Companies · Other

Sellars Absorbent Materials, Inc.

Milwaukee · Other

Diligence memoA one-page analyst read on Sellars Absorbent Materials, Inc. — recommendation, valuation, rhythm, risks.
$34.3M
Total raised · real
4
Rounds
0.4×
Latest step-up
Top 11%
Sector rank · raised
Series B
Latest stage · inferred · Tue Nov 29 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Sellars Absorbent Materials, Inc. looks under-valued against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page.

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 0.17× the median modeled value of Series B Other companies in 2022–2024 (465 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.6 yr ago; this sector typically re-raises about every 11 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 Other

Sellars Absorbent Materials, Inc. is one of 25008 Other companies tracked from Milwaukee. By capital raised it ranks among the largest (ahead of 90% 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)
2022-11-29
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$125M$250M$375M$500MSeries A · 2009-04-22 Raised $11M (real) Modeled valuation $162M (est)Series A2009Series A · 2009-09-09 Raised $250K (real) Modeled valuation $3.8M (est)Series A2009Series A · 2013-06-12 Raised $11M (real) Modeled valuation $162M (est)Series A2013Series B · 2020-12-18 Raised $20M (real) Modeled valuation $303M (est)Series B2020Seed · 2022-11-29 Raised $2.1M (real) Modeled valuation $16M (est)Seed2022Series B · 2022-11-29 Raised $2.9M (real) Modeled valuation $26M (est)Series B2022Seed · 2022-11-29 Raised $1.1M (real) Modeled valuation $8.0M (est)Seed2022+$250K+$11M+$20M+$2.1M+$2.9M+$1.1MCumulative $48M

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$10.7M · 2009
Series A extension$250K · 2009
Series A extension$10.7M · 2013
Series B$20.5M · 2020
Bridge · Series B-stage$2.1M · 2022smaller follow-on
Series B extension$2.9M · 2022
Bridge · Series B-stage$1.1M · 2022smaller follow-on

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
$26.5M
Base estimate est.
$7.2M
Conservative case
$64.1M
Upside case
$16.0M
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. Directional, not a quoted figure.

Series A · modeled $162.3M · 2009-04-222009Series A · modeled $3.8M · 2009-09-09Series A · modeled $161.5M · 2013-06-12Series B · modeled $303.4M · 2020-12-18Seed · modeled $15.6M · 2022-11-29Series B · modeled $26.5M · 2022-11-29Seed · modeled $8.0M · 2022-11-292022
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
68%
Survival probability
45% low · 83% high
1.28×/yr
Annual markup
1.55×/yr upside case
3.6 yr
Elapsed time used
3.6 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
27 mo
Avg between rounds
$2.5M/yr
Capital velocity
17.2 yr
On record since
2009
First round
7
Rounds on file
How it compares to the market

Benchmarked against 25008 companies in Other. 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$34.3M
Sector median$2.0M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$1.1M
Sector median$19.6M
Modeled value — vs sector median (estimate, all stages) 1.5× above median
This company$26.5M
Sector median$17.7M

