-67%

est. 2Y upside i

HR TechSeries D+

Performance management platform for employee engagement and development

Rank

#3475

Sector

HR Tech

Est. Liquidity

~4Y

Data Quality

Data: Low

Given the stale $1B valuation (40x 2024 revenue) and likely multiple compression, the expected equity upside over 2 years is -67%.

Last updated: July 19, 2026

Bull (15%)+2%

IPO window and AI adoption could sustain a 22x multiple on $55.5M revenue, yielding $1.22B exit, but dilution and high entry multiple limit upside to 2%.

Base (40%)-65%

Multiple compresses to 10x (in line with public peers), exit at $555M, a 44.5% decline, exacerbated by 20% dilution for a 64.5% loss.

Bear (45%)-92%

Multiple drops to 5x on slowing growth and incumbent competition, exit at $277.5M, just above preference stack, leading to a 72.25% decline plus dilution results in 92.25% loss.

Est. time to liquidity~4.0 years
Adjusted for competitive dynamics: -69% (raw: -67%, adjustment: -2%)

Preference Stack Risk

high

Funding Intensity

19%

Total funding $194.4M represents 19.4% of valuation; preferred holders have 1x liquidation preference, taking 19.4% of exit proceeds before common.

Dilution Risk

high

Likely to raise additional capital within 2 years due to high burn; estimated 20% dilution.

Secondary Liquidity

none

No secondary market observed; liquidity likely 4+ years via IPO or acquisition.

R&D — 3 roles

Revenue Organization — 3 roles

G&A — 1 role

View all 7 open roles at 15Five →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on 15Five's data — designed to show you've done your homework.

  • 1

    “How does 15Five maintain a competitive moat against HR suite incumbents like Workday?”

  • 2

    “What is your customer retention rate and net dollar retention?”

  • 3

    “What is the current runway and when do you expect to be cash flow positive?”

Community

Valuation Sentiment

Our model estimates -67% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.