Companies · Computers

SecureKey Technologies Inc.

TORONTO · Computers

Diligence memoA one-page analyst read on SecureKey Technologies Inc. — recommendation, valuation, rhythm, risks.
$32.7M
Total raised · real
6
Rounds
0.6×
Latest step-up
Top 9%
Sector rank · raised
Series B
Latest stage · inferred · Fri Aug 12 2016 00:00:00 GMT+0000 (Coordinated Universal Time)

SecureKey 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 software/compute 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 0.03× the median modeled value of Series B Computers companies in 2016–2018 (17 peers) — value vs value, same stage and era.
Dormant
  • Last raise 9.9 yr ago; this sector typically re-raises about every 12 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 Computers

SecureKey Technologies Inc. is one of 1370 Computers companies tracked from TORONTO. By capital raised it ranks among the largest (ahead of 92% 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
1
Investors (latest)
2016-08-12
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$1.0BPre-Seed · 2010-04-08 Raised $850K (real) Modeled valuation $43M (est)Pre-Seed2010Pre-Seed · 2010-12-09 Raised $432K (real) Modeled valuation $22M (est)Pre-Seed2010Seed · 2011-11-23 Raised $1.2M (real) Modeled valuation $49M (est)Seed2011Series B · 2012-01-27 Raised $19M (real) Modeled valuation $693M (est)Series B2012Series B · 2012-01-30 Raised $24M (real) Modeled valuation $875M (est)Series B2012Series A · 2014-11-06 Raised $5.2M (real) Modeled valuation $173M (est)Series A2014Series B · 2014-11-06 Raised $5.5M (real) Modeled valuation $200M (est)Series B2014Series B · 2016-08-12 Raised $776K (real) Modeled valuation $28M (est)Series B2016Pre-Seed · 2016-08-12 Raised $499K (real) Modeled valuation $25M (est)Pre-Seed2016+$432K+$1.2M+$19M+$24M+$5.2M+$5.5M+$776K+$499KCumulative $57M

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$850K · 2010
Pre-Seed extension$432K · 2010
Seed$1.2M · 2011
Series B$19.0M · 2012no Series A on file
Series B extension$24.0M · 2012
Bridge · Series B-stage$5.2M · 2014smaller follow-on
Series B extension$5.5M · 2014
Series B extension$776K · 2016
Bridge · Series B-stage$499K · 2016smaller follow-on

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

Modeled valuation trajectory
$28.3M
Base estimate est.
$1.9M
Conservative case
$108.9M
Upside case
$4.3M
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 software/compute sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $43.1M · 2010-04-082010Pre-Seed · modeled $21.9M · 2010-12-09Seed · modeled $48.9M · 2011-11-23Series B · modeled $692.9M · 2012-01-27Series B · modeled $875.3M · 2012-01-30Series A · modeled $172.7M · 2014-11-06Series B · modeled $200.0M · 2014-11-06Series B · modeled $28.3M · 2016-08-12Pre-Seed · modeled $25.3M · 2016-08-122016
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
68%
Survival probability
45% low · 83% high
1.46×/yr
Annual markup
1.77×/yr upside case
6.0 yr
Elapsed time used
9.9 yr actual, capped for stale marks
software/compute
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
10 mo
Avg between rounds
$5.2M/yr
Capital velocity
16.2 yr
On record since
2010
First round
9
Rounds on file
How it compares to the market

Benchmarked against 1370 companies in Computers. 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) 17× above median
This company$32.7M
Sector median$1.9M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.0× of median
This company$499K
Sector median$20.0M
Modeled value — vs sector median (estimate, all stages) 0.9× of median
This company$28.3M
Sector median$33.0M

