Context
An early-stage medtech company was preparing for a capital raise but lacked the revenue history a conventional valuation requires.
It needed a credible, evidence-based indication of value to support investor discussions in a still-emerging technology category.
What we did
- Reviewed comparable company and transaction data across the medtech landscape and adjacent categories over the past 10 years to identify a peer set and observable valuation benchmarks by funding stage
- Applied a VC scorecard methodology, adjusting the benchmark range for management team, market opportunity, product differentiation, technology and IP position, competitive environment, regulatory pathway, commercial traction and future capital requirements
- Established a valuation range calibrated to the company’s specific strengths and risks relative to its peer set
Impact
The company entered investor discussions with a valuation range linked to observable market data and company-specific strengths, strengthening its negotiating position ahead of the raise.