Companies · Other Technology

Telecommunication Systems Inc /Fa/

ANNAPOLIS · Other Technology

Diligence memoA one-page analyst read on Telecommunication Systems Inc /Fa/ — recommendation, valuation, rhythm, risks.
$107.3M
Total raised · real
6
Rounds
1.1×
Latest step-up
Top 4%
Sector rank · raised
Series C
Latest stage · inferred · Fri Jul 06 2012 00:00:00 GMT+0000 (Coordinated Universal Time)

Telecommunication Systems Inc /Fa/ looks under-valued 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 technology sector profile.

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

Under-valued
  • Modeled value is 0.28× the median modeled value of Series C Other Technology companies in 2010–2012 (61 peers) — value vs value, same stage and era.
Dormant
  • Last raise 14.0 yr ago; this sector typically re-raises about every 13 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 Technology

Telecommunication Systems Inc /Fa/ is one of 21302 Other Technology companies tracked from ANNAPOLIS. 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
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$500M$1.0B$1.5B$2.0BSeries A · 2009-05-19 Raised $9.0M (real) Modeled valuation $250M (est)Series A2009Series A · 2009-11-02 Raised $8.5M (real) Modeled valuation $236M (est)Series A2009Series A · 2009-11-02 Raised $8.5M (real) Modeled valuation $236M (est)Series A2009Series A · 2009-11-16 Raised $2.0M (real) Modeled valuation $55M (est)Series A2009Series C · 2009-12-15 Raised $60M (real) Modeled valuation $1.9B (est)Series C2009Series C · 2011-01-31 Raised $14M (real) Modeled valuation $424M (est)Series C2011Series C · 2012-07-06 Raised $14M (real) Modeled valuation $448M (est)Series C2012+$8.5M+$8.5M+$2.0M+$60M+$14M+$14MCumulative $116M

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 A$9.0M · 2009
Series A extension$8.5M · 2009
Series A extension$8.5M · 2009
Series A extension$2.0M · 2009
Series C$60.0M · 2009no Series B on file
Series C extension$13.5M · 2011
Series C extension$14.3M · 2012

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$447.9M
Base estimate est.
$54.0M
Conservative case
$1.2B
Upside case
$95.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Series A · modeled $249.7M · 2009-05-192009Series A · modeled $235.8M · 2009-11-02Series A · modeled $235.8M · 2009-11-02Series A · modeled $55.5M · 2009-11-16Series C · modeled $1.9B · 2009-12-15Series C · modeled $424.3M · 2011-01-31Series C · modeled $447.9M · 2012-07-062012
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
76%
Survival probability
57% low · 88% high
1.35×/yr
Annual markup
1.55×/yr upside case
6.0 yr
Elapsed time used
14.0 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
6 mo
Avg between rounds
$34.2M/yr
Capital velocity
17.1 yr
On record since
2009
First round
7
Rounds on file
How it compares to the market

Benchmarked against 21302 companies in Other Technology. 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) 34× above median
This company$107.3M
Sector median$3.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.3× of median
This company$14.3M
Sector median$50.0M
Modeled value — vs sector median (estimate, all stages) 12× above median
This company$447.9M
Sector median$37.3M

