Companies · Manufacturing

Virtue Labs, LLC

RALEIGH · Manufacturing

Diligence memoA one-page analyst read on Virtue Labs, LLC — recommendation, valuation, rhythm, risks.
$81.6M
Total raised · real
6
Rounds
0.5×
Latest step-up
Top 6%
Sector rank · raised
Series B
Latest stage · inferred · Fri Aug 25 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Virtue Labs, LLC looks fair 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 manufacturing sector profile.

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

Fair
  • Modeled value is 0.96× the median modeled value of Series B Manufacturing companies in 2022–2024 (44 peers) — value vs value, same stage and era.
  • Within the normal band (96% of peer median) for its niche.
At-risk
  • Last raise 2.8 yr ago; this sector typically re-raises about every 12 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Virtue Labs, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
12.8 yr record
Peak capital year was 2016 with $61.0M across 4 filings.
Market position
ahead of 95% of Manufacturing peers
Capital scale is ahead of 95% of Manufacturing peers; modeled value is above 87% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Needs review
Row-level filing totals differ from canonical totals, so amendment/superseded filtering should be checked.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2016: $61.0M across 4 filings.
  • Largest single filing was $28.6M on 2020-10-30.
  • Filing rows sum to $124.0M, while canonical raised total is $81.6M; likely amendments/superseded rows are mixed into the detail view.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
  • Canonical filtering should be tightened before using row-level totals for diligence.
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 Manufacturing

Virtue Labs, LLC is one of 3256 Manufacturing companies tracked from RALEIGH. By capital raised it ranks among the largest (ahead of 95% 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
1
Investors (latest)
2023-08-25
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$125M$250M$375M$500MSeries A · 2013-10-01 Raised $5.4M (real) Modeled valuation $54M (est)Series A2013Series A · 2016-04-01 Raised $4.1M (real) Modeled valuation $41M (est)Series A2016Series B · 2016-12-30 Raised $19M (real) Modeled valuation $205M (est)Series B2016Series B · 2016-12-30 Raised $15M (real) Modeled valuation $168M (est)Series B2016Series B · 2016-12-30 Raised $23M (real) Modeled valuation $250M (est)Series B2016Series B · 2020-10-30 Raised $29M (real) Modeled valuation $296M (est)Series B2020Series B · 2022-04-08 Raised $3.7M (real) Modeled valuation $29M (est)Series B2022Series B · 2023-08-25 Raised $17M (real) Modeled valuation $108M (est)Series B2023Series A · 2023-08-25 Raised $8.4M (real) Modeled valuation $41M (est)Series A2023+$4.1M+$19M+$15M+$23M+$29M+$3.7M+$17M+$8.4MCumulative $124M

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$5.4M · 2013
Series A extension$4.1M · 2016
Series B$18.7M · 2016
Series B extension$15.3M · 2016
Series B extension$22.8M · 2016
Series B extension$28.6M · 2020
Series B extension$3.7M · 2022
Series B extension$17.0M · 2023
Bridge · Series B-stage$8.4M · 2023smaller follow-on

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — 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
$107.7M
Base estimate est.
$43.4M
Conservative case
$226.7M
Upside case
$94.4M
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 manufacturing sector profile. Directional, not a quoted figure.

Series A · modeled $53.7M · 2013-10-012013Series A · modeled $41.1M · 2016-04-01Series B · modeled $205.3M · 2016-12-30Series B · modeled $168.1M · 2016-12-30Series B · modeled $250.0M · 2016-12-30Series B · modeled $295.9M · 2020-10-30Series B · modeled $29.5M · 2022-04-08Series B · modeled $107.7M · 2023-08-25Series A · modeled $41.0M · 2023-08-252023
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
69%
Survival probability
46% low · 85% high
1.19×/yr
Annual markup
1.44×/yr upside case
2.9 yr
Elapsed time used
2.9 yr actual, capped for stale marks
manufacturing
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
15 mo
Avg between rounds
$8.2M/yr
Capital velocity
12.8 yr
On record since
2013
First round
9
Rounds on file
How it compares to the market

Benchmarked against 3256 companies in Manufacturing. 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) 40× above median
This company$81.6M
Sector median$2.0M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.5× of median
This company$8.4M
Sector median$18.5M
Modeled value — vs sector median (estimate, all stages) 8.9× above median
This company$107.7M
Sector median$12.0M

