Theator is a surgical intelligence platform that turns surgical video into structured clinical data and actionable insights. It uses AI and computer vision to help hospitals improve surgical quality, education, and outcomes.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Theator shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
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| Date | Round | PPS (split-adj.) | Valuation |
|---|---|---|---|
| 2020 | Series A extension |
Theator announced a $15.5 million oversubscribed Series A led by Insight Partners, with Blumberg Capital joining and existing backers NFX, StageOne Ventures, KdT Ventures, and iAngels participating. The company said it had raised $18.5 million total at that point, signaling early investor support for commercial expansion.
Theator says its surgical intelligence platform transforms surgical video into structured clinical data to improve patient outcomes. Its product uses AI and computer vision to help surgeons improve performance and standardize best practices in the operating room.
In July 2022, Theator announced a $24 million Series A extension, bringing the total Series A round to $39.5 million. The company said the extension lifted total capital raised to $42.5 million, with Mayo Clinic and former Netflix CPO Neil Hunt among the supporters.
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No. As of March 2026, Theator is a private company and does not trade on any public stock exchange. Accredited investors can access Theator shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Theator does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Theator shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Theator shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Theator’s surgical intelligence platform turns surgical video into structured clinical data and actionable insights, generating $8.2M in 2025 revenue; after its $15.5M Series A to scale surgical AI — accredited investors can access Theator stock through UpMarket.