+16%

est. 2Y upside i

AI & MLSeries A

Airtop (fka Switchboard) provides intelligent browser automation for AI agents, enabling seamless web interaction and simplifying development and deployment.

Rank

#1690

Sector

AI Automation Software

Est. Liquidity

~5Y

Data Quality

Data: Low

Airtop's equity offers low expected upside (~16%) with high risk due to a massive preference overhang ($43.8M vs $5.8M valuation) and strong incumbent threats.

Last updated: July 19, 2026

Bull (10%)+182%

If Airtop captures AI automation market leadership and exits during an IPO window, a 7x revenue multiple on $2.5M ARR yields $17.5M exit, a 182% return after 20% dilution.

Base (45%)+96%

Moderate growth and multiple convergence to 5x on $2.5M ARR gives $12.5M exit, 95.5% return net of dilution, but preference overhang remains a barrier.

Bear (45%)-100%

Exit value of $7.5M at 3x multiple is below $43.8M preference, wiping out common stock entirely.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

755%

Total funding of $43.8M exceeds current valuation of $5.8M by 7.55x, meaning common stock is deeply underwater and preferred shareholders have a massive liquidation preference.

Dilution Risk

high

With $43.8M raised and low ARR, a down round or additional funding is likely within 2 years, causing 15-25% dilution.

Secondary Liquidity

none

No secondary market activity detected; no recent marks imply no liquidity for employees.

Questions to Ask at the Interview

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

  • 1

    “How does Airtop plan to differentiate against AI agent offerings from HubSpot and Adobe?”

  • 2

    “What is the path to breakeven given the current $1.8M ARR and $43.8M in funding?”

  • 3

    “What is the current fully diluted share count and what percentage ownership does this offer represent?”

Community

Valuation Sentiment

Our model estimates +16% upside. What do you think?

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