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Diligence memoA one-page analyst read on Neptune Topco Holdings, LLC — recommendation, valuation, rhythm, risks.→Neptune Topco Holdings, LLC has raised $168M over 21 rounds; too few niche peers to rank its valuation yet.
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.
Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.
Neptune Topco Holdings, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.
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.
Neptune Topco Holdings, LLC is one of 25015 Other companies tracked from Fort Worth. By capital raised it ranks among the largest (ahead of 98% 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.
As reported in public records reported — not modeled.
This issuer has a dense recurring filing history, so the chart groups filings by year. Solid bars are annual reported capital reported; hatched bars show the latest modeled value est. observed in that year. Use the toggles to overlay data labels and the niche-peer / market average value lines.
Dense history compressed: 21 filings shown as 5 yearly buckets. Hover a bucket for filing count, annual capital, and latest modeled value.
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.
This looks like a recurring offering series, so a VC stage ladder would be misleading. Showing the filed offering sequence instead.
This issuer files recurring offerings, so the model treats stage labels as a loose sizing heuristic, not a clean VC ladder. The estimate anchors on reported filing amounts and dates, then applies benchmark dilution, survival, and markup assumptions. Directional, not a quoted figure.
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.
Raised more than 98% of sector peers (real $). Modeled value above 40% of peers (estimate).
This issuer files too frequently for VC stage labels to be meaningful, so rows are shown as initial/follow-on offerings est. instead of Pre-Seed/Seed/Series buckets.
| Stage | Amount · real | Announced | Post-money · est | Value · est | Conf. |
|---|---|---|---|---|---|
| Initial offering | $557K | 2021-02-03 | $3.1M | $9.9M | 90% |
| Follow-on offering | $24.0M | 2021-11-29 | $133.3M | $281.4M | 90% |
| Follow-on offering | $3.6M | 2021-11-30 | $20.0M | $42.1M | 90% |
| Follow-on offering | $130K | 2021-12-31 | $722K | $1.5M | 90% |
| Follow-on offering | $46.3M | 2022-03-31 | $308.3M | $560.5M | 90% |
| Follow-on offering | $19.6M | 2022-04-30 | $130.6M | $233.5M | 90% |
| Follow-on offering | $892K | 2022-06-24 | $5.9M | $10.3M | 90% |
| Follow-on offering | $2.4M | 2022-06-24 | $16.3M | $28.3M | 90% |
| Follow-on offering | $54.5M | 2022-07-20 | $363.3M | $621.7M | 90% |
| Follow-on offering | $242K | 2022-09-09 | $1.6M | $2.7M | 90% |
| Follow-on offering | $594K | 2022-09-09 | $4.0M | $6.6M | 90% |
| Follow-on offering | $5.3M | 2022-09-09 | $35.5M | $59.0M | 90% |
| Follow-on offering | $601K | 2023-04-30 | $4.0M | $5.9M | 90% |
| Follow-on offering | $275K | 2023-11-30 | $1.8M | $2.4M | 90% |
| Follow-on offering | $1.2M | 2023-11-30 | $7.8M | $10.1M | 90% |
| Follow-on offering | $321K | 2023-11-30 | $2.1M | $2.8M | 90% |
| Follow-on offering | $138K | 2024-05-27 | $917K | $1.1M | 90% |
| Follow-on offering | $1.2M | 2024-05-27 | $8.0M | $9.5M | 90% |
| Follow-on offering | $3.2M | 2024-12-31 | $21.3M | $22.4M | 90% |
| Follow-on offering | $953K | 2025-07-03 | $6.4M | $6.0M | 90% |
| Follow-on offering | $1.9M | 2025-10-29 | $12.4M | $11.1M | 90% |
Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.
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.
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.
| Person | Role | Also runs | Tied since |
|---|---|---|---|
| William Miller | — | 11 other | 2022-04 |
| William D. Miller | — | 7 other | 2024-12 |
| Bryan Perkins | — | 2 other | 2021-02 |
| Mary Gallagher | — | 2 other | 2021-02 |
| Bonnie Peat | — | 1 other | 2021-11 |
| Josh Weisenbeck | — | 1 other | 2021-02 |
| Justin Tucker | — | 1 other | 2021-02 |
| Kevin Layne | — | 1 other | 2021-02 |
| Marc McLeroy | — | 1 other | 2023-11 |
| Robert Recer | — | 1 other | 2021-02 |
| Vance Serchuk | — | 1 other | 2022-04 |
| Bonnie D. Peat | — | — | 2024-12 |
| Bonnie T. Peat | — | — | 2023-11 |
| Bryan D. Perkins | — | — | 2024-12 |
| Bryan T. Perkins | — | — | 2023-11 |
| John Weisenbeck | — | — | 2023-04 |
| Josh D. Weisenbeck | — | — | 2024-12 |
| Josh T. Weisenbeck | — | — | 2023-11 |
| Kevin D. Layne | — | — | 2024-12 |
| Kevin T. Layne | — | — | 2023-11 |
| Marc D. McLeroy | — | — | 2024-12 |
| Marc Leroy | — | — | 2023-04 |
| Marc T. McLeroy | — | — | 2023-11 |
| Mary D. Gallagher | — | — | 2024-12 |
Neptune Topco Holdings, LLC is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.
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.
| Company | Sector | Stage | Raised · real | Value · est | Why similar |
|---|---|---|---|---|---|
| Neptune Management Topco Holdings, LLC | Other | Series B | $19.7M | $2.0M | network10 shared operators · same sector |
| OEC Holding Corp | Other | Series B | $28.1M | $467.1M | network1 shared operator · same sector |
| GlyEco, Inc. | Other | Series A | $15.4M | $31.8M | network1 shared operator · same sector |
| scanR Inc | Other | Series A | $6.2M | $93.7M | network1 shared operator · same sector |
| Quaddra Software Inc. | Other | Pre-Seed | $580K | $13.4M | network1 shared operator · same sector |
| BCI Acquisitions, Inc. | Other | Series D+ | $131.9M | $11.4M | same sector |
| FDI Strategies, LLC | Other | Pre-Seed | $150K | $3.5M | network1 shared operator · same sector |
| Regis Corp | Other | Series D+ | $121.3M | $10.9M | same sector |
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.
| Company | Sector | Stage | Value · est | Match |
|---|---|---|---|---|
| Neptune Management Topco Holdings, LLC | Other | Series B | $2.0M | 99% |
| Neptune Parent Topco LLC | Other | Series D+ | $2.3B | 93% |
| Mercury Topco Holdings, Inc. | Other | Series A | $45.2M | 91% |
| NMI Topco, LLC | Other | Series B | $201.2M | 88% |
| Top Holdings, LLC | Other | Pre-Seed | $1.9M | 88% |
| Rand Topco, LLC | Other | Seed | $5.4M | 87% |
| Maverick Topco, LLC | Other | Seed | $17.9M | 87% |
| Geo Topco Corp | Other | Series A | $8.5M | 86% |
See where Neptune Topco Holdings, LLC sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
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