Companies · Telecommunications

SmartSky Networks, LLC

Morrisville · Telecommunications

Diligence memoA one-page analyst read on SmartSky Networks, LLC — recommendation, valuation, rhythm, risks.
$234.7M
Total raised · real
6
Rounds
0.4×
Latest step-up
Top 4%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Sep 14 2018 00:00:00 GMT+0000 (Coordinated Universal Time)

SmartSky Networks, LLC 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 telecom 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 0.39× the median modeled value of Series D+ Telecommunications companies in 2016–2018 (9 peers) — value vs value, same stage and era.
Dormant
  • Last raise 7.8 yr ago; this sector typically re-raises about every 10 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

SmartSky Networks, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
14.0 yr record
Peak capital year was 2017 with $242.3M across 2 filings.
Market position
ahead of 97% of Telecommunications peers
Capital scale is ahead of 97% of Telecommunications peers; modeled value is above 93% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2017: $242.3M across 2 filings.
  • Largest single filing was $175.6M on 2017-02-02.
  • Filing rows sum to $326.5M, while canonical raised total is $234.7M; likely amendments/superseded rows are mixed into the detail view.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
  • Canonical filtering should be tightened before using row-level totals for diligence.
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 Telecommunications

SmartSky Networks, LLC is one of 929 Telecommunications companies tracked from Morrisville. By capital raised it ranks among the largest (ahead of 97% 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
6
Investors (latest)
2018-09-14
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$5.0BPre-Seed · 2012-07-15 Raised $500K (real) Modeled valuation $13M (est)Pre-Seed2012Seed · 2013-07-05 Raised $2.9M (real) Modeled valuation $62M (est)Seed2013Seed · 2014-06-02 Raised $537K (real) Modeled valuation $12M (est)Seed2014Series A · 2014-10-29 Raised $12M (real) Modeled valuation $212M (est)Series A2014Series A · 2014-10-29 Raised $7.7M (real) Modeled valuation $136M (est)Series A2014Series D+ · 2017-02-02 Raised $176M (real) Modeled valuation $3.5B (est)Series D+2017Series C · 2017-02-02 Raised $67M (real) Modeled valuation $1.3B (est)Series C2017Series D+ · 2018-09-14 Raised $43M (real) Modeled valuation $861M (est)Series D+2018Series B · 2018-09-14 Raised $17M (real) Modeled valuation $335M (est)Series B2018+$2.9M+$537K+$12M+$7.7M+$176M+$67M+$43M+$17MCumulative $327M

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$500K · 2012
Seed$2.9M · 2013
Seed extension$537K · 2014
Series A$12.1M · 2014
Series A extension$7.7M · 2014
Series D+$175.6M · 2017no Series B / Series C on file
Bridge · Series D+-stage$66.7M · 2017smaller follow-on
Series D+ extension$43.1M · 2018
Bridge · Series D+-stage$17.4M · 2018smaller 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
$860.7M
Base estimate est.
$236.7M
Conservative case
$1.9B
Upside case
$358.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the telecom sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $13.4M · 2012-07-152012Seed · modeled $62.4M · 2013-07-05Seed · modeled $11.6M · 2014-06-02Series A · modeled $211.8M · 2014-10-29Series A · modeled $135.8M · 2014-10-29Series D+ · modeled $3.5B · 2017-02-02Series C · modeled $1.3B · 2017-02-02Series D+ · modeled $860.7M · 2018-09-14Series B · modeled $334.9M · 2018-09-142018
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
66% low · 91% high
1.20×/yr
Annual markup
1.34×/yr upside case
6.0 yr
Elapsed time used
7.8 yr actual, capped for stale marks
telecom
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
9 mo
Avg between rounds
$38.1M/yr
Capital velocity
14.0 yr
On record since
2012
First round
9
Rounds on file
How it compares to the market

Benchmarked against 929 companies in Telecommunications. 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) 59× above median
This company$234.7M
Sector median$4.0M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.1× of median
This company$17.4M
Sector median$135.9M
Modeled value — vs sector median (estimate, all stages) 30× above median
This company$860.7M
Sector median$28.3M

