Companies · Healthtech

ShockWave Medical, Inc.

SANTA CLARA · Healthtech · refined from filed group “Other Health Care

Diligence memoA one-page analyst read on ShockWave Medical, Inc. — recommendation, valuation, rhythm, risks.
$144.8M
Total raised · real
4
Rounds
0.7×
Latest step-up
Top 4%
Sector rank · raised
Series C
Latest stage · inferred · Mon Mar 11 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

ShockWave Medical, 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 healthtech 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 0.23× the median modeled value of Series C Healthtech companies in 2019–2021 (33 peers) — value vs value, same stage and era.
Dormant
  • Last raise 7.3 yr ago; this sector typically re-raises about every 14 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 Healthtech

ShockWave Medical, Inc. is one of 2138 Healthtech companies tracked from SANTA CLARA. By capital raised it ranks among the largest (ahead of 97% of sector peers), and in the upper tier 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)
2019-03-11
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$1.3B$2.5B$3.8B$5.0BSeries B · 2015-05-12 Raised $40M (real) Modeled valuation $987M (est)$40M$987MSeries B2015Series C · 2016-11-10 Raised $45M (real) Modeled valuation $1.2B (est)$45M$1.2BSeries C2016Series C · 2016-11-10 Raised $80M (real) Modeled valuation $2.0B (est)$80M$2.0BSeries C2016Series C · 2018-12-06 Raised $15M (real) Modeled valuation $384M (est)$15M$384MSeries C2018Series C · 2019-03-11 Raised $10.0M (real) Modeled valuation $256M (est)$10.0M$256MSeries C2019+$45M+$80M+$15M+$10.0MCumulative $190M

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 B$39.8M · 2015
Series C$45.0M · 2016
Series C extension$80.0M · 2016
Series C extension$15.0M · 2018
Series C extension$10.0M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$255.8M
Base estimate est.
$36.3M
Conservative case
$673.9M
Upside case
$66.7M
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 healthtech sector profile. Directional, not a quoted figure.

Series B · modeled $987.5M · 2015-05-122015Series C · modeled $1.2B · 2016-11-10Series C · modeled $2.0B · 2016-11-10Series C · modeled $383.6M · 2018-12-06Series C · modeled $255.8M · 2019-03-112019
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
73%
Survival probability
55% low · 85% high
1.32×/yr
Annual markup
1.51×/yr upside case
6.0 yr
Elapsed time used
7.3 yr actual, capped for stale marks
healthtech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$37.8M/yr
Capital velocity
11.1 yr
On record since
2015
First round
5
Rounds on file
How it compares to the market

Benchmarked against 2138 companies in Healthtech. 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) 32× above median
This company$144.8M
Sector median$4.5M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.2× of median
This company$10.0M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 7.6× above median
This company$255.8M
Sector median$33.8M

