Companies · Other

Wasabi Holding, Inc.

BOSTON · Other

Diligence memoA one-page analyst read on Wasabi Holding, Inc. — recommendation, valuation, rhythm, risks.
$168.0M
Total raised · real
2
Rounds
0.2×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Mon Sep 15 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Wasabi Holding, Inc. 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.

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 0.27× the median modeled value of Series D+ Other companies in 2025–2027 (50 peers) — value vs value, same stage and era.
Active
  • Last raise 9 mo ago; this sector typically re-raises about every 11 months.
  • Raising on or ahead of the sector's normal rhythm.

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

Issuer-vehicle patternmedium confidence

Wasabi Holding, Inc. 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
5.3 yr record
Peak capital year was 2021 with $135.5M across 1 filings.
Market position
ahead of 98% of Other peers
Capital scale is ahead of 98% of Other peers; modeled value is above 90% 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
Lower 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
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • Sector is still broad/Other, so operating comparables are weak.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2021: $135.5M across 1 filings.
  • Largest single filing was $135.5M on 2021-03-31.
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.
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

Wasabi Holding, Inc. is one of 25008 Other companies tracked from BOSTON. By capital raised it ranks among the largest (ahead of 98% of sector peers), and among the largest 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
3
Investors (latest)
2021
Year incorporated
2025-09-15
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$1.3B$2.5B$3.8B$5.0BSeries D+ · 2021-03-31 Raised $135M (real) Modeled valuation $2.1B (est)$135M$2.1BSeries D+2021Series D+ · 2025-09-15 Raised $32M (real) Modeled valuation $259M (est)$32M$259MSeries D+2025+$32MCumulative $168M

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 D+$135.5M · 2021
Series D+ extension$32.5M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 17%.

Modeled valuation trajectory
$258.9M
Base estimate est.
$184.2M
Conservative case
$313.3M
Upside case
$270.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks. Directional, not a quoted figure.

Series D+ · modeled $2.1B · 2021-03-312021Series D+ · modeled $258.9M · 2025-09-152025
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
85%
Survival probability
68% low · 94% high
1.16×/yr
Annual markup
1.30×/yr upside case
0.8 yr
Elapsed time used
0.8 yr actual, capped for stale marks
general
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
54 mo
Avg between rounds
$37.7M/yr
Capital velocity
5.3 yr
On record since
2021
First round
2
Rounds on file
How it compares to the market

Benchmarked against 25008 companies in Other. 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) 82× above median
This company$168.0M
Sector median$2.0M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.3× of median
This company$32.5M
Sector median$125.1M
Modeled value — vs sector median (estimate, all stages) 15× above median
This company$258.9M
Sector median$17.7M

Raised more than 98% of sector peers (real $). Modeled value above 90% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) 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 #33 of 50.

