Companies · Pharmaceuticals

TearClear Corp.

Princeton · Pharmaceuticals

Diligence memoA one-page analyst read on TearClear Corp. — recommendation, valuation, rhythm, risks.
$52.4M
Total raised · real
6
Rounds
2.0×
Latest step-up
Top 19%
Sector rank · raised
Series B
Latest stage · inferred · Thu Jun 29 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

TearClear Corp. looks fair against its niche peers and is at-risk 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 0.94× the median modeled value of Series B Pharmaceuticals companies in 2022–2024 (51 peers) — value vs value, same stage and era.
  • Within the normal band (94% of peer median) for its niche.
At-risk
  • Last raise 3.0 yr ago; this sector typically re-raises about every 13 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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

TearClear Corp. is one of 1610 Pharmaceuticals companies tracked from Princeton. By capital raised it ranks in the upper tier (ahead of 82% of sector peers), and mid-pack 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
70
Investors (latest)
2023-06-29
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$250M$500M$750M$1.0BSeed · 2017-05-11 Raised $2.4M (real) Modeled valuation $91M (est)Seed2017Series A · 2017-05-11 Raised $4.6M (real) Modeled valuation $143M (est)Series A2017Series A · 2019-02-01 Raised $5.0M (real) Modeled valuation $155M (est)Series A2019Series A · 2020-01-31 Raised $2.8M (real) Modeled valuation $86M (est)Series A2020Series B · 2020-04-15 Raised $22M (real) Modeled valuation $756M (est)Series B2020Series B · 2020-04-15 Raised $22M (real) Modeled valuation $760M (est)Series B2020Series B · 2020-04-15 Raised $16M (real) Modeled valuation $537M (est)Series B2020Series A · 2022-04-18 Raised $5.0M (real) Modeled valuation $69M (est)Series A2022Series B · 2022-04-18 Raised $5.9M (real) Modeled valuation $99M (est)Series B2022Series B · 2023-06-29 Raised $12M (real) Modeled valuation $123M (est)Series B2023+$4.6M+$5.0M+$2.8M+$22M+$22M+$16M+$5.0M+$5.9M+$12MCumulative $98M

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$2.4M · 2017
Series A$4.6M · 2017
Series A extension$5.0M · 2019
Series A extension$2.8M · 2020
Series B$22.2M · 2020
Series B extension$22.3M · 2020
Series B extension$15.8M · 2020
Bridge · Series B-stage$5.0M · 2022smaller follow-on
Series B extension$5.9M · 2022
Series B extension$11.8M · 2023

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: 75%.

Modeled valuation trajectory
$122.5M
Base estimate est.
$24.7M
Conservative case
$265.8M
Upside case
$65.4M
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 pharma sector profile. Directional, not a quoted figure.

Seed · modeled $90.8M · 2017-05-112017Series A · modeled $143.4M · 2017-05-11Series A · modeled $154.9M · 2019-02-01Series A · modeled $86.4M · 2020-01-31Series B · modeled $756.5M · 2020-04-15Series B · modeled $759.9M · 2020-04-15Series B · modeled $536.6M · 2020-04-15Series A · modeled $69.2M · 2022-04-18Series B · modeled $98.6M · 2022-04-18Series B · modeled $122.5M · 2023-06-292023
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
57%
Survival probability
38% low · 70% high
1.49×/yr
Annual markup
1.80×/yr upside case
3.0 yr
Elapsed time used
3.0 yr actual, capped for stale marks
pharma
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
8 mo
Avg between rounds
$8.5M/yr
Capital velocity
9.1 yr
On record since
2017
First round
10
Rounds on file
How it compares to the market

Benchmarked against 1610 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) 6.5× above median
This company$52.4M
Sector median$8.1M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.7× of median
This company$11.8M
Sector median$18.0M
Modeled value — vs sector median (estimate, all stages) 1.6× above median
This company$122.5M
Sector median$76.1M

