Companies · Other Energy

Upstart Power, Inc.

SOUTHBOROUGH · Other Energy

Diligence memoA one-page analyst read on Upstart Power, Inc. — recommendation, valuation, rhythm, risks.
$58.7M
Total raised · real
7
Rounds
0.1×
Latest step-up
Top 10%
Sector rank · raised
Series B
Latest stage · inferred · Thu Dec 05 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Upstart Power, 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 energy 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 0.08× the median modeled value of Series B Other Energy companies in 2022–2024 (44 peers) — value vs value, same stage and era.
Quiet
  • Last raise 19 mo ago; this sector typically re-raises about every 12 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 Other Energy

Upstart Power, Inc. is one of 2049 Other Energy companies tracked from SOUTHBOROUGH. By capital raised it ranks among the largest (ahead of 91% of sector peers), and in the long tail 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
5
Investors (latest)
2024-12-05
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$200MPre-Seed · 2017-07-17 Raised $125K (real) Modeled valuation $2.0M (est)Pre-Seed2017Pre-Seed · 2018-08-08 Raised $472K (real) Modeled valuation $7.6M (est)Pre-Seed2018Pre-Seed · 2019-07-30 Raised $1.0M (real) Modeled valuation $16M (est)Pre-Seed2019Series B · 2020-12-14 Raised $16M (real) Modeled valuation $165M (est)Series B2020Series B · 2022-10-24 Raised $17M (real) Modeled valuation $125M (est)Series B2022Series B · 2024-07-01 Raised $23M (real) Modeled valuation $120M (est)Series B2024Series B · 2024-12-05 Raised $2.1M (real) Modeled valuation $10M (est)Series B2024+$472K+$1.0M+$16M+$17M+$23M+$2.1MCumulative $59M

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
Pre-Seed$125K · 2017
Pre-Seed extension$472K · 2018
Pre-Seed extension$1.0M · 2019
Series B$15.5M · 2020no Seed / Series A on file
Series B extension$16.9M · 2022
Series B extension$22.5M · 2024
Series B extension$2.1M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$10.2M
Base estimate est.
$5.0M
Conservative case
$16.9M
Upside case
$11.7M
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 energy sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $2.0M · 2017-07-172017Pre-Seed · modeled $7.6M · 2018-08-08Pre-Seed · modeled $16.1M · 2019-07-30Series B · modeled $164.9M · 2020-12-14Series B · modeled $125.1M · 2022-10-24Series B · modeled $119.5M · 2024-07-01Series B · modeled $10.2M · 2024-12-052024
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.22×/yr
Annual markup
1.47×/yr upside case
1.6 yr
Elapsed time used
1.6 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
15 mo
Avg between rounds
$7.9M/yr
Capital velocity
9.0 yr
On record since
2017
First round
7
Rounds on file
How it compares to the market

Benchmarked against 2049 companies in Other Energy. 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) 17× above median
This company$58.7M
Sector median$3.4M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.1× of median
This company$2.1M
Sector median$19.1M
Modeled value — vs sector median (estimate, all stages) 0.6× of median
This company$10.2M
Sector median$17.0M

