The risk nobody prices is the risk that shows up in your DPI.
How ChronoProof was built — and why a five-product suite exists to turn healthcare regulatory, cyber, and diligence complexity into realizable value for venture capital and private equity investors who now get asked about distributions before they get asked about marks.
Investors were pricing healthcare risk by feel, then defending the mark with it.
The problem was never a lack of concern. It was the absence of structured intelligence. Firms held fragmented consultant reports and founder assurances, but had no continuous way to convert healthcare compliance and cyber complexity into signals comparable across companies, across a vintage, and across the full life of a position.
That gap has a cost, and the cost is no longer theoretical. Paper marks are no longer accepted as evidence of a realization. DPI is the first question in the room. When a held mark has to survive an investment committee, a valuation committee, or the DPI question in a re-up conversation, "we are comfortable with the company" is not an answer.
ChronoProof exists to make regulatory and cyber risk visible, comparable, and economically legible — at entry, through the hold, and at the route decision.
Our Founder spent 25+ years inside the exact risk environment healthcare investors are asked to underwrite.
Matthew did not arrive as a generic software founder. He came after decades inside healthcare governance, risk, compliance, security assurance, and AI governance — spanning HIPAA, HITRUST, FDA, NIST, ISO 13485/14971, PCI-DSS, GDPR, EU MDR and emerging AI risk frameworks — building those systems for Fortune 500 organizations before building the platform that prices them.
"Most GRC tools were built for compliance teams. ChronoProof was built for investors — by someone who has sat inside healthcare audits, cloud security certification programs, and AI risk policy, and who understands how those realities land in the waterfall."
— Matthew Mayer, Founder & CEOCompanies looked clean in the deck and carried unpriced risk into the exit.
Risk surfaced at the worst possible moment
Unresolved HIPAA, HHS 405(d), FDA, and ISO 14971/13485 exposure appeared in confirmatory diligence, in enterprise procurement, or in a sale process — the three points where it is most expensive to fix and most directly deducted from price. An issue found at exit is not a compliance finding. It is a discount to the multiple.
No comparable signal across the portfolio
Risk was priced with one-off consultants, scattered reports, and judgment. That does not scale in a sector where healthcare led all buyout deal-value growth in 2025 and where specialist funds are expected to out-earn generalists on evidence rather than access.
A data and workflow gap, not a software gap
Investors had no way to continuously convert messy regulatory reality into structured inputs usable in sourcing, in underwriting, in quarterly monitoring, and in the route decision. The founding thesis: make healthcare compliance and cyber data continuous, comparable, and source-traceable, and a historic blind spot becomes an underwriting advantage. Generalist platforms have mastered the deal graph. Nobody had mastered the regulatory, cyber, and market dimension in one layer.
The founding thesis was that the gap was structural, not technological. Healthcare compliance and cyber data already existed; what was missing was a way to make it continuous, comparable across companies, and usable inside the workflows a firm already runs. Generalist platforms have mastered the deal graph. The regulatory, cyber, and market dimension has stayed unmeasured — and therefore unpriced.
The products follow the order capital is actually put at risk.
Rather than one tool, Matthew assembled a team to build a sequence that tracks the investment lifecycle — making risk knowable at the asset level, comparable across the portfolio, and finally economic at the fund level, where DPI, TVPI, MOIC, and IRR are decided.
ChronoTruth
Nothing downstream is defensible without it. ChronoTruth converts portfolio healthcare compliance obligations into structured evidence, controls, risk signals, and remediation status across portfolio companies and their Azure environments. It is the comparability axis: the same questions, scored the same way, on every asset.
ChronoSee
A fast, recurring, standardized read of cybersecurity posture across all ten HHS 405(d) critical domains, in under an hour per company per quarter. One comparable cyber signal across the whole book instead of ten unrelated technical conversations.
ChronoPulse
Where operating data becomes fund math. Power BI dashboards, risk simulation, gap analysis, maturity trends, and LP-ready reporting — portfolio health expressed in the denominators an LP already uses.
