Companies · Other Technology

Sphere 3D Corp.

GREENWICH · Other Technology

Diligence memoA one-page analyst read on Sphere 3D Corp. — recommendation, valuation, rhythm, risks.
$8.5M
Total raised · real
4
Rounds
0.5×
Latest step-up
Top 31%
Sector rank · raised
Series A
Latest stage · inferred · Mon Apr 17 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Sphere 3D Corp. 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 technology 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 0.18× the median modeled value of Series A Other Technology companies in 2022–2024 (1325 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.2 yr ago; this sector typically re-raises about every 13 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 Technology

Sphere 3D Corp. is one of 21292 Other Technology companies tracked from GREENWICH. By capital raised it ranks in the upper tier (ahead of 70% 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
1
Investors (latest)
2023-04-17
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 · 2013-11-12 Raised $320K (real) Modeled valuation $14M (est)$320K$14MPre-Seed2013Series A · 2015-05-19 Raised $5.2M (real) Modeled valuation $144M (est)$5.2M$144MSeries A2015Series A · 2015-08-13 Raised $2.0M (real) Modeled valuation $55M (est)$2.0M$55MSeries A2015Series A · 2023-04-17 Raised $1.0M (real) Modeled valuation $9.0M (est)$1.0M$9.0MSeries A2023+$5.2M+$2.0M+$1.0MCumulative $8.5M

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$320K · 2013
Series A$5.2M · 2015no Seed on file
Series A extension$2.0M · 2015
Series A extension$1.0M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$9.0M
Base estimate est.
$1.3M
Conservative case
$25.6M
Upside case
$4.5M
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 technology sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $13.5M · 2013-11-122013Series A · modeled $143.9M · 2015-05-19Series A · modeled $55.5M · 2015-08-13Series A · modeled $9.0M · 2023-04-172023
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
29% low · 74% high
1.50×/yr
Annual markup
1.89×/yr upside case
3.2 yr
Elapsed time used
3.2 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
38 mo
Avg between rounds
$903K/yr
Capital velocity
12.6 yr
On record since
2013
First round
4
Rounds on file
How it compares to the market

Benchmarked against 21292 companies in Other Technology. 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) 2.7× above median
This company$8.5M
Sector median$3.2M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.2× of median
This company$1.0M
Sector median$5.8M
Modeled value — vs sector median (estimate, all stages) 0.2× of median
This company$9.0M
Sector median$37.3M