Raised more than 97% of sector peers (real $). Modeled value above 91% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #56 of 61.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Workday, Inc. · Series C Raised $183.6M · modeled $3.1B (est)Electronic Arts Inc. · Series C Raised $97.3M · modeled $3.1B (est)Casa Systems Inc · Series C Raised $99.6M · modeled $3.0B (est)Auction.com, LLC · Series C Raised $91.7M · modeled $2.9B (est)Soraa Inc · Series C Raised $88.6M · modeled $2.8B (est)NanoInk, Inc · Series C Raised $388.0M · modeled $2.8B (est)Tumblr Inc · Series C Raised $115.0M · modeled $2.7B (est)WP Expedition Topco LLC · Series C Raised $82.4M · modeled $2.6B (est)Project Ruby Ultimate Parent Corp. · Series C Raised $81.7M · modeled $2.6B (est)Coaxis, Inc. · Series C Raised $76.0M · modeled $2.4B (est)Cologix Holdings, Inc. · Series C Raised $96.6M · modeled $2.4B (est)Internet Pipeline Inc · Series C Raised $83.1M · modeled $2.2B (est)Telecommunication Systems Inc /Fa/ (this company) Raised $107.3M · modeled $447.9M (est)Telecommunication Systems Inc /Fa/
CompanyStageRaised · realValue · estvs peer med.
Workday, Inc.Series C$183.6M$3.1B1.96×
Electronic Arts Inc.Series C$97.3M$3.1B1.93×
Casa Systems IncSeries C$99.6M$3.0B1.91×
Auction.com, LLCSeries C$91.7M$2.9B1.82×
Soraa IncSeries C$88.6M$2.8B1.76×
NanoInk, IncSeries C$388.0M$2.8B1.75×
Tumblr IncSeries C$115.0M$2.7B1.69×
WP Expedition Topco LLCSeries C$82.4M$2.6B1.64×
Project Ruby Ultimate Parent Corp.Series C$81.7M$2.6B1.62×
Coaxis, Inc.Series C$76.0M$2.4B1.51×
Cologix Holdings, Inc.Series C$96.6M$2.4B1.50×
Internet Pipeline IncSeries C$83.1M$2.2B1.42×
Telecommunication Systems Inc /Fa/ this companySeries C$107.3M$447.9M0.28×
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 A$9.0M2009-05-19$40.9M$249.7M90%
Series A$8.5M2009-11-02$38.6M$235.8M90%
Series A$8.5M2009-11-02$38.6M$235.8M90%
Series A$2.0M2009-11-16$9.1M$55.5M90%
Series C$60.0M2009-12-15$400.0M$1.9B90%
Series C$13.5M2011-01-31$90.0M$424.3M90%
Series C$14.3M2012-07-06$95.0M$447.9M90%
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 A$9.0M2009-05-19
    • First recorded raise — entered as Series A.
  2. Series A$8.5M2009-11-02
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
  3. Series A$8.5M2009-11-02
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  4. Series A$2.0M2009-11-16
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 4.3× smaller than the prior — bridge or down round.
  5. Series C$60.0M2009-12-15
    • Came back fast: 1 mo vs the ~13 mo sector norm.
    • Round 30.0× larger than the prior — scaling up.
  6. Series C$13.5M2011-01-31
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 4.4× smaller than the prior — bridge or down round.
  7. Series C$14.3M2012-07-06
    • Raised 17 mo later, in step with the ~13 mo sector norm.
    • Round roughly the size of the prior one.
Intelligence
2013 ~Q1
Modeled next raise · ~6mo cadence
$15.0M
Modeled next size est.range $14.3M$24.1M
1.1×
Last step-up
$34.2M/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
A. Reza Jafari1 other2011-01
Richard A. Young1 other2009-05
Clyde A. Heintzelman2009-05
Drew A. Morin2009-05
James M. Bethmann2009-05
Jan C. Huly2009-05
Jon B. Kutler2011-01
Maurice B. Tose2009-05
Maurice Tose2009-11
Richard A. Kozak2009-05
Thomas M. Brandt, Jr.2009-05
Timothy J. Lorello2009-05
Weldon H. Latham2009-05
Registry & provenance

Telecommunication Systems Inc /Fa/ 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
1111665
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.

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Wizeline, Inc.Other TechnologySeries C$98.3M$395.4Msame sector · same stage
Common Living Inc.Other TechnologySeries C$119.3M$439.2Msame sector · same stage
Turn IncOther TechnologySeries C$121.1M$432.5Msame sector · same stage
Plex, Inc.Other TechnologySeries C$121.7M$429.2Msame sector · same stage
Frequently asked
How much funding has Telecommunication Systems Inc /Fa/ raised?
Telecommunication Systems Inc /Fa/ has raised approximately $107.3M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Telecommunication Systems Inc /Fa/'s estimated valuation?
Provath's modeled valuation for Telecommunication Systems Inc /Fa/ is approximately $447.9M (modeled range $54.0M–$1.2B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Telecommunication Systems Inc /Fa/ at?
Telecommunication Systems Inc /Fa/'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Jul 06.
What does Telecommunication Systems Inc /Fa/ do and where is it based?
Telecommunication Systems Inc /Fa/ operates in the Other Technology sector, based in ANNAPOLIS.
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