Companies · Biotechnology

Virtual Incision Corp

LINCOLN · Biotechnology

Diligence memoA one-page analyst read on Virtual Incision Corp — recommendation, valuation, rhythm, risks.
$100.8M
Total raised · real
9
Rounds
1.4×
Latest step-up
Top 11%
Sector rank · raised
Series C
Latest stage · inferred · Thu Mar 20 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Virtual Incision Corp looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech 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 0.28× the median modeled value of Series C Biotechnology companies in 2025–2027 (58 peers) — value vs value, same stage and era.
Active
  • Last raise 15 mo ago; this sector typically re-raises about every 14 months.
  • Raising on or ahead of the sector's normal rhythm.
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 Biotechnology

Virtual Incision Corp is one of 4291 Biotechnology companies tracked from LINCOLN. By capital raised it ranks among the largest (ahead of 90% 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
62
Investors (latest)
2025-03-20
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 · 2010-10-28 Raised $1.8M (real) Modeled valuation $81M (est)Seed2010Seed · 2015-06-30 Raised $1.8M (real) Modeled valuation $80M (est)Seed2015Series B · 2017-12-01 Raised $15M (real) Modeled valuation $607M (est)Series B2017Pre-Seed · 2019-06-26 Raised $1.0M (real) Modeled valuation $55M (est)Pre-Seed2019Series B · 2019-06-26 Raised $2.3M (real) Modeled valuation $91M (est)Series B2019Series B · 2019-10-15 Raised $10M (real) Modeled valuation $401M (est)Series B2019Series B · 2021-09-16 Raised $4.0M (real) Modeled valuation $94M (est)Series B2021Series C · 2021-11-29 Raised $47M (real) Modeled valuation $1.1B (est)Series C2021Series C · 2023-06-22 Raised $11M (real) Modeled valuation $145M (est)Series C2023Series A · 2025-03-20 Raised $5.5M (real) Modeled valuation $20M (est)Series A2025Series C · 2025-03-20 Raised $7.9M (real) Modeled valuation $54M (est)Series C2025Cumulative $107M

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$1.8M · 2010
Seed extension$1.8M · 2015
Series B$15.3M · 2017no Series A on file
Bridge · Series B-stage$1.0M · 2019smaller follow-on
Series B extension$2.3M · 2019
Series B extension$10.1M · 2019
Series B extension$4.0M · 2021
Series C$46.6M · 2021
Series C extension$11.0M · 2023
Bridge · Series C-stage$5.5M · 2025smaller follow-on
Series C extension$7.9M · 2025

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$53.9M
Base estimate est.
$24.6M
Conservative case
$74.2M
Upside case
$53.0M
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 biotech sector profile. Directional, not a quoted figure.

Seed · modeled $81.1M · 2010-10-282010Seed · modeled $79.5M · 2015-06-30Series B · modeled $607.2M · 2017-12-01Pre-Seed · modeled $55.2M · 2019-06-26Series B · modeled $91.3M · 2019-06-26Series B · modeled $400.9M · 2019-10-15Series B · modeled $94.4M · 2021-09-16Series C · modeled $1.1B · 2021-11-29Series C · modeled $144.6M · 2023-06-22Series A · modeled $20.5M · 2025-03-20Series C · modeled $53.9M · 2025-03-202025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
62%
Survival probability
46% low · 72% high
1.46×/yr
Annual markup
1.68×/yr upside case
1.3 yr
Elapsed time used
1.3 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
17 mo
Avg between rounds
$7.0M/yr
Capital velocity
15.7 yr
On record since
2010
First round
11
Rounds on file
How it compares to the market

Benchmarked against 4291 companies in Biotechnology. 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) 14× above median
This company$100.8M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.2× of median
This company$7.9M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 0.8× of median
This company$53.9M
Sector median$64.2M

