Companies · Other Health Care

NightWare, Inc

HOPKINS · Other Health Care

Diligence memoA one-page analyst read on NightWare, Inc — recommendation, valuation, rhythm, risks.
$2.5M
Total raised · real
5
Rounds
0.2×
Latest step-up
Top 50%
Sector rank · raised
Seed
Latest stage · inferred · Tue Feb 24 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

NightWare, Inc looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the health care 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 0.13× the median modeled value of Seed Other Health Care companies in 2025–2027 (105 peers) — value vs value, same stage and era.
Active
  • Last raise 4 mo ago; this sector typically re-raises about every 14 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Health Care

NightWare, Inc is one of 5376 Other Health Care companies tracked from HOPKINS. By capital raised it ranks mid-pack (ahead of 51% 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
1
Investors (latest)
2026-02-24
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$2.5M$5.0M$7.5M$10MPre-Seed · 2019-04-05 Raised $305K (real) Modeled valuation $9.4M (est)$305K$9.4MPre-Seed2019Pre-Seed · 2021-02-17 Raised $100K (real) Modeled valuation $2.2M (est)$100K$2.2MPre-Seed2021Pre-Seed · 2022-07-15 Raised $700K (real) Modeled valuation $7.8M (est)$700K$7.8MPre-Seed2022Seed · 2025-08-22 Raised $1.1M (real) Modeled valuation $3.1M (est)$1.1M$3.1MSeed2025Seed · 2026-02-24 Raised $250K (real) Modeled valuation $546K (est)$250K$546KSeed2026+$100K+$700K+$1.1M+$250KCumulative $2.5M

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$305K · 2019
Pre-Seed extension$100K · 2021
Pre-Seed extension$700K · 2022
Seed$1.1M · 2025
Seed extension$250K · 2026

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$546K
Base estimate est.
$212K
Conservative case
$929K
Upside case
$1.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the health care sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $9.4M · 2019-04-052019Pre-Seed · modeled $2.2M · 2021-02-17Pre-Seed · modeled $7.8M · 2022-07-15Seed · modeled $3.1M · 2025-08-22Seed · modeled $546K · 2026-02-242026
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
38%
Survival probability
17% low · 58% high
1.54×/yr
Annual markup
2.01×/yr upside case
0.3 yr
Elapsed time used
0.3 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
21 mo
Avg between rounds
$363K/yr
Capital velocity
7.2 yr
On record since
2019
First round
5
Rounds on file
How it compares to the market

Benchmarked against 5376 companies in Other Health Care. 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) 1.0× above median
This company$2.5M
Sector median$2.4M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.1× of median
This company$250K
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 0.0× of median
This company$546K
Sector median$22.1M

Raised more than 51% of sector peers (real $). Modeled value above 3% 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 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 #96 of 105.

