Diligence memo · auto-generated · as of July 3, 2026
Smith Health, Inc.
Smith Health, Inc. looks fair against its niche peers and is at-risk on financing cadence.
Businessfiled
Smith Health, Inc. operates in Healthtech, based in SAN FRANCISCO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Smith Health, Inc. has raised $87M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $60M on 2023-11-15.
Most recent recorded round closed around 2023-11-15.
Valuation (modeled)modeled
Provath models Smith Health, Inc. at approximately $605M (range $218M–$1.0B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.25× the median modeled value of Series C Healthtech companies in 2022–2024 (39 peers) — value vs value, same stage and era. Within the normal band (125% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 21 months.
Last raise 2.6 yr ago; this sector typically re-raises about every 14 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 2.2× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 95% of Healthtech peers (2138 compared).
Modeled value ranks above 94% of those peers.
Closest niche peers: Freedom Dental Funding, LLC, Elevate Care International Topco LP, Athelas Inc., Hazel Health, Inc., Health Gorilla, Inc..
Peoplefiled
4 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.