Companies · Software / Tech

Patriot Software Co

CANTON · Software / Tech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Patriot Software Co — recommendation, valuation, rhythm, risks.
$46.3M
Total raised · real
15
Rounds
0.6×
Latest step-up
Top 11%
Sector rank · raised
Series B
Latest stage · inferred · Thu Jan 31 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Patriot Software Co looks under-valued 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 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 0.14× the median modeled value of Series B Software / Tech companies in 2019–2021 (142 peers) — value vs value, same stage and era.
Dormant
  • Last raise 7.4 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

Patriot Software Co is one of 3920 Software / Tech companies tracked from CANTON. By capital raised it ranks among the largest (ahead of 90% 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(c)
Reg D exemption
23
Investors (latest)
2015
Year incorporated
2019-01-31
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$1.0BSeed · 2016-10-31 Raised $1.1M (real) Modeled valuation $38M (est)Seed2016Pre-Seed · 2016-10-31 Raised $100K (real) Modeled valuation $4.2M (est)Seed · 2018-05-17 Raised $250K (real) Modeled valuation $8.5M (est)Seed2018Seed · 2018-06-19 Raised $480K (real) Modeled valuation $16M (est)Series B · 2018-07-01 Raised $20M (real) Modeled valuation $609M (est)Series B2018Series A · 2018-07-01 Raised $5.0M (real) Modeled valuation $139M (est)Series A · 2018-07-01 Raised $5.0M (real) Modeled valuation $139M (est)Series A2018Series B · 2018-07-03 Raised $1.1M (real) Modeled valuation $35M (est)Series B · 2018-09-25 Raised $1.2M (real) Modeled valuation $36M (est)Series B2018Series B · 2018-10-05 Raised $1.3M (real) Modeled valuation $41M (est)Series B · 2018-10-26 Raised $1.7M (real) Modeled valuation $50M (est)Series B2018Series B · 2018-11-06 Raised $1.7M (real) Modeled valuation $52M (est)Series B · 2018-11-20 Raised $1.7M (real) Modeled valuation $52M (est)Series B2018Series B · 2018-11-30 Raised $2.0M (real) Modeled valuation $62M (est)Series B · 2018-12-13 Raised $2.2M (real) Modeled valuation $66M (est)Series B2018Series B · 2019-01-17 Raised $2.9M (real) Modeled valuation $88M (est)Series B · 2019-01-25 Raised $4.0M (real) Modeled valuation $122M (est)Series B2019Series B · 2019-01-31 Raised $2.5M (real) Modeled valuation $76M (est)Cumulative $54M

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
Seed$1.1M · 2016
Bridge · Seed-stage$100K · 2016smaller follow-on
Seed extension$250K · 2018
Seed extension$480K · 2018
Series B$20.0M · 2018no Series A on file
Bridge · Series B-stage$5.0M · 2018smaller follow-on
Bridge · Series B-stage$5.0M · 2018smaller follow-on
Series B extension$1.1M · 2018
Series B extension$1.2M · 2018
Series B extension$1.3M · 2018
Series B extension$1.7M · 2018
Series B extension$1.7M · 2018
Series B extension$1.7M · 2018
Series B extension$2.0M · 2018
Series B extension$2.2M · 2018
Series B extension$2.9M · 2019
Series B extension$4.0M · 2019
Series B extension$2.5M · 2019

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

Modeled valuation trajectory
$75.9M
Base estimate est.
$6.1M
Conservative case
$292.2M
Upside case
$13.8M
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 technology sector profile. Directional, not a quoted figure.

