Companies · Environmental Services

Spark Change Group Inc.

Seattle · Environmental Services

Diligence memoA one-page analyst read on Spark Change Group Inc. — recommendation, valuation, rhythm, risks.
$6.6M
Total raised · real
2
Rounds
0.8×
Latest step-up
Top 30%
Sector rank · raised
Seed
Latest stage · inferred · Fri Feb 26 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Spark Change Group Inc. looks over-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 climate/enviro sector profile.

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

Over-valued
  • Modeled value is 2.45× the median modeled value of Seed Environmental Services companies in 2019–2021 (10 peers) — value vs value, same stage and era.
Dormant
  • Last raise 5.3 yr ago; this sector typically re-raises about every 11 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 Environmental Services

Spark Change Group Inc. is one of 242 Environmental Services companies tracked from Seattle. By capital raised it ranks in the upper tier (ahead of 71% 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
7
Investors (latest)
2018
Year incorporated
2021-02-26
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$25M$50M$75M$100MSeed · 2020-02-05 Raised $3.6M (real) Modeled valuation $99M (est)$3.6M$99MSeed2020Seed · 2021-02-26 Raised $3.0M (real) Modeled valuation $61M (est)$3.0M$61MSeed2021+$3.0MCumulative $6.6M

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
Seed$3.6M · 2020
Seed extension$3.0M · 2021

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$60.7M
Base estimate est.
$2.5M
Conservative case
$398.7M
Upside case
$15.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Seed · modeled $98.8M · 2020-02-052020Seed · modeled $60.7M · 2021-02-262021
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
37%
Survival probability
17% low · 57% high
1.57×/yr
Annual markup
2.05×/yr upside case
5.3 yr
Elapsed time used
5.3 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
13 mo
Avg between rounds
$6.3M/yr
Capital velocity
6.4 yr
On record since
2020
First round
2
Rounds on file
How it compares to the market

Benchmarked against 242 companies in Environmental Services. 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) 2.9× above median
This company$6.6M
Sector median$2.3M
Latest round — vs other Seed rounds in sector (real $, this stage) 2.0× above median
This company$3.0M
Sector median$1.5M
Modeled value — vs sector median (estimate, all stages) 2.4× above median
This company$60.7M
Sector median$25.3M

Raised more than 71% of sector peers (real $). Modeled value above 71% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) 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 #3 of 10.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$1.0M$10.0MCapital raised (log)Evergreen Environmental Partners, LLC · Seed Raised $3.2M · modeled $82.6M (est)Perma Fix Environmental Services Inc · Seed Raised $7.8M · modeled $67.8M (est)Ubuntoo, Inc. · Seed Raised $3.3M · modeled $58.7M (est)High Desert H2O, LLC · Seed Raised $1.2M · modeled $31.7M (est)Civil & Environmental Consultants, Inc. · Seed Raised $2.6M · modeled $17.8M (est)MPH Energy Midco LP · Seed Raised $7.0M · modeled $16.7M (est)Carden, LLC · Seed Raised $4.8M · modeled $16.6M (est)Accordant Energy, LLC · Seed Raised $7.0M · modeled $8.6M (est)Deep Green Waste & Recycling, Inc. · Seed Raised $1.6M · modeled $3.0M (est)Spark Change Group Inc. (this company) Raised $6.6M · modeled $60.7M (est)Spark Change Group Inc.
CompanyStageRaised · realValue · estvs peer med.
Evergreen Environmental Partners, LLCSeed$3.2M$82.6M3.34×
Perma Fix Environmental Services IncSeed$7.8M$67.8M2.74×
Spark Change Group Inc. this companySeed$6.6M$60.7M2.45×
Ubuntoo, Inc.Seed$3.3M$58.7M2.37×
High Desert H2O, LLCSeed$1.2M$31.7M1.28×
Civil & Environmental Consultants, Inc.Seed$2.6M$17.8M0.72×
MPH Energy Midco LPSeed$7.0M$16.7M0.68×
Carden, LLCSeed$4.8M$16.6M0.67×
Accordant Energy, LLCSeed$7.0M$8.6M0.35×
Deep Green Waste & Recycling, Inc.Seed$1.6M$3.0M0.12×
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.
Seed$3.6M2020-02-05$18.2M$98.8M90%
Seed$3.0M2021-02-26$15.0M$60.7M90%
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. Seed$3.6M2020-02-05
    • First recorded raise — entered as Seed.
    • 13 investors on this round.
  2. Seed$3.0M2021-02-26
    • Raised 13 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 7 investors on this round.
Intelligence
2022 ~Q1
Modeled next raise · ~13mo cadence
$3.0M
Modeled next size est.range $3.0M$4.8M
0.8×
Last step-up
$6.3M/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
Dan Barry2020-02
Joff Hamilton-Dick2020-02
Steffen Buschbacher2020-02
Registry & provenance

Spark Change Group 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
1773108
SEC CIK
2018
Incorporated
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
Ridgeline Energy Services Inc.Environmental ServicesSeed$6.6M$24.0Msame sector · same stage
MPH Energy Midco LPEnvironmental ServicesSeed$7.0M$16.7Msame sector · same stage
Accordant Energy, LLCEnvironmental ServicesSeed$7.0M$8.6Msame sector · same stage
GroGuru, Inc.Environmental ServicesSeed$7.7M$16.1Msame sector · same stage
Perma Fix Environmental Services IncEnvironmental ServicesSeed$7.8M$67.8Msame sector · same stage
Waste2Energy Holdings, Inc.Environmental ServicesSeed$8.4M$6.3Msame sector · same stage
Earth911, Inc.Environmental ServicesSeed$5.2M$11.3Msame sector · same stage
Langan Management Aggregator LLCEnvironmental ServicesSeed$5.1M$658Ksame 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
Streamline Innovations Holdings, Inc.Environmental ServicesSeries C$707.4M82%
Streamline Innovations, Inc.Environmental ServicesSeries C$1.9B82%
Evergreen Environmental Partners, LLCEnvironmental ServicesSeed$82.6M80%
Energy Water Solutions, LLCEnvironmental ServicesSeed$8.6M80%
Swirltex Holdings Corp.Environmental ServicesSeed$9.3M79%
Spark Community Investment CoOther EnergySeries B$99.3M79%
PowerGrow LLCEnvironmental ServicesPre-Seed$13.0M78%
Spark Thermionics, Inc.Electric UtilitiesPre-Seed$7.7M78%
Frequently asked
How much funding has Spark Change Group Inc. raised?
Spark Change Group Inc. has raised approximately $6.6M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Spark Change Group Inc.'s estimated valuation?
Provath's modeled valuation for Spark Change Group Inc. is approximately $60.7M (modeled range $2.5M–$398.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Spark Change Group Inc. at?
Spark Change Group Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Fri Feb 26.
What does Spark Change Group Inc. do and where is it based?
Spark Change Group Inc. operates in the Environmental Services sector, based in Seattle.
Explore related

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