Raised more than 91% of sector peers (real $). Modeled value above 38% 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 #43 of 44.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Pineapple Holdings, Inc. · Series B Raised $32.0M · modeled $264.3M (est)JTEC Energy, Inc. · Series B Raised $32.2M · modeled $246.4M (est)TMC the metals Co Inc. · Series B Raised $30.3M · modeled $232.6M (est)Cherry Street Holding Company, LLC · Series B Raised $27.8M · modeled $207.8M (est)Clean Hydrogen Works LA-1, L.L.C. · Series B Raised $30.0M · modeled $200.6M (est)Aether Fuels Pte. Ltd. · Series B Raised $36.9M · modeled $198.3M (est)Solv4 Energy AZ LLC · Series B Raised $25.0M · modeled $193.7M (est)Infinite Invention, Inc. · Series B Raised $65.4M · modeled $172.4M (est)Nebula Energy LLC · Series B Raised $27.0M · modeled $171.3M (est)VEIR, Inc. · Series B Raised $36.7M · modeled $165.3M (est)Apricus Generation, Inc. · Series B Raised $27.7M · modeled $154.9M (est)Perch Energy, Inc. · Series B Raised $31.6M · modeled $153.3M (est)Upstart Power, Inc. (this company) Raised $58.7M · modeled $10.2M (est)Upstart Power, Inc.
CompanyStageRaised · realValue · estvs peer med.
Pineapple Holdings, Inc.Series B$32.0M$264.3M2.14×
JTEC Energy, Inc.Series B$32.2M$246.4M2.00×
TMC the metals Co Inc.Series B$30.3M$232.6M1.88×
Cherry Street Holding Company, LLCSeries B$27.8M$207.8M1.68×
Clean Hydrogen Works LA-1, L.L.C.Series B$30.0M$200.6M1.63×
Aether Fuels Pte. Ltd.Series B$36.9M$198.3M1.61×
Solv4 Energy AZ LLCSeries B$25.0M$193.7M1.57×
Infinite Invention, Inc.Series B$65.4M$172.4M1.40×
Nebula Energy LLCSeries B$27.0M$171.3M1.39×
VEIR, Inc.Series B$36.7M$165.3M1.34×
Apricus Generation, Inc.Series B$27.7M$154.9M1.26×
Perch Energy, Inc.Series B$31.6M$153.3M1.24×
Upstart Power, Inc. this companySeries B$58.7M$10.2M0.08×
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.
Pre-Seed$125K2017-07-17$694K$2.0M90%
Pre-Seed$472K2018-08-08$2.6M$7.6M90%
Pre-Seed$1.0M2019-07-30$5.6M$16.1M90%
Series B$15.5M2020-12-14$86.3M$164.9M90%
Series B$16.9M2022-10-24$94.2M$125.1M90%
Series B$22.5M2024-07-01$125.1M$119.5M90%
Series B$2.1M2024-12-05$11.7M$10.2M90%
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. Pre-Seed$125K2017-07-17
    • First recorded raise — entered as Pre-Seed.
    • 6 investors on this round.
  2. Pre-Seed$472K2018-08-08
    • Raised 13 mo later, in step with the ~12 mo sector norm.
    • Round 3.8× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 504).
    • 7 investors on this round.
  3. Pre-Seed$1.0M2019-07-30
    • Raised 12 mo later, in step with the ~12 mo sector norm.
    • Round 2.1× larger than the prior — scaling up.
    • 1 investor on this round.
  4. Series B$15.5M2020-12-14
    • Raised 17 mo later, in step with the ~12 mo sector norm.
    • Round 15.5× larger than the prior — scaling up.
    • 13 investors on this round.
  5. Series B$16.9M2022-10-24
    • Raised again after 22 mo — slower than the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 8 investors on this round.
  6. Series B$22.5M2024-07-01
    • Raised again after 20 mo — slower than the ~12 mo sector norm.
    • Round 1.3× larger than the prior — scaling up.
    • 18 investors on this round.
  7. Series B$2.1M2024-12-05
    • Came back fast: 5 mo vs the ~12 mo sector norm.
    • Round 10.7× smaller than the prior — bridge or down round.
    • 5 investors on this round.
Intelligence
2026 ~Q1
Modeled next raise · ~15mo cadence
$2.1M
Modeled next size est.range $2.1M$3.4M
0.1×
Last step-up
$7.9M/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
Peter Bauer4 other2024-07
Scott Pearson4 other2017-07
Georg Bettenhauser2 other2024-07
PAUL OSENAR2 other2017-07
Elaine Wong1 other2024-07
John Santo Salvo1 other2020-12
David Aubrey2020-12
Jeff McNeil2020-12
Jeffrey Clopeck2024-07
NATHAN E. PALUMBO2018-08
Nathan Palumbo2017-07
PAUL E. OSENAR2018-08
RICH FLATHERS2017-07
ROBERT BOOKER2017-07
ROBERT E. BOOKER2018-08
SCOTT E. PEARSON2018-08
Steven Karaffa2020-12
Thurman Rodgers2020-12
TYLER COTE2017-07
Registry & provenance

Upstart Power, 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
1725995
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
Upstart Power Acquisitions, Inc.Other EnergyPre-Seed$307K$650Knetwork5 shared operators · same sector
ZeoGas LLCOther EnergySeries B$62.4M$8.7Msame sector · same stage
Cobalt Technologies IncOther EnergySeries B$68.0M$10.4Msame sector · same stage
ZeaChem Inc.Other EnergySeries B$73.4M$9.7Msame sector · same stage
InEnTec Inc.Other EnergySeries B$83.6M$6.4Msame sector · same stage
DeNexus, Inc.Other EnergySeries B$40.1M$10.7Msame sector · same stage
Xtreme Power Inc.Other EnergySeries B$98.4M$12.2Msame sector · same stage
Bright Power, Inc.Other EnergySeries B$32.3M$14.6Msame 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
Upstart Power Acquisitions, Inc.Other EnergyPre-Seed$650K98%
Upower, Inc.Other EnergySeries B$290.1M93%
Uprisun Energy LLCOther EnergyPre-Seed$4.0M89%
Outlast Power Inc.Other EnergyPre-Seed$969K87%
Advance Green Energy IncOther EnergySeed$26.0M87%
Uprisun Capital LLCOther EnergyPre-Seed$827K87%
Earthrise Energy, Inc.Other EnergySeed$35.6M87%
AMYT Energy Holdings, LLCOther EnergySeries A$43.8M87%
Frequently asked
How much funding has Upstart Power, Inc. raised?
Upstart Power, Inc. has raised approximately $58.7M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Upstart Power, Inc.'s estimated valuation?
Provath's modeled valuation for Upstart Power, Inc. is approximately $10.2M (modeled range $5.0M–$16.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Upstart Power, Inc. at?
Upstart Power, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Dec 05.
What does Upstart Power, Inc. do and where is it based?
Upstart Power, Inc. operates in the Other Energy sector, based in SOUTHBOROUGH.
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