Diligence memo · auto-generated · as of July 2, 2026
Phlow Corp.
Phlow Corp. looks over-valued against its niche peers and is quiet on financing cadence.
Businessfiled
Phlow Corp. operates in Pharmaceuticals, based in RICHMOND.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Phlow Corp. has raised $83M in disclosed capital across 5 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $31M on 2025-01-31.
Most recent recorded round closed around 2025-01-31.
Valuation (modeled)modeled
Provath models Phlow Corp. at approximately $170M (range $64M–$271M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.53× the median modeled value of Series B Pharmaceuticals companies in 2025–2027 (17 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 13 months.
Last raise 17 mo ago; this sector typically re-raises about every 13 months.
Slightly overdue versus sector cadence.
The last round stepped up 6.1× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 89% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 66% of those peers.
Closest niche peers: AlphaTON Capital Corp, Triton Therapeutics, Inc., Sensorium Therapeutics, Inc., Belhaven Biopharma Inc., AN2 Therapeutics, Inc..
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.