Diligence memo · auto-generated · as of July 2, 2026
Phunware, Inc.
Phunware, Inc. looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Phunware, Inc. operates in Other Technology, based in AUSTIN.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Phunware, Inc. has raised $117M in disclosed capital across 5 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $46M on 2015-12-18.
Most recent recorded round closed around 2020-07-15.
Valuation (modeled)modeled
Provath models Phunware, Inc. at approximately $671M (range $82M–$1.8B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.46× the median modeled value of Series C Other Technology companies in 2019–2021 (203 peers) — value vs value, same stage and era. Issuer reports $5M–$25M revenue while modeled below niche peers.
Financing rhythm & timingmixed
Historic cadence: a new round about every 15 months.
Last raise 6.0 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 7.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 97% of Other Technology peers (21302 compared).
Modeled value ranks above 94% of those peers.
Closest niche peers: Aldol, Mark Miner,INC, Aoex, Llc, aidol, LLC, vtoken, llc.
Peoplefiled
24 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.