Companies · Cybersecurity

Shape Security, Inc.

Menlo Park · Cybersecurity · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Shape Security, Inc. — recommendation, valuation, rhythm, risks.
$91.6M
Total raised · real
4
Rounds
0.6×
Latest step-up
Top 5%
Sector rank · raised
Series C
Latest stage · inferred · Tue Sep 25 2018 00:00:00 GMT+0000 (Coordinated Universal Time)

Shape Security, Inc. has raised $92M over 4 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the cybersecurity sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Dormant
  • Last raise 7.8 yr ago; this sector typically re-raises about every 15 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 Cybersecurity

Shape Security, Inc. is one of 270 Cybersecurity companies tracked from Menlo Park. By capital raised it ranks among the largest (ahead of 96% of sector peers), and among the largest 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
17
Investors (latest)
2018-09-25
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 · 2012-04-09 Raised $5.6M (real) Modeled valuation $176M (est)$5.6M$176MSeries A2012Series B · 2012-12-21 Raised $20M (real) Modeled valuation $692M (est)$20M$692MSeries B2012Series C · 2014-02-21 Raised $40M (real) Modeled valuation $1.4B (est)$40M$1.4BSeries C2014Series C · 2014-02-21 Raised $40M (real) Modeled valuation $1.4B (est)$40M$1.4BSeries C2014Series C · 2018-09-25 Raised $26M (real) Modeled valuation $928M (est)$26M$928MSeries C2018+$20M+$40M+$40M+$26MCumulative $132M

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$5.6M · 2012
Series B$20.0M · 2012
Series C$40.0M · 2014
Series C extension$40.0M · 2014
Series C extension$26.0M · 2018

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$928.1M
Base estimate est.
$100.5M
Conservative case
$2.4B
Upside case
$173.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the cybersecurity sector profile. Directional, not a quoted figure.

Series A · modeled $176.0M · 2012-04-092012Series B · modeled $691.8M · 2012-12-21Series C · modeled $1.4B · 2014-02-21Series C · modeled $1.4B · 2014-02-21Series C · modeled $928.1M · 2018-09-252018
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
78%
Survival probability
58% low · 90% high
1.38×/yr
Annual markup
1.58×/yr upside case
6.0 yr
Elapsed time used
7.8 yr actual, capped for stale marks
cybersecurity
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
19 mo
Avg between rounds
$14.2M/yr
Capital velocity
14.2 yr
On record since
2012
First round
5
Rounds on file
How it compares to the market

Benchmarked against 270 companies in Cybersecurity. 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) 15× above median
This company$91.6M
Sector median$6.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.5× of median
This company$26.0M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 20× above median
This company$928.1M
Sector median$45.4M

Raised more than 96% of sector peers (real $). Modeled value above 96% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0MCapital raised (log)DWM Securitizations S.A. · Series C Raised $60.8M · modeled $2.2B (est)Lookingglass Cyber Solutions, Inc. · Series C Raised $87.3M · modeled $357.0M (est)Shape Security, Inc. (this company) Raised $91.6M · modeled $928.1M (est)Shape Security, Inc.
CompanyStageRaised · realValue · estvs peer med.
DWM Securitizations S.A.Series C$60.8M$2.2B2.34×
Shape Security, Inc. this companySeries C$91.6M$928.1M1.00×
Lookingglass Cyber Solutions, Inc.Series C$87.3M$357.0M0.38×
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$5.6M2012-04-09$25.4M$176.0M85%
Series B$20.0M2012-12-21$111.1M$691.8M85%
Series C$40.0M2014-02-21$266.7M$1.4B85%
Series C$40.0M2014-02-21$266.7M$1.4B85%
Series C$26.0M2018-09-25$173.3M$928.1M90%
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$5.6M2012-04-09
    • First recorded raise — entered as Series A.
    • 17 investors on this round.
  2. Series B$20.0M2012-12-21
    • Came back fast: 8 mo vs the ~15 mo sector norm.
    • Round 3.6× larger than the prior — scaling up.
    • 8 investors on this round.
  3. Series C$40.0M2014-02-21
    • Raised 14 mo later, in step with the ~15 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 9 investors on this round.
  4. Series C$40.0M2014-02-21
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 9 investors on this round.
  5. Series C$26.0M2018-09-25
    • Raised again after 55 mo — slower than the ~15 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 17 investors on this round.
Intelligence
2020 ~Q2
Modeled next raise · ~19mo cadence
$26.0M
Modeled next size est.range $26.0M$41.6M
0.6×
Last step-up
$14.2M/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
Ted Schlein15 other2014-02
Promod Haque12 other2018-09
Gaurav Garg11 other2014-02
Ray Rothrock9 other2014-02
Derek Smith6 other2014-02
Kevin Mandia3 other2018-09
Derek W. Smith2 other2012-04
Ted W. Schlein2 other2012-04
Justin Call1 other2014-02
Gaurav W. Garg2012-04
Hasan Imam2018-09
Justin W. Call2012-04
Ray W. Rothrock2012-12
Shuman Ghosemajumder2018-09
Sumit Agarwal2014-02
Sumit W. Agarwal2012-04
Tamara MacDuff2014-02
Todd W. Sullivan2012-04
Troy W. Tribe2012-04
T Schlein2014-02
Registry & provenance

Shape Security, 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
1548097
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
Synack, Inc.OtherSeries C$106.9M$885.0Mnetwork4 shared operators · same stage
Ionic Security Inc.CybersecuritySeries C$186.8M$15.7Mnetwork1 shared operator · same sector · same stage
Secure Community (01-45) LLCCybersecuritySeries C$90.0M$648.5Msame sector · same stage
Lookingglass Cyber Solutions, Inc.CybersecuritySeries C$87.3M$357.0Msame sector · same stage
Secure Tomorrow (01-45), LlcCybersecuritySeries C$82.8M$736.6Msame sector · same stage
SecurityScorecard, Inc.CybersecuritySeries C$112.1M$1.8Bsame sector · same stage
Picus Security, Inc.CybersecuritySeries C$69.0M$417.3Msame sector · same stage
Sonrai Security Inc.CybersecuritySeries C$67.6M$1.2Bsame sector · same stage
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
Method Security, Inc.CybersecuritySeries A$34.9M86%
Helmet Security, Inc.CybersecuritySeries A$21.7M85%
Push Security, Inc.CybersecuritySeries B$186.9M84%
Cyberspatial Inc.CybersecuritySeed$6.6M83%
Scope Security, Inc.CybersecuritySeries B$404.9M83%
Shapes Corp.Other TechnologySeries A$68.0M83%
Shape Operating System Industries, Inc.Software / TechSeries A$319.0M83%
Fortress Security Holdings, LLCCybersecuritySeries A$141.8M82%
Frequently asked
How much funding has Shape Security, Inc. raised?
Shape Security, Inc. has raised approximately $91.6M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Shape Security, Inc.'s estimated valuation?
Provath's modeled valuation for Shape Security, Inc. is approximately $928.1M (modeled range $100.5M–$2.4B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Shape Security, Inc. at?
Shape Security, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Tue Sep 25.
What does Shape Security, Inc. do and where is it based?
Shape Security, Inc. operates in the Cybersecurity sector, based in Menlo Park.
Explore related

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