Companies · Biotechnology

SQZ Biotechnologies Co

Watertown · Biotechnology

Diligence memoA one-page analyst read on SQZ Biotechnologies Co — recommendation, valuation, rhythm, risks.
$166.6M
Total raised · real
4
Rounds
0.9×
Latest step-up
Top 6%
Sector rank · raised
Series C
Latest stage · inferred · Thu Dec 19 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

SQZ Biotechnologies Co looks fair against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.40× the median modeled value of Series C Biotechnology companies in 2019–2021 (120 peers) — value vs value, same stage and era.
  • Within the normal band (140% of peer median) for its niche.
Dormant
  • Last raise 6.5 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal 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 Biotechnology

SQZ Biotechnologies Co is one of 4293 Biotechnology companies tracked from Watertown. By capital raised it ranks among the largest (ahead of 95% of sector peers), and among the largest 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
27
Investors (latest)
2019-12-19
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$1.3B$2.5B$3.8B$5.0BSeries A · 2015-06-15 Raised $5.0M (real) Modeled valuation $181M (est)$5.0M$181MSeries A2015Series A · 2015-06-15 Raised $5.1M (real) Modeled valuation $184M (est)$5.1M$184MSeries A2015Series B · 2016-09-19 Raised $16M (real) Modeled valuation $625M (est)$16M$625MSeries B2016Series B · 2016-09-19 Raised $24M (real) Modeled valuation $955M (est)$24M$955MSeries B2016Series C · 2018-05-11 Raised $71M (real) Modeled valuation $2.9B (est)$71M$2.9BSeries C2018Series C · 2019-12-19 Raised $66M (real) Modeled valuation $2.7B (est)$66M$2.7BSeries C2019+$5.1M+$16M+$24M+$71M+$66MCumulative $187M

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$5.0M · 2015
Series A extension$5.1M · 2015
Series B$15.7M · 2016
Series B extension$24.1M · 2016
Series C$71.3M · 2018
Series C extension$66.3M · 2019

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: 60%.

Modeled valuation trajectory
$2.7B
Base estimate est.
$204.9M
Conservative case
$7.1B
Upside case
$441.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series A · modeled $181.2M · 2015-06-152015Series A · modeled $183.7M · 2015-06-15Series B · modeled $624.7M · 2016-09-19Series B · modeled $955.0M · 2016-09-19Series C · modeled $2.9B · 2018-05-11Series C · modeled $2.7B · 2019-12-192019
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
62%
Survival probability
46% low · 72% high
1.46×/yr
Annual markup
1.68×/yr upside case
6.0 yr
Elapsed time used
6.5 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$36.9M/yr
Capital velocity
11.1 yr
On record since
2015
First round
6
Rounds on file
How it compares to the market

Benchmarked against 4293 companies in Biotechnology. 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) 23× above median
This company$166.6M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.4× above median
This company$66.3M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 42× above median
This company$2.7B
Sector median$64.2M

Raised more than 95% of sector peers (real $). Modeled value above 96% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #32 of 120.

