Companies · Healthtech

Trice Medical, Inc.

LAKE FOREST · Healthtech · refined from filed group “Other Health Care

Diligence memoA one-page analyst read on Trice Medical, Inc. — recommendation, valuation, rhythm, risks.
$124.2M
Total raised · real
10
Rounds
1.4×
Latest step-up
Top 5%
Sector rank · raised
Series C
Latest stage · inferred · Fri Jul 21 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Trice Medical, Inc. looks under-valued 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 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 0.24× the median modeled value of Series C Healthtech companies in 2022–2024 (39 peers) — value vs value, same stage and era.
At-risk
  • Last raise 2.9 yr ago; this sector typically re-raises about every 14 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 Healthtech

Trice Medical, Inc. is one of 2138 Healthtech companies tracked from LAKE FOREST. By capital raised it ranks among the largest (ahead of 96% of sector peers), and in the upper tier 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
2
Investors (latest)
2023-07-21
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$500M$1.0B$1.5B$2.0BSeed · 2012-02-07 Raised $2.2M (real) Modeled valuation $60M (est)Seed2012Seed · 2012-02-07 Raised $1.9M (real) Modeled valuation $51M (est)Seed2012Seed · 2013-08-30 Raised $675K (real) Modeled valuation $19M (est)Seed2013Series A · 2014-07-10 Raised $5.6M (real) Modeled valuation $127M (est)Series A2014Series B · 2014-07-10 Raised $18M (real) Modeled valuation $448M (est)Series B2014Series B · 2016-12-13 Raised $5.0M (real) Modeled valuation $124M (est)Series B2016Series B · 2017-05-25 Raised $19M (real) Modeled valuation $477M (est)Series B2017Series C · 2017-05-25 Raised $41M (real) Modeled valuation $1.0B (est)Series C2017Series C · 2020-03-06 Raised $2.1M (real) Modeled valuation $54M (est)Series C2020Series C · 2021-03-30 Raised $10M (real) Modeled valuation $213M (est)Series C2021Series C · 2021-08-23 Raised $28M (real) Modeled valuation $514M (est)Series C2021Series C · 2022-10-15 Raised $7.3M (real) Modeled valuation $99M (est)Series C2022Series C · 2023-07-21 Raised $11M (real) Modeled valuation $116M (est)Series C2023Cumulative $151M

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$2.2M · 2012
Seed extension$1.9M · 2012
Seed extension$675K · 2013
Series A$5.6M · 2014
Series B$18.1M · 2014
Series B extension$5.0M · 2016
Series B extension$19.3M · 2017
Series C$40.6M · 2017
Series C extension$2.1M · 2020
Series C extension$10.2M · 2021
Series C extension$27.6M · 2021
Series C extension$7.3M · 2022
Series C extension$10.5M · 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: 80%.

Modeled valuation trajectory
$115.7M
Base estimate est.
$38.2M
Conservative case
$200.2M
Upside case
$70.0M
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 healthtech sector profile. Directional, not a quoted figure.

Seed · modeled $59.7M · 2012-02-072012Seed · modeled $51.3M · 2012-02-07Seed · modeled $18.7M · 2013-08-30Series A · modeled $126.6M · 2014-07-10Series B · modeled $448.5M · 2014-07-10Series B · modeled $123.9M · 2016-12-13Series B · modeled $477.5M · 2017-05-25Series C · modeled $1.0B · 2017-05-25Series C · modeled $54.3M · 2020-03-06Series C · modeled $212.9M · 2021-03-30Series C · modeled $513.7M · 2021-08-23Series C · modeled $99.2M · 2022-10-15Series C · modeled $115.7M · 2023-07-212023
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
73%
Survival probability
55% low · 85% high
1.32×/yr
Annual markup
1.51×/yr upside case
3.0 yr
Elapsed time used
3.0 yr actual, capped for stale marks
healthtech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$10.8M/yr
Capital velocity
14.4 yr
On record since
2012
First round
13
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) 28× above median
This company$124.2M
Sector median$4.5M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.2× of median
This company$10.5M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 3.4× above median
This company$115.7M
Sector median$33.8M