Raised more than 97% of sector peers (real $). Modeled value above 93% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #8 of 9.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)IWG Holdings, LLC · Series D+ Raised $269.9M · modeled $5.4B (est)Trident Private Holdings III, LLC · Series D+ Raised $230.3M · modeled $4.6B (est)GTCR Onvoy Holdings LLC · Series D+ Raised $167.9M · modeled $3.2B (est)INFINERA Corp · Series D+ Raised $129.6M · modeled $2.6B (est)MIV Greeneden LP Holding SCA · Series D+ Raised $124.0M · modeled $2.2B (est)MTN Infrastructure TopCo, LP · Series D+ Raised $107.2M · modeled $2.1B (est)Starry, Inc. · Series D+ Raised $130.0M · modeled $2.0B (est)LTS Co-Invest Blocker II LLC · Series D+ Raised $181.4M · modeled $611.0M (est)SmartSky Networks, LLC (this company) Raised $234.7M · modeled $860.7M (est)SmartSky Networks, LLC
CompanyStageRaised · realValue · estvs peer med.
IWG Holdings, LLCSeries D+$269.9M$5.4B2.43×
Trident Private Holdings III, LLCSeries D+$230.3M$4.6B2.07×
GTCR Onvoy Holdings LLCSeries D+$167.9M$3.2B1.44×
INFINERA CorpSeries D+$129.6M$2.6B1.17×
MIV Greeneden LP Holding SCASeries D+$124.0M$2.2B1.00×
MTN Infrastructure TopCo, LPSeries D+$107.2M$2.1B0.97×
Starry, Inc.Series D+$130.0M$2.0B0.90×
SmartSky Networks, LLC this companySeries D+$234.7M$860.7M0.39×
LTS Co-Invest Blocker II LLCSeries D+$181.4M$611.0M0.28×
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$500K2012-07-15$2.8M$13.4M85%
Seed$2.9M2013-07-05$14.5M$62.4M85%
Seed$537K2014-06-02$2.7M$11.6M85%
Series A$12.1M2014-10-29$54.9M$211.8M85%
Series A$7.7M2014-10-29$35.2M$135.8M85%
Series D+$175.6M2017-02-02$1.5B$3.5B90%
Series C$66.7M2017-02-02$444.3M$1.3B90%
Series D+$43.1M2018-09-14$358.8M$860.7M90%
Series B$17.4M2018-09-14$96.7M$334.9M90%
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$500K2012-07-15
    • First recorded raise — entered as Pre-Seed.
    • 5 investors on this round.
  2. Seed$2.9M2013-07-05
    • Raised 12 mo later, in step with the ~10 mo sector norm.
    • Round 5.8× larger than the prior — scaling up.
    • 14 investors on this round.
  3. Seed$537K2014-06-02
    • Raised 11 mo later, in step with the ~10 mo sector norm.
    • Round 5.4× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 1 investor on this round.
  4. Series A$12.1M2014-10-29
    • Came back fast: 5 mo vs the ~10 mo sector norm.
    • Round 22.5× larger than the prior — scaling up.
    • Revenue band moved No revenue → $0–$1M.
    • 45 investors on this round.
  5. Series A$7.7M2014-10-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× smaller than the prior — bridge or down round.
    • 28 investors on this round.
  6. Series D+$175.6M2017-02-02
    • Raised again after 27 mo — slower than the ~10 mo sector norm.
    • Round 22.7× larger than the prior — scaling up.
    • Revenue band moved $0–$1M → No revenue.
    • 5 investors on this round.
  7. Series C$66.7M2017-02-02
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.6× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  8. Series D+$43.1M2018-09-14
    • Raised again after 19 mo — slower than the ~10 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  9. Series B$17.4M2018-09-14
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 6 investors on this round.
Intelligence
2019 ~Q2
Modeled next raise · ~9mo cadence
$17.4M
Modeled next size est.range $17.4M$27.8M
0.4×
Last step-up
$38.1M/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
Haynes G. Griffin5 other2012-07
Richard C. Rowlenson5 other2014-06
Ryan M. Stone4 other2012-07
G. Jackson Tankersley, Jr.3 other2014-10
Donald W. Phillips2 other2018-09
Emil W. Henry, Jr.2 other2017-02
Frank D. Yeary2 other2014-10
Reed E Hundt2 other2014-06
Andrew P Caplan1 other2014-06
Fred R. Lummis1 other2017-02
Lloyd B. Thompson1 other2017-02
Matthew J. Petzold1 other2017-02
Antony M. Barker2017-02
Blane E. Rockafellow2014-06
Carter S. Griffin2018-09
Claude Alan Goodnight2014-06
David A. Claassen2014-06
Douglas A. Hyslop2014-06
Eric L. Legvold2012-07
E. S. Eskridge, Jr.2012-07
James S. Ladd2018-09
Michael A. Dodson2014-06
Michael D. Dodson2018-09
Michael W. Dodson2017-02
Registry & provenance

SmartSky Networks, LLC 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
1553431
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
SmartSky New HoldCo, LLCTelecommunicationsSeries C$115.7M$344.4Mnetwork5 shared operators · same sector
SmartSky Investco, LLCTelecommunicationsSeries C$68.3M$465.1Mnetwork11 shared operators · same sector
Series B SmartSky II, LLCTelecommunicationsSeed$1.7M$17.2Mnetwork3 shared operators · same sector
Series B SmartSky I, LLCTelecommunicationsPre-Seed$908K$9.9Mnetwork3 shared operators · same sector
Legacy SmartSky, LLCTelecommunicationsSeries A$8.1M$97.9Mnetwork2 shared operators · same sector
VFN Holdings, Inc.TelecommunicationsSeries D+$188.0M$919.0Msame sector · same stage
LTS Co-Invest Blocker II LLCTelecommunicationsSeries D+$181.4M$611.0Msame sector · same stage
Juniper Networks IncTelecommunicationsSeries D+$163.6M$78.1Msame 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
SmartSky Investco, LLCTelecommunicationsSeries C$465.1M94%
Legacy SmartSky, LLCTelecommunicationsSeries A$97.9M92%
SmartSky New HoldCo, LLCTelecommunicationsSeries C$344.4M89%
Series B SmartSky I, LLCTelecommunicationsPre-Seed$9.9M87%
Series B SmartSky II, LLCTelecommunicationsSeed$17.2M86%
Mainstream Fiber Networks, LLCTelecommunicationsSeries A$59.3M80%
Infrastructure Networks, Inc.TelecommunicationsSeries B$533.3M80%
Lorenz Labs IncTelecommunicationsPre-Seed$947K80%
Frequently asked
How much funding has SmartSky Networks, LLC raised?
SmartSky Networks, LLC has raised approximately $234.7M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is SmartSky Networks, LLC's estimated valuation?
Provath's modeled valuation for SmartSky Networks, LLC is approximately $860.7M (modeled range $236.7M–$1.9B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is SmartSky Networks, LLC at?
SmartSky Networks, LLC's latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Sep 14.
What does SmartSky Networks, LLC do and where is it based?
SmartSky Networks, LLC operates in the Telecommunications sector, based in Morrisville.
Explore related

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