Raised more than 82% of sector peers (real $). Modeled value above 58% 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 #28 of 51.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)MedAvail Holdings, Inc. · Series B Raised $52.9M · modeled $678.6M (est)Revalesio Corp · Series B Raised $103.4M · modeled $624.1M (est)Kinaset Therapeutics, Inc. · Series B Raised $30.0M · modeled $437.7M (est)Venatorx Pharmaceuticals, Inc. · Series B Raised $124.3M · modeled $420.5M (est)Cxl Ophthalmics, Inc. · Series B Raised $26.4M · modeled $369.7M (est)Delex Healthcare Group, Inc. · Series B Raised $40.0M · modeled $340.8M (est)Comanche Biopharma Corp. · Series B Raised $73.6M · modeled $325.6M (est)Petros Pharmaceuticals, Inc. · Series B Raised $41.7M · modeled $307.7M (est)I 3 Pharmaceuticals, LLC · Series B Raised $16.0M · modeled $262.2M (est)Relay Therapeutics, Inc. · Series B Raised $30.0M · modeled $253.0M (est)Capacity Bio, Inc. · Series B Raised $19.2M · modeled $245.7M (est)MediWound Ltd. · Series B Raised $30.5M · modeled $243.1M (est)TearClear Corp. (this company) Raised $52.4M · modeled $122.5M (est)TearClear Corp.
CompanyStageRaised · realValue · estvs peer med.
MedAvail Holdings, Inc.Series B$52.9M$678.6M5.23×
Revalesio CorpSeries B$103.4M$624.1M4.81×
Kinaset Therapeutics, Inc.Series B$30.0M$437.7M3.37×
Venatorx Pharmaceuticals, Inc.Series B$124.3M$420.5M3.24×
Cxl Ophthalmics, Inc.Series B$26.4M$369.7M2.85×
Delex Healthcare Group, Inc.Series B$40.0M$340.8M2.63×
Comanche Biopharma Corp.Series B$73.6M$325.6M2.51×
Petros Pharmaceuticals, Inc.Series B$41.7M$307.7M2.37×
I 3 Pharmaceuticals, LLCSeries B$16.0M$262.2M2.02×
Relay Therapeutics, Inc.Series B$30.0M$253.0M1.95×
Capacity Bio, Inc.Series B$19.2M$245.7M1.89×
MediWound Ltd.Series B$30.5M$243.1M1.87×
TearClear Corp. this companySeries B$52.4M$122.5M0.94×
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$2.4M2017-05-11$11.9M$90.8M90%
Series A$4.6M2017-05-11$21.1M$143.4M90%
Series A$5.0M2019-02-01$22.7M$154.9M90%
Series A$2.8M2020-01-31$12.7M$86.4M90%
Series B$22.2M2020-04-15$123.6M$756.5M90%
Series B$22.3M2020-04-15$124.1M$759.9M90%
Series B$15.8M2020-04-15$87.7M$536.6M90%
Series A$5.0M2022-04-18$22.7M$69.2M90%
Series B$5.9M2022-04-18$32.8M$98.6M90%
Series B$11.8M2023-06-29$65.4M$122.5M90%
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$2.4M2017-05-11
    • First recorded raise — entered as Seed.
    • 9 investors on this round.
  2. Series A$4.6M2017-05-11
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.9× larger than the prior — scaling up.
    • 11 investors on this round.
  3. Series A$5.0M2019-02-01
    • Raised again after 21 mo — slower than the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 22 investors on this round.
  4. Series A$2.8M2020-01-31
    • Raised 12 mo later, in step with the ~13 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
    • 32 investors on this round.
  5. Series B$22.2M2020-04-15
    • Came back fast: 2 mo vs the ~13 mo sector norm.
    • Round 8.0× larger than the prior — scaling up.
    • 50 investors on this round.
  6. Series B$22.3M2020-04-15
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 51 investors on this round.
  7. Series B$15.8M2020-04-15
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× smaller than the prior — bridge or down round.
    • 39 investors on this round.
  8. Series A$5.0M2022-04-18
    • Raised again after 24 mo — slower than the ~13 mo sector norm.
    • Round 3.2× smaller than the prior — bridge or down round.
    • 40 investors on this round.
  9. Series B$5.9M2022-04-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 43 investors on this round.
  10. Series B$11.8M2023-06-29
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • 70 investors on this round.
Intelligence
2024 ~Q1
Modeled next raise · ~8mo cadence
$23.5M
Modeled next size est.range $15.2M$37.5M
2.0×
Last step-up
$8.5M/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 Link10 other2017-05
Tyler Stowater6 other2017-05
Richard Harrison5 other2023-06
Robert Bailey3 other2022-04
Richard Heinick2 other2017-05
Robert Dempsey1 other2020-04
Steve Pazol1 other2017-05
Stuart Raetzman1 other2022-04
Jeffry Weinhuff2017-05
Kevin Hershfield2017-05
Srini Venkatesh2023-06
Registry & provenance

TearClear Corp. 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
1706975
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
Allegro Ophthalmics, LLCPharmaceuticalsSeries B$60.4M$115.9Mnetwork1 shared operator · same sector · same stage
Zosano Pharma IncPharmaceuticalsSeries B$50.9M$160.0Msame sector · same stage
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LigoCyte Pharmaceuticals IncPharmaceuticalsSeries B$50.1M$68.0Msame sector · same stage
Adaptive Phage Therapeutics, Inc.PharmaceuticalsSeries B$49.5M$129.8Msame sector · same stage
Aridis Pharmaceuticals, Inc.PharmaceuticalsSeries B$56.6M$63.0Msame sector · same stage
Clearside Biomedical, Inc.PharmaceuticalsSeries B$48.5M$113.9Msame sector · same stage
Equilibre BioPharmaceuticals Corp.PharmaceuticalsSeries B$47.7M$79.7Msame 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
TearSolutions, Inc.BiotechnologySeries A$1.4M81%
Riparian Pharmaceuticals, Inc.PharmaceuticalsPre-Seed$23.7M80%
Waveclear, Inc.BiotechnologySeed$8.4M78%
Lysoclear, Inc.PharmaceuticalsSeed$114.1M78%
Blue Oak Pharmaceuticals, Inc.PharmaceuticalsSeed$67.7M77%
Lb Pharmaceuticals IncPharmaceuticalsSeries D+$1.5B77%
Melt Pharmaceuticals, Inc.PharmaceuticalsSeries C$510.5M77%
Sermonix Pharmaceuticals, Inc.PharmaceuticalsSeries C$877.9M77%
Frequently asked
How much funding has TearClear Corp. raised?
TearClear Corp. has raised approximately $52.4M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is TearClear Corp.'s estimated valuation?
Provath's modeled valuation for TearClear Corp. is approximately $122.5M (modeled range $24.7M–$265.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is TearClear Corp. at?
TearClear Corp.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Jun 29.
What does TearClear Corp. do and where is it based?
TearClear Corp. operates in the Pharmaceuticals sector, based in Princeton.
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