Raised more than 95% of sector peers (real $). Modeled value above 87% 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 #25 of 44.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Stryve Foods, Inc. · Series B Raised $35.0M · modeled $294.5M (est)JW Rutledge Distillery, LLC · Series B Raised $34.0M · modeled $276.2M (est)Orange EV LLC · Series B Raised $35.0M · modeled $267.7M (est)Brondell Inc. · Series B Raised $28.6M · modeled $229.9M (est)Advantest Corp · Series B Raised $26.1M · modeled $204.7M (est)Endera Corp · Series B Raised $55.9M · modeled $200.8M (est)Goldback Inc. · Series B Raised $35.0M · modeled $197.3M (est)Trade Secret Chocolates, LLC · Series B Raised $32.1M · modeled $177.1M (est)VGI Plastics Sub Acquisition Company, LLC · Series B Raised $22.3M · modeled $163.9M (est)Lemurian, Inc. · Series B Raised $33.0M · modeled $158.1M (est)Selkirk Pharma, Inc. · Series B Raised $82.1M · modeled $152.6M (est)Xos, Inc. · Series B Raised $20.0M · modeled $151.9M (est)Virtue Labs, LLC (this company) Raised $81.6M · modeled $107.7M (est)Virtue Labs, LLC
CompanyStageRaised · realValue · estvs peer med.
Stryve Foods, Inc.Series B$35.0M$294.5M2.64×
JW Rutledge Distillery, LLCSeries B$34.0M$276.2M2.47×
Orange EV LLCSeries B$35.0M$267.7M2.40×
Brondell Inc.Series B$28.6M$229.9M2.06×
Advantest CorpSeries B$26.1M$204.7M1.83×
Endera CorpSeries B$55.9M$200.8M1.80×
Goldback Inc.Series B$35.0M$197.3M1.77×
Trade Secret Chocolates, LLCSeries B$32.1M$177.1M1.58×
VGI Plastics Sub Acquisition Company, LLCSeries B$22.3M$163.9M1.47×
Lemurian, Inc.Series B$33.0M$158.1M1.41×
Selkirk Pharma, Inc.Series B$82.1M$152.6M1.37×
Xos, Inc.Series B$20.0M$151.9M1.36×
Virtue Labs, LLC this companySeries B$81.6M$107.7M0.96×
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$5.4M2013-10-01$24.5M$53.7M90%
Series A$4.1M2016-04-01$18.7M$41.1M90%
Series B$18.7M2016-12-30$104.0M$205.3M90%
Series B$15.3M2016-12-30$85.2M$168.1M90%
Series B$22.8M2016-12-30$126.6M$250.0M90%
Series B$28.6M2020-10-30$158.9M$295.9M90%
Series B$3.7M2022-04-08$20.3M$29.5M90%
Series B$17.0M2023-08-25$94.4M$107.7M90%
Series A$8.4M2023-08-25$38.2M$41.0M90%
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$5.4M2013-10-01
    • First recorded raise — entered as Series A.
    • 19 investors on this round.
  2. Series A$4.1M2016-04-01
    • Raised again after 30 mo — slower than the ~12 mo sector norm.
    • Round 1.3× smaller than the prior — bridge or down round.
    • 28 investors on this round.
  3. Series B$18.7M2016-12-30
    • Raised 9 mo later, in step with the ~12 mo sector norm.
    • Round 4.5× larger than the prior — scaling up.
    • 66 investors on this round.
  4. Series B$15.3M2016-12-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 50 investors on this round.
  5. Series B$22.8M2016-12-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.5× larger than the prior — scaling up.
    • 67 investors on this round.
  6. Series B$28.6M2020-10-30
    • Raised again after 46 mo — slower than the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 26 investors on this round.
  7. Series B$3.7M2022-04-08
    • Raised 17 mo later, in step with the ~12 mo sector norm.
    • Round 7.8× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  8. Series B$17.0M2023-08-25
    • Raised 17 mo later, in step with the ~12 mo sector norm.
    • Round 4.6× larger than the prior — scaling up.
    • 39 investors on this round.
  9. Series A$8.4M2023-08-25
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~15mo cadence
$8.4M
Modeled next size est.range $8.4M$13.5M
0.5×
Last step-up
$8.2M/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
Todd Johnson26 other2013-10
Matt Zuga3 other2013-10
William A Hawkins3 other2016-12
Louise F Brady2 other2013-10
Melisse Shaban2 other2013-10
Akshay A. Shetty2023-08
Ashkay A Shetty2016-12
Gregory A. Polcer2023-08
Jason A Friedlander2016-12
John A. Rice2020-10
John F Rice2016-12
Jose Luis Palacios2023-08
Kim Westmoreland2013-10
Louise A. Brady2020-10
Matt A Zuga2016-12
Michael F Fishoff2016-12
Parth A. Mehrotra2020-10
Parth F Mehrotra2016-12
Patricia A Lopez2020-10
Registry & provenance

Virtue Labs, LLC 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
1692827
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
Selkirk Pharma, Inc.ManufacturingSeries B$82.1M$152.6Msame sector · same stage
Aaon, Inc.ManufacturingSeries B$80.0M$80.8Msame sector · same stage
Arxx CorpManufacturingSeries B$71.2M$65.8Msame sector · same stage
Global Bamboo Technologies Inc.ManufacturingSeries B$70.2M$78.1Msame sector · same stage
Plant Prefab, Inc.ManufacturingSeries B$63.7M$69.7Msame sector · same stage
Nuvosun IncManufacturingSeries B$107.8M$127.2Msame sector · same stage
MicroGREEN Polymers IncManufacturingSeries B$56.8M$52.1Msame sector · same stage
baebies inc.Other Health CareSeries B$92.8M$9.4Mnetwork1 shared operator · 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
QCI Labs, LLCManufacturingSeed$10.3M84%
Vermont Maple Holdings, LLCManufacturingSeries A$5.4M82%
VMC Acquisition Co LLCManufacturingSeed$21.7M82%
Virginia Carbon Products, LLCManufacturingSeed$2.5M82%
V-Glass, Inc.ManufacturingSeed$5.4M82%
True Lab LLCManufacturingPre-Seed$3.1M81%
Vitruvian Holdings LLCManufacturingPre-Seed$501K81%
Foundry Lab, Inc.ManufacturingSeries A$31.0M80%
Frequently asked
How much funding has Virtue Labs, LLC raised?
Virtue Labs, LLC has raised approximately $81.6M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Virtue Labs, LLC's estimated valuation?
Provath's modeled valuation for Virtue Labs, LLC is approximately $107.7M (modeled range $43.4M–$226.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Virtue Labs, LLC at?
Virtue Labs, LLC's latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Aug 25.
What does Virtue Labs, LLC do and where is it based?
Virtue Labs, LLC operates in the Manufacturing sector, based in RALEIGH.
Explore related

See where Virtue Labs, LLC sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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