Diligence memo · auto-generated · as of July 1, 2026
Second Front Systems, Inc.
Second Front Systems, Inc. looks fair against its niche peers and is quiet on financing cadence.
Businessfiled
Second Front Systems, Inc. operates in Software / Tech, based in Arlington.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Second Front Systems, Inc. has raised $125M in disclosed capital across 4 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $70M on 2024-09-05.
Most recent recorded round closed around 2024-09-05.
Valuation (modeled)modeled
Provath models Second Front Systems, Inc. at approximately $619M (range $265M–$917M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.97× the median modeled value of Series C Software / Tech companies in 2022–2024 (55 peers) — value vs value, same stage and era. Within the normal band (97% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 17 months.
Last raise 22 mo ago; this sector typically re-raises about every 13 months.
Slightly overdue versus sector cadence.
The last round stepped up 2.1× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 96% of Software / Tech peers (3920 compared).
Modeled value ranks above 93% of those peers.
Closest niche peers: Pinecone Systems, Inc., Hydration Labs, Inc., SiMa Technologies, Inc., Atlas Technology Solutions Inc., Pascaline Systems, Inc..
Peoplefiled
16 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.