Companies · Healthtech

Transparent Health Marketplace, Inc.

CONSHOHOCKEN · Healthtech · refined from filed group “Other Health Care

Diligence memoA one-page analyst read on Transparent Health Marketplace, Inc. — recommendation, valuation, rhythm, risks.
$57.8M
Total raised · real
7
Rounds
12.2×
Latest step-up
Top 9%
Sector rank · raised
Series B
Latest stage · inferred · Fri Mar 29 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Transparent Health Marketplace, Inc. looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the healthtech 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 0.33× the median modeled value of Series B Healthtech companies in 2022–2024 (98 peers) — value vs value, same stage and era.
Quiet
  • Last raise 2.3 yr ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector 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 Healthtech

Transparent Health Marketplace, Inc. is one of 2138 Healthtech companies tracked from CONSHOHOCKEN. By capital raised it ranks among the largest (ahead of 92% 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
11
Investors (latest)
2024-03-29
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$1.0BSeries A · 2016-08-17 Raised $5.0M (real) Modeled valuation $113M (est)Series A2016Seed · 2017-12-20 Raised $3.8M (real) Modeled valuation $105M (est)Seed2017Series A · 2017-12-20 Raised $6.1M (real) Modeled valuation $137M (est)Series A2017Seed · 2017-12-20 Raised $2.8M (real) Modeled valuation $77M (est)Seed2017Series A · 2019-11-05 Raised $6.3M (real) Modeled valuation $141M (est)Series A2019Series A · 2019-11-05 Raised $9.9M (real) Modeled valuation $224M (est)Series A2019Series A · 2020-10-28 Raised $15M (real) Modeled valuation $300M (est)Series A2020Series B · 2020-10-28 Raised $28M (real) Modeled valuation $615M (est)Series B2020Series B · 2023-02-23 Raised $1.3M (real) Modeled valuation $14M (est)Series B2023Seed · 2023-02-23 Raised $1.3M (real) Modeled valuation $11M (est)Seed2023Series B · 2023-05-09 Raised $600K (real) Modeled valuation $5.9M (est)Series B2023Series B · 2024-03-29 Raised $7.3M (real) Modeled valuation $54M (est)Series B2024Cumulative $87M

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$5.0M · 2016
Bridge · Series A-stage$3.8M · 2017smaller follow-on
Series A extension$6.1M · 2017
Bridge · Series A-stage$2.8M · 2017smaller follow-on
Series A extension$6.3M · 2019
Series A extension$9.9M · 2019
Series A extension$15.0M · 2020
Series B$27.6M · 2020
Series B extension$1.3M · 2023
Bridge · Series B-stage$1.3M · 2023smaller follow-on
Series B extension$600K · 2023
Series B extension$7.3M · 2024

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
$54.0M
Base estimate est.
$17.2M
Conservative case
$101.5M
Upside case
$40.6M
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 healthtech sector profile. Directional, not a quoted figure.

Series A · modeled $112.9M · 2016-08-172016Seed · modeled $105.1M · 2017-12-20Series A · modeled $136.9M · 2017-12-20Seed · modeled $77.4M · 2017-12-20Series A · modeled $141.4M · 2019-11-05Series A · modeled $224.4M · 2019-11-05Series A · modeled $299.6M · 2020-10-28Series B · modeled $615.4M · 2020-10-28Series B · modeled $13.9M · 2023-02-23Seed · modeled $11.2M · 2023-02-23Series B · modeled $5.9M · 2023-05-09Series B · modeled $54.0M · 2024-03-292024
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
64%
Survival probability
42% low · 78% high
1.38×/yr
Annual markup
1.67×/yr upside case
2.3 yr
Elapsed time used
2.3 yr actual, capped for stale marks
healthtech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
8 mo
Avg between rounds
$7.6M/yr
Capital velocity
9.9 yr
On record since
2016
First round
12
Rounds on file
How it compares to the market

Benchmarked against 2138 companies in Healthtech. 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) 13× above median
This company$57.8M
Sector median$4.5M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.4× of median
This company$7.3M
Sector median$18.3M
Modeled value — vs sector median (estimate, all stages) 1.6× above median
This company$54.0M
Sector median$33.8M

