Companies · Other Technology

Underline Infrastructure Inc.

NEW YORK · Other Technology

Diligence memoA one-page analyst read on Underline Infrastructure Inc. — recommendation, valuation, rhythm, risks.
$18.6M
Total raised · real
4
Rounds
1.0×
Latest step-up
Top 19%
Sector rank · raised
Series A
Latest stage · inferred · Tue Aug 09 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Underline Infrastructure Inc. looks over-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 technology sector profile.

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

Over-valued
  • Modeled value is 1.76× the median modeled value of Series A Other Technology companies in 2022–2024 (1325 peers) — value vs value, same stage and era.
At-risk
  • Last raise 3.9 yr ago; this sector typically re-raises about every 13 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 Other Technology

Underline Infrastructure Inc. is one of 21302 Other Technology companies tracked from NEW YORK. By capital raised it ranks in the upper tier (ahead of 82% 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
6
Investors (latest)
2019
Year incorporated
2022-08-09
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$50M$100M$150M$200MSeed · 2019-12-10 Raised $3.2M (real) Modeled valuation $110M (est)$3.2M$110MSeed2019Seed · 2020-04-27 Raised $500K (real) Modeled valuation $17M (est)$500K$17MSeed2020Series A · 2022-03-01 Raised $7.4M (real) Modeled valuation $104M (est)$7.4M$104MSeries A2022Series A · 2022-08-09 Raised $7.5M (real) Modeled valuation $88M (est)$7.5M$88MSeries A2022+$500K+$7.4M+$7.5MCumulative $19M

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$3.2M · 2019
Seed extension$500K · 2020
Series A$7.4M · 2022
Series A extension$7.5M · 2022

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: 67%.

Modeled valuation trajectory
$88.4M
Base estimate est.
$10.0M
Conservative case
$295.8M
Upside case
$33.9M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $110.4M · 2019-12-102019Seed · modeled $17.0M · 2020-04-27Series A · modeled $104.4M · 2022-03-01Series A · modeled $88.4M · 2022-08-092022
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
29% low · 74% high
1.50×/yr
Annual markup
1.89×/yr upside case
3.9 yr
Elapsed time used
3.9 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$7.0M/yr
Capital velocity
6.6 yr
On record since
2019
First round
4
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) 5.8× above median
This company$18.6M
Sector median$3.2M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.3× above median
This company$7.5M
Sector median$5.8M
Modeled value — vs sector median (estimate, all stages) 2.4× above median
This company$88.4M
Sector median$37.3M

