Companies · Biotechnology

Potrero Medical, Inc.

Hayward · Biotechnology

Diligence memoA one-page analyst read on Potrero Medical, Inc. — recommendation, valuation, rhythm, risks.
$76.2M
Total raised · real
7
Rounds
0.7×
Latest step-up
Top 14%
Sector rank · raised
Series B
Latest stage · inferred · Thu Aug 28 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Potrero Medical, Inc. looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech 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 0.13× the median modeled value of Series B Biotechnology companies in 2025–2027 (94 peers) — value vs value, same stage and era.
Active
  • Last raise 10 mo ago; this sector typically re-raises about every 14 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Biotechnology

Potrero Medical, Inc. is one of 4293 Biotechnology companies tracked from Hayward. By capital raised it ranks in the upper tier (ahead of 87% of sector peers), and in the long tail 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
29
Investors (latest)
2025-08-28
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 · 2014-05-13 Raised $3.9M (real) Modeled valuation $173M (est)Seed2014Series A · 2016-08-30 Raised $7.3M (real) Modeled valuation $262M (est)Series A2016Series A · 2016-08-30 Raised $4.8M (real) Modeled valuation $175M (est)Series A2016Series B · 2018-05-25 Raised $25M (real) Modeled valuation $978M (est)Series B2018Series A · 2019-06-28 Raised $12M (real) Modeled valuation $425M (est)Series A2019Series B · 2019-06-28 Raised $17M (real) Modeled valuation $682M (est)Series B2019Series B · 2023-03-24 Raised $18M (real) Modeled valuation $219M (est)Series B2023Series B · 2024-10-24 Raised $3.2M (real) Modeled valuation $20M (est)Series B2024Series B · 2025-08-28 Raised $2.3M (real) Modeled valuation $9.9M (est)Series B2025+$7.3M+$4.8M+$25M+$12M+$17M+$18M+$3.2M+$2.3MCumulative $93M

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$3.9M · 2014
Series A$7.3M · 2016
Series A extension$4.8M · 2016
Series B$24.6M · 2018
Bridge · Series B-stage$11.7M · 2019smaller follow-on
Series B extension$17.2M · 2019
Series B extension$17.7M · 2023
Series B extension$3.2M · 2024
Series B extension$2.3M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 75%.

Modeled valuation trajectory
$9.9M
Base estimate est.
$4.6M
Conservative case
$14.2M
Upside case
$12.7M
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 biotech sector profile. Directional, not a quoted figure.

Seed · modeled $173.2M · 2014-05-132014Series A · modeled $262.4M · 2016-08-30Series A · modeled $174.9M · 2016-08-30Series B · modeled $978.0M · 2018-05-25Series A · modeled $424.5M · 2019-06-28Series B · modeled $682.1M · 2019-06-28Series B · modeled $218.7M · 2023-03-24Series B · modeled $19.9M · 2024-10-24Series B · modeled $9.9M · 2025-08-282025
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
36% low · 66% high
1.54×/yr
Annual markup
1.86×/yr upside case
0.8 yr
Elapsed time used
0.8 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
17 mo
Avg between rounds
$6.7M/yr
Capital velocity
12.1 yr
On record since
2014
First round
9
Rounds on file
How it compares to the market

Benchmarked against 4293 companies in Biotechnology. 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) 11× above median
This company$76.2M
Sector median$7.2M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$2.3M
Sector median$17.5M
Modeled value — vs sector median (estimate, all stages) 0.2× of median
This company$9.9M
Sector median$64.2M