Raised more than 92% of sector peers (real $). Modeled value above 64% 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 #81 of 98.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Casana Care, Inc. · Series B Raised $56.4M · modeled $608.0M (est)Mendel Health Inc. · Series B Raised $52.7M · modeled $570.9M (est)Bicycle Health Inc. · Series B Raised $61.4M · modeled $492.6M (est)Brave Health, Inc. · Series B Raised $38.6M · modeled $485.7M (est)Flume Health, Inc. · Series B Raised $35.9M · modeled $446.0M (est)Healthy America, LLC · Series B Raised $31.0M · modeled $435.9M (est)Moxe Health Corp · Series B Raised $34.8M · modeled $404.2M (est)Kintsugi Mindful Wellness, Inc. · Series B Raised $25.0M · modeled $370.4M (est)Invoq Health, Inc. · Series B Raised $41.5M · modeled $362.5M (est)Folx Health, Inc. · Series B Raised $59.3M · modeled $355.7M (est)Recuro Health, Inc. · Series B Raised $44.2M · modeled $340.0M (est)Orchard Healthcare, Inc. · Series B Raised $34.8M · modeled $338.9M (est)Transparent Health Marketplace, Inc. (this company) Raised $57.8M · modeled $54.0M (est)Transparent Health Marketplace, Inc.
CompanyStageRaised · realValue · estvs peer med.
Casana Care, Inc.Series B$56.4M$608.0M3.68×
Mendel Health Inc.Series B$52.7M$570.9M3.45×
Bicycle Health Inc.Series B$61.4M$492.6M2.98×
Brave Health, Inc.Series B$38.6M$485.7M2.94×
Flume Health, Inc.Series B$35.9M$446.0M2.70×
Healthy America, LLCSeries B$31.0M$435.9M2.64×
Moxe Health CorpSeries B$34.8M$404.2M2.45×
Kintsugi Mindful Wellness, Inc.Series B$25.0M$370.4M2.24×
Invoq Health, Inc.Series B$41.5M$362.5M2.19×
Folx Health, Inc.Series B$59.3M$355.7M2.15×
Recuro Health, Inc.Series B$44.2M$340.0M2.06×
Orchard Healthcare, Inc.Series B$34.8M$338.9M2.05×
Transparent Health Marketplace, Inc. this companySeries B$57.8M$54.0M0.33×
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$5.0M2016-08-17$22.7M$112.9M85%
Seed$3.8M2017-12-20$18.9M$105.1M90%
Series A$6.1M2017-12-20$27.6M$136.9M90%
Seed$2.8M2017-12-20$13.9M$77.4M90%
Series A$6.3M2019-11-05$28.5M$141.4M90%
Series A$9.9M2019-11-05$45.2M$224.4M90%
Series A$15.0M2020-10-28$68.2M$299.6M90%
Series B$27.6M2020-10-28$153.2M$615.4M90%
Series B$1.3M2023-02-23$7.3M$13.9M90%
Seed$1.3M2023-02-23$6.6M$11.2M90%
Series B$600K2023-05-09$3.3M$5.9M90%
Series B$7.3M2024-03-29$40.6M$54.0M90%
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$5.0M2016-08-17
    • First recorded raise — entered as Series A.
  2. Seed$3.8M2017-12-20
    • Raised 16 mo later, in step with the ~14 mo sector norm.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 21 investors on this round.
  3. Series A$6.1M2017-12-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× larger than the prior — scaling up.
    • 23 investors on this round.
  4. Seed$2.8M2017-12-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.2× smaller than the prior — bridge or down round.
    • 21 investors on this round.
  5. Series A$6.3M2019-11-05
    • Raised again after 23 mo — slower than the ~14 mo sector norm.
    • Round 2.2× larger than the prior — scaling up.
    • 17 investors on this round.
  6. Series A$9.9M2019-11-05
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× larger than the prior — scaling up.
    • 36 investors on this round.
  7. Series A$15.0M2020-10-28
    • Raised 12 mo later, in step with the ~14 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 2 investors on this round.
  8. Series B$27.6M2020-10-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.8× larger than the prior — scaling up.
    • 28 investors on this round.
  9. Series B$1.3M2023-02-23
    • Raised again after 28 mo — slower than the ~14 mo sector norm.
    • Round 20.9× smaller than the prior — bridge or down round.
    • 11 investors on this round.
  10. Seed$1.3M2023-02-23
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
  11. Series B$600K2023-05-09
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round 2.2× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  12. Series B$7.3M2024-03-29
    • Raised 11 mo later, in step with the ~14 mo sector norm.
    • Round 12.2× larger than the prior — scaling up.
    • 11 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~8mo cadence
$21.9M
Modeled next size est.range $14.3M$35.1M
12.2×
Last step-up
$7.6M/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
David Klein9 other2019-11
Stuart Peterson6 other2020-10
Gerald Ostrov2 other2019-11
Carl Smith1 other2020-10
Kim Tzoumakas1 other2020-10
Alexander Bryan Fraser2016-08
Alexander R. Fraser2017-12
Charles Bryan Middleton2016-08
David Bryan Saloff2016-08
Edward Bryan Hammel2016-08
Eric R. Hanson2016-08
G. Bryan Thomas2016-08
Gerald R. Ostrov2017-12
Ian McBane2019-11
Ian R. McBane2017-12
James Mayhall2019-11
Jason Beans2019-11
Jason R. Beans2017-12
Jonathan Palmer2019-11
Jonathan R. Palmer2017-12
Kelly Bryan McCrann2016-08
Kimberly Tzoumakas2024-03
Louis DiGiovine2023-02
Matthew Padden2023-05
Registry & provenance

Transparent Health Marketplace, 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
1683294
SEC CIK
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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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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
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Visible Health Inc.HealthtechSeries A$27.6M84%
Clarify Medical, Inc.HealthtechSeries C$776.1M84%
Clear Health Pass Holdings LLCHealthtechSeries C$1.8B83%
Clarify Health Solutions, Inc.HealthtechSeries D+$2.9B83%
True Health Inc.HealthtechSeries A$181.7M83%
Relatable Healthcare Inc.HealthtechSeed$41.6M83%
Frequently asked
How much funding has Transparent Health Marketplace, Inc. raised?
Transparent Health Marketplace, Inc. has raised approximately $57.8M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Transparent Health Marketplace, Inc.'s estimated valuation?
Provath's modeled valuation for Transparent Health Marketplace, Inc. is approximately $54.0M (modeled range $17.2M–$101.5M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Transparent Health Marketplace, Inc. at?
Transparent Health Marketplace, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Mar 29.
What does Transparent Health Marketplace, Inc. do and where is it based?
Transparent Health Marketplace, Inc. operates in the Healthtech sector, based in CONSHOHOCKEN.
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