ChronoScout
An AI-supported diligence engine that compresses evaluation from 30+ hours to roughly two, drawing on over 200 sources per deal and producing investment memoranda with six-category risk scoring. Regulatory pathway, SaMD classification, PCCP status, and the coding–coverage–payment sequence get read before the price is agreed, not after. More opportunities evaluated, with no rigor surrendered.
ChronoCurve
ChronoCurve closes the suite at the route decision. It triangulates valuation across DCF, precedent transactions, and comparable-company benchmarking — blended so dispersion across the comparable set is carried into the range rather than averaged away — and returns P10 / P50 / P90 outcomes with conditional value at risk on the downside tail.
For venture positions it runs the preference stack: what the fund actually receives at each exit value once liquidation preferences are satisfied, including the election under 1× non-participating preferred, across strategic sale, direct-share secondary, recapitalization, down-round listing, and wind-down.
For sponsors it backsolves affordability: what a financial buyer can service at current credit terms given debt service and covenant headroom, across strategic sale, sponsor-to-sponsor, GP-led secondary into a continuation vehicle, strip sale or LP tender, and hold-and-invest.
Both sides get the same closing figure — the computed cost of delay, so "let's revisit next quarter" carries a number.
A proprietary lens on a market that nobody else has normalized.
Information-as-a-service companies collect specialized data, normalize it, and feed it back into decisions in a way generic software cannot. ChronoProof follows that playbook in healthcare.
Domain-specific data spine
Ingests HIPAA, HITRUST, FDA 524B, HHS 405(d), ISO 13485/14971, ICH Q9, and EU MDR alongside live Azure configuration, then standardizes it into risk scores, maturity curves, and remediation maps that are comparable across assets and across vintages.
Continuous, not episodic
Not a diligence report with a date on it. Quarterly cyber assessment, living remediation roadmaps, fund dashboards, and fund-trajectory modeling that moves with the position.
Embedded in the investment workflow
Sourcing, entry discipline, onboarding, monitoring, analytics, and the route decision — the suite lines up against the stages capital already moves through, which is what turns a tool into infrastructure.
Capital is available. Liquidity is not. That gap is the product.
Three forces are converging on healthcare portfolios at the same time:
Distributions lag marks. Median net TVPI has risen for [six] consecutive quarters while DPI has stayed flat. LPs now ask about DPI first, and a re-up conversation can't rest on a held mark.
The old return levers are largely spent. Entry multiples are near record highs with less leverage behind them. Margin expansion, asset quality, and exit timing are what remain, and all three have to be backed by evidence.
Healthcare risk is rising faster than it's being priced. FDA 524B cyber requirements, HHS 405(d), and growing HIPAA enforcement and breach costs mean exposure now surfaces in confirmatory diligence, enterprise procurement, and sale processes.
Those are the three points where it's most expensive to fix and most directly taken off the price.
The result: an issue found at exit isn't a compliance finding. It's a discount to the multiple. The firms that measure this risk early will hold it as an underwriting and exit-timing advantage.
Evaluate more, dilute nothing
More healthcare opportunities, deeper diligence, without standing up an internal GRC team.
Certification-ready assets
Move companies toward defensible compliance maturity on a roadmap — the difference between an A-grade asset and everything else is the whole decision.
Evidence-based reporting
Report governance, cyber posture, and risk reduction with hard evidence and stated denominators, not narrative.
A common language for risk
Regulatory, cyber, and operational readiness become measurable and comparable across the portfolio, not argued one company at a time.
Route and timing, computed
Exit timing, realizable value, and the route itself stop being judgment calls and become ranked, traceable recommendations with the preference stack or the affordability backsolve behind them.
Governance as a source of competitive advantage — not a source of surprises.
"ChronoProof exists because healthcare investors kept losing value in the same blind spot: compliance and cybersecurity they could not see clearly, and could not price. After 25 years building governance systems for Fortune 500 companies, I assembled a team to convert that discipline into something an investment committee can sign and an LP can read."