Raised more than 70% of sector peers (real $). Modeled value above 22% 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 #1216 of 1,325.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Phylum, Inc. · Series A Raised $15.0M · modeled $222.2M (est)Keon Foundation Ltd. · Series A Raised $15.0M · modeled $211.9M (est)Remoteam Inc. · Series A Raised $14.3M · modeled $209.5M (est)MultiSafe, Inc. · Series A Raised $17.3M · modeled $208.6M (est)Careerian Inc. · Series A Raised $20.3M · modeled $203.8M (est)Continu Inc. · Series A Raised $13.5M · modeled $202.4M (est)Devron Corp · Series A Raised $16.8M · modeled $201.5M (est)RISC Zero, Inc. · Series A Raised $14.4M · modeled $199.5M (est)Pentagon Port LLC · Series A Raised $15.0M · modeled $198.7M (est)Amnic Inc. · Series A Raised $14.0M · modeled $198.2M (est)Intensivate Inc · Series A Raised $14.7M · modeled $190.3M (est)Ws Holdco, Pbc · Series A Raised $14.8M · modeled $188.2M (est)Sphere 3D Corp. (this company) Raised $8.5M · modeled $9.0M (est)Sphere 3D Corp.
CompanyStageRaised · realValue · estvs peer med.
Phylum, Inc.Series A$15.0M$222.2M4.42×
Keon Foundation Ltd.Series A$15.0M$211.9M4.22×
Remoteam Inc.Series A$14.3M$209.5M4.17×
MultiSafe, Inc.Series A$17.3M$208.6M4.15×
Careerian Inc.Series A$20.3M$203.8M4.06×
Continu Inc.Series A$13.5M$202.4M4.03×
Devron CorpSeries A$16.8M$201.5M4.01×
RISC Zero, Inc.Series A$14.4M$199.5M3.97×
Pentagon Port LLCSeries A$15.0M$198.7M3.96×
Amnic Inc.Series A$14.0M$198.2M3.95×
Intensivate IncSeries A$14.7M$190.3M3.79×
Ws Holdco, PbcSeries A$14.8M$188.2M3.75×
Sphere 3D Corp. this companySeries A$8.5M$9.0M0.18×
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$320K2013-11-12$1.8M$13.5M85%
Series A$5.2M2015-05-19$23.6M$143.9M85%
Series A$2.0M2015-08-13$9.1M$55.5M85%
Series A$1.0M2023-04-17$4.5M$9.0M90%
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$320K2013-11-12
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Series A$5.2M2015-05-19
    • Raised 18 mo later, in step with the ~13 mo sector norm.
    • Round 16.2× larger than the prior — scaling up.
    • 7 investors on this round.
  3. Series A$2.0M2015-08-13
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round 2.6× smaller than the prior — bridge or down round.
    • Revenue band moved $5M–$25M → $1M–$5M.
    • 1 investor on this round.
  4. Series A$1.0M2023-04-17
    • Raised again after 92 mo — slower than the ~13 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~38mo cadence
$1.0M
Modeled next size est.range $1.0M$1.6M
0.5×
Last step-up
$903K/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
David Danziger2 other2023-04
Eric L. Kelly1 other2015-05
Glenn M. Bowman1 other2013-11
Jason Meretsky1 other2013-11
John Morelli1 other2013-11
Kurt L. Kalbfleisch1 other2015-08
Peter Ashkin1 other2013-11
Daniel L. Bordessa2015-08
Duncan S. McEwan2023-04
Eric Kelly2013-11
Glenn L. Bowman2015-08
Joseph L. O'Daniel2023-04
Mahadevan S. Vivekanand2023-04
Mario Biasini2013-11
Mario L. Biasini2015-08
Patricia S. Trompeter2023-04
Peter L. Ashkin2015-08
Peter L. Tassiopoulos2015-08
Peter Tassiopoulos2013-11
Randy L. Gast2015-08
Scott Worthington2013-11
Susan S. Harnett2023-04
Timothy Hanley2023-04
Vivekanand L. Mahadevan2015-08
Registry & provenance

Sphere 3D Corp. 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
1591956
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
Overland Storage IncOther TechnologySeries B$51.1M$676.9Mnetwork2 shared operators · same sector
Kanarys, Inc.Other TechnologySeries A$8.0M$8.7Msame sector · same stage
Sh1ft Inc.Other TechnologySeries A$9.1M$8.6Msame sector · same stage
GENIUS.COM IncOther TechnologySeries A$6.8M$9.1Msame sector · same stage
Adgorithmics, Inc.Other TechnologySeries A$10.7M$8.7Msame sector · same stage
Vebu, Inc.Other TechnologySeries A$11.7M$9.4Msame sector · same stage
Ceres Tag LtdOther TechnologySeries A$11.9M$9.3Msame sector · same stage
Eco Scraps, Inc.Other TechnologySeries A$12.1M$8.7Msame 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
Sphere Newco, Inc.Other TechnologyPre-Seed$968K90%
3D Hubs, Inc.Other TechnologySeries B$537.2M89%
Sphere Technology Holdings, Inc.Software / TechSeries A$115.0M87%
Chromatic 3D Materials Inc.Other TechnologySeries A$687K87%
Photon3D LtdOther TechnologySeries A$139.8M86%
3D ProMed, LLCOther TechnologyPre-Seed$19.1M86%
Elementum 3D, Inc.Other TechnologySeries A$920K86%
3D Agility LLCOther TechnologyPre-Seed$2.1M85%
Frequently asked
How much funding has Sphere 3D Corp. raised?
Sphere 3D Corp. has raised approximately $8.5M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Sphere 3D Corp.'s estimated valuation?
Provath's modeled valuation for Sphere 3D Corp. is approximately $9.0M (modeled range $1.3M–$25.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Sphere 3D Corp. at?
Sphere 3D Corp.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Mon Apr 17.
What does Sphere 3D Corp. do and where is it based?
Sphere 3D Corp. operates in the Other Technology sector, based in GREENWICH.
Explore related

See where Sphere 3D Corp. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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