Companies · Govtech / Public Sector

Pigeonly, Inc.Winter 2015Inactive

LAS VEGAS · NV, USA · Govtech / Public Sector · refined from filed group “Other Technology · founded 2014 · http://pigeonly.com

Diligence memoA one-page analyst read on Pigeonly, Inc. — recommendation, valuation, rhythm, risks.
$6.9M
Total raised · real
7
Rounds
0.6×
Latest step-up
Top 12%
Sector rank · raised
Seed
Latest stage · inferred · Fri Dec 23 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Pigeonly, Inc. has raised $6.9M over 7 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the govtech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

At-risk
  • Last raise 3.5 yr ago; this sector typically re-raises about every 9 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 Govtech / Public Sector

Pigeonly, Inc. is one of 46 Govtech / Public Sector companies tracked from LAS VEGAS, NV, USA, on record since 2014. By capital raised it ranks in the upper tier (ahead of 89% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

The affordable way to search, find & communicate with an incarcerated…

Pigeonly is a subscription-based platform that makes it easy for people to search, find, and communicate with an incarcerated loved from anywhere in the world. Our technology cuts the cost of expensive prison calls by 80% and allows our customers to send their inmate printed photos, greeting cards, and more right from any cell phone, tablet, or computer. At the core of the Pigeonly business is our proprietary inmate API, Haystac, that searches and organizes millions of Federal, State, and County records in real-time to determine the location of 2MM+ inmates across all prison facilities. This makes it possible for our users to easily search, find, and connect with their incarcerated loved one using one or all of our 6 consumer-facing products. Pigoenly's target market usually has to settle for poor product design and is often the victim of predatory business practices. At Pigeonly, we focus on providing quality products at affordable prices; pair that with five-star customer service to achieve a superb customer experience never seen in the market. We understand just how important this is to our customer because we are our customer.

GovTech
Find Pigeonly, Inc. online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
3
Investors (latest)
2022-12-23
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 · 2013-06-26 Raised $875K (real) Modeled valuation $28M (est)Pre-Seed2013Seed · 2014-03-28 Raised $1.0M (real) Modeled valuation $26M (est)Seed2014Seed · 2014-11-12 Raised $600K (real) Modeled valuation $15M (est)Seed2014Pre-Seed · 2015-04-29 Raised $403K (real) Modeled valuation $13M (est)Pre-Seed2015Seed · 2015-04-29 Raised $2.2M (real) Modeled valuation $56M (est)Seed2015Seed · 2015-04-29 Raised $2.5M (real) Modeled valuation $64M (est)Seed2015Pre-Seed · 2017-01-26 Raised $418K (real) Modeled valuation $13M (est)Pre-Seed2017Seed · 2017-01-26 Raised $718K (real) Modeled valuation $18M (est)Seed2017Seed · 2019-08-09 Raised $750K (real) Modeled valuation $19M (est)Seed2019Seed · 2022-12-23 Raised $450K (real) Modeled valuation $4.1M (est)Seed2022+$1.0M+$600K+$403K+$2.2M+$2.5M+$418K+$718K+$750K+$450KCumulative $9.9M

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$875K · 2013
Seed$1.0M · 2014
Seed extension$600K · 2014
Bridge · Seed-stage$403K · 2015smaller follow-on
Seed extension$2.2M · 2015
Seed extension$2.5M · 2015
Bridge · Seed-stage$418K · 2017smaller follow-on
Seed extension$718K · 2017
Seed extension$750K · 2019
Seed extension$450K · 2022

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

Modeled valuation trajectory
$4.1M
Base estimate est.
$417K
Conservative case
$16.3M
Upside case
$2.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the govtech sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $27.9M · 2013-06-262013Seed · modeled $25.8M · 2014-03-28Seed · modeled $15.4M · 2014-11-12Pre-Seed · modeled $12.9M · 2015-04-29Seed · modeled $56.4M · 2015-04-29Seed · modeled $63.8M · 2015-04-29Pre-Seed · modeled $13.3M · 2017-01-26Seed · modeled $18.4M · 2017-01-26Seed · modeled $19.2M · 2019-08-09Seed · modeled $4.1M · 2022-12-232022
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
41%
Survival probability
19% low · 64% high
1.52×/yr
Annual markup
2.00×/yr upside case
3.5 yr
Elapsed time used
3.5 yr actual, capped for stale marks
govtech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
13 mo
Avg between rounds
$725K/yr
Capital velocity
13.0 yr
On record since
2013
First round
10
Rounds on file
How it compares to the market

Benchmarked against 46 companies in Govtech / Public Sector. 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) 1.0× above median
This company$6.9M
Sector median$6.9M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.2× of median
This company$450K
Sector median$1.9M
Modeled value — vs sector median (estimate, all stages) 0.2× of median
This company$4.1M
Sector median$25.5M

Raised more than 89% of sector peers (real $). Modeled value above 80% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) 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.

