+60%

est. 2Y upside i

FinTechHR TechSeries B

Ben is the world's first intelligent benefits platform, bringing innovation, flexibility, and automation to an industry ready for transformation. Our AI-powered platform simplifies global benefits management for companies like Mondelez, Pleo, Itsu, Trainline and HSBC. Offer benefits that work for every employee, whether desk-based, remote, or on-the-go.

Rank

#849

Sector

Fintech, HR Software

Est. Liquidity

~4Y

Data Quality

Data: Low

The equity upside is uncertain given missing valuation and high competition.

Last updated: July 19, 2026

Bull (10%)+109%

IPO window opens or Ben achieves category leadership, sustaining a forward revenue multiple of ~8x, yielding 109% upside. Revenue reaches $26.5M in 24 months.

Base (55%)+86%

Multiple converges to ~7x, in line with public comps, resulting in an exit value of $185.5M, a 85.5% gain from entry valuation of $100M.

Bear (35%)+6%

Multiple compresses to ~4x due to competitive pressure, exit value of $106M barely above entry, and common stock returns are minimal after preference.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

4850%

Total funding of $48.5M represents 48.5% of the estimated $100M entry valuation, heavily subordinating common stock.

Dilution Risk

low

Recent $27.5M Series B provides 18-24 months runway, making an additional raise unlikely within the 2-year horizon.

Secondary Liquidity

none

No secondary market activity or trading reported.

Commercial — 2 roles

Engineering — 2 roles

Product — 2 roles

Customer — 1 role

View all 7 open roles at Ben →

Last updated: March 8, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Ben plan to differentiate from incumbent HR platforms like Gusto and ADP in the benefits administration space?”

  • 2

    “What is the customer acquisition cost and lifetime value for key customer segments?”

  • 3

    “How does the company view employee equity ownership and what is the expected timeline for liquidity events?”

Community

Valuation Sentiment

Our model estimates +60% 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.