Raised more than 96% of sector peers (real $). Modeled value above 80% 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 #35 of 39.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Freedom Dental Funding, LLC · Series C Raised $100.0M · modeled $1.1B (est)Elevate Care International Topco LP · Series C Raised $98.4M · modeled $1.0B (est)Athelas Inc. · Series C Raised $54.4M · modeled $902.7M (est)Hazel Health, Inc. · Series C Raised $86.0M · modeled $817.0M (est)Health Gorilla, Inc. · Series C Raised $58.7M · modeled $815.7M (est)Employee Health Holdings, LP · Series C Raised $78.8M · modeled $779.1M (est)Magnolia Medical Technologies, Inc. · Series C Raised $94.2M · modeled $727.7M (est)Allied Health MSO Holdco, LLC · Series C Raised $62.8M · modeled $724.3M (est)Pearl Health, Inc. · Series C Raised $55.5M · modeled $721.3M (est)Veridian Healthcare Holdings LLC · Series C Raised $63.0M · modeled $692.0M (est)Accompany Health, Inc. · Series C Raised $56.3M · modeled $680.1M (est)Alleviant Medical, Inc. · Series C Raised $148.8M · modeled $676.9M (est)Trice Medical, Inc. (this company) Raised $124.2M · modeled $115.7M (est)Trice Medical, Inc.
CompanyStageRaised · realValue · estvs peer med.
Freedom Dental Funding, LLCSeries C$100.0M$1.1B2.33×
Elevate Care International Topco LPSeries C$98.4M$1.0B2.07×
Athelas Inc.Series C$54.4M$902.7M1.86×
Hazel Health, Inc.Series C$86.0M$817.0M1.68×
Health Gorilla, Inc.Series C$58.7M$815.7M1.68×
Employee Health Holdings, LPSeries C$78.8M$779.1M1.60×
Magnolia Medical Technologies, Inc.Series C$94.2M$727.7M1.50×
Allied Health MSO Holdco, LLCSeries C$62.8M$724.3M1.49×
Pearl Health, Inc.Series C$55.5M$721.3M1.48×
Veridian Healthcare Holdings LLCSeries C$63.0M$692.0M1.42×
Accompany Health, Inc.Series C$56.3M$680.1M1.40×
Alleviant Medical, Inc.Series C$148.8M$676.9M1.39×
Trice Medical, Inc. this companySeries C$124.2M$115.7M0.24×
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$2.2M2012-02-07$10.8M$59.7M85%
Seed$1.9M2012-02-07$9.3M$51.3M85%
Seed$675K2013-08-30$3.4M$18.7M85%
Series A$5.6M2014-07-10$25.5M$126.6M85%
Series B$18.1M2014-07-10$100.5M$448.5M85%
Series B$5.0M2016-12-13$27.8M$123.9M90%
Series B$19.3M2017-05-25$107.0M$477.5M90%
Series C$40.6M2017-05-25$270.5M$1.0B90%
Series C$2.1M2020-03-06$14.1M$54.3M90%
Series C$10.2M2021-03-30$68.2M$212.9M90%
Series C$27.6M2021-08-23$183.7M$513.7M90%
Series C$7.3M2022-10-15$48.6M$99.2M90%
Series C$10.5M2023-07-21$70.0M$115.7M90%
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$2.2M2012-02-07
    • First recorded raise — entered as Seed.
    • 7 investors on this round.
  2. Seed$1.9M2012-02-07
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 5 investors on this round.
  3. Seed$675K2013-08-30
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 2.7× smaller than the prior — bridge or down round.
    • Switched to Rule 06 (was Rule 505).
    • 1 investor on this round.
  4. Series A$5.6M2014-07-10
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 8.3× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 29 investors on this round.
  5. Series B$18.1M2014-07-10
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.2× larger than the prior — scaling up.
    • 30 investors on this round.
  6. Series B$5.0M2016-12-13
    • Raised again after 29 mo — slower than the ~14 mo sector norm.
    • Round 3.6× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  7. Series B$19.3M2017-05-25
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 3.9× larger than the prior — scaling up.
    • 44 investors on this round.
  8. Series C$40.6M2017-05-25
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.1× larger than the prior — scaling up.
    • 47 investors on this round.
  9. Series C$2.1M2020-03-06
    • Raised again after 33 mo — slower than the ~14 mo sector norm.
    • Round 19.1× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  10. Series C$10.2M2021-03-30
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 4.8× larger than the prior — scaling up.
    • 22 investors on this round.
  11. Series C$27.6M2021-08-23
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 2.7× larger than the prior — scaling up.
    • 39 investors on this round.
  12. Series C$7.3M2022-10-15
    • Raised 14 mo later, in step with the ~14 mo sector norm.
    • Round 3.8× smaller than the prior — bridge or down round.
    • 209 investors on this round.
  13. Series C$10.5M2023-07-21
    • Raised 9 mo later, in step with the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 2 investors on this round.
Intelligence
2024 ~Q3
Modeled next raise · ~11mo cadence
$15.1M
Modeled next size est.range $10.5M$24.2M
1.4×
Last step-up
$10.8M/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
Garheng Kong15 other2014-07
Gary Kurtzman7 other2014-07
Jeffrey O'Donnell6 other2012-02
Mark Foster5 other2020-03
Jeffrey F. O'Donnell, Sr.4 other2017-05
Randy Scott4 other2020-03
William A Hawkins3 other2016-12
Jeffrey F. O'Donnell2 other2016-12
Michael Steen2 other2023-07
Richard Kienzle2 other2012-02
Alan Davis1 other2012-02
Craig Carra1 other2014-07
Craig K. Carra1 other2020-03
ERIC C. SALZMAN1 other2022-10
Garheng A. Kong1 other2016-12
NIMESH SHAH1 other2023-07
Randy A. Scott1 other2017-05
Richard Washburn1 other2013-08
William Rhoda1 other2012-02
Alan F. Davis2017-05
CHAD NORMAN2023-07
CHRIS C. YAMAMOTO2022-10
Chris Yamamoto2021-08
Craig A. Carra2017-05
Registry & provenance

