Companies · Software / Tech

QSpex Technologies Inc

Alpharetta · Software / Tech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on QSpex Technologies Inc — recommendation, valuation, rhythm, risks.
$90.2M
Total raised · real
11
Rounds
0.3×
Latest step-up
Top 6%
Sector rank · raised
Series B
Latest stage · inferred · Thu Nov 10 2016 00:00:00 GMT+0000 (Coordinated Universal Time)

QSpex Technologies Inc looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology 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 0.05× the median modeled value of Series B Software / Tech companies in 2016–2018 (78 peers) — value vs value, same stage and era.
Dormant
  • Last raise 9.6 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.
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 Software / Tech

QSpex Technologies Inc is one of 3920 Software / Tech companies tracked from Alpharetta. By capital raised it ranks among the largest (ahead of 95% 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
3
Investors (latest)
2016-11-10
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$500M$1.0B$1.5B$2.0BSeries A · 2009-10-16 Raised $12M (real) Modeled valuation $333M (est)Series A2009Series A · 2010-06-25 Raised $115K (real) Modeled valuation $3.2M (est)Series A · 2011-04-15 Raised $6.0M (real) Modeled valuation $166M (est)Series A2011Seed · 2012-03-01 Raised $1.5M (real) Modeled valuation $51M (est)Series A · 2012-03-01 Raised $3.0M (real) Modeled valuation $83M (est)Series A2012Series A · 2012-05-02 Raised $1.0M (real) Modeled valuation $28M (est)Series B · 2012-06-07 Raised $21M (real) Modeled valuation $624M (est)Series B2012Series B · 2012-10-05 Raised $400K (real) Modeled valuation $12M (est)Series B · 2013-03-15 Raised $8.0M (real) Modeled valuation $244M (est)Series B2013Series A · 2013-03-15 Raised $6.0M (real) Modeled valuation $166M (est)Seed · 2013-03-15 Raised $3.0M (real) Modeled valuation $102M (est)Seed2013Series B · 2013-10-11 Raised $29M (real) Modeled valuation $889M (est)Series B · 2013-10-11 Raised $34M (real) Modeled valuation $1.0B (est)Series B2013Seed · 2013-10-11 Raised $4.0M (real) Modeled valuation $136M (est)Seed · 2013-10-11 Raised $2.0M (real) Modeled valuation $68M (est)Seed2013Series A · 2013-10-11 Raised $14M (real) Modeled valuation $388M (est)Seed · 2016-08-31 Raised $1.1M (real) Modeled valuation $39M (est)Seed2016Series B · 2016-08-31 Raised $3.8M (real) Modeled valuation $114M (est)Series B · 2016-11-10 Raised $1.0M (real) Modeled valuation $30M (est)Series B2016Cumulative $151M

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
Series A$12.0M · 2009
Series A extension$115K · 2010
Series A extension$6.0M · 2011
Bridge · Series A-stage$1.5M · 2012smaller follow-on
Series A extension$3.0M · 2012
Series A extension$1.0M · 2012
Series B$20.5M · 2012
Series B extension$400K · 2012
Series B extension$8.0M · 2013
Bridge · Series B-stage$6.0M · 2013smaller follow-on
Bridge · Series B-stage$3.0M · 2013smaller follow-on
Series B extension$29.2M · 2013
Series B extension$34.5M · 2013
Bridge · Series B-stage$4.0M · 2013smaller follow-on
Bridge · Series B-stage$2.0M · 2013smaller follow-on
Bridge · Series B-stage$14.0M · 2013smaller follow-on
Bridge · Series B-stage$1.1M · 2016smaller follow-on
Series B extension$3.8M · 2016
Series B extension$1.0M · 2016

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
$30.5M
Base estimate est.
$2.5M
Conservative case
$117.2M
Upside case
$5.6M
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 technology sector profile. Directional, not a quoted figure.

