+258%

est. 2Y upside i

CybersecuritySeries B

Anjuna enabled organizations to trust any infrastructure

Rank

#52

Sector

Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Medium

Anjuna offers high expected upside (~258%) driven by explosive growth, but carries significant risks from incumbent competition and dilution.

Last updated: July 19, 2026

Bull (20%)+300%

Exit multiple holds at 15x driven by IPO window and category leadership, yielding ~$1.45B enterprise value. Net of 20% dilution, upside capped at 300% per stage constraints.

Base (35%)+391%

Multiple converges to ~10x, in line with public comps, yielding ~$965M exit. After 20% dilution, net upside ~391%.

Bear (45%)+135%

Multiple compresses to 5x due to incumbent competition, yielding ~$483M exit. Preference stack not triggered, common still positive at 135% net of dilution.

Est. time to liquidity~2.5 years

Preference Stack Risk

severe

Funding Intensity

3540%

Total funding of $67M represents 35% of entry valuation, creating severe preference overhang.

Dilution Risk

high

Planned Series C in 2025 likely to dilute common stock by an estimated 20% over 2 years.

Secondary Liquidity

none

No secondary market activity reported; liquidity expected only upon exit.

Questions to Ask at the Interview

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

  • 1

    “How does Anjuna's differentiated technology stack up against AWS and Azure's native confidential computing offerings?”

  • 2

    “What is the pricing model and how does it scale with enterprise adoption?”

  • 3

    “Given the planned Series C, what is the expected dilution for common shareholders and potential exit timeline?”

Community

Valuation Sentiment

Our model estimates +258% 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.