Raised more than 87% of sector peers (real $). Modeled value above 18% 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 #83 of 94.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)MarvelBiome, Inc. · Series B Raised $54.9M · modeled $163.2M (est)Iantrek, Inc. · Series B Raised $58.2M · modeled $152.4M (est)Dualitas Therapeutics, Inc. · Series B Raised $32.6M · modeled $150.4M (est)Antares Therapeutics, Inc. · Series B Raised $70.0M · modeled $149.7M (est)OrthoBio Therapeutics, Inc. · Series B Raised $31.4M · modeled $147.5M (est)Medcura, Inc. · Series B Raised $40.9M · modeled $145.0M (est)Neurolutions Inc · Series B Raised $26.5M · modeled $144.9M (est)Renasant Bio, Inc. · Series B Raised $55.5M · modeled $144.0M (est)Caldera Therapeutics, Inc. · Series B Raised $37.5M · modeled $139.2M (est)VitriVax, Inc. · Series B Raised $29.4M · modeled $136.9M (est)DiaMedica Therapeutics Inc. · Series B Raised $110.4M · modeled $136.3M (est)OmniAb, Inc. · Series B Raised $30.0M · modeled $130.5M (est)Potrero Medical, Inc. (this company) Raised $76.2M · modeled $9.9M (est)Potrero Medical, Inc.
CompanyStageRaised · realValue · estvs peer med.
MarvelBiome, Inc.Series B$54.9M$163.2M2.11×
Iantrek, Inc.Series B$58.2M$152.4M1.97×
Dualitas Therapeutics, Inc.Series B$32.6M$150.4M1.94×
Antares Therapeutics, Inc.Series B$70.0M$149.7M1.93×
OrthoBio Therapeutics, Inc.Series B$31.4M$147.5M1.90×
Medcura, Inc.Series B$40.9M$145.0M1.87×
Neurolutions IncSeries B$26.5M$144.9M1.87×
Renasant Bio, Inc.Series B$55.5M$144.0M1.86×
Caldera Therapeutics, Inc.Series B$37.5M$139.2M1.80×
VitriVax, Inc.Series B$29.4M$136.9M1.77×
DiaMedica Therapeutics Inc.Series B$110.4M$136.3M1.76×
OmniAb, Inc.Series B$30.0M$130.5M1.68×
Potrero Medical, Inc. this companySeries B$76.2M$9.9M0.13×
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$3.9M2014-05-13$19.5M$173.2M85%
Series A$7.3M2016-08-30$33.0M$262.4M90%
Series A$4.8M2016-08-30$22.0M$174.9M85%
Series B$24.6M2018-05-25$136.9M$978.0M90%
Series A$11.7M2019-06-28$53.4M$424.5M90%
Series B$17.2M2019-06-28$95.5M$682.1M90%
Series B$17.7M2023-03-24$98.6M$218.7M90%
Series B$3.2M2024-10-24$17.8M$19.9M90%
Series B$2.3M2025-08-28$12.7M$9.9M90%
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$3.9M2014-05-13
    • First recorded raise — entered as Seed.
    • 9 investors on this round.
  2. Series A$7.3M2016-08-30
    • Raised again after 28 mo — slower than the ~14 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 21 investors on this round.
  3. Series A$4.8M2016-08-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 14 investors on this round.
  4. Series B$24.6M2018-05-25
    • Raised again after 21 mo — slower than the ~14 mo sector norm.
    • Round 5.1× larger than the prior — scaling up.
    • 32 investors on this round.
  5. Series A$11.7M2019-06-28
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
    • 20 investors on this round.
  6. Series B$17.2M2019-06-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× larger than the prior — scaling up.
    • 26 investors on this round.
  7. Series B$17.7M2023-03-24
    • Raised again after 45 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 99 investors on this round.
  8. Series B$3.2M2024-10-24
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 5.5× smaller than the prior — bridge or down round.
    • 6 investors on this round.
  9. Series B$2.3M2025-08-28
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 29 investors on this round.
Intelligence
2027 ~Q1
Modeled next raise · ~17mo cadence
$2.3M
Modeled next size est.range $2.3M$3.6M
0.7×
Last step-up
$6.7M/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
Carter Meyer13 other2016-08
David Greenberg12 other2016-08
Daniel Burnett10 other2014-05
Frederic H. Moll7 other2019-06
Alan Chesler4 other2016-08
Andrew ` Offer4 other2023-03
Maurice Ferre4 other2024-10
Christopher Dewey3 other2024-10
Colby Wood1 other2023-03
Jay H. Watkins1 other2019-06
Chad Zaring2025-08
George Rapier2016-08
Joe H. Urban2019-06
Joe Urban2018-05
Mark Goldwasser2024-10
Ramachandra Reddy2024-10
Rich Keenan2024-10
Sanjay Banerjee2024-10
Todd Dunn2025-08
Urban Joe2016-08
Registry & provenance

Potrero Medical, 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
1609048
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.

CompanySectorStageRaised · realValue · estWhy similar
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G.I. Windows, Inc.BiotechnologySeries B$76.9M$218.3Mnetwork1 shared operator · same sector · same stage
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MiNDERA CorpBiotechnologySeries B$25.9M$165.6Mnetwork1 shared operator · same sector · same stage
SS Innovations International, Inc.BiotechnologySeries B$21.8M$64.6Mnetwork1 shared operator · same sector · same stage
Gravitas Medical, Inc.BiotechnologySeries A$4.7M$113.9Mnetwork2 shared operators · same sector
Artelon, Inc.BiotechnologySeries B$20.0M$230.7Mnetwork1 shared operator · same sector · same stage
Esculon, Inc.BiotechnologySeed$2.9M$129.9Mnetwork2 shared operators · same 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
CoFlo Medical, Inc.BiotechnologyPre-Seed$1.0M87%
Sonosa Medical, Inc.BiotechnologyPre-Seed$5.6M86%
Palladio Biosciences, Inc.BiotechnologySeries B$1.0B85%
PuraCath Medical, Inc.BiotechnologyPre-Seed$19.1M85%
NuVera Medical, Inc.BiotechnologySeries A$423.0M85%
Pi Health Inc.BiotechnologySeries C$422.2M85%
Regenimo Biosciences, Inc.BiotechnologySeed$4.6M85%
Phio Pharmaceuticals Corp.BiotechnologySeries B$5.7M85%
Frequently asked
How much funding has Potrero Medical, Inc. raised?
Potrero Medical, Inc. has raised approximately $76.2M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Potrero Medical, Inc.'s estimated valuation?
Provath's modeled valuation for Potrero Medical, Inc. is approximately $9.9M (modeled range $4.6M–$14.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Potrero Medical, Inc. at?
Potrero Medical, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Aug 28.
What does Potrero Medical, Inc. do and where is it based?
Potrero Medical, Inc. operates in the Biotechnology sector, based in Hayward.
Explore related

See where Potrero Medical, 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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