Companies · Healthtech

Spencer Health Solutions, Inc.

MORRISVILLE · Healthtech · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Spencer Health Solutions, Inc. — recommendation, valuation, rhythm, risks.
$38.7M
Total raised · real
6
Rounds
0.5×
Latest step-up
Top 13%
Sector rank · raised
Series A
Latest stage · inferred · Thu Oct 10 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Spencer Health Solutions, Inc. looks under-valued against its niche peers and is quiet 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 0.55× the median modeled value of Series A Healthtech companies in 2022–2024 (190 peers) — value vs value, same stage and era.
Quiet
  • Last raise 21 mo ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector 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

Spencer Health Solutions, Inc. is one of 2138 Healthtech companies tracked from MORRISVILLE. By capital raised it ranks in the upper tier (ahead of 88% of sector peers), and mid-pack 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)
2024-10-10
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 · 2017-09-08 Raised $700K (real) Modeled valuation $24M (est)Pre-Seed2017Pre-Seed · 2017-09-08 Raised $700K (real) Modeled valuation $24M (est)Pre-Seed2017Seed · 2021-04-05 Raised $1.8M (real) Modeled valuation $36M (est)Seed2021Series A · 2021-12-17 Raised $15M (real) Modeled valuation $195M (est)Series A2021Series A · 2023-04-28 Raised $6.0M (real) Modeled valuation $47M (est)Series A2023Series A · 2023-08-25 Raised $10M (real) Modeled valuation $69M (est)Series A2023Series A · 2024-10-10 Raised $5.1M (real) Modeled valuation $23M (est)Series A2024+$700K+$1.8M+$15M+$6.0M+$10M+$5.1MCumulative $39M

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$700K · 2017
Pre-Seed extension$700K · 2017
Seed$1.8M · 2021
Series A$15.0M · 2021
Series A extension$6.0M · 2023
Series A extension$10.0M · 2023
Series A extension$5.1M · 2024

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

Modeled valuation trajectory
$23.1M
Base estimate est.
$6.6M
Conservative case
$47.0M
Upside case
$23.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the healthtech sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $24.1M · 2017-09-082017Pre-Seed · modeled $24.1M · 2017-09-08Seed · modeled $36.2M · 2021-04-05Series A · modeled $195.2M · 2021-12-17Series A · modeled $46.7M · 2023-04-28Series A · modeled $68.9M · 2023-08-25Series A · modeled $23.1M · 2024-10-102024
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.46×/yr
Annual markup
1.84×/yr upside case
1.7 yr
Elapsed time used
1.7 yr actual, capped for stale marks
healthtech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$5.5M/yr
Capital velocity
8.8 yr
On record since
2017
First round
7
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) 8.7× above median
This company$38.7M
Sector median$4.5M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.9× of median
This company$5.1M
Sector median$5.5M
Modeled value — vs sector median (estimate, all stages) 0.7× of median
This company$23.1M
Sector median$33.8M

