
  2. Series A$6.0M2010-02-12
    • Came back fast: 1 mo vs the ~16 mo sector norm.
    • Round 6.0× larger than the prior — scaling up.
    • 24 investors on this round.
  3. Series A$2.0M2010-11-08
    • Came back fast: 9 mo vs the ~16 mo sector norm.
    • Round 3.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  4. Series A$1.5M2011-03-14
    • Came back fast: 4 mo vs the ~16 mo sector norm.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  5. Series B$26.2M2011-05-18
    • Came back fast: 2 mo vs the ~16 mo sector norm.
    • Round 17.4× larger than the prior — scaling up.
    • 19 investors on this round.
  6. Series B$20.0M2012-12-19
    • Raised 19 mo later, in step with the ~16 mo sector norm.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 19 investors on this round.
  7. Series B$25.5M2014-09-12
    • Raised 21 mo later, in step with the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 06).
    • 26 investors on this round.
  8. Series B$15.0M2015-12-23
    • Raised 15 mo later, in step with the ~16 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 25 investors on this round.
  9. Series B$16.7M2016-12-16
    • Raised 12 mo later, in step with the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • 18 investors on this round.
  10. Series B$10.0M2018-03-07
    • Raised 15 mo later, in step with the ~16 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 21 investors on this round.
  11. Series B$9.2M2018-12-21
    • Came back fast: 9 mo vs the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • 17 investors on this round.
  12. Series B$10.2M2019-05-06
    • Came back fast: 4 mo vs the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • 25 investors on this round.
  13. Series B$10.0M2019-11-22
    • Came back fast: 7 mo vs the ~16 mo sector norm.
    • Round roughly the size of the prior one.
    • 16 investors on this round.
  14. Series B$15.0M2020-05-11
    • Came back fast: 6 mo vs the ~16 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 14 investors on this round.
Intelligence
2021 ~Q1
Modeled next raise · ~10mo cadence
$22.5M
Modeled next size est.range $15.0M$36.0M
1.5×
Last step-up
$16.2M/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
Robert Anderson23 other2010-01
Ali Behbahani16 other2011-05
John Nehra10 other2010-11
Albert Cha8 other2014-09
Csaba Truckai6 other2010-01
Ross Jaffe6 other2011-05
David Clapper5 other2011-05
Robert K. Anderson5 other2016-12
Rodney Perkins5 other2010-01
David Auth4 other2010-01
Bruno Strul2 other2010-01
David Renzi1 other2020-05
Albert K. Cha2016-12
Ali K. Behbahani2018-03
Ali K. Behbani2016-12
Bruno K. Strul2016-12
Csaba K. Truckai2016-12
David K. Auth2016-12
David K. Renzi2016-12
Rodney K. Perkins2016-12
Ross K. Jaffe2016-12
Registry & provenance

Minerva Surgical 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
1452965
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
Dfine IncOtherSeries B$77.3M$290.6Mnetwork3 shared operators · same stage
Iogyn, Inc.Other Health CareSeries A$5.0M$100.9Mnetwork4 shared operators
Relign CorpOtherSeries B$30.1M$499.5Mnetwork3 shared operators · same stage
Neotract IncOther Health CareSeries C$117.5M$293.0Mnetwork3 shared operators
Rotation Medical IncOther Health CareSeries B$51.1M$177.2Mnetwork2 shared operators · same stage
Neomend IncOther Health CareSeries B$48.9M$221.5Mnetwork2 shared operators · same stage
ExploraMed NC7, Inc.Other Health CareSeries C$181.5M$752.1Mnetwork2 shared operators
Moximed, IncOther Health CareSeries C$187.8M$499.6Mnetwork2 shared operators
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
Connecticut Surgical Center, LLCMedical DevicesPre-Seed$4.6M86%
Think Surgical, Inc.Medical DevicesSeries D+$88.5M85%
ReadySet Surgical, Inc.Medical DevicesSeries A$7.6M84%
IC Surgical, Inc.Medical DevicesPre-Seed$5.5M84%
Surgical Innovation Associates Inc.Medical DevicesSeries A$86.9M84%
Surgical Center of Connecticut, LLCMedical DevicesPre-Seed$578K84%
Vega Surgical, Inc.Medical DevicesPre-Seed$1.3M84%
Saratoga Surgical Center, LLCHospitals and PhysiciansPre-Seed$11.5M83%
Frequently asked
How much funding has Minerva Surgical Inc raised?
Minerva Surgical Inc has raised approximately $167.3M in disclosed capital across 13 recorded financing rounds, aggregated from public filings.
What is Minerva Surgical Inc's estimated valuation?
Provath's modeled valuation for Minerva Surgical Inc is approximately $397.4M (modeled range $33.8M–$1.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Minerva Surgical Inc at?
Minerva Surgical Inc's latest modeled financing stage is Series B. Its most recent recorded round closed around Mon May 11.
What does Minerva Surgical Inc do and where is it based?
Minerva Surgical Inc operates in the Medical Devices sector, based in Santa Clara.
Explore related

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

Is this your company?

If you work at Minerva Surgical Inc, claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.