Companies · Restaurants

Smashburger Master LLC

DENVER · Restaurants

Diligence memoA one-page analyst read on Smashburger Master LLC — recommendation, valuation, rhythm, risks.
$79.4M
Total raised · real
5
Rounds
9.9×
Latest step-up
Top 2%
Sector rank · raised
Series C
Latest stage · inferred · Fri Sep 19 2014 00:00:00 GMT+0000 (Coordinated Universal Time)

Smashburger Master LLC looks fair 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 restaurants sector profile.

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

Fair
  • Modeled value is 0.92× the median modeled value of Series C Restaurants companies in 2013–2015 (6 peers) — value vs value, same stage and era.
  • Within the normal band (92% of peer median) for its niche.
Dormant
  • Last raise 11.8 yr ago; this sector typically re-raises about every 13 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

Smashburger Master 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
16.5 yr record
Peak capital year was 2014 with $48.0M across 1 filings.
Market position
ahead of 99% of Restaurants peers
Capital scale is ahead of 99% of Restaurants peers; modeled value is above 99% 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Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.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 2014: $48.0M across 1 filings.
  • Largest single filing was $48.0M on 2014-09-19.
  • Filing rows sum to $89.1M, while canonical raised total is $79.4M; 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 Restaurants

Smashburger Master LLC is one of 2292 Restaurants companies tracked from DENVER. By capital raised it ranks among the largest (ahead of 99% 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
23
Investors (latest)
2014-09-19
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$50M$100M$150M$200MPre-Seed · 2010-01-11 Raised $1.0M (real) Modeled valuation $4.4M (est)Pre-Seed2010Series A · 2011-10-28 Raised $5.8M (real) Modeled valuation $17M (est)Series A2011Series B · 2012-07-19 Raised $20M (real) Modeled valuation $62M (est)Series B2012Seed · 2013-08-28 Raised $1.3M (real) Modeled valuation $4.7M (est)Seed2013Seed · 2013-08-28 Raised $3.8M (real) Modeled valuation $13M (est)Seed2013Seed · 2013-08-28 Raised $1.0M (real) Modeled valuation $3.7M (est)Seed2013Seed · 2013-08-28 Raised $3.5M (real) Modeled valuation $12M (est)Seed2013Series B · 2013-08-28 Raised $4.8M (real) Modeled valuation $15M (est)Series B2013Series C · 2014-09-19 Raised $48M (real) Modeled valuation $156M (est)Series C2014+$5.8M+$20M+$1.3M+$3.8M+$1.0M+$3.5M+$4.8M+$48MCumulative $89M

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$1.0M · 2010
Series A$5.8M · 2011no Seed on file
Series B$19.8M · 2012
Bridge · Series B-stage$1.3M · 2013smaller follow-on
Bridge · Series B-stage$3.8M · 2013smaller follow-on
Bridge · Series B-stage$1.0M · 2013smaller follow-on
Bridge · Series B-stage$3.5M · 2013smaller follow-on
Series B extension$4.8M · 2013
Series C$48.0M · 2014

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

Modeled valuation trajectory
$155.5M
Base estimate est.
$155.7M
Conservative case
$409.8M
Upside case
$319.7M
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 restaurants sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $4.4M · 2010-01-112010Series A · modeled $16.6M · 2011-10-28Series B · modeled $62.3M · 2012-07-19Seed · modeled $4.7M · 2013-08-28Seed · modeled $13.3M · 2013-08-28Seed · modeled $3.7M · 2013-08-28Seed · modeled $12.4M · 2013-08-28Series B · modeled $15.2M · 2013-08-28Series C · modeled $155.5M · 2014-09-192014
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
66%
Survival probability
49% low · 76% high
0.95×/yr
Annual markup
1.09×/yr upside case
6.0 yr
Elapsed time used
11.8 yr actual, capped for stale marks
restaurants
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$16.9M/yr
Capital velocity
16.5 yr
On record since
2010
First round
9
Rounds on file
How it compares to the market

Benchmarked against 2292 companies in Restaurants. 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) 88× above median
This company$79.4M
Sector median$900K
Latest round — vs other Series C rounds in sector (real $, this stage) 1.0× of median
This company$48.0M
Sector median$48.4M
Modeled value — vs sector median (estimate, all stages) 59× above median
This company$155.5M
Sector median$2.6M

Raised more than 99% of sector peers (real $). Modeled value above 99% 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 #4 of 6.