Raised more than 97% of sector peers (real $). Modeled value above 88% 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 company ranks #30 of 33.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Virta Health Corp. · Series C Raised $122.0M · modeled $2.4B (est)Fresenius Medical Care Voorhees, LLC · Series C Raised $71.1M · modeled $1.8B (est)Clear Health Pass Holdings LLC · Series C Raised $100.0M · modeled $1.8B (est)Zealth, Inc. · Series C Raised $95.0M · modeled $1.7B (est)Jawbone Health Hub, Inc. · Series C Raised $65.4M · modeled $1.7B (est)Boston Health Economic Holdings, LLC · Series C Raised $63.0M · modeled $1.6B (est)PWN Health Holdings, Inc. · Series C Raised $61.8M · modeled $1.5B (est)Quartet Health, Inc. · Series C Raised $127.0M · modeled $1.4B (est)Workit Health, Inc. · Series C Raised $87.9M · modeled $1.4B (est)Ajax Health II LLC · Series C Raised $51.0M · modeled $1.3B (est)Eden Health, Inc. · Series C Raised $73.4M · modeled $1.3B (est)NeuSpera Medical Inc. · Series C Raised $88.6M · modeled $1.3B (est)ShockWave Medical, Inc. (this company) Raised $144.8M · modeled $255.8M (est)ShockWave Medical, Inc.
CompanyStageRaised · realValue · estvs peer med.
Virta Health Corp.Series C$122.0M$2.4B2.19×
Fresenius Medical Care Voorhees, LLCSeries C$71.1M$1.8B1.67×
Clear Health Pass Holdings LLCSeries C$100.0M$1.8B1.67×
Zealth, Inc.Series C$95.0M$1.7B1.55×
Jawbone Health Hub, Inc.Series C$65.4M$1.7B1.54×
Boston Health Economic Holdings, LLCSeries C$63.0M$1.6B1.48×
PWN Health Holdings, Inc.Series C$61.8M$1.5B1.39×
Quartet Health, Inc.Series C$127.0M$1.4B1.28×
Workit Health, Inc.Series C$87.9M$1.4B1.27×
Ajax Health II LLCSeries C$51.0M$1.3B1.20×
Eden Health, Inc.Series C$73.4M$1.3B1.19×
NeuSpera Medical Inc.Series C$88.6M$1.3B1.19×
ShockWave Medical, Inc. this companySeries C$144.8M$255.8M0.23×
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 B$39.8M2015-05-12$221.4M$987.5M85%
Series C$45.0M2016-11-10$300.0M$1.2B90%
Series C$80.0M2016-11-10$533.3M$2.0B90%
Series C$15.0M2018-12-06$100.0M$383.6M90%
Series C$10.0M2019-03-11$66.7M$255.8M90%
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 B$39.8M2015-05-12
    • First recorded raise — entered as Series B.
    • 29 investors on this round.
  2. Series C$45.0M2016-11-10
    • Raised 18 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 22 investors on this round.
  3. Series C$80.0M2016-11-10
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.8× larger than the prior — scaling up.
    • 27 investors on this round.
  4. Series C$15.0M2018-12-06
    • Raised again after 25 mo — slower than the ~14 mo sector norm.
    • Round 5.3× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  5. Series C$10.0M2019-03-11
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2020 ~Q1
Modeled next raise · ~11mo cadence
$10.0M
Modeled next size est.range $10.0M$16.0M
0.7×
Last step-up
$37.8M/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
Frederic Moll9 other2018-12
Frederic H. Moll7 other2015-05
ANTOINE PAPIERNIK5 other2018-12
Jay Watkins5 other2018-12
Marc-Andre Marcotte5 other2018-12
Daniel Hawkins3 other2015-05
Douglas Godshall3 other2018-12
Doug Godshall2 other2016-11
Colin Cahill1 other2018-12
Jay H. Watkins1 other2015-05
Laura Francis1 other2019-03
Todd Brinton1 other2018-12
Antoine H. Papiernik2015-05
Colin H. Cahill2015-05
Dan H. Puckett2016-11
Dan Puckett2018-12
Isaac Zacharias2018-12
Michael H. Sjostrom2016-11
Raymond Larkin2019-03
Todd J. Brinton2015-05
Registry & provenance

ShockWave Medical, 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
1642545
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
Avail Medsystems, Inc.Other Health CareSeries C$126.7M$2.2Bnetwork4 shared operators · same stage
RefleXion Medical, Inc.HealthtechSeries D+$413.0M$1.3Bnetwork3 shared operators · same sector
Galvanize Therapeutics, Inc.BiotechnologySeries C$150.7M$581.7Mnetwork2 shared operators · same stage
Auris Health, Inc.HealthtechSeries D+$718.1M$5.3Bnetwork2 shared operators · same sector
Conformal Medical, Inc.HealthtechSeries C$145.1M$200.3Msame sector · same stage
Aerin Medical Inc.HealthtechSeries C$145.2M$243.2Msame sector · same stage
4C Medical Technologies, Inc.HealthtechSeries C$145.5M$382.9Msame sector · same stage
Saluda Medical, Inc.HealthtechSeries D+$180.0M$232.2Mnetwork1 shared operator · same sector
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
Aerwave Medical, Inc.HealthtechSeed$45.1M88%
Mindwave Medical, Inc.HealthtechPre-Seed$835K87%
Radwave Technologies Inc.Software / TechSeed$1.7M86%
BrightSpring Health Services, Inc.HealthtechSeries B$192.6M82%
Lightfield Medical, Inc.HealthtechSeed$9.2M82%
Impulse Medical, Inc.HealthtechPre-Seed$3.0M82%
CarbonWave, Inc.Other Health CareSeed$13.1M82%
Biowave CorpOther Health CareSeed$33.0M81%
Frequently asked
How much funding has ShockWave Medical, Inc. raised?
ShockWave Medical, Inc. has raised approximately $144.8M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is ShockWave Medical, Inc.'s estimated valuation?
Provath's modeled valuation for ShockWave Medical, Inc. is approximately $255.8M (modeled range $36.3M–$673.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is ShockWave Medical, Inc. at?
ShockWave Medical, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Mon Mar 11.
What does ShockWave Medical, Inc. do and where is it based?
ShockWave Medical, Inc. operates in the Healthtech sector, based in SANTA CLARA.
Explore related

See where ShockWave Medical, 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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