Companies · Other Health Care

Stillwater Topco, LLCNew on the radar

LITTLETON · Other Health Care

Diligence memoA one-page analyst read on Stillwater Topco, LLC — recommendation, valuation, rhythm, risks.
$24.7M
Total raised · real
1
Rounds
Latest step-up
Top 15%
Sector rank · raised
Series B
Latest stage · inferred · Fri Feb 27 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

Stillwater Topco, LLC looks fair against its niche peers and is active 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.

Fair
  • Modeled value is 1.06× the median modeled value of Series B Other Health Care companies in 2025–2027 (48 peers) — value vs value, same stage and era.
  • Within the normal band (106% of peer median) for its niche.
Active
  • Last raise 4 mo ago; this sector typically re-raises about every 14 months.
  • Raising on or ahead of the sector's normal rhythm.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Stillwater Topco, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
0.3 yr record
Peak capital year was 2026 with $24.7M across 1 filings.
Market position
ahead of 86% of Other Health Care peers
Capital scale is ahead of 86% of Other Health Care peers; modeled value is above 78% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2026: $24.7M across 1 filings.
  • Largest single filing was $24.7M on 2026-02-27.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
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

Stillwater Topco, LLC is one of 5377 Other Health Care companies tracked from LITTLETON. By capital raised it ranks in the upper tier (ahead of 86% of sector peers), and in the upper tier 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
4
Investors (latest)
2026
Year incorporated
2026-02-27
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$100MSeries B · 2026-02-27 Raised $25M (real) Modeled valuation $97M (est)$25M$97MSeries B2026

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 B$24.7M · 2026

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 25%.

Modeled valuation trajectory
$97.2M
Base estimate est.
$57.9M
Conservative case
$126.7M
Upside case
$137.0M
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 health care sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
64%
Survival probability
42% low · 78% high
1.36×/yr
Annual markup
1.64×/yr upside case
0.3 yr
Elapsed time used
0.3 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
0.3 yr
On record since
2026
First round
New
First-time filer
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) 10× above median
This company$24.7M
Sector median$2.4M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.4× above median
This company$24.7M
Sector median$17.8M
Modeled value — vs sector median (estimate, all stages) 4.4× above median
This company$97.2M
Sector median$22.1M

Raised more than 86% of sector peers (real $). Modeled value above 78% 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 #23 of 48.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Imagine Pediatrics Holdings LLC · Series B Raised $37.6M · modeled $201.2M (est)Porter Cares, Inc. · Series B Raised $48.5M · modeled $183.9M (est)True Medicine Inc. · Series B Raised $42.7M · modeled $175.9M (est)CranioVation, Inc. · Series B Raised $56.7M · modeled $175.0M (est)Seriously Clean LTD. · Series B Raised $32.5M · modeled $166.3M (est)Reprieve Cardiovascular, Inc. · Series B Raised $82.4M · modeled $153.0M (est)CODAN US Holding Corp · Series B Raised $27.8M · modeled $144.6M (est)CODAN US Corp · Series B Raised $27.7M · modeled $144.2M (est)Conceivable Life Sciences Inc. · Series B Raised $63.5M · modeled $142.8M (est)KeyCare, Inc. · Series B Raised $54.4M · modeled $142.7M (est)Particle Dynamics Holdings, Inc. · Series B Raised $30.9M · modeled $140.6M (est)EvolvedMD, Inc. · Series B Raised $49.0M · modeled $139.1M (est)Stillwater Topco, LLC (this company) Raised $24.7M · modeled $97.2M (est)Stillwater Topco, LLC
CompanyStageRaised · realValue · estvs peer med.
Imagine Pediatrics Holdings LLCSeries B$37.6M$201.2M2.18×
Porter Cares, Inc.Series B$48.5M$183.9M2.00×
True Medicine Inc.Series B$42.7M$175.9M1.91×
CranioVation, Inc.Series B$56.7M$175.0M1.90×
Seriously Clean LTD.Series B$32.5M$166.3M1.81×
Reprieve Cardiovascular, Inc.Series B$82.4M$153.0M1.66×
CODAN US Holding CorpSeries B$27.8M$144.6M1.57×
CODAN US CorpSeries B$27.7M$144.2M1.57×
Conceivable Life Sciences Inc.Series B$63.5M$142.8M1.55×
KeyCare, Inc.Series B$54.4M$142.7M1.55×
Particle Dynamics Holdings, Inc.Series B$30.9M$140.6M1.53×
EvolvedMD, Inc.Series B$49.0M$139.1M1.51×
Stillwater Topco, LLC this companySeries B$24.7M$97.2M1.06×
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 B$24.7M2026-02-27$137.0M$97.2M90%
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 B$24.7M2026-02-27
    • First recorded raise — entered as Series B.
    • 4 investors on this round.
Intelligence
Modeled next raise
$39.4M
Modeled next size est.range $25.6M$63.1M
Last step-up
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
James G. Mills2 other2026-02
Registry & provenance

Stillwater Topco, LLC 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
2116033
SEC CIK
2026
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
Spirair, Inc.Other Health CareSeries B$24.7M$116.5Msame sector · same stage
Egaceutical CorpOther Health CareSeries B$25.0M$88.8Msame sector · same stage
Zeno CorpOther Health CareSeries B$24.0M$88.6Msame sector · same stage
LinguaFlex, Inc.Other Health CareSeries B$23.8M$79.8Msame sector · same stage
UAS Laboratories LLCOther Health CareSeries B$25.7M$99.7Msame sector · same stage
Quibble Genomics InstituteOther Health CareSeries B$26.3M$93.2Msame sector · same stage
Sadra Medical, Inc.Other Health CareSeries B$23.0M$88.6Msame sector · same stage
Neuro42, Inc.Other Health CareSeries B$22.2M$96.3Msame 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
WP Stillwater, LLCOther Health CareSeries A$38.1M88%
InterWell Topco L.P.Other Health CareSeries B$178.3M88%
Abs Topco, LlcOther Health CareSeries B$34.2M86%
Coding Solutions Topco, Inc.Other Health CareSeries D+$588.6M86%
Eden Topco LtdOther Health CareSeries B$80.2M84%
Msl Holdco, LlcOther Health CareSeries A$149.9M81%
Seniorcorps, LlcOther Health CareSeries A$98.5M81%
TGHCo, Inc.Other Health CareSeries B$178.2M81%
Frequently asked
How much funding has Stillwater Topco, LLC raised?
Stillwater Topco, LLC has raised approximately $24.7M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Stillwater Topco, LLC's estimated valuation?
Provath's modeled valuation for Stillwater Topco, LLC is approximately $97.2M (modeled range $57.9M–$126.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Stillwater Topco, LLC at?
Stillwater Topco, LLC's latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Feb 27.
What does Stillwater Topco, LLC do and where is it based?
Stillwater Topco, LLC operates in the Other Health Care sector, based in LITTLETON.
Explore related

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

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