-19%

est. 2Y upside i

Series D+

Rank

#3300

Sector

Vertical SaaS

Est. Liquidity

~3Y

Data Quality

Data: Medium

The equity upside over 2 years is negative (-18.9% expected) due to a high entry multiple (11x ARR) and significant dilution and competitive risk.

Last updated: July 3, 2026

Bull (10%)+77%

IPO window opens within 2 years; multiple expands to 12x on $130M ARR (exit $1.56B). Post-dilution 77% upside.

Base (45%)-5%

Multiple converges to 7x ($910M exit), but 20% dilution reduces employee outcome to -5% vs $791M entry.

Bear (45%)-54%

Incumbent pressure (Zenoti, Mindbody) compresses multiple to 4x ($520M exit); 20% dilution yields -54% return.

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Funding Intensity

26300%

Total preferred stock of $188M represents 23.7% of current valuation, creating a high preference overhang.

Dilution Risk

moderate

Recent Series D suggests 12-18 months runway; another round within 24 months is possible, causing 20% dilution.

Secondary Liquidity

none

No secondary market activity detected; no tender offers or secondary transactions.

View all 20 open roles at Boulevard →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Boulevard plan to differentiate from Zenoti's deep AI features?”

  • 2

    “What is the company's path to profitability given 570 employees and $71M ARR?”

  • 3

    “What is the expected timeline to liquidity and what triggers an IPO?”

Community

Valuation Sentiment

Our model estimates -19% 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.