Seed · modeled $38.2M · 2016-10-312016Pre-Seed · modeled $4.2M · 2016-10-31Seed · modeled $8.5M · 2018-05-17Seed · modeled $16.4M · 2018-06-19Series B · modeled $609.1M · 2018-07-01Series A · modeled $138.7M · 2018-07-01Series A · modeled $138.7M · 2018-07-01Series B · modeled $34.7M · 2018-07-03Series B · modeled $36.2M · 2018-09-25Series B · modeled $40.8M · 2018-10-05Series B · modeled $50.3M · 2018-10-26Series B · modeled $52.1M · 2018-11-06Series B · modeled $52.4M · 2018-11-20Series B · modeled $62.2M · 2018-11-30Series B · modeled $66.0M · 2018-12-13Series B · modeled $87.9M · 2019-01-17Series B · modeled $121.6M · 2019-01-25Series B · modeled $75.9M · 2019-01-312019
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
67%
Survival probability
44% low · 81% high
1.42×/yr
Annual markup
1.72×/yr upside case
6.0 yr
Elapsed time used
7.4 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
2 mo
Avg between rounds
$20.6M/yr
Capital velocity
9.7 yr
On record since
2016
First round
18
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) 10× above median
This company$46.3M
Sector median$4.6M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$2.5M
Sector median$19.9M
Modeled value — vs sector median (estimate, all stages) 2.1× above median
This company$75.9M
Sector median$36.6M

Raised more than 90% of sector peers (real $). Modeled value above 66% 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 #136 of 142.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$10.0M$100.0MCapital raised (log)Trackonomy Systems, Inc. · Series B Raised $49.2M · modeled $1.2B (est)Tray.IO Inc. · Series B Raised $59.3M · modeled $1.1B (est)Unravel Data Systems, Inc. · Series B Raised $56.2M · modeled $1.1B (est)Salus Labs, Inc. · Series B Raised $35.0M · modeled $1.1B (est)Anchor Labs, Inc. · Series B Raised $33.7M · modeled $1.0B (est)Compound Labs, Inc. · Series B Raised $41.8M · modeled $1.0B (est)Mode Analytics, Inc. · Series B Raised $72.3M · modeled $995.9M (est)Cleo Labs, Inc · Series B Raised $84.7M · modeled $957.4M (est)Bevy Labs, Inc. · Series B Raised $55.0M · modeled $955.6M (est)Temperpack Technologies Inc. · Series B Raised $79.9M · modeled $939.5M (est)Hound Labs, Inc. · Series B Raised $49.2M · modeled $933.0M (est)Cloud Elements, Inc. · Series B Raised $60.2M · modeled $913.7M (est)Patriot Software Co (this company) Raised $46.3M · modeled $75.9M (est)Patriot Software Co
CompanyStageRaised · realValue · estvs peer med.
Trackonomy Systems, Inc.Series B$49.2M$1.2B2.17×
Tray.IO Inc.Series B$59.3M$1.1B2.07×
Unravel Data Systems, Inc.Series B$56.2M$1.1B1.95×
Salus Labs, Inc.Series B$35.0M$1.1B1.95×
Anchor Labs, Inc.Series B$33.7M$1.0B1.88×
Compound Labs, Inc.Series B$41.8M$1.0B1.85×
Mode Analytics, Inc.Series B$72.3M$995.9M1.83×
Cleo Labs, IncSeries B$84.7M$957.4M1.76×
Bevy Labs, Inc.Series B$55.0M$955.6M1.75×
Temperpack Technologies Inc.Series B$79.9M$939.5M1.72×
Hound Labs, Inc.Series B$49.2M$933.0M1.71×
Cloud Elements, Inc.Series B$60.2M$913.7M1.68×
Patriot Software Co this companySeries B$46.3M$75.9M0.14×
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.
Seed$1.1M2016-10-31$5.6M$38.2M90%
Pre-Seed$100K2016-10-31$556K$4.2M90%
Seed$250K2018-05-17$1.3M$8.5M90%
Seed$480K2018-06-19$2.4M$16.4M90%
Series B$20.0M2018-07-01$111.1M$609.1M90%
Series A$5.0M2018-07-01$22.7M$138.7M90%
Series A$5.0M2018-07-01$22.7M$138.7M90%
Series B$1.1M2018-07-03$6.3M$34.7M90%
Series B$1.2M2018-09-25$6.6M$36.2M90%
Series B$1.3M2018-10-05$7.4M$40.8M90%
Series B$1.7M2018-10-26$9.2M$50.3M90%
Series B$1.7M2018-11-06$9.5M$52.1M90%
Series B$1.7M2018-11-20$9.6M$52.4M90%
Series B$2.0M2018-11-30$11.3M$62.2M90%
Series B$2.2M2018-12-13$12.0M$66.0M90%
Series B$2.9M2019-01-17$16.0M$87.9M90%
Series B$4.0M2019-01-25$22.2M$121.6M90%
Series B$2.5M2019-01-31$13.8M$75.9M90%
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. Seed$1.1M2016-10-31
    • First recorded raise — entered as Seed.
    • 5 investors on this round.