Raised more than 92% 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 #16 of 17.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$10.0M$100.0MCapital raised (log)Level Access Holdings, Inc. · Series B Raised $40.0M · modeled $1.5B (est)Jask Labs Inc. · Series B Raised $35.1M · modeled $1.2B (est)Elastic Path Software Inc. · Series B Raised $32.2M · modeled $1.2B (est)OverOps, Inc. · Series B Raised $46.3M · modeled $1.1B (est)GlobalLogic Worldwide Holdings, Inc. · Series B Raised $29.8M · modeled $1.1B (est)Advanced Solutions International, Inc. · Series B Raised $52.5M · modeled $948.2M (est)OmniTier, Inc. · Series B Raised $28.9M · modeled $946.0M (est)Enigma ENG International Ltd · Series B Raised $25.1M · modeled $914.4M (est)Endless Mobile, Inc. · Series B Raised $23.2M · modeled $847.9M (est)Catchpoint Systems, Inc. · Series B Raised $39.8M · modeled $820.6M (est)Panzura, Inc. · Series B Raised $70.4M · modeled $809.9M (est)Gitlab Inc. · Series B Raised $24.5M · modeled $686.5M (est)SecureKey Technologies Inc. (this company) Raised $32.7M · modeled $28.3M (est)SecureKey Technologies Inc.
CompanyStageRaised · realValue · estvs peer med.
Level Access Holdings, Inc.Series B$40.0M$1.5B1.72×
Jask Labs Inc.Series B$35.1M$1.2B1.42×
Elastic Path Software Inc.Series B$32.2M$1.2B1.39×
OverOps, Inc.Series B$46.3M$1.1B1.35×
GlobalLogic Worldwide Holdings, Inc.Series B$29.8M$1.1B1.28×
Advanced Solutions International, Inc.Series B$52.5M$948.2M1.12×
OmniTier, Inc.Series B$28.9M$946.0M1.12×
Enigma ENG International LtdSeries B$25.1M$914.4M1.08×
Endless Mobile, Inc.Series B$23.2M$847.9M1.00×
Catchpoint Systems, Inc.Series B$39.8M$820.6M0.97×
Panzura, Inc.Series B$70.4M$809.9M0.96×
Gitlab Inc.Series B$24.5M$686.5M0.81×
SecureKey Technologies Inc. this companySeries B$32.7M$28.3M0.03×
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$850K2010-04-08$4.7M$43.1M85%
Pre-Seed$432K2010-12-09$2.4M$21.9M85%
Seed$1.2M2011-11-23$6.0M$48.9M85%
Series B$19.0M2012-01-27$105.6M$692.9M85%
Series B$24.0M2012-01-30$133.3M$875.3M85%
Series A$5.2M2014-11-06$23.6M$172.7M85%
Series B$5.5M2014-11-06$30.5M$200.0M85%
Series B$776K2016-08-12$4.3M$28.3M90%
Pre-Seed$499K2016-08-12$2.8M$25.3M85%
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$850K2010-04-08
    • First recorded raise — entered as Pre-Seed.
    • 3 investors on this round.
  2. Pre-Seed$432K2010-12-09
    • Raised 8 mo later, in step with the ~12 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  3. Seed$1.2M2011-11-23
    • Raised 11 mo later, in step with the ~12 mo sector norm.
    • Round 2.8× larger than the prior — scaling up.
    • 4 investors on this round.
  4. Series B$19.0M2012-01-27
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 15.8× larger than the prior — scaling up.
    • 4 investors on this round.
  5. Series B$24.0M2012-01-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 5 investors on this round.
  6. Series A$5.2M2014-11-06
    • Raised again after 33 mo — slower than the ~12 mo sector norm.
    • Round 4.6× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 2 investors on this round.
  7. Series B$5.5M2014-11-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 4 investors on this round.
  8. Series B$776K2016-08-12
    • Raised again after 21 mo — slower than the ~12 mo sector norm.
    • Round 7.1× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  9. Pre-Seed$499K2016-08-12
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2017 ~Q2
Modeled next raise · ~10mo cadence
$499K
Modeled next size est.range $499K$798K
0.6×
Last step-up
$5.2M/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
Michael Lee14 other2014-11
Greg Wolfond2 other2010-04
John A. Swainson2 other2012-01
David H. House1 other2011-11
David House1 other2010-12
Jaime Shapiro1 other2010-04
John Swainson1 other2010-04
Andre A. Boysen2012-01
Andre Boysen2012-01
Charles Walton2014-11
David A. House2012-01
Gordon Ackroyd2016-08
Hugh A. Cumming2012-01
Hugh Cumming2012-01
Jay Howard2014-11
John H. Swainson2011-11
Pierre A. Roberge2012-01
Pierre H. Roberge2011-11
Robert A. Blumenthal2012-01
Robert Blumenthal2012-01
Uwe Wittig2016-08
Registry & provenance

SecureKey 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
1489641
SEC CIK
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Frequently asked
How much funding has SecureKey Technologies Inc. raised?
SecureKey Technologies Inc. has raised approximately $32.7M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is SecureKey Technologies Inc.'s estimated valuation?
Provath's modeled valuation for SecureKey Technologies Inc. is approximately $28.3M (modeled range $1.9M–$108.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is SecureKey Technologies Inc. at?
SecureKey Technologies Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Aug 12.
What does SecureKey Technologies Inc. do and where is it based?
SecureKey Technologies Inc. operates in the Computers sector, based in TORONTO.
Explore related

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