Startup Diligence
Latest private-market research

Startup diligence,
written by AI.

Each report runs end-to-end research on a private startup and writes it up like an investment committee memo: cover snapshot, executive summary, market sizing, competitors, financials, product, customers, risks, and valuation. Every claim links to a public source.

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Cybersecurity / Identity Verification Series D (private unicorn)

Veriff

A profitable, fast-growing identity-verification leader whose quality is high but whose price is unconfirmed against a three-year-stale $1.5B mark.

Track Fair Risk: High
Valuation
$1.5B
Revenue run-rate
$110M
ARR
$110M
Growth
83%
Consumer / Digital Health late-stage-private

Noom

Noom is a real, large-scale consumer-health brand whose 2021 $3.7B mark is no longer credible — secondary markets already imply ~$720M — and whose investability now hinges on whether the GLP-1 Noom Med pivot can offset behavioral-app revenue decline and structural disruption.

Research more Stretched Risk: High
Valuation
$3.7B
Revenue run-rate
$400M
Climate / Clean Energy (clean hydrogen and sustainable carbon black via plasma methane pyrolysis) Late-stage private (unicorn)

Monolith Materials

A first-of-its-kind commercial plasma-pyrolysis producer with real technology and blue-chip backing, but thin public financials, single-plant scale, customer/loan concentration and a DOE loan under cancellation threat warrant deeper diligence before underwriting the $1B+ valuation.

Research more Stretched Risk: High
Valuation
$1B
Identity Verification / Biometric Cybersecurity Late-stage private (Series B / pre-Series C)

Incode Technologies

A fast-growing LATAM identity-verification leader with real scale and revenue, but a stretched reported valuation, concentration, and biometric regulatory exposure warrant close tracking before conviction.

Track Stretched Risk: Medium
Valuation
$1.3B
Revenue run-rate
$170M
ARR
$170M
Growth
80%
Vertical AI / Home Services Automation Series B

Avoca

Avoca has genuine vertical AI traction and elite investor validation in an underpenetrated home-services market, but the $1 billion valuation on undisclosed eight-figure ARR creates too wide an uncertainty band to underwrite without data-room access — warranting a track posture until key unit economics are verified.

Track Stretched Risk: High
Valuation
$1B
Circular Economy / Food Waste Diversion Series C

Divert

Divert has assembled a defensible end-to-end food waste circular economy platform with genuine operational switching costs, but its $1B+ Series C valuation implies revenue well above two-facility run-rate reality and complete financial opacity precludes independent underwriting, warranting a track posture pending disclosure.

Track Stretched Risk: High
Valuation
$1B
biotech infrastructure series-e

Alloy Therapeutics

Alloy Therapeutics looks strategically relevant and partner-rich, but the current $1.0B mark already assumes durable economics that public disclosures do not yet substantiate.

Research more Stretched Risk: High
Valuation
$1B
Dental medtech / Healthcare Late-stage private (unicorn, pre-IPO)

vVardis

vVardis has created a genuinely novel dental therapeutic category with rapid US institutional adoption and unicorn-level backing, but the complete absence of disclosed financials and persistent insurance reimbursement gaps support only a research-more stance until an S-1 filing provides the evidence needed to underwrite the $1B+ private-market valuation.

Research more Stretched Risk: High
Valuation
$1B
Healthcare Technology Late-stage private

Vi Labs

Vi Labs is a qualified BUY as a leading enterprise AI platform for healthcare data intelligence, supported by a $1.64B valuation, a 190M-record data moat, and 100+ enterprise customers, tempered by undisclosed financials.

Buy Fair Risk: Medium
Valuation
$1.6B
fintech series-b

Talos

Talos is a strategically strong institutional digital asset infrastructure platform with credible product breadth and customer traction, but its current valuation already prices in substantial future execution while public disclosure remains too thin for high-conviction underwriting.

Track Stretched Risk: High
Valuation
$1.5B
Revenue run-rate
$45.5M
Growth
67%
fintech / BNPL / e-commerce SaaS growth

Advance Intelligence Group

Advance Intelligence Group is one of the most advanced SEA fintech multi-product platforms at profitability inflection, but undisclosed credit quality and an uncertain IPO path make this a conditional accumulate at or below the 2021 round valuation.

Track Fair Risk: High
Valuation
$2B
Revenue run-rate
$500M
Growth
50%
Fintech / Specialty Lending Series F

Octane

Octane is a profitable, high-growth specialty fintech lender with a defensible moat in powersports and recreational markets; the $1.3B valuation is fair given GAAP profitability and 29% originations growth, making this a buy for specialty fintech investors with medium confidence pending full financial disclosure.

Buy Fair Risk: Medium
Valuation
$1.3B
Revenue run-rate
$400M
Growth
29%

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