Companies · Biotechnology

Theranos Inc

PALO ALTO · Biotechnology

Diligence memoA one-page analyst read on Theranos Inc — recommendation, valuation, rhythm, risks.
$627.2M
Total raised · real
2
Rounds
12.9×
Latest step-up
Top 1%
Sector rank · raised
Growth/Late
Latest stage · inferred · Mon May 15 2017 00:00:00 GMT+0000 (Coordinated Universal Time)

Theranos Inc has raised $627M over 2 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 biotech 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 9.1 yr ago; this sector typically re-raises about every 14 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 Biotechnology

Theranos Inc is one of 4293 Biotechnology companies tracked from PALO ALTO. By capital raised it ranks among the largest (ahead of 100% 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
34
Investors (latest)
2017-05-15
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$12.5B$25.0B$37.5B$50.0BSeries C · 2010-07-01 Raised $45M (real) Modeled valuation $1.8B (est)$45M$1.8BSeries C2010Growth/Late · 2017-05-15 Raised $582M (real) Modeled valuation $24.7B (est)$582M$24.7BGrowth/Late2017+$582MCumulative $627M

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$45.0M · 2010
Growth/Late$582.2M · 2017no Series D+ on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series D+ — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 29%.

Modeled valuation trajectory
$24.7B
Base estimate est.
$3.6B
Conservative case
$44.5B
Upside case
$5.8B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series C · modeled $1.8B · 2010-07-012010Growth/Late · modeled $24.7B · 2017-05-152017
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
72%
Survival probability
62% low · 78% high
1.34×/yr
Annual markup
1.46×/yr upside case
6.0 yr
Elapsed time used
9.1 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
82 mo
Avg between rounds
$91.3M/yr
Capital velocity
16.0 yr
On record since
2010
First round
2
Rounds on file
How it compares to the market

Benchmarked against 4293 companies in Biotechnology. 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) 87× above median
This company$627.2M
Sector median$7.2M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 1.4× above median
This company$582.2M
Sector median$403.1M
Modeled value — vs sector median (estimate, all stages) 385× above median
This company$24.7B
Sector median$64.2M

Raised more than 100% of sector peers (real $). Modeled value above 100% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) 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
$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Moderna Therapeutics, Inc. · Growth/Late Raised $451.4M · modeled $19.2B (est)Allogene Therapeutics, Inc. · Growth/Late Raised $411.8M · modeled $17.5B (est)Juno Therapeutics, Inc. · Growth/Late Raised $1.1B · modeled $1.3B (est)Theranos Inc (this company) Raised $627.2M · modeled $24.7B (est)Theranos Inc
CompanyStageRaised · realValue · estvs peer med.
Theranos Inc this companyGrowth/Late$627.2M$24.7B1.35×
Moderna Therapeutics, Inc.Growth/Late$451.4M$19.2B1.05×
Allogene Therapeutics, Inc.Growth/Late$411.8M$17.5B0.95×
Juno Therapeutics, Inc.Growth/Late$1.1B$1.3B0.07×
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$45.0M2010-07-01$300.0M$1.8B85%
Growth/Late$582.2M2017-05-15$5.8B$24.7B90%
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$45.0M2010-07-01
    • First recorded raise — entered as Series C.
    • 1 investor on this round.
  2. Growth/Late$582.2M2017-05-15
    • Raised again after 82 mo — slower than the ~14 mo sector norm.
    • Round 12.9× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 34 investors on this round.
Intelligence
2024 ~Q1
Modeled next raise · ~82mo cadence
$1.7B
Modeled next size est.range $1.1B$2.8B
12.9×
Last step-up
$91.3M/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
Donald L Lucas1 other2010-07
Channing L Robertson2010-07
Daniel Anne Warmenhoven2017-05
Elizabeth Anne Holmes2017-05
Elizabeth Holmes2010-07
Fabrizio Anne Bonanni2017-05
Ramesh L Balwani2010-07
Robert L Shapiro2010-07
T. Peter L Thomas2010-07
William Anne Foege2017-05
Registry & provenance

Theranos 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
1313697
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
ImmunityBio, Inc.BiotechnologyGrowth/Late$640.1M$7.8Bsame sector · same stage
Inhibrx, Inc.BiotechnologyGrowth/Late$668.6M$3.3Bsame sector · same stage
Avidity Biosciences, Inc.BiotechnologyGrowth/Late$527.8M$5.7Bsame sector · same stage
National Resilience, Inc.BiotechnologyGrowth/Late$755.0M$29.2Bsame sector · same stage
Denali Therapeutics Inc.BiotechnologyGrowth/Late$499.7M$7.2Bsame sector · same stage
Neumora Therapeutics, Inc.BiotechnologyGrowth/Late$474.4M$19.0Bsame sector · same stage
Sana Biotechnology, Inc.BiotechnologyGrowth/Late$866.9M$34.8Bsame sector · same stage
Moderna Therapeutics, Inc.BiotechnologyGrowth/Late$451.4M$19.2Bsame 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
PD Theranostics, Inc.BiotechnologyPre-Seed$5.6M91%
BioSymetrics, Inc.BiotechnologySeries A$105.8M85%
TheRas, Inc.BiotechnologySeries D+$2.3B85%
TheraPten Biosciences Inc.BiotechnologySeed$66.6M84%
Theralink Technologies, Inc.BiotechnologySeed$39.7M84%
OS Therapies IncBiotechnologySeries A$4.7M84%
BioRestorative Therapies, Inc.BiotechnologySeries A$4.0M83%
Peptilogics, Inc.BiotechnologySeries B$1.2B83%
Frequently asked
How much funding has Theranos Inc raised?
Theranos Inc has raised approximately $627.2M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Theranos Inc's estimated valuation?
Provath's modeled valuation for Theranos Inc is approximately $24.7B (modeled range $3.6B–$44.5B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Theranos Inc at?
Theranos Inc's latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Mon May 15.
What does Theranos Inc do and where is it based?
Theranos Inc operates in the Biotechnology sector, based in PALO ALTO.
Explore related

See where Theranos 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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