Companies · Other

Niocorp Developments Ltd

CENTENNIAL · Other

Diligence memoA one-page analyst read on Niocorp Developments Ltd — recommendation, valuation, rhythm, risks.
$22.3M
Total raised · real
13
Rounds
5.8×
Latest step-up
Top 14%
Sector rank · raised
Series A
Latest stage · inferred · Wed Nov 13 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Niocorp Developments Ltd looks under-valued against its niche peers and is quiet 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 0.37× the median modeled value of Series A Other companies in 2022–2024 (1135 peers) — value vs value, same stage and era.
Quiet
  • Last raise 20 mo ago; this sector typically re-raises about every 11 months.
  • Slightly overdue versus sector 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

Niocorp Developments Ltd is one of 25008 Other companies tracked from CENTENNIAL. By capital raised it ranks in the upper tier (ahead of 87% 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.

US
Jurisdiction
Rule 506(b)
Reg D exemption
46
Investors (latest)
2024-11-13
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$25M$50M$75M$100MPre-Seed · 2011-01-28 Raised $275K (real) Modeled valuation $6.4M (est)Pre-Seed2011Pre-Seed · 2013-10-21 Raised $608K (real) Modeled valuation $14M (est)Pre-Seed2013Pre-Seed · 2013-10-21 Raised $510K (real) Modeled valuation $12M (est)Pre-Seed2013Seed · 2013-10-21 Raised $1.1M (real) Modeled valuation $21M (est)Seed2013Seed · 2014-03-04 Raised $130K (real) Modeled valuation $2.4M (est)Seed2014Seed · 2014-11-10 Raised $3.8M (real) Modeled valuation $71M (est)Seed2014Series A · 2015-12-22 Raised $4.5M (real) Modeled valuation $68M (est)Series A2015Series A · 2017-02-14 Raised $215K (real) Modeled valuation $3.3M (est)Series A2017Series A · 2018-09-14 Raised $610K (real) Modeled valuation $9.2M (est)Series A2018Series A · 2021-04-21 Raised $4.8M (real) Modeled valuation $57M (est)Series A2021Series A · 2022-06-30 Raised $794K (real) Modeled valuation $6.6M (est)Series A2022Series A · 2023-09-01 Raised $1.0M (real) Modeled valuation $5.8M (est)Series A2023Series A · 2023-12-14 Raised $944K (real) Modeled valuation $5.1M (est)Series A2023Series A · 2024-06-21 Raised $602K (real) Modeled valuation $2.8M (est)Series A2024Series A · 2024-11-13 Raised $3.5M (real) Modeled valuation $14M (est)Series A2024Cumulative $23M

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$275K · 2011
Pre-Seed extension$608K · 2013
Pre-Seed extension$510K · 2013
Seed$1.1M · 2013
Seed extension$130K · 2014
Seed extension$3.8M · 2014
Series A$4.5M · 2015
Series A extension$215K · 2017
Series A extension$610K · 2018
Series A extension$4.8M · 2021
Series A extension$794K · 2022
Series A extension$1.0M · 2023
Series A extension$944K · 2023
Series A extension$602K · 2024
Series A extension$3.5M · 2024

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

Modeled valuation trajectory
$14.3M
Base estimate est.
$4.8M
Conservative case
$28.3M
Upside case
$15.9M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks. Directional, not a quoted figure.