  2. Pre-Seed$100K2016-10-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 11.2× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Seed$250K2018-05-17
    • Raised 18 mo later, in step with the ~13 mo sector norm.
    • Round 2.5× larger than the prior — scaling up.
    • Switched to Rule 506(c) (was Rule 506(b)).
    • 3 investors on this round.
  4. Seed$480K2018-06-19
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
    • 2 investors on this round.
  5. Series B$20.0M2018-07-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 41.7× larger than the prior — scaling up.
  6. Series A$5.0M2018-07-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 4.0× smaller than the prior — bridge or down round.
  7. Series A$5.0M2018-07-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  8. Series B$1.1M2018-07-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 4.4× smaller than the prior — bridge or down round.
    • 10 investors on this round.
  9. Series B$1.2M2018-09-25
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 11 investors on this round.
  10. Series B$1.3M2018-10-05
    • 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.
  11. Series B$1.7M2018-10-26
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 14 investors on this round.
  12. Series B$1.7M2018-11-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 16 investors on this round.
  13. Series B$1.7M2018-11-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 16 investors on this round.
  14. Series B$2.0M2018-11-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 18 investors on this round.
  15. Series B$2.2M2018-12-13
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 21 investors on this round.
  16. Series B$2.9M2019-01-17
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round 1.3× larger than the prior — scaling up.
    • 27 investors on this round.
  17. Series B$4.0M2019-01-25
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× larger than the prior — scaling up.
    • 43 investors on this round.
  18. Series B$2.5M2019-01-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× smaller than the prior — bridge or down round.
    • Switched to Rule 506(c) (was Rule 506(b)).
    • 23 investors on this round.
Intelligence
2019 ~Q1
Modeled next raise · ~2mo cadence
$2.5M
Modeled next size est.range $2.5M$4.0M
0.6×
Last step-up
$20.6M/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
David Wheeler5 other2018-07
David A. Wheeler2018-11
Michael A Kappel2018-05
Michael A Wheeler2018-05
Michael Kappel2016-10
Michael Wheeler2016-10
Registry & provenance

Patriot Software Co 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
1665036
SEC CIK
2015
Incorporated
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.

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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
Official Technologies, Inc.Software / TechSeed$7.7M81%
Liberty Advanced Technologies, Inc.Software / TechSeed$45.2M80%
Magna Digital, Inc.Software / TechSeries B$276.2M80%
Knox Systems, Inc. / DESoftware / TechSeries A$24.3M80%
Nickel Technology Inc.Software / TechSeries A$48.4M80%
Potato Data IncSoftware / TechSeries D+$6.3B79%
Gun.io, Inc.Software / TechSeries A$65.1M79%
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Frequently asked
How much funding has Patriot Software Co raised?
Patriot Software Co has raised approximately $46.3M in disclosed capital across 15 recorded financing rounds, aggregated from public filings.
What is Patriot Software Co's estimated valuation?
Provath's modeled valuation for Patriot Software Co is approximately $75.9M (modeled range $6.1M–$292.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Patriot Software Co at?
Patriot Software Co's latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Jan 31.
What does Patriot Software Co do and where is it based?
Patriot Software Co operates in the Software / Tech sector, based in CANTON.
Explore related

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

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