This companyCohort peer
$100K$1.0M$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Xymogen, Inc. · Seed Raised $62.4M · modeled $12.3M (est)Willow Life Sciences, Inc. · Seed Raised $4.0M · modeled $12.0M (est)ManyClicks, Inc. · Seed Raised $4.0M · modeled $11.6M (est)Sterile State, Inc. · Seed Raised $3.2M · modeled $11.4M (est)Limber Prosthetics, Inc. · Seed Raised $3.8M · modeled $11.1M (est)Othership Inc. · Seed Raised $3.7M · modeled $11.0M (est)Ps-Fertility, Inc. · Seed Raised $3.5M · modeled $11.0M (est)Eagle Onsite, Llc · Seed Raised $3.5M · modeled $10.6M (est)ForCast Orthopedics, Inc. · Seed Raised $3.8M · modeled $10.6M (est)1888 Equity LLC · Seed Raised $3.0M · modeled $10.5M (est)Arrellio, Inc. · Seed Raised $3.5M · modeled $10.0M (est)Kindbridge Corp · Seed Raised $5.4M · modeled $9.9M (est)NightWare, Inc (this company) Raised $2.5M · modeled $546K (est)NightWare, Inc
CompanyStageRaised · realValue · estvs peer med.
Xymogen, Inc.Seed$62.4M$12.3M2.89×
Willow Life Sciences, Inc.Seed$4.0M$12.0M2.84×
ManyClicks, Inc.Seed$4.0M$11.6M2.75×
Sterile State, Inc.Seed$3.2M$11.4M2.70×
Limber Prosthetics, Inc.Seed$3.8M$11.1M2.63×
Othership Inc.Seed$3.7M$11.0M2.61×
Ps-Fertility, Inc.Seed$3.5M$11.0M2.59×
Eagle Onsite, LlcSeed$3.5M$10.6M2.51×
ForCast Orthopedics, Inc.Seed$3.8M$10.6M2.50×
1888 Equity LLCSeed$3.0M$10.5M2.48×
Arrellio, Inc.Seed$3.5M$10.0M2.35×
Kindbridge CorpSeed$5.4M$9.9M2.33×
NightWare, Inc this companySeed$2.5M$546K0.13×
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$305K2019-04-05$1.7M$9.4M90%
Pre-Seed$100K2021-02-17$556K$2.2M90%
Pre-Seed$700K2022-07-15$3.9M$7.8M90%
Seed$1.1M2025-08-22$5.7M$3.1M90%
Seed$250K2026-02-24$1.3M$546K90%
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$305K2019-04-05
    • First recorded raise — entered as Pre-Seed.
    • 8 investors on this round.
  2. Pre-Seed$100K2021-02-17
    • Raised again after 22 mo — slower than the ~14 mo sector norm.
    • Round 3.1× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Pre-Seed$700K2022-07-15
    • Raised 17 mo later, in step with the ~14 mo sector norm.
    • Round 7.0× larger than the prior — scaling up.
    • 6 investors on this round.
  4. Seed$1.1M2025-08-22
    • Raised again after 37 mo — slower than the ~14 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • 18 investors on this round.
  5. Seed$250K2026-02-24
    • Came back fast: 6 mo vs the ~14 mo sector norm.
    • Round 4.6× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2027 ~Q4
Modeled next raise · ~21mo cadence
$250K
Modeled next size est.range $250K$400K
0.2×
Last step-up
$363K/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
Gerald Mattys2 other2022-07
Michael Nathan2 other2019-04
Michael Ott2 other2025-08
Richard Nigon2 other2026-02
Matthew Tucker1 other2021-02
Grady Hannah2019-04
Nathan Michael2021-02
Tom Vanderheyden2021-02
Registry & provenance

NightWare, 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
1774677
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
Tactile Systems Technology IncOther Health CareSeries A$23.4M$209.9Mnetwork2 shared operators · same sector
Salus Scientific Corp.Other Health CareSeed$2.5M$314Ksame sector · same stage
Inland Surgery Center, L.P.Other Health CareSeed$2.4M$1.5Msame sector · same stage
Trinity Guardion, Inc.Other Health CareSeed$2.4M$490Ksame sector · same stage
NOVODX CorpOther Health CareSeed$2.3M$663Ksame sector · same stage
Structural Elements Franchising, LLCOther Health CareSeed$2.3M$1.5Msame sector · same stage
Diabetes Reversal Group LLCOther Health CareSeed$2.8M$990Ksame sector · same stage
Ten Mile Surgery Center, LLCOther Health CareSeed$2.1M$1.1Msame 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
Nocturnal Inc.Other Health CareSeed$4.1M90%
Night Owl Medical, Inc.HealthtechSeed$30.3M84%
Pathware, Inc.Other Health CareSeries A$102.2M84%
3Aware, Inc.Other Health CareSeed$3.4M83%
SleepRes, Inc.Other Health CareSeed$9.4M83%
Good Night Medical, LLCHealthtechSeries A$150.7M83%
RxWare, Inc.Other Health CareSeries A$20.0M83%
Lightship Inc.Other Health CareSeries B$122.4M82%
Frequently asked
How much funding has NightWare, Inc raised?
NightWare, Inc has raised approximately $2.5M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is NightWare, Inc's estimated valuation?
Provath's modeled valuation for NightWare, Inc is approximately $546K (modeled range $212K–$929K). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is NightWare, Inc at?
NightWare, Inc's latest modeled financing stage is Seed. Its most recent recorded round closed around Tue Feb 24.
What does NightWare, Inc do and where is it based?
NightWare, Inc operates in the Other Health Care sector, based in HOPKINS.
Explore related

See where NightWare, 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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