Raised more than 88% of sector peers (real $). Modeled value above 47% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #149 of 190.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Nayya Health, Inc. · Series A Raised $15.0M · modeled $183.1M (est)Nue Life Health Inc. · Series A Raised $18.6M · modeled $182.9M (est)W Health Studio, Inc. · Series A Raised $13.0M · modeled $157.6M (est)Avant-garde Health, Inc. · Series A Raised $16.5M · modeled $155.7M (est)Kinetik Healthcare Solutions, Inc · Series A Raised $19.5M · modeled $138.0M (est)Acclivity Health Solutions, Inc. · Series A Raised $21.4M · modeled $135.1M (est)Midi Health, Inc. · Series A Raised $13.9M · modeled $133.3M (est)Orbi Health, Inc. · Series A Raised $10.7M · modeled $120.0M (est)Levels Health Inc. · Series A Raised $34.0M · modeled $119.5M (est)Phoenix Animal Wellness, Inc. · Series A Raised $15.0M · modeled $115.5M (est)Leda Health Corp · Series A Raised $9.4M · modeled $112.1M (est)Juno Care Systems, Inc. · Series A Raised $10.7M · modeled $111.7M (est)Spencer Health Solutions, Inc. (this company) Raised $38.7M · modeled $23.1M (est)Spencer Health Solutions, Inc.
CompanyStageRaised · realValue · estvs peer med.
Nayya Health, Inc.Series A$15.0M$183.1M4.39×
Nue Life Health Inc.Series A$18.6M$182.9M4.38×
W Health Studio, Inc.Series A$13.0M$157.6M3.77×
Avant-garde Health, Inc.Series A$16.5M$155.7M3.73×
Kinetik Healthcare Solutions, IncSeries A$19.5M$138.0M3.31×
Acclivity Health Solutions, Inc.Series A$21.4M$135.1M3.24×
Midi Health, Inc.Series A$13.9M$133.3M3.19×
Orbi Health, Inc.Series A$10.7M$120.0M2.87×
Levels Health Inc.Series A$34.0M$119.5M2.86×
Phoenix Animal Wellness, Inc.Series A$15.0M$115.5M2.77×
Leda Health CorpSeries A$9.4M$112.1M2.68×
Juno Care Systems, Inc.Series A$10.7M$111.7M2.68×
Spencer Health Solutions, Inc. this companySeries A$38.7M$23.1M0.55×
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$700K2017-09-08$3.9M$24.1M90%
Pre-Seed$700K2017-09-08$3.9M$24.1M90%
Seed$1.8M2021-04-05$9.2M$36.2M90%
Series A$15.0M2021-12-17$68.2M$195.2M90%
Series A$6.0M2023-04-28$27.3M$46.7M90%
Series A$10.0M2023-08-25$45.5M$68.9M90%
Series A$5.1M2024-10-10$23.4M$23.1M90%
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$700K2017-09-08
    • First recorded raise — entered as Pre-Seed.
    • 7 investors on this round.
  2. Pre-Seed$700K2017-09-08
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 7 investors on this round.
  3. Seed$1.8M2021-04-05
    • Raised again after 43 mo — slower than the ~14 mo sector norm.
    • Round 2.6× larger than the prior — scaling up.
    • 6 investors on this round.
  4. Series A$15.0M2021-12-17
    • Raised 8 mo later, in step with the ~14 mo sector norm.
    • Round 8.2× larger than the prior — scaling up.
    • 9 investors on this round.
  5. Series A$6.0M2023-04-28
    • Raised 16 mo later, in step with the ~14 mo sector norm.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  6. Series A$10.0M2023-08-25
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 1.7× larger than the prior — scaling up.
    • 6 investors on this round.
  7. Series A$5.1M2024-10-10
    • Raised 14 mo later, in step with the ~14 mo sector norm.
    • Round 1.9× smaller than the prior — bridge or down round.
    • 6 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~14mo cadence
$5.1M
Modeled next size est.range $5.1M$8.2M
0.5×
Last step-up
$5.5M/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
Christopher P. Martin1 other2021-04
Edwin P. Scheetz2021-04
Gregg P. Goldenberg2021-04
Mark P. Gilreath2017-09
Paul P. Cunningham2021-04
Thomas P. Rhoads, Jr.2017-09
Registry & provenance

Spencer Health Solutions, 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
1716888
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
Oxos Medical, Inc.HealthtechSeries A$34.7M$31.0Msame sector · same stage
Rhino HealthTech, Inc.HealthtechSeries A$44.7M$31.6Msame sector · same stage
Atraverse Medical, Inc.HealthtechSeries A$33.1M$31.8Msame sector · same stage
Huxley Medical, Inc.HealthtechSeries A$32.7M$29.7Msame sector · same stage
Health Advocates Network Holdings Corp.HealthtechSeries A$29.6M$23.4Msame sector · same stage
Early Bird Medical, Inc.HealthtechSeries A$26.6M$21.9Msame sector · same stage
Odyssey Wellness LLCHealthtechSeries A$25.0M$14.5Msame sector · same stage
Peerbridge Health, Inc.HealthtechSeries A$60.4M$26.0Msame 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
Better Health Technologies Inc.HealthtechSeries A$211.9M86%
HealthTech Solutions, Inc.HealthtechPre-Seed$34.5M86%
Redivus Health, Inc.HealthtechSeries A$1.6M85%
Health Recovery Solutions, Inc.HealthtechSeries B$505.9M85%
Brightside Health, Inc.HealthtechSeries C$800.8M84%
Healthcare, Inc.HealthtechSeries D+$4.0B84%
Healthe, Inc.HealthtechSeries B$465.2M84%
Health Care Solutions Inc.HealthtechSeed$26.8M84%
Frequently asked
How much funding has Spencer Health Solutions, Inc. raised?
Spencer Health Solutions, Inc. has raised approximately $38.7M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Spencer Health Solutions, Inc.'s estimated valuation?
Provath's modeled valuation for Spencer Health Solutions, Inc. is approximately $23.1M (modeled range $6.6M–$47.0M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Spencer Health Solutions, Inc. at?
Spencer Health Solutions, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Thu Oct 10.
What does Spencer Health Solutions, Inc. do and where is it based?
Spencer Health Solutions, Inc. operates in the Healthtech sector, based in MORRISVILLE.
Explore related

See where Spencer Health Solutions, 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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