Diligence memo · auto-generated · as of July 3, 2026
TBC - The Boring Co
TBC - The Boring Co has raised $905M over 3 rounds; too few niche peers to rank its valuation yet.
Businessfiled
TBC - The Boring Co operates in Energy, based in PFLUGERVILLE. The Boring Company constructs safe, fast-to-dig, and low-cost transportation, utility, and freight tunnels.
Sub-sector tags: energy.
Capital & rounds (filed)filed
TBC - The Boring Co has raised $905M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Growth/Late (a round over $400M).
Largest single filing: $675M on 2022-04-20.
Most recent recorded round closed around 2022-04-20.
Valuation (modeled)modeled
Provath models TBC - The Boring Co at approximately $7.5B (range $5.0B–$11.6B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 24 months.
Last raise 4.2 yr ago; this sector typically re-raises about every 12 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 5.8× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 99% of Energy peers (69 compared).
Modeled value ranks above 100% of those peers.
Closest niche peers: Redwood Materials, Inc..
Peoplefiled
5 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.