This companyCohort peer
$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Stem Biotech LLC · Series C Raised $100.0M · modeled $4.1B (est)Kinnate Biopharma Inc. · Series C Raised $172.5M · modeled $3.9B (est)Arcutis Biotherapeutics, Inc. · Series C Raised $94.5M · modeled $3.9B (est)DNA Research INST LLC · Series C Raised $94.5M · modeled $3.7B (est)M3 Biotechnology, Inc. · Series C Raised $107.3M · modeled $3.6B (est)Checkmate Pharmaceuticals, Inc. · Series C Raised $185.1M · modeled $3.5B (est)Black Diamond Therapeutics, Inc. · Series C Raised $146.3M · modeled $3.5B (est)Finch Therapeutics Group, Inc. · Series C Raised $179.9M · modeled $3.5B (est)Shattuck Labs, Inc. · Series C Raised $165.4M · modeled $3.4B (est)TScan Therapeutics, Inc. · Series C Raised $123.3M · modeled $3.3B (est)Edgewise Therapeutics, Inc. · Series C Raised $120.1M · modeled $3.3B (est)Miragen Therapeutics, Inc. · Series C Raised $197.8M · modeled $3.3B (est)SQZ Biotechnologies Co (this company) Raised $166.6M · modeled $2.7B (est)SQZ Biotechnologies Co
CompanyStageRaised · realValue · estvs peer med.
Stem Biotech LLCSeries C$100.0M$4.1B2.11×
Kinnate Biopharma Inc.Series C$172.5M$3.9B2.02×
Arcutis Biotherapeutics, Inc.Series C$94.5M$3.9B1.99×
DNA Research INST LLCSeries C$94.5M$3.7B1.88×
M3 Biotechnology, Inc.Series C$107.3M$3.6B1.88×
Checkmate Pharmaceuticals, Inc.Series C$185.1M$3.5B1.79×
Black Diamond Therapeutics, Inc.Series C$146.3M$3.5B1.79×
Finch Therapeutics Group, Inc.Series C$179.9M$3.5B1.78×
Shattuck Labs, Inc.Series C$165.4M$3.4B1.75×
TScan Therapeutics, Inc.Series C$123.3M$3.3B1.72×
Edgewise Therapeutics, Inc.Series C$120.1M$3.3B1.70×
Miragen Therapeutics, Inc.Series C$197.8M$3.3B1.69×
SQZ Biotechnologies Co this companySeries C$166.6M$2.7B1.40×
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$5.0M2015-06-15$22.8M$181.2M85%
Series A$5.1M2015-06-15$23.1M$183.7M85%
Series B$15.7M2016-09-19$87.4M$624.7M90%
Series B$24.1M2016-09-19$133.7M$955.0M90%
Series C$71.3M2018-05-11$475.0M$2.9B90%
Series C$66.3M2019-12-19$441.7M$2.7B90%
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$5.0M2015-06-15
    • First recorded raise — entered as Series A.
    • 22 investors on this round.
  2. Series A$5.1M2015-06-15
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 24 investors on this round.
  3. Series B$15.7M2016-09-19
    • Raised 15 mo later, in step with the ~14 mo sector norm.
    • Round 3.1× larger than the prior — scaling up.
    • 26 investors on this round.
  4. Series B$24.1M2016-09-19
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× larger than the prior — scaling up.
    • 34 investors on this round.
  5. Series C$71.3M2018-05-11
    • Raised 20 mo later, in step with the ~14 mo sector norm.
    • Round 3.0× larger than the prior — scaling up.
    • 48 investors on this round.
  6. Series C$66.3M2019-12-19
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 27 investors on this round.
Intelligence
2020 ~Q4
Modeled next raise · ~11mo cadence
$66.3M
Modeled next size est.range $66.3M$106.0M
0.9×
Last step-up
$36.9M/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
Jonathan Fleming8 other2015-06
Garry A. Nicholson2 other2016-09
Amy W. Schulman1 other2015-06
Alex A. Balcom2018-05
Alexandra W. Balcom2019-12
Armon Sharei, Ph.D.2015-06
David W. First2019-12
Eric W. Moessinger2016-09
Garry W. Nicholson2016-09
Howard A. Bernstein2016-09
Howard W. Bernstein2016-09
Howard W. Bernstein, M.D., Ph.D.2019-12
Klavs F. Jensen, Ph.D.2015-06
Kris A. Elverum2016-09
Kris W. Elverum2016-09
Lawrence W. Knopf2019-12
Marc A. Elia2018-05
Marc W. Elia2019-12
Mark W. Murcko, Ph.D.2016-09
Oliver W. Rosen, M.D.2019-12
Pushkal W. Garg2018-05
Robert Langer, Ph.D.2015-06
Robert Langer, Sc.D.2016-09
Robert S. Langer, Sc.D.2016-09
Registry & provenance

SQZ Biotechnologies Co 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
1604477
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
Personal Genome Diagnostics Inc.BiotechnologySeries C$198.1M$3.2Bnetwork1 shared operator · same sector · same stage
Q-State Holdings, Inc.BiotechnologySeries C$86.1M$869.1Mnetwork1 shared operator · same sector · same stage
Sagimet Biosciences Inc.BiotechnologySeries C$166.6M$2.4Bsame sector · same stage
E-scape Bio, Inc.BiotechnologySeries C$167.1M$2.8Bsame sector · same stage
Shattuck Labs, Inc.BiotechnologySeries C$165.4M$3.4Bsame sector · same stage
Viracta Therapeutics, INC.BiotechnologySeries C$164.6M$2.1Bsame sector · same stage
Novan, Inc.BiotechnologySeries C$163.9M$1.3Bsame sector · same stage
Sirnaomics, Inc.BiotechnologySeries C$162.0M$3.2Bsame 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
Biorez, Inc.BiotechnologySeries A$89.1M88%
Cytek BioSciences, Inc.BiotechnologySeries D+$4.5B87%
CytoBioscience, Inc.BiotechnologySeries B$60.7M87%
Paterna Biosciences, Inc.BiotechnologySeed$39.0M87%
Mosaic Biosciences, Inc.BiotechnologySeries A$176.4M87%
Jabez Biosciences, Inc.BiotechnologySeed$993K87%
Phylex BioSciences, Inc.BiotechnologyPre-Seed$13.8M87%
Quadrant Biosciences IncBiotechnologySeries B$241.1M87%
Frequently asked
How much funding has SQZ Biotechnologies Co raised?
SQZ Biotechnologies Co has raised approximately $166.6M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is SQZ Biotechnologies Co's estimated valuation?
Provath's modeled valuation for SQZ Biotechnologies Co is approximately $2.7B (modeled range $204.9M–$7.1B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is SQZ Biotechnologies Co at?
SQZ Biotechnologies Co's latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Dec 19.
What does SQZ Biotechnologies Co do and where is it based?
SQZ Biotechnologies Co operates in the Biotechnology sector, based in Watertown.
Explore related

See where SQZ Biotechnologies Co sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

Is this your company?

If you work at SQZ Biotechnologies Co, claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.