Raised more than 82% of sector peers (real $). Modeled value above 69% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) 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 #265 of 1,325.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Phylum, Inc. · Series A Raised $15.0M · modeled $222.5M (est)Keon Foundation Ltd. · Series A Raised $15.0M · modeled $212.1M (est)Remoteam Inc. · Series A Raised $14.3M · modeled $209.7M (est)MultiSafe, Inc. · Series A Raised $17.3M · modeled $208.8M (est)Careerian Inc. · Series A Raised $20.3M · modeled $204.1M (est)Continu Inc. · Series A Raised $13.5M · modeled $202.7M (est)Devron Corp · Series A Raised $16.8M · modeled $201.7M (est)RISC Zero, Inc. · Series A Raised $14.4M · modeled $199.8M (est)Pentagon Port LLC · Series A Raised $15.0M · modeled $198.9M (est)Amnic Inc. · Series A Raised $14.0M · modeled $198.4M (est)Intensivate Inc · Series A Raised $14.7M · modeled $190.5M (est)Ws Holdco, Pbc · Series A Raised $14.8M · modeled $188.4M (est)Underline Infrastructure Inc. (this company) Raised $18.6M · modeled $88.4M (est)Underline Infrastructure Inc.
CompanyStageRaised · realValue · estvs peer med.
Phylum, Inc.Series A$15.0M$222.5M4.42×
Keon Foundation Ltd.Series A$15.0M$212.1M4.22×
Remoteam Inc.Series A$14.3M$209.7M4.17×
MultiSafe, Inc.Series A$17.3M$208.8M4.15×
Careerian Inc.Series A$20.3M$204.1M4.06×
Continu Inc.Series A$13.5M$202.7M4.03×
Devron CorpSeries A$16.8M$201.7M4.01×
RISC Zero, Inc.Series A$14.4M$199.8M3.97×
Pentagon Port LLCSeries A$15.0M$198.9M3.96×
Amnic Inc.Series A$14.0M$198.4M3.95×
Intensivate IncSeries A$14.7M$190.5M3.79×
Ws Holdco, PbcSeries A$14.8M$188.4M3.75×
Underline Infrastructure Inc. this companySeries A$18.6M$88.4M1.76×
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$3.2M2019-12-10$16.2M$110.4M90%
Seed$500K2020-04-27$2.5M$17.0M90%
Series A$7.4M2022-03-01$33.5M$104.4M90%
Series A$7.5M2022-08-09$33.9M$88.4M90%
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$3.2M2019-12-10
    • First recorded raise — entered as Seed.
    • 2 investors on this round.
  2. Seed$500K2020-04-27
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round 6.5× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  3. Series A$7.4M2022-03-01
    • Raised again after 22 mo — slower than the ~13 mo sector norm.
    • Round 14.7× larger than the prior — scaling up.
    • 9 investors on this round.
  4. Series A$7.5M2022-08-09
    • Came back fast: 5 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 6 investors on this round.
Intelligence
2023 ~Q2
Modeled next raise · ~11mo cadence
$7.5M
Modeled next size est.range $7.5M$12.1M
1.0×
Last step-up
$7.0M/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
Robert Thompson12 other2019-12
Matthew Levinson4 other2019-12
Brooks -- Gibbins2 other2019-12
Gareth Jones1 other2022-03
Mark Kropilak1 other2022-03
Registry & provenance

Underline Infrastructure 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
1797577
SEC CIK
2019
Incorporated
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
Devron CorpOther TechnologySeries A$16.8M$201.7Mnetwork1 shared operator · same sector · same stage
Underline Infrastructure Services, LLCOther TechnologySeries B$35.0M$509.1Mnetwork2 shared operators · same sector
Extend Enterprises, Inc.Other TechnologySeries A$28.8M$66.0Mnetwork1 shared operator · same sector · same stage
AgentSmyth Inc.Other TechnologySeries A$9.1M$1.3Mnetwork1 shared operator · same sector · same stage
WriteWise, Inc.Other TechnologySeries A$5.0M$36.0Mnetwork1 shared operator · same sector · same stage
InnotasOther TechnologySeries A$17.7M$90.2Msame sector · same stage
Quicket Solutions, Inc.Other TechnologySeries A$16.5M$89.6Msame sector · same stage
Street Smarts VR Inc.Other TechnologySeries A$16.0M$90.8Msame 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
Underline Infrastructure Services, LLCOther TechnologySeries B$509.1M96%
Wireline, Inc.Other TechnologySeed$86.0M86%
Waterline Development CorpOther TechnologyPre-Seed$530K86%
American Infrastructure Group, Inc.Other TechnologySeed$15.8M86%
Gridline Holdings, Inc.Other TechnologySeries A$36.2M85%
Treeline, Inc.Other TechnologySeries B$181.4M85%
Understory, Inc.Other TechnologySeries A$105.0M85%
Understory, LLCOther TechnologySeries A$80.5M84%
Frequently asked
How much funding has Underline Infrastructure Inc. raised?
Underline Infrastructure Inc. has raised approximately $18.6M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Underline Infrastructure Inc.'s estimated valuation?
Provath's modeled valuation for Underline Infrastructure Inc. is approximately $88.4M (modeled range $10.0M–$295.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Underline Infrastructure Inc. at?
Underline Infrastructure Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Tue Aug 09.
What does Underline Infrastructure Inc. do and where is it based?
Underline Infrastructure Inc. operates in the Other Technology sector, based in NEW YORK.
Explore related

See where Underline Infrastructure 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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