Companies · Other Travel

Surf Air Inc.

SANTA MONICA · Other Travel

Diligence memoA one-page analyst read on Surf Air Inc. — recommendation, valuation, rhythm, risks.
$17.9M
Total raised · real
3
Rounds
1.8×
Latest step-up
Top 19%
Sector rank · raised
Series A
Latest stage · inferred · Fri Aug 17 2018 00:00:00 GMT+0000 (Coordinated Universal Time)

Surf Air Inc. has raised $18M over 3 rounds; too few niche peers to rank its valuation yet.

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

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

Dormant
  • Last raise 7.9 yr ago; this sector typically re-raises about every 9 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 Other Travel

Surf Air Inc. is one of 176 Other Travel companies tracked from SANTA MONICA. By capital raised it ranks in the upper tier (ahead of 82% 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)
2018-08-17
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$25M$50M$75M$100MSeed · 2012-05-08 Raised $3.8M (real) Modeled valuation $27M (est)$3.8M$27MSeed2012Seed · 2012-12-10 Raised $2.6M (real) Modeled valuation $19M (est)$2.6M$19MSeed2012Series A · 2012-12-10 Raised $5.0M (real) Modeled valuation $29M (est)$5.0M$29MSeries A2012Series A · 2018-08-17 Raised $9.1M (real) Modeled valuation $53M (est)$9.1M$53MSeries A2018+$2.6M+$5.0M+$9.1MCumulative $21M

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
Seed$3.8M · 2012
Seed extension$2.6M · 2012
Series A$5.0M · 2012
Series A extension$9.1M · 2018

Stages are modeled from round size (public records carry no series label). No record for: Pre-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
$53.4M
Base estimate est.
$11.1M
Conservative case
$290.3M
Upside case
$41.6M
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 travel sector profile. Directional, not a quoted figure.

Seed · modeled $27.0M · 2012-05-082012Seed · modeled $18.6M · 2012-12-10Series A · modeled $29.3M · 2012-12-10Series A · modeled $53.4M · 2018-08-172018
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
49%
Survival probability
27% low · 67% high
1.18×/yr
Annual markup
1.48×/yr upside case
6.0 yr
Elapsed time used
7.9 yr actual, capped for stale marks
travel
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
25 mo
Avg between rounds
$2.9M/yr
Capital velocity
14.2 yr
On record since
2012
First round
4
Rounds on file
How it compares to the market

Benchmarked against 176 companies in Other Travel. 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) 7.1× above median
This company$17.9M
Sector median$2.5M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.3× above median
This company$9.1M
Sector median$7.0M
Modeled value — vs sector median (estimate, all stages) 6.0× above median
This company$53.4M
Sector median$8.9M

Raised more than 82% of sector peers (real $). Modeled value above 84% 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 companyCohort peer
$10.0M$100.0M$1.0M$10.0M$100.0MCapital raised (log)Tourism Holdings Ltd · Series A Raised $8.0M · modeled $46.7M (est)Etch Mobile, Inc. · Series A Raised $5.0M · modeled $29.2M (est)Mozio Inc. · Series A Raised $7.1M · modeled $25.8M (est)Surf Air Inc. (this company) Raised $17.9M · modeled $53.4M (est)Surf Air Inc.
CompanyStageRaised · realValue · estvs peer med.
Surf Air Inc. this companySeries A$17.9M$53.4M1.41×
Tourism Holdings LtdSeries A$8.0M$46.7M1.23×
Etch Mobile, Inc.Series A$5.0M$29.2M0.77×
Mozio Inc.Series A$7.1M$25.8M0.68×
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.
Seed$3.8M2012-05-08$18.8M$27.0M85%
Seed$2.6M2012-12-10$12.9M$18.6M85%
Series A$5.0M2012-12-10$22.8M$29.3M85%
Series A$9.1M2018-08-17$41.6M$53.4M90%
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. Seed$3.8M2012-05-08
    • First recorded raise — entered as Seed.
    • 38 investors on this round.
  2. Seed$2.6M2012-12-10
    • Raised 7 mo later, in step with the ~9 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  3. Series A$5.0M2012-12-10
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.9× larger than the prior — scaling up.
    • 10 investors on this round.
  4. Series A$9.1M2018-08-17
    • Raised again after 68 mo — slower than the ~9 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 4 investors on this round.
Intelligence
2020 ~Q3
Modeled next raise · ~25mo cadence
$16.6M
Modeled next size est.range $10.8M$26.6M
1.8×
Last step-up
$2.9M/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
William Woodward6 other2012-05
James Bailey5 other2018-08
Dennis Phelps4 other2018-08
Heidi Crane4 other2018-08
John D'Agostino4 other2018-08
Raj Ganguly3 other2012-12
Sudhin Shahani3 other2018-08
David Eyerly2012-05
Reed Farnsworth2012-12
Wade Eyerly2012-05
Registry & provenance

Surf Air 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
1558124
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
Surf Air Global LtdOther TechnologySeries A$9.9M$166.4Mnetwork5 shared operators · same stage
Fora Travel, Inc.Other TravelSeries A$18.2M$57.1Msame sector · same stage
RVShare, LLCOther TravelSeries A$14.2M$83.2Msame sector · same stage
Heli Destinations 2, LlcOther TravelSeries A$13.5M$47.5Msame sector · same stage
Ridecharge IncOther TravelSeries A$12.1M$12.3Msame sector · same stage
Heli Destinations 3, LLCOther TravelSeries A$11.0M$28.4Msame sector · same stage
Cruisebound, Inc.Other TravelSeries A$30.4M$38.6Msame sector · same stage
U.S. Coachways, Inc.Other TravelSeries A$10.0M$32.5Msame 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
Mint Air, IncOther TravelSeries B$209.3M89%
Surf Air Mobility Inc.Airlines and AirportsSeries C$401.1M88%
Surf Air Global LtdOther TechnologySeries A$166.4M88%
Aero Technologies, Inc.Other TravelSeries B$121.9M84%
Personal Airline Exchange, Inc.Other TravelSeed$6.9M83%
Tourism Holdings LtdOther TravelSeries A$46.7M83%
Residential Cruise Holdings IncOther TravelSeries A$11.4M82%
Cruisebound, Inc.Other TravelSeries A$38.6M82%
Frequently asked
How much funding has Surf Air Inc. raised?
Surf Air Inc. has raised approximately $17.9M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Surf Air Inc.'s estimated valuation?
Provath's modeled valuation for Surf Air Inc. is approximately $53.4M (modeled range $11.1M–$290.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Surf Air Inc. at?
Surf Air Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Fri Aug 17.
What does Surf Air Inc. do and where is it based?
Surf Air Inc. operates in the Other Travel sector, based in SANTA MONICA.
Explore related

See where Surf Air 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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