This companyCohort peer
$100K$1.0M$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Levy Epic Acquisition Co II, LLC · Series C Raised $88.3M · modeled $286.4M (est)Fish Parent Holdings LLC · Series C Raised $65.3M · modeled $211.9M (est)Fish Super Holdings LLC · Series C Raised $56.2M · modeled $182.2M (est)Chop't Creative Salad Co LLC · Series C Raised $66.5M · modeled $81.4M (est)KBP Investments, LLC · Series C Raised $61.6M · modeled $1.1M (est)Smashburger Master LLC (this company) Raised $79.4M · modeled $155.5M (est)Smashburger Master LLC
CompanyStageRaised · realValue · estvs peer med.
Levy Epic Acquisition Co II, LLCSeries C$88.3M$286.4M1.70×
Fish Parent Holdings LLCSeries C$65.3M$211.9M1.25×
Fish Super Holdings LLCSeries C$56.2M$182.2M1.08×
Smashburger Master LLC this companySeries C$79.4M$155.5M0.92×
Chop't Creative Salad Co LLCSeries C$66.5M$81.4M0.48×
KBP Investments, LLCSeries C$61.6M$1.1M0.01×
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$1.0M2010-01-11$5.6M$4.4M85%
Series A$5.8M2011-10-28$26.3M$16.6M85%
Series B$19.8M2012-07-19$110.1M$62.3M85%
Seed$1.3M2013-08-28$6.7M$4.7M85%
Seed$3.8M2013-08-28$18.9M$13.3M85%
Seed$1.0M2013-08-28$5.2M$3.7M85%
Seed$3.5M2013-08-28$17.6M$12.4M85%
Series B$4.8M2013-08-28$26.9M$15.2M90%
Series C$48.0M2014-09-19$319.7M$155.5M85%
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$1.0M2010-01-11
    • First recorded raise — entered as Pre-Seed.
    • 12 investors on this round.
  2. Series A$5.8M2011-10-28
    • Raised again after 22 mo — slower than the ~13 mo sector norm.
    • Round 5.8× larger than the prior — scaling up.
    • 37 investors on this round.
  3. Series B$19.8M2012-07-19
    • Raised 9 mo later, in step with the ~13 mo sector norm.
    • Round 3.4× larger than the prior — scaling up.
    • 39 investors on this round.
  4. Seed$1.3M2013-08-28
    • Raised 13 mo later, in step with the ~13 mo sector norm.
    • Round 14.8× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  5. Seed$3.8M2013-08-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.8× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 12 investors on this round.
  6. Seed$1.0M2013-08-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.6× smaller than the prior — bridge or down round.
    • 18 investors on this round.
  7. Seed$3.5M2013-08-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.4× larger than the prior — scaling up.
    • 12 investors on this round.
  8. Series B$4.8M2013-08-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× larger than the prior — scaling up.
    • 26 investors on this round.
  9. Series C$48.0M2014-09-19
    • Raised 13 mo later, in step with the ~13 mo sector norm.
    • Round 9.9× larger than the prior — scaling up.
    • 23 investors on this round.
Intelligence
2015 ~Q2
Modeled next raise · ~7mo cadence
$143.9M
Modeled next size est.range $93.5M$230.2M
9.9×
Last step-up
$16.9M/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
Ryan McMonagle4 other2010-01
Scott Crane3 other2010-01
Christopher Chang2 other2011-10
David Prokupek2 other2011-10
Greg Creighton2 other2011-10
Stephen Schiff1 other2011-10
Tom Hartman1 other2010-01
Christina Carlson2012-07
David Biedermen2013-08
Dennis Smythe2013-08
John M. Moore2013-08
Registry & provenance

Smashburger Master 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
1459982
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
Smashburger SFL JV LLCRestaurantsSeries A$6.0M$17.2Mnetwork3 shared operators · same sector
Smashburger MSP JV LLCRestaurantsSeries A$5.0M$14.3Mnetwork3 shared operators · same sector
Smashburger SLC & BOISE JV LLCRestaurantsSeries A$5.0M$14.3Mnetwork3 shared operators · same sector
Smashburger CHI JV LLCRestaurantsSeed$1.1M$4.0Mnetwork2 shared operators · same sector
BurgerFi International, Inc.RestaurantsSeries C$77.5M$268.8Msame sector · same stage
Cambridge Franchise Partners, LlcRestaurantsSeries C$75.3M$244.1Msame sector · same stage
Range NYC LLCRestaurantsSeries C$83.8M$193.0Msame sector · same stage
Levy Epic Acquisition Co II, LLCRestaurantsSeries C$88.3M$286.4Msame 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
Meta Burger, Inc.RestaurantsPre-Seed$409K89%
Smash Ventures, LLCRestaurantsPre-Seed$3.9M89%
Hamburger America 1, LLCRestaurantsSeed$3.4M89%
Stormburger Holdings, Inc.RestaurantsPre-Seed$2.3M87%
Hollywood Burger Holdings, Inc.RestaurantsSeries A$478K86%
Farm Burger Holdings, LLCRestaurantsSeries A$22.7M86%
Hyde Park Burgers, LLCRestaurantsSeries A$18.0M85%
RoboBurger Enterprises, Inc.RestaurantsSeed$5.9M85%
Frequently asked
How much funding has Smashburger Master LLC raised?
Smashburger Master LLC has raised approximately $79.4M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Smashburger Master LLC's estimated valuation?
Provath's modeled valuation for Smashburger Master LLC is approximately $155.5M (modeled range $155.7M–$409.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Smashburger Master LLC at?
Smashburger Master LLC's latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Sep 19.
What does Smashburger Master LLC do and where is it based?
Smashburger Master LLC operates in the Restaurants sector, based in DENVER.
Explore related

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