This companyCohort peer
$100.0M$1.0B$10.0B$100.0M$1.0B$10.0BCapital raised (log)AP Adhesives Acquisitions, Inc. · Series D+ Raised $369.6M · modeled $3.1B (est)INNOVATE Corp. · Series D+ Raised $411.5M · modeled $2.9B (est)Curaleaf Holdings, Inc. · Series D+ Raised $691.1M · modeled $2.6B (est)Phantom Parent, LP · Series D+ Raised $585.5M · modeled $2.5B (est)Impulse Space, Inc. · Series D+ Raised $353.3M · modeled $2.5B (est)Brera Holdings PLC · Series D+ Raised $303.3M · modeled $2.4B (est)Skims Body, Inc. · Series D+ Raised $623.6M · modeled $2.0B (est)Econic Professionals US LLC · Series D+ Raised $217.8M · modeled $1.9B (est)Capital Rx, Inc. · Series D+ Raised $499.6M · modeled $1.9B (est)Casago Holdings, LLC · Series D+ Raised $220.1M · modeled $1.9B (est)DraftKings Inc. · Series D+ Raised $1.1B · modeled $1.8B (est)Koch, Inc. · Series D+ Raised $408.4M · modeled $1.7B (est)Wasabi Holding, Inc. (this company) Raised $168.0M · modeled $258.9M (est)Wasabi Holding, Inc.
CompanyStageRaised · realValue · estvs peer med.
AP Adhesives Acquisitions, Inc.Series D+$369.6M$3.1B3.30×
INNOVATE Corp.Series D+$411.5M$2.9B3.08×
Curaleaf Holdings, Inc.Series D+$691.1M$2.6B2.72×
Phantom Parent, LPSeries D+$585.5M$2.5B2.68×
Impulse Space, Inc.Series D+$353.3M$2.5B2.60×
Brera Holdings PLCSeries D+$303.3M$2.4B2.51×
Skims Body, Inc.Series D+$623.6M$2.0B2.15×
Econic Professionals US LLCSeries D+$217.8M$1.9B1.97×
Capital Rx, Inc.Series D+$499.6M$1.9B1.96×
Casago Holdings, LLCSeries D+$220.1M$1.9B1.95×
DraftKings Inc.Series D+$1.1B$1.8B1.89×
Koch, Inc.Series D+$408.4M$1.7B1.76×
Wasabi Holding, Inc. this companySeries D+$168.0M$258.9M0.27×
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 D+$135.5M2021-03-31$1.1B$2.1B90%
Series D+$32.5M2025-09-15$270.8M$258.9M90%
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. Series D+$135.5M2021-03-31
    • First recorded raise — entered as Series D+.
    • 141 investors on this round.
  2. Series D+$32.5M2025-09-15
    • Raised again after 54 mo — slower than the ~11 mo sector norm.
    • Round 4.2× smaller than the prior — bridge or down round.
    • 3 investors on this round.
Intelligence
2030 ~Q1
Modeled next raise · ~54mo cadence
$32.5M
Modeled next size est.range $32.5M$52.0M
0.2×
Last step-up
$37.7M/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
Susan E. Pravda6 other2021-03
David Friend5 other2021-03
Jeffry Flowers3 other2021-03
George Neble2 other2025-09
Michael Bayer2 other2025-09
Kerstin Dittmar1 other2025-09
Lou Shipley1 other2025-09
Susan Pravda1 other2025-09
Alex Louis Papadimitriou2021-03
Alex Papadimitriou2025-09
Marty Falaro2025-09
Michael Louis Bayer2021-03
Mike Welts2025-09
N. Louis Shipley2021-03
Roger Biscay2025-09
Registry & provenance

Wasabi Holding, 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
1864394
SEC CIK
2021
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
Wasabi Technologies, Inc.Software / TechSeries B$131.3M$798.9Mnetwork4 shared operators
SageCloud, Inc.Other TechnologySeries A$14.8M$44.4Mnetwork3 shared operators
Desert Newco, LLCOtherSeries D+$179.6M$225.1Msame sector · same stage
Highline Aftermarket Investments, LLCOtherSeries D+$151.0M$276.1Msame sector · same stage
Mandarinfish Holding Corp.OtherSeries D+$142.0M$243.9Msame sector · same stage
Bluecore, Inc.OtherSeries D+$242.8M$226.4Msame sector · same stage
Revere Superior Holding, Inc.OtherSeries D+$115.0M$234.9Msame sector · same stage
Tuscany Parent Inc.OtherSeries D+$114.5M$247.1Msame 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
Wasabi Goop Ltd Liability CoOtherPre-Seed$1.1M86%
Zenabis Global Inc.OtherSeed$57.8M84%
Zuru Holding LLCOtherPre-Seed$1.0M84%
iSee, Inc.OtherSeed$50.9M84%
TIU Holdings Corp.OtherSeries B$480.3M82%
Onar Holding CorpOtherPre-Seed$1.3M82%
Arete Global, LLCOtherPre-Seed$2.3M82%
Anza Partners Holdings, LLCOtherSeries A$36.3M81%
Frequently asked
How much funding has Wasabi Holding, Inc. raised?
Wasabi Holding, Inc. has raised approximately $168.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Wasabi Holding, Inc.'s estimated valuation?
Provath's modeled valuation for Wasabi Holding, Inc. is approximately $258.9M (modeled range $184.2M–$313.3M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Wasabi Holding, Inc. at?
Wasabi Holding, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Mon Sep 15.
What does Wasabi Holding, Inc. do and where is it based?
Wasabi Holding, Inc. operates in the Other sector, based in BOSTON.
Explore related

See where Wasabi Holding, 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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