Companies · Pharmaceuticals

Surterra Holdings, Inc./DE

ATLANTA · Pharmaceuticals

Diligence memoA one-page analyst read on Surterra Holdings, Inc./DE — recommendation, valuation, rhythm, risks.
$230.4M
Total raised · real
2
Rounds
3.0×
Latest step-up
Top 4%
Sector rank · raised
Series D+
Latest stage · inferred · Tue Oct 16 2018 00:00:00 GMT+0000 (Coordinated Universal Time)

Surterra Holdings, Inc./DE 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 pharma 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 1.32× the median modeled value of Series D+ Pharmaceuticals companies in 2016–2018 (11 peers) — value vs value, same stage and era.
  • Within the normal band (132% of peer median) for its niche.
Dormant
  • Last raise 7.7 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.

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

Issuer-vehicle patternmedium confidence

Surterra Holdings, Inc./DE 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
8.0 yr record
Peak capital year was 2018 with $285.1M across 3 filings.
Market position
ahead of 97% of Pharmaceuticals peers
Capital scale is ahead of 97% of Pharmaceuticals peers; modeled value is above 99% 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
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
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 2018: $285.1M across 3 filings.
  • Largest single filing was $165.4M on 2018-10-16.
  • Filing rows sum to $285.1M, while canonical raised total is $230.4M; likely amendments/superseded rows are mixed into the detail view.
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.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
  • Canonical filtering should be tightened before using row-level totals for diligence.
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

Surterra Holdings, Inc./DE is one of 1613 Pharmaceuticals companies tracked from ATLANTA. By capital raised it ranks among the largest (ahead of 97% 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
31
Investors (latest)
2018
Year incorporated
2018-10-16
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$2.5B$5.0B$7.5B$10.0BSeries C · 2018-07-20 Raised $65M (real) Modeled valuation $2.3B (est)$65M$2.3BSeries C2018Series C · 2018-10-16 Raised $55M (real) Modeled valuation $1.9B (est)$55M$1.9BSeries C2018Series D+ · 2018-10-16 Raised $165M (real) Modeled valuation $5.8B (est)$165M$5.8BSeries D+2018+$55M+$165MCumulative $285M

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 C$65.0M · 2018
Series C extension$54.6M · 2018
Series D+$165.4M · 2018

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$5.8B
Base estimate est.
$787.4M
Conservative case
$12.8B
Upside case
$1.4B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the pharma sector profile. Directional, not a quoted figure.

Series C · modeled $2.3B · 2018-07-202018Series C · modeled $1.9B · 2018-10-16Series D+ · modeled $5.8B · 2018-10-162018
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
71%
Survival probability
57% low · 79% high
1.35×/yr
Annual markup
1.51×/yr upside case
6.0 yr
Elapsed time used
7.7 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
1 mo
Avg between rounds
Capital velocity
8.0 yr
On record since
2018
First round
3
Rounds on file
How it compares to the market

Benchmarked against 1613 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) 28× above median
This company$230.4M
Sector median$8.1M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.5× above median
This company$165.4M
Sector median$111.8M
Modeled value — vs sector median (estimate, all stages) 77× above median
This company$5.8B
Sector median$76.1M