Trice Medical, 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
1542869
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
Ajax Health II LLCHealthtechSeries C$51.0M$1.3Bnetwork1 shared operator · same sector · same stage
Aerwave Medical, Inc.HealthtechSeed$5.5M$45.1Mnetwork2 shared operators · same sector
Nomad Health, Inc.HealthtechSeries B$106.9M$153.0Mnetwork1 shared operator · same sector
Lungpacer Medical, Inc.HealthtechSeries C$121.4M$69.7Msame sector · same stage
Hopscotch Health Holdings, LlcHealthtechSeries C$110.0M$101.8Msame sector · same stage
Convergent Dental, Inc.HealthtechSeries C$99.1M$119.7Msame sector · same stage
Wellvana Health, LLCHealthtechSeries C$161.2M$154.3Msame sector · same stage
Prognos Health Inc.HealthtechSeries B$63.4M$235.0Mnetwork1 shared operator · same sector
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
Trifecta Medical, LLCHealthtechPre-Seed$3.4M89%
Tri-Medics, LLCOther Health CarePre-Seed$7.7M89%
Trivascular Health, LLCHealthtechSeed$83.2M88%
TriAgenics, IncOther Health CareSeed$1.6M86%
Third Eye Health, Inc.HealthtechSeries A$40.8M85%
Trice Technologies Inc.Software / TechSeed$26.0M85%
Trilliant Health, Inc.HealthtechSeries A$285.9M84%
HealthEC, LLCHealthtechSeries A$33.3M84%
Frequently asked
How much funding has Trice Medical, Inc. raised?
Trice Medical, Inc. has raised approximately $124.2M in disclosed capital across 10 recorded financing rounds, aggregated from public filings.
What is Trice Medical, Inc.'s estimated valuation?
Provath's modeled valuation for Trice Medical, Inc. is approximately $115.7M (modeled range $38.2M–$200.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Trice Medical, Inc. at?
Trice Medical, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Jul 21.
What does Trice Medical, Inc. do and where is it based?
Trice Medical, Inc. operates in the Healthtech sector, based in LAKE FOREST.
Explore related

See where Trice Medical, 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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