Companies · Other Health Care

Spesana Inc.

MEMPHIS · Other Health Care

Diligence memoA one-page analyst read on Spesana Inc. — recommendation, valuation, rhythm, risks.
$4.8M
Total raised · real
4
Rounds
1.0×
Latest step-up
Top 38%
Sector rank · raised
Seed
Latest stage · inferred · Thu Dec 07 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Spesana Inc. looks under-valued against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the health care 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 0.24× the median modeled value of Seed Other Health Care companies in 2022–2024 (244 peers) — value vs value, same stage and era.
At-risk
  • 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.
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 Other Health Care

Spesana Inc. is one of 5377 Other Health Care companies tracked from MEMPHIS. By capital raised it ranks mid-pack (ahead of 63% of sector peers), and in the long tail 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
3
Investors (latest)
2019
Year incorporated
2023-12-07
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$100MPre-Seed · 2020-07-15 Raised $1.0M (real) Modeled valuation $30M (est)$1.0M$30MPre-Seed2020Seed · 2021-05-14 Raised $3.0M (real) Modeled valuation $51M (est)$3.0M$51MSeed2021Seed · 2022-05-20 Raised $350K (real) Modeled valuation $3.9M (est)$350K$3.9MSeed2022Seed · 2023-12-07 Raised $500K (real) Modeled valuation $2.8M (est)$500K$2.8MSeed2023Pre-Seed · 2023-12-07 Raised $500K (real) Modeled valuation $2.8M (est)$500K$2.8MPre-Seed2023+$3.0M+$350K+$500K+$500KCumulative $5.3M

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 · 2020
Seed$3.0M · 2021
Seed extension$350K · 2022
Seed extension$500K · 2023
Bridge · Seed-stage$500K · 2023smaller 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
$2.8M
Base estimate est.
$423K
Conservative case
$8.8M
Upside case
$2.5M
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 health care sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $30.3M · 2020-07-152020Seed · modeled $50.8M · 2021-05-14Seed · modeled $3.9M · 2022-05-20Seed · modeled $2.8M · 2023-12-07Pre-Seed · modeled $2.8M · 2023-12-072023
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
38%
Survival probability
17% low · 58% high
1.54×/yr
Annual markup
2.01×/yr upside case
2.6 yr
Elapsed time used
2.6 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
10 mo
Avg between rounds
$1.4M/yr
Capital velocity
6.0 yr
On record since
2020
First round
5
Rounds on file
How it compares to the market

Benchmarked against 5377 companies in Other Health Care. 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) 2.0× above median
This company$4.8M
Sector median$2.4M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.3× of median
This company$500K
Sector median$1.7M
Modeled value — vs sector median (estimate, all stages) 0.1× of median
This company$2.8M
Sector median$22.1M

