Natcore Technology Inc. looks under-valued against its niche peers and is dormant on financing cadence.
Raised $11M across 10 disclosed rounds, last modeled as Seed (a $1.0M–$4.0M round).
Modeled value is 0.09× the median modeled value of Seed Software / Tech companies in 2016–2018 (229 peers) — value vs value, same stage and era.
Valued on the technology profile — its sector's growth and survival benchmarks differ from the market default, so the same raise is worth more or less here.
Last raise 8.2 yr ago; this sector typically re-raises about every 13 months.
Latest round stepped up 1.3× from the prior — scaling.
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 0.09× the median modeled value of Seed Software / Tech companies in 2016–2018 (229 peers) — value vs value, same stage and era.
Dormant
Last raise 8.2 yr ago; this sector typically re-raises about every 13 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 Software / Tech
Natcore Technology Inc. is one of 3920 Software / Tech companies tracked from ROCHESTER. By capital raised it ranks in the upper tier (ahead of 70% of sector peers), and in the long tail 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
10
Investors (latest)
2018-04-26
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
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$5.2M · 2009
Bridge · Series A-stage$1.7M · 2009smaller follow-on
Bridge · Series A-stage$263K · 2009smaller follow-on
Bridge · Series A-stage$263K · 2009smaller follow-on
Bridge · Series A-stage$313K · 2010smaller follow-on
Bridge · Series A-stage$313K · 2010smaller follow-on
Bridge · Series A-stage$3.0M · 2010smaller follow-on
Bridge · Series A-stage$3.0M · 2010smaller follow-on
Bridge · Series A-stage$3.0M · 2010smaller follow-on
Bridge · Series A-stage$2.5M · 2012smaller follow-on
Bridge · Series A-stage$4.0M · 2013smaller follow-on
Bridge · Series A-stage$469K · 2015smaller follow-on
Bridge · Series A-stage$3.0M · 2015smaller follow-on
Bridge · Series A-stage$285K · 2015smaller follow-on
Bridge · Series A-stage$251K · 2016smaller follow-on
Bridge · Series A-stage$254K · 2016smaller follow-on
Bridge · Series A-stage$800K · 2016smaller follow-on
Bridge · Series A-stage$137K · 2016smaller follow-on
Bridge · Series A-stage$182K · 2018smaller follow-on
Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.
Modeled valuation trajectory
$6.2M
Base estimate est.
$160K
Conservative case
$48.6M
Upside case
$909K
Modeled post-money
Round size and date are reported; the stage label is inferred from round size (latest is Seed — a $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
39%
Survival probability
18% low · 61% high
1.61×/yr
Annual markup
2.11×/yr upside case
6.0 yr
Elapsed time used
8.2 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
6 mo
Avg between rounds
$1.3M/yr
Capital velocity
17.2 yr
On record since
2009
First round
19
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)▲ 2.5× above median
This company$11.4M
Sector median$4.6M
Latest round — vs other Seed rounds in sector (real $, this stage)▼ 0.1× of median
This company$182K
Sector median$1.9M
Modeled value — vs sector median (estimate, all stages)▼ 0.2× of median
This company$6.2M
Sector median$36.6M
Raised more than 70% of sector peers (real $). Modeled value above 19% of peers (estimate).
Niche peers — same stage & era
A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled valueest. (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 #222 of 229.
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.
Stage
Amount · real
Announced
Post-money · est
Value · est
Conf.
Series A
$5.2M
2009-05-08
$23.6M
$143.8M
85%
Seed
$1.7M
2009-05-08
$8.5M
$57.9M
85%
Seed
$263K
2009-12-11
$1.3M
$8.9M
85%
Pre-Seed
$263K
2009-12-11
$1.5M
$11.1M
85%
Seed
$313K
2010-05-19
$1.6M
$10.7M
85%
Pre-Seed
$313K
2010-05-19
$1.7M
$13.3M
85%
Seed
$3.0M
2010-12-22
$15.1M
$103.2M
85%
Seed
$3.0M
2010-12-22
$15.1M
$103.2M
85%
Seed
$3.0M
2010-12-22
$15.1M
$103.2M
85%
Seed
$2.5M
2012-07-21
$12.5M
$85.2M
85%
Seed
$4.0M
2013-07-01
$20.0M
$136.3M
85%
Seed
$469K
2015-01-21
$2.3M
$16.0M
85%
Seed
$3.0M
2015-07-01
$15.0M
$102.2M
85%
Seed
$285K
2015-12-18
$1.4M
$9.7M
85%
Seed
$251K
2016-03-18
$1.3M
$8.5M
90%
Pre-Seed
$254K
2016-03-18
$1.4M
$10.8M
85%
Seed
$800K
2016-07-01
$4.0M
$27.3M
90%
Seed
$137K
2016-12-05
$683K
$4.7M
90%
Seed
$182K
2018-04-26
$909K
$6.2M
90%
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.
