Companies · Other Health Care

TransMedics, Inc.

ANDOVER · Other Health Care

Diligence memoA one-page analyst read on TransMedics, Inc. — recommendation, valuation, rhythm, risks.
$249.0M
Total raised · real
10
Rounds
0.8×
Latest step-up
Top 2%
Sector rank · raised
Series C
Latest stage · inferred · Thu May 12 2016 00:00:00 GMT+0000 (Coordinated Universal Time)

TransMedics, Inc. 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 health care 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 1.40× the median modeled value of Series C Other Health Care companies in 2016–2018 (40 peers) — value vs value, same stage and era.
  • Within the normal band (140% of peer median) for its niche.
Dormant
  • Last raise 10.1 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 Other Health Care

TransMedics, Inc. is one of 5376 Other Health Care companies tracked from ANDOVER. By capital raised it ranks among the largest (ahead of 99% 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 C · Raised $30M (real) Modeled valuation $146M (est)Series CSeed · 2009-07-06 Raised $2.5M (real) Modeled valuation $62M (est)Seed2009Seed · 2009-11-25 Raised $3.6M (real) Modeled valuation $89M (est)Seed2009Series B · 2010-02-17 Raised $35M (real) Modeled valuation $785M (est)Series B2010Series B · 2011-08-05 Raised $5.9M (real) Modeled valuation $131M (est)Series B2011Series B · 2012-11-07 Raised $36M (real) Modeled valuation $801M (est)Series B2012Series B · 2015-05-29 Raised $20M (real) Modeled valuation $443M (est)Series B2015Series B · 2015-09-11 Raised $500K (real) Modeled valuation $11M (est)Series B2015Series C · 2016-05-12 Raised $64M (real) Modeled valuation $1.5B (est)Series C2016Series C · 2016-05-12 Raised $51M (real) Modeled valuation $1.2B (est)Series C2016+$2.5M+$3.6M+$35M+$5.9M+$36M+$20M+$500K+$64M+$51MCumulative $249M

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$30.0M
Bridge · Series C-stage$2.5M · 2009smaller follow-on
Bridge · Series C-stage$3.6M · 2009smaller follow-on
Bridge · Series C-stage$35.4M · 2010smaller follow-on
Bridge · Series C-stage$5.9M · 2011smaller follow-on
Bridge · Series C-stage$36.1M · 2012smaller follow-on
Bridge · Series C-stage$20.0M · 2015smaller follow-on
Bridge · Series C-stage$500K · 2015smaller follow-on
Series C extension$63.7M · 2016
Series C extension$51.2M · 2016

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$1.5B
Base estimate est.
$231.6M
Conservative case
$3.8B
Upside case
$424.9M
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 health care sector profile. Directional, not a quoted figure.

Series C · modeled $146.5M · Seed · modeled $62.0M · 2009-07-06Seed · modeled $88.6M · 2009-11-25Series B · modeled $784.6M · 2010-02-17Series B · modeled $131.2M · 2011-08-05Series B · modeled $800.9M · 2012-11-07Series B · modeled $443.2M · 2015-05-29Series B · modeled $11.1M · 2015-09-11Series C · modeled $1.5B · 2016-05-12Series C · modeled $1.2B · 2016-05-122016
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
73%
Survival probability
55% low · 85% high
1.29×/yr
Annual markup
1.48×/yr upside case
6.0 yr
Elapsed time used
10.1 yr actual, capped for stale marks
health care
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
62 mo
Avg between rounds
$5.4M/yr
Capital velocity
56.5 yr
On record since
1970
First round
10
Rounds on file
How it compares to the market

Benchmarked against 5376 companies in Other Health Care. 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) 102× above median
This company$249.0M
Sector median$2.4M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.1× above median
This company$51.2M
Sector median$45.9M
Modeled value — vs sector median (estimate, all stages) 66× above median
This company$1.5B
Sector median$22.1M

Raised more than 99% of sector peers (real $). Modeled value above 98% 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 #8 of 40.