Raised more than 90% of sector peers (real $). Modeled value above 60% 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 #424 of 465.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Ever/Body, Inc. · Series B Raised $64.2M · modeled $430.2M (est)Financeware Holdings LLC · Series B Raised $59.7M · modeled $413.0M (est)American Cricket Enterprises Inc. · Series B Raised $39.0M · modeled $409.2M (est)Xlerate Ultimate Holdings, Lp · Series B Raised $62.2M · modeled $405.9M (est)MDME Ultimate Holdings, LP · Series B Raised $39.9M · modeled $395.4M (est)aXiomatic, LLC · Series B Raised $138.8M · modeled $389.3M (est)Moov Financial, Inc. · Series B Raised $69.2M · modeled $378.4M (est)NovaVision Holdings, LLC · Series B Raised $38.4M · modeled $373.9M (est)Ttxa Ii 2022, Lp · Series B Raised $35.0M · modeled $369.4M (est)Encamp, Inc. · Series B Raised $54.0M · modeled $363.2M (est)JAF Communications Holdings, LLC · Series B Raised $36.8M · modeled $358.7M (est)Enboarder Inc. · Series B Raised $39.7M · modeled $357.0M (est)Sellars Absorbent Materials, Inc. (this company) Raised $34.3M · modeled $26.5M (est)Sellars Absorbent Materials, Inc.
CompanyStageRaised · realValue · estvs peer med.
Ever/Body, Inc.Series B$64.2M$430.2M2.73×
Financeware Holdings LLCSeries B$59.7M$413.0M2.62×
American Cricket Enterprises Inc.Series B$39.0M$409.2M2.59×
Xlerate Ultimate Holdings, LpSeries B$62.2M$405.9M2.57×
MDME Ultimate Holdings, LPSeries B$39.9M$395.4M2.51×
aXiomatic, LLCSeries B$138.8M$389.3M2.47×
Moov Financial, Inc.Series B$69.2M$378.4M2.40×
NovaVision Holdings, LLCSeries B$38.4M$373.9M2.37×
Ttxa Ii 2022, LpSeries B$35.0M$369.4M2.34×
Encamp, Inc.Series B$54.0M$363.2M2.30×
JAF Communications Holdings, LLCSeries B$36.8M$358.7M2.27×
Enboarder Inc.Series B$39.7M$357.0M2.26×
Sellars Absorbent Materials, Inc. this companySeries B$34.3M$26.5M0.17×
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$10.7M2009-04-22$48.8M$162.3M85%
Series A$250K2009-09-09$1.1M$3.8M85%
Series A$10.7M2013-06-12$48.5M$161.5M85%
Series B$20.5M2020-12-18$113.8M$303.4M90%
Seed$2.1M2022-11-29$10.3M$15.6M90%
Series B$2.9M2022-11-29$16.0M$26.5M90%
Seed$1.1M2022-11-29$5.3M$8.0M90%
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$10.7M2009-04-22
    • First recorded raise — entered as Series A.
    • 90 investors on this round.
  2. Series A$250K2009-09-09
    • Came back fast: 5 mo vs the ~11 mo sector norm.
    • Round 42.9× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  3. Series A$10.7M2013-06-12
    • Raised again after 45 mo — slower than the ~11 mo sector norm.
    • Round 42.7× larger than the prior — scaling up.
    • 3 investors on this round.
  4. Series B$20.5M2020-12-18
    • Raised again after 90 mo — slower than the ~11 mo sector norm.
    • Round 1.9× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 88 investors on this round.
  5. Seed$2.1M2022-11-29
    • Raised again after 23 mo — slower than the ~11 mo sector norm.
    • Round 10.0× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  6. Series B$2.9M2022-11-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× larger than the prior — scaling up.
    • 16 investors on this round.
  7. Seed$1.1M2022-11-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.8× smaller than the prior — bridge or down round.
    • 3 investors on this round.
Intelligence
2025 ~Q1
Modeled next raise · ~27mo cadence
$1.1M
Modeled next size est.range $1.1M$1.7M
0.4×
Last step-up
$2.5M/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
Patrick A. Hopf2 other2009-04
Paul D. Grangaard2 other2022-11
Peter T. Geisert1 other2009-04
Cynthia D. Burks2022-11
Cynthia R. Burks2022-11
David E. Lundgren2020-12
David M. Wilds2009-04
David R. Lundgren2022-11
Don D. Lewis2022-11
Gregory E. Larson2020-12
Jeffrey G. Beine2020-12
Jeffrey R. Porter2020-12
Jerry Ballas2009-04
Jerry J. Ballas2013-06
Jerry R. Ballas2020-12
John A. Lutz2022-11
John C. Sellars2009-04
Julie A. Graverson2022-11
Julie D. Graverson2022-11
Lawrence J. Borger2009-04
Martyn R. Davis2020-12
Nilda-Cintron A. Cortez2022-11
Nilda-Cintron D. Cortez2022-11
Thomas A. Sellars2009-04
Registry & provenance

Sellars Absorbent Materials, 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
1236732
SEC CIK
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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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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
Absorbits, IncOtherSeries A$17.6M84%
Saleen Automotive, Inc.OtherSeries A$38.0M80%
Hydroeffacer CorpOtherPre-Seed$11.6M78%
Sellars Mezz Debt Investors, LLCOtherSeries A$186.5M78%
Interphase Materials Holdings, LLCOtherPre-Seed$21.0M78%
Sellhound Inc.OtherPre-Seed$7.8M78%
Onar Holding CorpOtherPre-Seed$1.3M77%
CANarchy Holding Co LLCOtherSeries D+$86.3M77%
Frequently asked
How much funding has Sellars Absorbent Materials, Inc. raised?
Sellars Absorbent Materials, Inc. has raised approximately $34.3M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Sellars Absorbent Materials, Inc.'s estimated valuation?
Provath's modeled valuation for Sellars Absorbent Materials, Inc. is approximately $26.5M (modeled range $7.2M–$64.1M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Sellars Absorbent Materials, Inc. at?
Sellars Absorbent Materials, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Tue Nov 29.
What does Sellars Absorbent Materials, Inc. do and where is it based?
Sellars Absorbent Materials, Inc. operates in the Other sector, based in Milwaukee.
Explore related

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