Companies · Other Health Care

Phraxis Inc.

Minneapolis · Other Health Care

Diligence memoA one-page analyst read on Phraxis Inc. — recommendation, valuation, rhythm, risks.
$19.0M
Total raised · real
6
Rounds
1.5×
Latest step-up
Top 18%
Sector rank · raised
Series A
Latest stage · inferred · Fri Dec 01 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Phraxis Inc. looks fair against its niche peers and is at-risk 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.

Fair
  • Modeled value is 1.08× the median modeled value of Series A Other Health Care companies in 2022–2024 (196 peers) — value vs value, same stage and era.
  • Within the normal band (108% of peer median) for its niche.
At-risk
  • Last raise 2.6 yr ago; this sector typically re-raises about every 14 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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

Phraxis Inc. is one of 5376 Other Health Care companies tracked from Minneapolis. By capital raised it ranks in the upper tier (ahead of 83% 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
12
Investors (latest)
2023-12-01
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$50M$100M$150M$200MPre-Seed · 2010-12-14 Raised $600K (real) Modeled valuation $18M (est)$600K$18MPre-Seed2010Pre-Seed · 2012-02-06 Raised $200K (real) Modeled valuation $6.2M (est)$200K$6.2MPre-Seed2012Seed · 2012-11-29 Raised $1.5M (real) Modeled valuation $37M (est)$1.5M$37MSeed2012Series A · 2019-02-08 Raised $5.6M (real) Modeled valuation $112M (est)$5.6M$112MSeries A2019Series A · 2022-03-18 Raised $4.5M (real) Modeled valuation $49M (est)$4.5M$49MSeries A2022Series A · 2023-12-01 Raised $6.7M (real) Modeled valuation $40M (est)$6.7M$40MSeries A2023+$200K+$1.5M+$5.6M+$4.5M+$6.7MCumulative $19M

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$600K · 2010
Pre-Seed extension$200K · 2012
Seed$1.5M · 2012
Series A$5.6M · 2019
Series A extension$4.5M · 2022
Series A extension$6.7M · 2023

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

Modeled valuation trajectory
$39.6M
Base estimate est.
$8.6M
Conservative case
$97.8M
Upside case
$30.3M
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 scaled by the health care sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $18.5M · 2010-12-142010Pre-Seed · modeled $6.2M · 2012-02-06Seed · modeled $37.2M · 2012-11-29Series A · modeled $112.1M · 2019-02-08Series A · modeled $49.2M · 2022-03-18Series A · modeled $39.6M · 2023-12-012023
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.43×/yr
Annual markup
1.80×/yr upside case
2.6 yr
Elapsed time used
2.6 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
31 mo
Avg between rounds
$1.5M/yr
Capital velocity
15.5 yr
On record since
2010
First round
6
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) 7.8× above median
This company$19.0M
Sector median$2.4M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.2× above median
This company$6.7M
Sector median$5.6M
Modeled value — vs sector median (estimate, all stages) 1.8× above median
This company$39.6M
Sector median$22.1M

