Companies · Pharmaceuticals

Sprout2 Inc.

Raleigh · Pharmaceuticals

Diligence memoA one-page analyst read on Sprout2 Inc. — recommendation, valuation, rhythm, risks.
$66.0M
Total raised · real
5
Rounds
1.5×
Latest step-up
Top 16%
Sector rank · raised
Series B
Latest stage · inferred · Tue Dec 10 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Sprout2 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 pharma 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 0.48× the median modeled value of Series B Pharmaceuticals companies in 2022–2024 (51 peers) — value vs value, same stage and era.
Quiet
  • Last raise 19 mo ago; this sector typically re-raises about every 13 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 Pharmaceuticals

Sprout2 Inc. is one of 1610 Pharmaceuticals companies tracked from Raleigh. By capital raised it ranks in the upper tier (ahead of 85% 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
51
Investors (latest)
2024-12-10
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$250M$500M$750M$1.0BSeries A · 2017-12-20 Raised $4.5M (real) Modeled valuation $139M (est)Series A2017Series B · 2019-08-02 Raised $16M (real) Modeled valuation $541M (est)Series B2019Series B · 2020-11-25 Raised $28M (real) Modeled valuation $811M (est)Series B2020Series A · 2020-11-25 Raised $8.1M (real) Modeled valuation $210M (est)Series A2020Series B · 2020-11-25 Raised $25M (real) Modeled valuation $727M (est)Series B2020Series A · 2020-11-25 Raised $12M (real) Modeled valuation $320M (est)Series A2020Series B · 2023-03-31 Raised $7.1M (real) Modeled valuation $81M (est)Series B2023Series B · 2024-12-10 Raised $11M (real) Modeled valuation $62M (est)Series B2024+$16M+$28M+$8.1M+$25M+$12M+$7.1M+$11MCumulative $112M

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
Series A$4.5M · 2017
Series B$15.9M · 2019
Series B extension$28.0M · 2020
Bridge · Series B-stage$8.1M · 2020smaller follow-on
Series B extension$25.1M · 2020
Bridge · Series B-stage$12.4M · 2020smaller follow-on
Series B extension$7.1M · 2023
Series B extension$10.6M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, 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
$62.0M
Base estimate est.
$22.2M
Conservative case
$101.8M
Upside case
$58.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Series A · modeled $139.4M · 2017-12-202017Series B · modeled $540.7M · 2019-08-02Series B · modeled $810.7M · 2020-11-25Series A · modeled $210.0M · 2020-11-25Series B · modeled $726.7M · 2020-11-25Series A · modeled $320.3M · 2020-11-25Series B · modeled $81.1M · 2023-03-31Series B · modeled $62.0M · 2024-12-102024
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
57%
Survival probability
38% low · 70% high
1.49×/yr
Annual markup
1.80×/yr upside case
1.6 yr
Elapsed time used
1.6 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$9.5M/yr
Capital velocity
8.5 yr
On record since
2017
First round
8
Rounds on file
How it compares to the market

Benchmarked against 1610 companies in Pharmaceuticals. 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) 8.1× above median
This company$66.0M
Sector median$8.1M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.6× of median
This company$10.6M
Sector median$18.0M
Modeled value — vs sector median (estimate, all stages) 0.8× of median
This company$62.0M
Sector median$76.1M