This companyCohort peer
$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Specialty Networks, LLC · Series C Raised $94.5M · modeled $2.2B (est)New MMI Holdings, Inc. · Series C Raised $80.7M · modeled $1.8B (est)BioMatrix Holdings, L.L.C. · Series C Raised $80.0M · modeled $1.8B (est)Sea Hunter Holdings, LLC · Series C Raised $76.3M · modeled $1.7B (est)Bind Benefits, Inc. · Series C Raised $70.0M · modeled $1.6B (est)Endotronix Inc · Series C Raised $116.1M · modeled $1.6B (est)Great Basin Scientific, Inc. · Series C Raised $124.3M · modeled $1.6B (est)Landmark Health, LLC · Series C Raised $90.8M · modeled $1.4B (est)Rapid Micro Biosystems, Inc. · Series C Raised $134.6M · modeled $1.4B (est)Mdp Acm Holdings, Llc · Series C Raised $60.0M · modeled $1.4B (est)ACON BioMatrix Investors I, L.L.C. · Series C Raised $57.5M · modeled $1.3B (est)TransMedics, Inc. (this company) Raised $249.0M · modeled $1.5B (est)TransMedics, Inc.
CompanyStageRaised · realValue · estvs peer med.
Specialty Networks, LLCSeries C$94.5M$2.2B2.08×
New MMI Holdings, Inc.Series C$80.7M$1.8B1.77×
BioMatrix Holdings, L.L.C.Series C$80.0M$1.8B1.76×
Sea Hunter Holdings, LLCSeries C$76.3M$1.7B1.68×
Bind Benefits, Inc.Series C$70.0M$1.6B1.54×
Endotronix IncSeries C$116.1M$1.6B1.52×
Great Basin Scientific, Inc.Series C$124.3M$1.6B1.49×
TransMedics, Inc. this companySeries C$249.0M$1.5B1.40×
Landmark Health, LLCSeries C$90.8M$1.4B1.34×
Rapid Micro Biosystems, Inc.Series C$134.6M$1.4B1.32×
Mdp Acm Holdings, LlcSeries C$60.0M$1.4B1.32×
ACON BioMatrix Investors I, L.L.C.Series C$57.5M$1.3B1.26×
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$2.5M2009-07-06$12.5M$62.0M90%
Seed$3.6M2009-11-25$17.9M$88.6M90%
Series B$35.4M2010-02-17$196.7M$784.6M90%
Series B$5.9M2011-08-05$32.9M$131.2M90%
Series B$36.1M2012-11-07$200.8M$800.9M90%
Series B$20.0M2015-05-29$111.1M$443.2M90%
Series B$500K2015-09-11$2.8M$11.1M90%
Series C$63.7M2016-05-12$424.9M$1.5B90%
Series C$51.2M2016-05-12$341.5M$1.2B90%
Series C$30.0M$199.8M$146.5M90%
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$2.5M2009-07-06
    • First recorded raise — entered as Seed.
  2. Seed$3.6M2009-11-25
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
  3. Series B$35.4M2010-02-17
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 9.9× larger than the prior — scaling up.
  4. Series B$5.9M2011-08-05
    • Raised 18 mo later, in step with the ~14 mo sector norm.
    • Round 6.0× smaller than the prior — bridge or down round.
  5. Series B$36.1M2012-11-07
    • Raised 15 mo later, in step with the ~14 mo sector norm.
    • Round 6.1× larger than the prior — scaling up.
  6. Series B$20.0M2015-05-29
    • Raised again after 31 mo — slower than the ~14 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
  7. Series B$500K2015-09-11
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 40.0× smaller than the prior — bridge or down round.
  8. Series C$63.7M2016-05-12
    • Came back fast: 8 mo vs the ~14 mo sector norm.
    • Round 127.5× larger than the prior — scaling up.
  9. Series C$51.2M2016-05-12
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
Intelligence
2021 ~Q3
Modeled next raise · ~62mo cadence
$51.2M
Modeled next size est.range $51.2M$82.0M
0.8×
Last step-up
$5.4M/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
James R. Tobin5 other2015-05
Earl M. Collier, Jr.3 other2015-05
Edwin M. Kania, Jr.3 other2009-07
Earl M Collier2 other2011-08
J. Neal Armstrong2 other2009-07
Kenneth M. Bate2 other2011-08
Frederick R. Blume1 other2009-07
John K. Giannuzzi1 other2009-07
Joseph S. Lacob1 other2015-05
Adam M. Grosser2010-02
Allan R. Ferguson2009-07
David Lee Abram2012-11
David Lee Abrams2015-05
David R. Abrams2016-05
Dmitry R. Kobyzev2016-05
Domenic Lee Micale2012-11
Domenic M. Micale2011-08
Edward R. Basile2016-05
James M. Tobin2011-08
James R. Gilbert2016-05
James V. Rao2009-07
Joseph M. Lacob2010-02
Magdi H. Yacoub2009-07
Michael P. Stansky2009-07
Registry & provenance

TransMedics, 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
1092287
SEC CIK
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Frequently asked
How much funding has TransMedics, Inc. raised?
TransMedics, Inc. has raised approximately $249.0M in disclosed capital across 10 recorded financing rounds, aggregated from public filings.
What is TransMedics, Inc.'s estimated valuation?
Provath's modeled valuation for TransMedics, Inc. is approximately $1.5B (modeled range $231.6M–$3.8B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is TransMedics, Inc. at?
TransMedics, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Thu May 12.
What does TransMedics, Inc. do and where is it based?
TransMedics, Inc. operates in the Other Health Care sector, based in ANDOVER.
Explore related

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