Raised more than 83% of sector peers (real $). Modeled value above 63% 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 #90 of 196.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)CareHarmony, Inc. · Series A Raised $17.4M · modeled $145.1M (est)Dragonfly Endoscopy Inc. · Series A Raised $12.7M · modeled $141.8M (est)NuvoAir Holdings, Inc. · Series A Raised $10.7M · modeled $124.9M (est)Post Acute Recovery, Inc. · Series A Raised $14.5M · modeled $122.9M (est)Micro Interventional Devices, Inc. · Series A Raised $14.0M · modeled $118.9M (est)Etiometry Inc. · Series A Raised $15.6M · modeled $114.6M (est)SafKan, Inc. · Series A Raised $13.0M · modeled $108.4M (est)BehaVR Holdings, Inc. · Series A Raised $12.1M · modeled $102.0M (est)Outliers Inc. · Series A Raised $13.6M · modeled $101.6M (est)RevMedica, Inc. · Series A Raised $14.2M · modeled $101.1M (est)Innovoyce LLC · Series A Raised $9.9M · modeled $97.5M (est)Prixz, Inc. · Series A Raised $9.2M · modeled $97.3M (est)Phraxis Inc. (this company) Raised $19.0M · modeled $39.6M (est)Phraxis Inc.
CompanyStageRaised · realValue · estvs peer med.
CareHarmony, Inc.Series A$17.4M$145.1M3.96×
Dragonfly Endoscopy Inc.Series A$12.7M$141.8M3.87×
NuvoAir Holdings, Inc.Series A$10.7M$124.9M3.41×
Post Acute Recovery, Inc.Series A$14.5M$122.9M3.35×
Micro Interventional Devices, Inc.Series A$14.0M$118.9M3.25×
Etiometry Inc.Series A$15.6M$114.6M3.13×
SafKan, Inc.Series A$13.0M$108.4M2.96×
BehaVR Holdings, Inc.Series A$12.1M$102.0M2.78×
Outliers Inc.Series A$13.6M$101.6M2.77×
RevMedica, Inc.Series A$14.2M$101.1M2.76×
Innovoyce LLCSeries A$9.9M$97.5M2.66×
Prixz, Inc.Series A$9.2M$97.3M2.66×
Phraxis Inc. this companySeries A$19.0M$39.6M1.08×
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$600K2010-12-14$3.3M$18.5M85%
Pre-Seed$200K2012-02-06$1.1M$6.2M85%
Seed$1.5M2012-11-29$7.5M$37.2M85%
Series A$5.6M2019-02-08$25.3M$112.1M90%
Series A$4.5M2022-03-18$20.5M$49.2M90%
Series A$6.7M2023-12-01$30.3M$39.6M90%
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$600K2010-12-14
    • First recorded raise — entered as Pre-Seed.
    • 6 investors on this round.
  2. Pre-Seed$200K2012-02-06
    • Raised 14 mo later, in step with the ~14 mo sector norm.
    • Round 3.0× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  3. Seed$1.5M2012-11-29
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 7.5× larger than the prior — scaling up.
    • 1 investor on this round.
  4. Series A$5.6M2019-02-08
    • Raised again after 74 mo — slower than the ~14 mo sector norm.
    • Round 3.7× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 7 investors on this round.
  5. Series A$4.5M2022-03-18
    • Raised again after 37 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
  6. Series A$6.7M2023-12-01
    • Raised again after 20 mo — slower than the ~14 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 12 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~31mo cadence
$9.9M
Modeled next size est.range $6.7M$15.8M
1.5×
Last step-up
$1.5M/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
James B. Hickey, Jr.1 other2010-12
Michael J. Kallok1 other2019-02
Alexander B. Yevzlin2012-11
Alexander J. Yevzlin2019-02
Alexander J. Yevzlin, M.D.2010-12
Alexander S. Yevzlin2023-12
Cindy M. Setum2022-03
Cindy S. Setum2023-12
Geoffrey S. Beecher2023-12
John B. Seaberg2012-11
John B. Zentgraf2012-11
John J. Seaberg2010-12
John J. Zentgraf2012-02
John S. Rappe2023-12
John S. Seaberg2023-12
John S. Zentgraf2023-12
Leota S. Pearson2023-12
Michael J. Kallok, Ph.D.2010-12
Paul Chase Robinson2012-02
Shelley B. Olsen2010-12
Shelley Chase Olsen2012-02
Terry S. Litchfield2023-12
Registry & provenance

Phraxis 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
1502965
SEC CIK
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Semantically similar

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Frequently asked
How much funding has Phraxis Inc. raised?
Phraxis Inc. has raised approximately $19.0M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Phraxis Inc.'s estimated valuation?
Provath's modeled valuation for Phraxis Inc. is approximately $39.6M (modeled range $8.6M–$97.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Phraxis Inc. at?
Phraxis Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Fri Dec 01.
What does Phraxis Inc. do and where is it based?
Phraxis Inc. operates in the Other Health Care sector, based in Minneapolis.
Explore related

See where Phraxis 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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