Raised more than 63% of sector peers (real $). Modeled value above 12% 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 #223 of 244.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0MCapital raised (log)Elmntri LLC · Seed Raised $4.0M · modeled $46.1M (est)Atreo, Inc. · Seed Raised $3.8M · modeled $42.1M (est)descendantsDNA, Inc. · Seed Raised $3.4M · modeled $40.8M (est)Westover Project Investor LLC · Seed Raised $4.0M · modeled $40.0M (est)Dentulu Inc · Seed Raised $6.4M · modeled $37.7M (est)Emmacare.com LLC · Seed Raised $3.0M · modeled $37.2M (est)IR-Med, Inc. · Seed Raised $5.4M · modeled $37.0M (est)SDH Parent 2 LLC · Seed Raised $3.0M · modeled $36.7M (est)TecTraum, Inc. · Seed Raised $7.8M · modeled $36.7M (est)DBN BCS II Investments, LLC · Seed Raised $3.0M · modeled $34.0M (est)USRC Baldwin Hills, LLC · Seed Raised $2.8M · modeled $34.0M (est)Flex Operating Room, Inc. · Seed Raised $6.2M · modeled $31.9M (est)Spesana Inc. (this company) Raised $4.8M · modeled $2.8M (est)Spesana Inc.
CompanyStageRaised · realValue · estvs peer med.
Elmntri LLCSeed$4.0M$46.1M3.83×
Atreo, Inc.Seed$3.8M$42.1M3.50×
descendantsDNA, Inc.Seed$3.4M$40.8M3.40×
Westover Project Investor LLCSeed$4.0M$40.0M3.33×
Dentulu IncSeed$6.4M$37.7M3.13×
Emmacare.com LLCSeed$3.0M$37.2M3.10×
IR-Med, Inc.Seed$5.4M$37.0M3.08×
SDH Parent 2 LLCSeed$3.0M$36.7M3.05×
TecTraum, Inc.Seed$7.8M$36.7M3.05×
DBN BCS II Investments, LLCSeed$3.0M$34.0M2.83×
USRC Baldwin Hills, LLCSeed$2.8M$34.0M2.82×
Flex Operating Room, Inc.Seed$6.2M$31.9M2.65×
Spesana Inc. this companySeed$4.8M$2.8M0.24×
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$1.0M2020-07-15$5.6M$30.3M90%
Seed$3.0M2021-05-14$14.9M$50.8M90%
Seed$350K2022-05-20$1.8M$3.9M90%
Seed$500K2023-12-07$2.5M$2.8M90%
Pre-Seed$500K2023-12-07$2.8M$2.8M90%
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$1.0M2020-07-15
    • First recorded raise — entered as Pre-Seed.
    • 5 investors on this round.
  2. Seed$3.0M2021-05-14
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 3.0× larger than the prior — scaling up.
    • 11 investors on this round.
  3. Seed$350K2022-05-20
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round 8.5× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  4. Seed$500K2023-12-07
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 3 investors on this round.
  5. Pre-Seed$500K2023-12-07
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~10mo cadence
$500K
Modeled next size est.range $500K$800K
1.0×
Last step-up
$1.4M/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 Jones4 other2021-05
Carla Balch1 other2020-07
Matthew Dicken1 other2023-12
Todd Hembrough1 other2020-07
John Verniero2022-05
Robert Merold2021-05
Russ Clark2020-07
Todd Hembrough, Ph.D2021-05
William Pretsch, Jr.2021-05
Registry & provenance

Spesana 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
1819218
SEC CIK
2019
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
Nexosome Oncology Holdings, Inc.PharmaSeed$3.7M$69.0Mnetwork2 shared operators · same stage
Physcient, Inc.Other Health CareSeed$4.9M$3.3Msame sector · same stage
Toetal Solutions, Inc.Other Health CareSeed$4.7M$3.5Msame sector · same stage
Rediscovery Life Sciences AKI LLCOther Health CareSeed$5.0M$3.4Msame sector · same stage
Nivati, Inc.Other Health CareSeed$4.5M$2.4Msame sector · same stage
Medpod Inc.Other Health CareSeed$4.4M$3.0Msame sector · same stage
Baton Rouge Urological Services, LlcOther Health CareSeed$5.4M$3.2Msame sector · same stage
Vesiflo, Inc.Other Health CareSeed$5.4M$3.1Msame 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
Spirair, Inc.Other Health CareSeries B$116.5M88%
Sebacia, Inc.Other Health CareSeries B$221.5M87%
Medaica Inc.Other Health CarePre-Seed$1.5M87%
Barologics, Inc.Other Health CareSeries A$136.9M84%
Carena IncOther Health CareSeries A$121.1M84%
MedArrive Inc.Other Health CareSeries B$76.7M83%
Saranas Inc.Other Health CareSeries B$249.8M83%
Akeyna Inc.Other Health CarePre-Seed$773K83%
Frequently asked
How much funding has Spesana Inc. raised?
Spesana Inc. has raised approximately $4.8M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Spesana Inc.'s estimated valuation?
Provath's modeled valuation for Spesana Inc. is approximately $2.8M (modeled range $423K–$8.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Spesana Inc. at?
Spesana Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Thu Dec 07.
What does Spesana Inc. do and where is it based?
Spesana Inc. operates in the Other Health Care sector, based in MEMPHIS.
Explore related

See where Spesana 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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