Diligence memo · auto-generated · as of July 2, 2026
Spring Waco, LP
Spring Waco, LP looks under-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Spring Waco, LP operates in Lodging and Conventions, based in WESTLAKE.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Spring Waco, LP has raised $775K in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Pre-Seed (a round under $1.0M).
Largest single filing: $600K on 2013-05-10.
Most recent recorded round closed around 2020-08-07.
Valuation (modeled)modeled
Provath models Spring Waco, LP at approximately $1.2M (range $103K–$13M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.49× the median modeled value of Pre-Seed Lodging and Conventions companies in 2019–2021 (23 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 87 months.
Last raise 5.9 yr ago; this sector typically re-raises about every 12 months.
Silent for over 3× the sector's normal cadence.
The last round was 3.4× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 16% of Lodging and Conventions peers (514 compared).
Modeled value ranks above 6% of those peers.
Closest niche peers: MxLuxe A1 LLC, Hg-Hw2 Okc, Lp, Gorge Capital Llc, Hotel Carbon HQ, Inc., Crash Pad, Inc..
Peoplefiled
6 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.