Raised more than 97% of sector peers (real $). Modeled value above 99% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #2 of 11.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0B$100.0B$100.0M$1.0BCapital raised (log)Concordia International Corp. · Series D+ Raised $228.0M · modeled $8.1B (est)Ironwood Pharmaceuticals Inc · Series D+ Raised $350.0M · modeled $5.3B (est)Melinta Therapeutics, Inc. /New/ · Series D+ Raised $346.8M · modeled $4.9B (est)Beam Therapeutics Inc. · Series D+ Raised $218.6M · modeled $4.8B (est)Tris Pharma, Inc. · Series D+ Raised $125.0M · modeled $4.4B (est)Ardelyx, Inc. · Series D+ Raised $210.4M · modeled $3.9B (est)Tesaro, Inc. · Series D+ Raised $255.0M · modeled $1.8B (est)Orexigen Therapeutics, Inc. · Series D+ Raised $274.6M · modeled $1.8B (est)Strongbridge Biopharma plc · Series D+ Raised $220.6M · modeled $1.2B (est)RxBio Holdings, Inc. · Series D+ Raised $128.7M · modeled $12.0M (est)Surterra Holdings, Inc./DE (this company) Raised $230.4M · modeled $5.8B (est)Surterra Holdings, Inc./DE
CompanyStageRaised · realValue · estvs peer med.
Concordia International Corp.Series D+$228.0M$8.1B1.82×
Surterra Holdings, Inc./DE this companySeries D+$230.4M$5.8B1.32×
Ironwood Pharmaceuticals IncSeries D+$350.0M$5.3B1.20×
Melinta Therapeutics, Inc. /New/Series D+$346.8M$4.9B1.10×
Beam Therapeutics Inc.Series D+$218.6M$4.8B1.08×
Tris Pharma, Inc.Series D+$125.0M$4.4B1.00×
Ardelyx, Inc.Series D+$210.4M$3.9B0.88×
Tesaro, Inc.Series D+$255.0M$1.8B0.40×
Orexigen Therapeutics, Inc.Series D+$274.6M$1.8B0.40×
Strongbridge Biopharma plcSeries D+$220.6M$1.2B0.28×
RxBio Holdings, Inc.Series D+$128.7M$12.0M0.00×
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 C$65.0M2018-07-20$433.3M$2.3B90%
Series C$54.6M2018-10-16$364.2M$1.9B90%
Series D+$165.4M2018-10-16$1.4B$5.8B90%
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 C$65.0M2018-07-20
    • First recorded raise — entered as Series C.
    • 31 investors on this round.
  2. Series C$54.6M2018-10-16
    • Came back fast: 3 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 17 investors on this round.
  3. Series D+$165.4M2018-10-16
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.0× larger than the prior — scaling up.
    • 31 investors on this round.
Intelligence
2018 ~Q4
Modeled next raise · ~1mo cadence
$496.3M
Modeled next size est.range $322.6M$794.1M
3.0×
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
Jason Jacob Becker2 other2018-10
Jason H Becker1 other2018-10
Robert Jacob Bergmann1 other2018-10
Tom Jacob Venables1 other2018-10
Andrew H. Allen2018-10
Andrew Jacob Allen2018-10
James H. Whitcomb2018-07
Jay H. Holmes2018-10
Jay Jacob Holmes2018-10
Tim H. Vining2018-10
Tim Jacob Vining2018-10
Tom H. Venables2018-10
William H. Wrigley Jr.2018-10
William Jacob Wrigley Jr.2018-10
Registry & provenance

Surterra Holdings, Inc./DE 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
1749034
SEC CIK
2018
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
Surterra Holdings, Inc.OtherSeries C$98.0M$1.4Bnetwork3 shared operators
Concordia International Corp.PharmaceuticalsSeries D+$228.0M$8.1Bsame sector · same stage
Strongbridge Biopharma plcPharmaceuticalsSeries D+$220.6M$1.2Bsame sector · same stage
Cingulate Inc.PharmaceuticalsSeries D+$220.0M$5.4Bsame sector · same stage
Beam Therapeutics Inc.PharmaceuticalsSeries D+$218.6M$4.8Bsame sector · same stage
NovaBay Pharmaceuticals, Inc.PharmaceuticalsSeries D+$218.1M$913.2Msame sector · same stage
Verona Pharma plcPharmaceuticalsSeries D+$244.7M$7.0Bsame sector · same stage
MAPS Public Benefit CorpPharmaceuticalsSeries D+$215.1M$2.9Bsame 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
Surterra Holdings, Inc.OtherSeries C$1.4B85%
MedAvail Holdings, Inc.PharmaceuticalsSeries B$679.3M79%
Receptor Holdings, Inc.PharmaceuticalsSeries B$141.0M78%
Enumeral Biomedical Holdings, Inc.PharmaceuticalsSeries B$22.7M78%
ADARx Pharmaceuticals, Inc.PharmaceuticalsSeries D+$2.8B78%
Sator Holdings LLCPharmaceuticalsPre-Seed$11.8M78%
ProVet Investment Holdings, LLCPharmaceuticalsSeries A$11.2M78%
Regenacy Pharmaceuticals, Inc.PharmaceuticalsSeries B$142.6M78%
Frequently asked
How much funding has Surterra Holdings, Inc./DE raised?
Surterra Holdings, Inc./DE has raised approximately $230.4M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Surterra Holdings, Inc./DE's estimated valuation?
Provath's modeled valuation for Surterra Holdings, Inc./DE is approximately $5.8B (modeled range $787.4M–$12.8B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Surterra Holdings, Inc./DE at?
Surterra Holdings, Inc./DE's latest modeled financing stage is Series D+. Its most recent recorded round closed around Tue Oct 16.
What does Surterra Holdings, Inc./DE do and where is it based?
Surterra Holdings, Inc./DE operates in the Pharmaceuticals sector, based in ATLANTA.
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