Pre-Seed · modeled $6.4M · 2011-01-282011Pre-Seed · modeled $14.0M · 2013-10-21Pre-Seed · modeled $11.8M · 2013-10-21Seed · modeled $20.8M · 2013-10-21Seed · modeled $2.4M · 2014-03-04Seed · modeled $70.7M · 2014-11-10Series A · modeled $68.1M · 2015-12-22Series A · modeled $3.3M · 2017-02-14Series A · modeled $9.2M · 2018-09-14Series A · modeled $57.0M · 2021-04-21Series A · modeled $6.6M · 2022-06-30Series A · modeled $5.8M · 2023-09-01Series A · modeled $5.1M · 2023-12-14Series A · modeled $2.8M · 2024-06-21Series A · modeled $14.3M · 2024-11-132024
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
55%
Survival probability
30% low · 75% high
1.35×/yr
Annual markup
1.70×/yr upside case
1.6 yr
Elapsed time used
1.6 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$1.6M/yr
Capital velocity
15.4 yr
On record since
2011
First round
15
Rounds on file
How it compares to the market

Benchmarked against 25008 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) 11× above median
This company$22.3M
Sector median$2.0M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.6× of median
This company$3.5M
Sector median$5.7M
Modeled value — vs sector median (estimate, all stages) 0.8× of median
This company$14.3M
Sector median$17.7M