Series A$5.2M2009-05-08
First recorded raise — entered as Series A.
26 investors on this round.
Seed$1.7M2009-05-08
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round 3.1× smaller than the prior — bridge or down round.
77 investors on this round.
Seed$263K2009-12-11
Came back fast: 7 mo vs the ~13 mo sector norm.
Round 6.5× smaller than the prior — bridge or down round.
8 investors on this round.
Pre-Seed$263K2009-12-11
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round roughly the size of the prior one.
8 investors on this round.
Seed$313K2010-05-19
Came back fast: 5 mo vs the ~13 mo sector norm.
Round roughly the size of the prior one.
13 investors on this round.
Pre-Seed$313K2010-05-19
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round roughly the size of the prior one.
13 investors on this round.
Seed$3.0M2010-12-22
Came back fast: 7 mo vs the ~13 mo sector norm.
Round 9.7× larger than the prior — scaling up.
51 investors on this round.
Seed$3.0M2010-12-22
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round roughly the size of the prior one.
51 investors on this round.
Seed$3.0M2010-12-22
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round roughly the size of the prior one.
51 investors on this round.
Seed$2.5M2012-07-21
Raised 19 mo later, in step with the ~13 mo sector norm.
Round roughly the size of the prior one.
26 investors on this round.
Seed$4.0M2013-07-01
Raised 11 mo later, in step with the ~13 mo sector norm.
Round 1.6× larger than the prior — scaling up.
Seed$469K2015-01-21
Raised 19 mo later, in step with the ~13 mo sector norm.
Round 8.5× smaller than the prior — bridge or down round.
Switched to Rule 506(b) (was Rule 06).
17 investors on this round.
Seed$3.0M2015-07-01
Came back fast: 5 mo vs the ~13 mo sector norm.
Round 6.4× larger than the prior — scaling up.
Seed$285K2015-12-18
Came back fast: 6 mo vs the ~13 mo sector norm.
Round 10.5× smaller than the prior — bridge or down round.
12 investors on this round.
Seed$251K2016-03-18
Came back fast: 3 mo vs the ~13 mo sector norm.
Round roughly the size of the prior one.
7 investors on this round.
Pre-Seed$254K2016-03-18
Filed alongside the prior round (same month) — likely a tranche or amendment.
Round roughly the size of the prior one.
7 investors on this round.
Seed$800K2016-07-01
Came back fast: 3 mo vs the ~13 mo sector norm.
Round 3.2× larger than the prior — scaling up.
Seed$137K2016-12-05
Came back fast: 5 mo vs the ~13 mo sector norm.
Round 5.9× smaller than the prior — bridge or down round.
6 investors on this round.
Seed$182K2018-04-26
Raised 17 mo later, in step with the ~13 mo sector norm.
Round 1.3× larger than the prior — scaling up.
10 investors on this round.
Intelligence
2018 ~Q4
Modeled next raise · ~6mo cadence
$242K
Modeled next size est.range $182K–$387K
1.3×
Last step-up
$1.3M/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.
Natcore Technology 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
1464623
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.
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.
How much funding has Natcore Technology Inc. raised?
Natcore Technology Inc. has raised approximately $11.4M in disclosed capital across 10 recorded financing rounds, aggregated from public filings.
What is Natcore Technology Inc.'s estimated valuation?
Provath's modeled valuation for Natcore Technology Inc. is approximately $6.2M (modeled range $160K–$48.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Natcore Technology Inc. at?
Natcore Technology Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Thu Apr 26.
What does Natcore Technology Inc. do and where is it based?
Natcore Technology Inc. operates in the Software / Tech sector, based in ROCHESTER.
Explore related
See where Natcore Technology Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
If you work at Natcore Technology Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.