Series A · modeled $332.9M · 2009-10-162009Series A · modeled $3.2M · 2010-06-25Series A · modeled $166.4M · 2011-04-15Seed · modeled $51.1M · 2012-03-01Series A · modeled $83.2M · 2012-03-01Series A · modeled $27.7M · 2012-05-02Series B · modeled $624.4M · 2012-06-07Series B · modeled $12.2M · 2012-10-05Series B · modeled $243.6M · 2013-03-15Series A · modeled $166.4M · 2013-03-15Seed · modeled $102.2M · 2013-03-15Series B · modeled $888.5M · 2013-10-11Series B · modeled $1.0B · 2013-10-11Seed · modeled $136.3M · 2013-10-11Seed · modeled $68.1M · 2013-10-11Series A · modeled $388.4M · 2013-10-11Seed · modeled $39.2M · 2016-08-31Series B · modeled $114.2M · 2016-08-31Series B · modeled $30.5M · 2016-11-102016
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
67%
Survival probability
44% low · 81% high
1.42×/yr
Annual markup
1.72×/yr upside case
6.0 yr
Elapsed time used
9.6 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
5 mo
Avg between rounds
$12.8M/yr
Capital velocity
16.7 yr
On record since
2009
First round
19
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. 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) 20× above median
This company$90.2M
Sector median$4.6M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$1.0M
Sector median$19.9M
Modeled value — vs sector median (estimate, all stages) 0.8× of median
This company$30.5M
Sector median$36.6M