Raised more than 90% of sector peers (real $). Modeled value above 47% 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 #45 of 58.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Newleos Therapeutics, Inc. · Series C Raised $93.4M · modeled $659.2M (est)Biolinq Inc · Series C Raised $247.4M · modeled $618.5M (est)Atsena Therapeutics, Inc. · Series C Raised $146.0M · modeled $605.7M (est)Galvanize Therapeutics, Inc. · Series C Raised $150.7M · modeled $581.7M (est)X4 Pharmaceuticals, Inc · Series C Raised $320.3M · modeled $494.8M (est)Endless Corp · Series C Raised $79.0M · modeled $493.8M (est)Ikena Oncology, Inc. · Series C Raised $117.6M · modeled $448.6M (est)Imbria Pharmaceuticals, Inc. · Series C Raised $140.2M · modeled $405.5M (est)Bambusa Therapeutics, Inc. · Series C Raised $67.4M · modeled $375.0M (est)Plexium, Inc. · Series C Raised $60.1M · modeled $361.1M (est)Latigo Biotherapeutics, Inc. · Series C Raised $50.0M · modeled $357.5M (est)Neuros Medical, Inc. · Series C Raised $160.0M · modeled $338.1M (est)Virtual Incision Corp (this company) Raised $100.8M · modeled $53.9M (est)Virtual Incision Corp
CompanyStageRaised · realValue · estvs peer med.
Newleos Therapeutics, Inc.Series C$93.4M$659.2M3.43×
Biolinq IncSeries C$247.4M$618.5M3.22×
Atsena Therapeutics, Inc.Series C$146.0M$605.7M3.15×
Galvanize Therapeutics, Inc.Series C$150.7M$581.7M3.03×
X4 Pharmaceuticals, IncSeries C$320.3M$494.8M2.57×
Endless CorpSeries C$79.0M$493.8M2.57×
Ikena Oncology, Inc.Series C$117.6M$448.6M2.33×
Imbria Pharmaceuticals, Inc.Series C$140.2M$405.5M2.11×
Bambusa Therapeutics, Inc.Series C$67.4M$375.0M1.95×
Plexium, Inc.Series C$60.1M$361.1M1.88×
Latigo Biotherapeutics, Inc.Series C$50.0M$357.5M1.86×
Neuros Medical, Inc.Series C$160.0M$338.1M1.76×
Virtual Incision Corp this companySeries C$100.8M$53.9M0.28×
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$1.8M2010-10-28$9.1M$81.1M85%
Seed$1.8M2015-06-30$9.0M$79.5M85%
Series B$15.3M2017-12-01$85.0M$607.2M90%
Pre-Seed$1.0M2019-06-26$5.6M$55.2M90%
Series B$2.3M2019-06-26$12.8M$91.3M90%
Series B$10.1M2019-10-15$56.1M$400.9M90%
Series B$4.0M2021-09-16$22.2M$94.4M90%
Series C$46.6M2021-11-29$310.4M$1.1B90%
Series C$11.0M2023-06-22$73.1M$144.6M90%
Series A$5.5M2025-03-20$25.1M$20.5M90%
Series C$7.9M2025-03-20$53.0M$53.9M90%
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$1.8M2010-10-28
    • First recorded raise — entered as Seed.
    • 7 investors on this round.
  2. Seed$1.8M2015-06-30
    • Raised again after 56 mo — slower than the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 06).
    • 5 investors on this round.
  3. Series B$15.3M2017-12-01
    • Raised again after 29 mo — slower than the ~14 mo sector norm.
    • Round 8.5× larger than the prior — scaling up.
  4. Pre-Seed$1.0M2019-06-26
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 15.3× smaller than the prior — bridge or down round.
    • 2 investors on this round.
  5. Series B$2.3M2019-06-26
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.3× larger than the prior — scaling up.
    • 5 investors on this round.
  6. Series B$10.1M2019-10-15
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 4.4× larger than the prior — scaling up.
    • 14 investors on this round.
  7. Series B$4.0M2021-09-16
    • Raised again after 23 mo — slower than the ~14 mo sector norm.
    • Round 2.5× smaller than the prior — bridge or down round.
    • 15 investors on this round.
  8. Series C$46.6M2021-11-29
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round 11.6× larger than the prior — scaling up.
    • 62 investors on this round.
  9. Series C$11.0M2023-06-22
    • Raised 19 mo later, in step with the ~14 mo sector norm.
    • Round 4.2× smaller than the prior — bridge or down round.
    • 33 investors on this round.
  10. Series A$5.5M2025-03-20
    • Raised again after 21 mo — slower than the ~14 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 10 investors on this round.
  11. Series C$7.9M2025-03-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× larger than the prior — scaling up.
    • 62 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~17mo cadence
$11.4M
Modeled next size est.range $7.9M$18.3M
1.4×
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
John Murphy16 other2015-06
Steve Kirby5 other2010-10
Michael Jerstad3 other2010-10
Sandy Horst2 other2017-12
Fernando P. Pacheco1 other2023-06
Mike Jerstad1 other2015-06
Amy P. Kobe2021-11
Dmitry Oleynikov2010-10
Fred P. Robertson2023-06
John P. Murphy2019-06
Lewei P. Wang2021-09
Mike P. Jerstad2019-06
Mukund P. Srinivasan2023-06
Rob P. Barmann2021-11
Sandy P. Horst2019-06
Shane Farritor2010-10
Shane P. Farritor2019-06
Shi P. Shenghao2019-06
Steve P. Kirby2019-06
Tao P. Lin2023-06
Tom P. Shehab2025-03
Tyler P. Stowater2021-09
Registry & provenance

Virtual Incision Corp 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
1380771
SEC CIK
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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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Virtuoso Surgical, Inc.BiotechnologySeries A$49.6M82%
Tissuetech, Inc.BiotechnologySeries C$2.3B82%
Surgical Training Simulators, Inc.BiotechnologyPre-Seed$656K81%
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Frequently asked
How much funding has Virtual Incision Corp raised?
Virtual Incision Corp has raised approximately $100.8M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Virtual Incision Corp's estimated valuation?
Provath's modeled valuation for Virtual Incision Corp is approximately $53.9M (modeled range $24.6M–$74.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Virtual Incision Corp at?
Virtual Incision Corp's latest modeled financing stage is Series C. Its most recent recorded round closed around Thu Mar 20.
What does Virtual Incision Corp do and where is it based?
Virtual Incision Corp operates in the Biotechnology sector, based in LINCOLN.
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