Workhorse Group Inc.

Businessfiled

Workhorse Group Inc. operates in Manufacturing, based in LOVELAND.

No verified homepage on file yet — operating evidence is limited to the public record.

Capital & rounds (filed)filed

Workhorse Group Inc. has raised $243M in disclosed capital across 13 recorded rounds, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).

Largest single filing: $200M on 2020-10-14.

Most recent recorded round closed around 2020-10-14.

Filings read as a recurring offering program rather than a clean venture-stage ladder — interpret stage labels and step-ups with that in mind.

Valuation (modeled)modeled

Provath models Workhorse Group Inc. at approximately $2.2B (range $1.2B–$4.7B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.

Read: Fair. Modeled value is 1.33× the median modeled value of Series D+ Manufacturing companies in 2019–2021 (14 peers) — value vs value, same stage and era. Within the normal band (133% of peer median) for its niche.

Financing rhythm & timingmixed

Historic cadence: a new round about every 3 months.

Last raise 5.7 yr ago; this sector typically re-raises about every 12 months.

Silent for over 3× the sector's normal cadence.

The last round stepped up 138.5× from the prior — scaling.

Comparablesmixed

Capital scale ranks ahead of 98% of Manufacturing peers (3257 compared).

Modeled value ranks above 98% of those peers.

Closest niche peers: Nikola Corp, LSF9 Balta Issuer S.a r.l., Motional AD LLC, NotCo Ltd, Garrett Motion Inc..

Peoplefiled

24 named people on file across officers, directors and signatories.

Risks & flagsmixed

Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.

No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.

Recurring-offering pattern: stage-based valuation has lower applicability.