Raised more than 95% of sector peers (real $). Modeled value above 47% 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 #76 of 78.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$10.0M$100.0MCapital raised (log)Orchid Labs Inc. · Series B Raised $40.6M · modeled $1.1B (est)Overclock Labs, Inc. · Series B Raised $35.3M · modeled $1.0B (est)Reflexis Systems Inc · Series B Raised $67.2M · modeled $999.8M (est)Nav Technologies, Inc. · Series B Raised $67.8M · modeled $995.5M (est)Vesper Technologies Inc. · Series B Raised $51.4M · modeled $971.7M (est)Applied Data Finance, LLC · Series B Raised $30.8M · modeled $938.7M (est)Digital Reasoning Systems, Inc. · Series B Raised $80.5M · modeled $913.8M (est)Singular Labs Inc. · Series B Raised $35.6M · modeled $913.7M (est)Skyport Systems, Inc. · Series B Raised $66.7M · modeled $904.5M (est)Constellation Labs, LLC · Series B Raised $29.7M · modeled $904.1M (est)Theta Labs, Inc. · Series B Raised $37.4M · modeled $887.6M (est)SolidEnergy Systems Corp. · Series B Raised $79.5M · modeled $879.4M (est)QSpex Technologies Inc (this company) Raised $90.2M · modeled $30.5M (est)QSpex Technologies Inc
CompanyStageRaised · realValue · estvs peer med.
Orchid Labs Inc.Series B$40.6M$1.1B1.89×
Overclock Labs, Inc.Series B$35.3M$1.0B1.78×
Reflexis Systems IncSeries B$67.2M$999.8M1.72×
Nav Technologies, Inc.Series B$67.8M$995.5M1.71×
Vesper Technologies Inc.Series B$51.4M$971.7M1.67×
Applied Data Finance, LLCSeries B$30.8M$938.7M1.61×
Digital Reasoning Systems, Inc.Series B$80.5M$913.8M1.57×
Singular Labs Inc.Series B$35.6M$913.7M1.57×
Skyport Systems, Inc.Series B$66.7M$904.5M1.55×
Constellation Labs, LLCSeries B$29.7M$904.1M1.55×
Theta Labs, Inc.Series B$37.4M$887.6M1.52×
SolidEnergy Systems Corp.Series B$79.5M$879.4M1.51×
QSpex Technologies Inc this companySeries B$90.2M$30.5M0.05×
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.
Series A$12.0M2009-10-16$54.5M$332.9M85%
Series A$115K2010-06-25$523K$3.2M85%
Series A$6.0M2011-04-15$27.3M$166.4M85%
Seed$1.5M2012-03-01$7.5M$51.1M85%
Series A$3.0M2012-03-01$13.6M$83.2M85%
Series A$1.0M2012-05-02$4.5M$27.7M85%
Series B$20.5M2012-06-07$113.9M$624.4M85%
Series B$400K2012-10-05$2.2M$12.2M85%
Series B$8.0M2013-03-15$44.4M$243.6M85%
Series A$6.0M2013-03-15$27.3M$166.4M85%
Seed$3.0M2013-03-15$15.0M$102.2M85%
Series B$29.2M2013-10-11$162.1M$888.5M85%
Series B$34.5M2013-10-11$191.5M$1.0B85%
Seed$4.0M2013-10-11$20.0M$136.3M85%
Seed$2.0M2013-10-11$10.0M$68.1M85%
Series A$14.0M2013-10-11$63.6M$388.4M85%
Seed$1.1M2016-08-31$5.8M$39.2M85%
Series B$3.8M2016-08-31$20.8M$114.2M90%
Series B$1.0M2016-11-10$5.6M$30.5M90%
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. Series A$12.0M2009-10-16
    • First recorded raise — entered as Series A.
    • 3 investors on this round.
  2. Series A$115K2010-06-25
    • Raised 8 mo later, in step with the ~13 mo sector norm.
    • Round 104.3× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Series A$6.0M2011-04-15
    • Raised 10 mo later, in step with the ~13 mo sector norm.
    • Round 52.2× larger than the prior — scaling up.
    • 3 investors on this round.
  4. Seed$1.5M2012-03-01
    • Raised 11 mo later, in step with the ~13 mo sector norm.
    • Round 4.0× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  5. Series A$3.0M2012-03-01
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.0× larger than the prior — scaling up.
    • 3 investors on this round.
  6. Series A$1.0M2012-05-02
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 3.0× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  7. Series B$20.5M2012-06-07
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round 20.5× larger than the prior — scaling up.
    • 13 investors on this round.
  8. Series B$400K2012-10-05
    • Came back fast: 4 mo vs the ~13 mo sector norm.
    • Round 51.3× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  9. Series B$8.0M2013-03-15
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round 20.0× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 4 investors on this round.
  10. Series A$6.0M2013-03-15
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.3× smaller than the prior — bridge or down round.
    • Switched to Rule 06 (was Rule 506(b)).
    • 4 investors on this round.
  11. Seed$3.0M2013-03-15
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  12. Series B$29.2M2013-10-11
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 9.7× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 27 investors on this round.
  13. Series B$34.5M2013-10-11
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 28 investors on this round.
  14. Seed$4.0M2013-10-11
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 8.6× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  15. Seed$2.0M2013-10-11
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  16. Series A$14.0M2013-10-11
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 7.0× larger than the prior — scaling up.
    • 4 investors on this round.
  17. Seed$1.1M2016-08-31
    • Raised again after 35 mo — slower than the ~13 mo sector norm.
    • Round 12.2× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  18. Series B$3.8M2016-08-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.3× larger than the prior — scaling up.
    • 20 investors on this round.
  19. Series B$1.0M2016-11-10
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 3.8× smaller than the prior — bridge or down round.
    • 3 investors on this round.
Intelligence
2017 ~Q2
Modeled next raise · ~5mo cadence
$1.0M
Modeled next size est.range $1.0M$1.6M
0.3×
Last step-up
$12.8M/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
Stephen Martin4 other2009-10
Evan Melrose3 other2013-03
Timothy McInerney3 other2013-10
Martin P. Sutter1 other2009-10
Martin Sutter1 other2013-03
William Anton1 other2013-03
Brett Craig2013-10
Evan P. Melrose2012-06
Glen Ellisor2013-03
Glenn Ellisor2013-10
Glen P. Ellisor2011-04
James Grootegoed2013-03
James P. Grootegoed2011-04
John Lowery2013-03
John Lowry2013-03
John P. Lowery2012-06
Kai P. Su2009-10
Kai Su2013-03
Karen Reid2013-10
William P. Anton2011-04
Registry & provenance

QSpex Technologies 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
1418588
SEC CIK
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Frequently asked
How much funding has QSpex Technologies Inc raised?
QSpex Technologies Inc has raised approximately $90.2M in disclosed capital across 11 recorded financing rounds, aggregated from public filings.
What is QSpex Technologies Inc's estimated valuation?
Provath's modeled valuation for QSpex Technologies Inc is approximately $30.5M (modeled range $2.5M–$117.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is QSpex Technologies Inc at?
QSpex Technologies Inc's latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Nov 10.
What does QSpex Technologies Inc do and where is it based?
QSpex Technologies Inc operates in the Software / Tech sector, based in Alpharetta.
Explore related

See where QSpex Technologies 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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