Not enough valued peers in this cohort to chart positioning.

CompanyStageRaised · realValue · estvs peer med.
Municipal Solvency Research LLCSeed$3.0M$15.6M1.59×
Pigeonly, Inc. this companySeed$6.9M$4.1M0.41×
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$875K2013-06-26$4.9M$27.9M85%
Seed$1.0M2014-03-28$5.0M$25.8M85%
Seed$600K2014-11-12$3.0M$15.4M85%
Pre-Seed$403K2015-04-29$2.2M$12.9M85%
Seed$2.2M2015-04-29$11.0M$56.4M85%
Seed$2.5M2015-04-29$12.4M$63.8M85%
Pre-Seed$418K2017-01-26$2.3M$13.3M90%
Seed$718K2017-01-26$3.6M$18.4M90%
Seed$750K2019-08-09$3.8M$19.2M90%
Seed$450K2022-12-23$2.3M$4.1M90%
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$875K2013-06-26
    • First recorded raise — entered as Pre-Seed.
    • 7 investors on this round.
  2. Seed$1.0M2014-03-28
    • Raised 9 mo later, in step with the ~9 mo sector norm.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 06).
    • 6 investors on this round.
  3. Seed$600K2014-11-12
    • Raised 8 mo later, in step with the ~9 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  4. Pre-Seed$403K2015-04-29
    • Raised 6 mo later, in step with the ~9 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 10 investors on this round.
  5. Seed$2.2M2015-04-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 5.5× larger than the prior — scaling up.
    • 21 investors on this round.
  6. Seed$2.5M2015-04-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 23 investors on this round.
  7. Pre-Seed$418K2017-01-26
    • Raised again after 21 mo — slower than the ~9 mo sector norm.
    • Round 6.0× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  8. Seed$718K2017-01-26
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× larger than the prior — scaling up.
    • 6 investors on this round.
  9. Seed$750K2019-08-09
    • Raised again after 30 mo — slower than the ~9 mo sector norm.
    • Round roughly the size of the prior one.
    • 1 investor on this round.
  10. Seed$450K2022-12-23
    • Raised again after 40 mo — slower than the ~9 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 3 investors on this round.
Intelligence
2024 ~Q1
Modeled next raise · ~13mo cadence
$450K
Modeled next size est.range $450K$720K
0.6×
Last step-up
$725K/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
Erik Moore2 other2014-11
Mitchell Kapor2 other2014-11
Alfonzo Brooks2013-06
Benjamin Jealous2014-11
Frederick Hutson2013-06
Rashid Galadanci2017-01
Sabaina Bukhari2013-06
Registry & provenance

Pigeonly, 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
1580960
SEC CIK
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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SimpleCitizen, Inc.Govtech / Public SectorSeries A$6.3M$115.0Msame sector
Municipal Apparel Co LLCGovtech / Public SectorSeries A$8.2M$25.5Msame sector
Token Transit, Inc.Govtech / Public SectorSeries A$4.1M$86.0Msame sector
Govly Inc.Govtech / Public SectorSeries A$13.1M$90.3Msame sector
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
Birdly, Inc.Other TechnologyPre-Seed$18.0M74%
Pigeon
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Fintech73%
VaultPay
Digital banking platform for the 30 million smartphone users in DRC.
Fintech70%
Capturely Inc.Other TechnologyPre-Seed$298K70%
Creditly Corp.Other TechnologySeries B$206.1M70%
brooqLy, Inc.Other TechnologySeries A$39.8M69%
CClearly, Inc.Other TechnologySeries A$143.7M69%
Inmatech, Inc.Other TechnologyPre-Seed$12.7M69%
Frequently asked
How much funding has Pigeonly, Inc. raised?
Pigeonly, Inc. has raised approximately $6.9M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Pigeonly, Inc.'s estimated valuation?
Provath's modeled valuation for Pigeonly, Inc. is approximately $4.1M (modeled range $417K–$16.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Pigeonly, Inc. at?
Pigeonly, Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Fri Dec 23.
What does Pigeonly, Inc. do and where is it based?
Pigeonly, Inc. operates in the Govtech / Public Sector sector, based in LAS VEGAS, NV, USA. The affordable way to search, find & communicate with an incarcerated…
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