Raised more than 87% of sector peers (real $). Modeled value above 46% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #1005 of 1,135.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Ness Well, Inc. · Series A Raised $14.9M · modeled $142.4M (est)Quantori, Inc. · Series A Raised $15.0M · modeled $138.5M (est)Applause Network TV, Inc. · Series A Raised $15.0M · modeled $135.0M (est)Qquv Investments 5, Llc · Series A Raised $15.0M · modeled $135.0M (est)Trustworthy Co · Series A Raised $15.5M · modeled $134.2M (est)DigniFi Holding, Inc. · Series A Raised $24.3M · modeled $133.9M (est)Proventures Capital, Inc. · Series A Raised $14.7M · modeled $132.9M (est)Zenledger, Inc. · Series A Raised $21.6M · modeled $132.0M (est)Gridwise, Inc. · Series A Raised $20.4M · modeled $131.7M (est)Aztec Broadway Ltd Liability Co · Series A Raised $14.0M · modeled $127.6M (est)KABR Jamaica SPE LLC · Series A Raised $14.7M · modeled $126.8M (est)Harmony Musical LLC · Series A Raised $15.0M · modeled $126.2M (est)Niocorp Developments Ltd (this company) Raised $22.3M · modeled $14.3M (est)Niocorp Developments Ltd
CompanyStageRaised · realValue · estvs peer med.
Ness Well, Inc.Series A$14.9M$142.4M3.67×
Quantori, Inc.Series A$15.0M$138.5M3.57×
Applause Network TV, Inc.Series A$15.0M$135.0M3.48×
Qquv Investments 5, LlcSeries A$15.0M$135.0M3.48×
Trustworthy CoSeries A$15.5M$134.2M3.46×
DigniFi Holding, Inc.Series A$24.3M$133.9M3.45×
Proventures Capital, Inc.Series A$14.7M$132.9M3.42×
Zenledger, Inc.Series A$21.6M$132.0M3.40×
Gridwise, Inc.Series A$20.4M$131.7M3.39×
Aztec Broadway Ltd Liability CoSeries A$14.0M$127.6M3.29×
KABR Jamaica SPE LLCSeries A$14.7M$126.8M3.26×
Harmony Musical LLCSeries A$15.0M$126.2M3.25×
Niocorp Developments Ltd this companySeries A$22.3M$14.3M0.37×
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$275K2011-01-28$1.5M$6.4M85%
Pre-Seed$608K2013-10-21$3.4M$14.0M85%
Pre-Seed$510K2013-10-21$2.8M$11.8M85%
Seed$1.1M2013-10-21$5.6M$20.8M85%
Seed$130K2014-03-04$648K$2.4M85%
Seed$3.8M2014-11-10$19.0M$70.7M85%
Series A$4.5M2015-12-22$20.5M$68.1M85%
Series A$215K2017-02-14$978K$3.3M90%
Series A$610K2018-09-14$2.8M$9.2M90%
Series A$4.8M2021-04-21$21.8M$57.0M90%
Series A$794K2022-06-30$3.6M$6.6M90%
Series A$1.0M2023-09-01$4.5M$5.8M90%
Series A$944K2023-12-14$4.3M$5.1M90%
Series A$602K2024-06-21$2.7M$2.8M90%
Series A$3.5M2024-11-13$15.9M$14.3M90%
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$275K2011-01-28
    • First recorded raise — entered as Pre-Seed.
    • 2 investors on this round.
  2. Pre-Seed$608K2013-10-21
    • Raised again after 33 mo — slower than the ~11 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 2 investors on this round.
  3. Pre-Seed$510K2013-10-21
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  4. Seed$1.1M2013-10-21
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.2× larger than the prior — scaling up.
    • 2 investors on this round.
  5. Seed$130K2014-03-04
    • Came back fast: 4 mo vs the ~11 mo sector norm.
    • Round 8.6× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  6. Seed$3.8M2014-11-10
    • Raised 8 mo later, in step with the ~11 mo sector norm.
    • Round 29.3× larger than the prior — scaling up.
    • 17 investors on this round.
  7. Series A$4.5M2015-12-22
    • Raised 13 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  8. Series A$215K2017-02-14
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round 20.9× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  9. Series A$610K2018-09-14
    • Raised again after 19 mo — slower than the ~11 mo sector norm.
    • Round 2.8× larger than the prior — scaling up.
    • 5 investors on this round.
  10. Series A$4.8M2021-04-21
    • Raised again after 31 mo — slower than the ~11 mo sector norm.
    • Round 7.9× larger than the prior — scaling up.
  11. Series A$794K2022-06-30
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round 6.0× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  12. Series A$1.0M2023-09-01
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  13. Series A$944K2023-12-14
    • Came back fast: 3 mo vs the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 5 investors on this round.
  14. Series A$602K2024-06-21
    • Came back fast: 6 mo vs the ~11 mo sector norm.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  15. Series A$3.5M2024-11-13
    • Came back fast: 5 mo vs the ~11 mo sector norm.
    • Round 5.8× larger than the prior — scaling up.
    • 46 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~12mo cadence
$10.5M
Modeled next size est.range $6.8M$16.8M
5.8×
Last step-up
$1.6M/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
Mark Smith27 other2015-12
Mark A. Smith6 other2013-10
Dean C. Kehler3 other2023-09
James T. Sims2 other2017-02
PETER DICKIE2 other2011-01
CASEY FORWARD1 other2011-01
JAMES ALLAN1 other2011-01
John F. Ashburn, Jr.1 other2015-12
Michael J. Morris1 other2017-02
Anna Castner Wightman2017-02
ANNA COATES CASTNER WIGHTMAN2018-09
Casey C. Forward2013-10
Claude C. Dufresne2013-10
David C. Beling2013-10
DAVID COATES BELING2018-09
Erin C. Chutter2013-10
ERIN CHUTTER2011-01
FERNANDA A. FENGA2021-04
JAMES MCCREA2011-01
JODY DAHROUGHE2011-01
Joe D. Cecil2014-11
JOSEPH A. CARRABBA2017-02
Joseph S. Carraba2015-12
Michael C. Morris2014-11
Registry & provenance

Niocorp Developments Ltd 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
1512228
SEC CIK
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Frequently asked
How much funding has Niocorp Developments Ltd raised?
Niocorp Developments Ltd has raised approximately $22.3M in disclosed capital across 13 recorded financing rounds, aggregated from public filings.
What is Niocorp Developments Ltd's estimated valuation?
Provath's modeled valuation for Niocorp Developments Ltd is approximately $14.3M (modeled range $4.8M–$28.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Niocorp Developments Ltd at?
Niocorp Developments Ltd's latest modeled financing stage is Series A. Its most recent recorded round closed around Wed Nov 13.
What does Niocorp Developments Ltd do and where is it based?
Niocorp Developments Ltd operates in the Other sector, based in CENTENNIAL.
Explore related

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

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