Raised more than 85% 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 B) 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 #38 of 51.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)MedAvail Holdings, Inc. · Series B Raised $52.9M · modeled $678.6M (est)Revalesio Corp · Series B Raised $103.4M · modeled $624.1M (est)Kinaset Therapeutics, Inc. · Series B Raised $30.0M · modeled $437.7M (est)Venatorx Pharmaceuticals, Inc. · Series B Raised $124.3M · modeled $420.5M (est)Cxl Ophthalmics, Inc. · Series B Raised $26.4M · modeled $369.7M (est)Delex Healthcare Group, Inc. · Series B Raised $40.0M · modeled $340.8M (est)Comanche Biopharma Corp. · Series B Raised $73.6M · modeled $325.6M (est)Petros Pharmaceuticals, Inc. · Series B Raised $41.7M · modeled $307.7M (est)I 3 Pharmaceuticals, LLC · Series B Raised $16.0M · modeled $262.2M (est)Relay Therapeutics, Inc. · Series B Raised $30.0M · modeled $253.0M (est)Capacity Bio, Inc. · Series B Raised $19.2M · modeled $245.7M (est)MediWound Ltd. · Series B Raised $30.5M · modeled $243.1M (est)Sprout2 Inc. (this company) Raised $66.0M · modeled $62.0M (est)Sprout2 Inc.
CompanyStageRaised · realValue · estvs peer med.
MedAvail Holdings, Inc.Series B$52.9M$678.6M5.23×
Revalesio CorpSeries B$103.4M$624.1M4.81×
Kinaset Therapeutics, Inc.Series B$30.0M$437.7M3.37×
Venatorx Pharmaceuticals, Inc.Series B$124.3M$420.5M3.24×
Cxl Ophthalmics, Inc.Series B$26.4M$369.7M2.85×
Delex Healthcare Group, Inc.Series B$40.0M$340.8M2.63×
Comanche Biopharma Corp.Series B$73.6M$325.6M2.51×
Petros Pharmaceuticals, Inc.Series B$41.7M$307.7M2.37×
I 3 Pharmaceuticals, LLCSeries B$16.0M$262.2M2.02×
Relay Therapeutics, Inc.Series B$30.0M$253.0M1.95×
Capacity Bio, Inc.Series B$19.2M$245.7M1.89×
MediWound Ltd.Series B$30.5M$243.1M1.87×
Sprout2 Inc. this companySeries B$66.0M$62.0M0.48×
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.
Series A$4.5M2017-12-20$20.5M$139.4M90%
Series B$15.9M2019-08-02$88.3M$540.7M90%
Series B$28.0M2020-11-25$155.4M$810.7M90%
Series A$8.1M2020-11-25$36.9M$210.0M90%
Series B$25.1M2020-11-25$139.3M$726.7M90%
Series A$12.4M2020-11-25$56.3M$320.3M90%
Series B$7.1M2023-03-31$39.2M$81.1M90%
Series B$10.6M2024-12-10$58.7M$62.0M90%
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. Series A$4.5M2017-12-20
    • First recorded raise — entered as Series A.
    • 203 investors on this round.
  2. Series B$15.9M2019-08-02
    • Raised again after 19 mo — slower than the ~13 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
    • 110 investors on this round.
  3. Series B$28.0M2020-11-25
    • Raised 16 mo later, in step with the ~13 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • 91 investors on this round.
  4. Series A$8.1M2020-11-25
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.4× smaller than the prior — bridge or down round.
    • 59 investors on this round.
  5. Series B$25.1M2020-11-25
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.1× larger than the prior — scaling up.
    • 85 investors on this round.
  6. Series A$12.4M2020-11-25
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 64 investors on this round.
  7. Series B$7.1M2023-03-31
    • Raised again after 28 mo — slower than the ~13 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
    • 43 investors on this round.
  8. Series B$10.6M2024-12-10
    • Raised again after 20 mo — slower than the ~13 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 51 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~12mo cadence
$15.8M
Modeled next size est.range $10.6M$25.2M
1.5×
Last step-up
$9.5M/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
Adele Oliva8 other2017-12
W. Robert Dahl5 other2019-08
Robert Whitehead4 other2017-12
Robert Dahl3 other2017-12
Cynthia Whitehead1 other2017-12
Adele Robert Oliva2019-08
Cynthia Eckert2019-08
Eric Atkins2017-12
Gail Robert Becker2020-11
Margaret Henry2024-12
Matthew Robert Petzold2020-11
Robert Robert Whitehead2020-11
Sandra Robert McGlothlin2020-11
Registry & provenance

Sprout2 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
1725755
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
Sprout Pharmaceuticals, Inc.PharmaceuticalsSeries C$111.7M$1.8Bnetwork2 shared operators · same sector
STAQ Pharma, Inc.PharmaceuticalsSeries B$64.9M$74.3Msame sector · same stage
Pulmatrix, Inc.PharmaceuticalsSeries B$62.9M$86.1Msame sector · same stage
Synchronicity Pharma, Inc.PharmaceuticalsSeries B$62.7M$29.7Msame sector · same stage
Igenica IncPharmaceuticalsSeries B$70.0M$76.5Msame sector · same stage
Nocion Therapeutics, Inc.PharmaceuticalsSeries B$76.1M$90.4Msame sector · same stage
Aridis Pharmaceuticals, Inc.PharmaceuticalsSeries B$56.6M$63.0Msame sector · same stage
LigoCyte Pharmaceuticals IncPharmaceuticalsSeries B$50.1M$68.0Msame 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
2A Biosciences, Inc.PharmaceuticalsSeed$36.0M82%
Dna Seq 2, Inc.PharmaceuticalsSeed$6.3M80%
Spektron Systems, LLCPharmaceuticalsSeed$95.1M80%
Khloris Biosciences, Inc.PharmaceuticalsSeries A$154.9M80%
Nutrivert Inc.PharmaceuticalsSeed$14.1M80%
Enumeral Biomedical Holdings, Inc.PharmaceuticalsSeries B$22.7M79%
MedAvail Holdings, Inc.PharmaceuticalsSeries B$678.6M79%
Harmony Biosciences II, Inc.PharmaceuticalsSeries D+$1.8B79%
Frequently asked
How much funding has Sprout2 Inc. raised?
Sprout2 Inc. has raised approximately $66.0M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Sprout2 Inc.'s estimated valuation?
Provath's modeled valuation for Sprout2 Inc. is approximately $62.0M (modeled range $22.2M–$101.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Sprout2 Inc. at?
Sprout2 Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Tue Dec 10.
What does Sprout2 Inc. do and where is it based?
Sprout2 Inc. operates in the Pharmaceuticals sector, based in Raleigh.
Explore related

See where Sprout2 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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