-53%

est. 2Y upside i

AI & MLSeries B

Butlr is the world’s first and only 100% anonymous people sensing and occupancy detection platform that helps enterprises all over the world improve their workplace planning and optimize their operations. Using just body heat and advanced AI technologies, Butlr understands presence and traffic without capturing any identities—ever.

Rank

#1545

Sector

Physical AI, Spatial Intelligence

Est. Liquidity

~4Y

Data Quality

Data: High

Butlr operates in a promising Physical AI and Spatial Intelligence market with a strong competitive moat due to its patented, privacy-first thermal sensing technology.

Last updated: March 10, 2026

Bull (25%)+250%

Butlr successfully leverages its patented, privacy-first thermal sensing technology to rapidly penetrate the vast TAM, expanding aggressively into corporate lab spaces and healthcare. Strategic partnerships drive significant customer acquisition, pushing revenue to $20M+ by 2028 and justifying a $350M valuation at 17.5x revenue, a strong multiple for a high-growth, differentiated hardware/software play.

Base (45%)+50%

Butlr maintains steady growth in its core senior living and workplace segments, fending off direct competitors like Density and VergeSense due to its anonymity advantage. Revenue grows to $8M-$10M by 2028, leading to an acquisition or next funding round at a $150M valuation, representing moderate upside for common shareholders after accounting for preferences.

Bear (30%)-70%

Larger incumbents like Johnson Controls or Honeywell develop or acquire competing privacy-focused solutions, commoditizing Butlr's core technology. Market adoption is slower than anticipated, and the high valuation multiple becomes unsustainable. Revenue growth stalls, leading to a down round or acquisition at $30M, wiping out most or all common stock value due to the $68M liquidation preferences.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

68%

Investors hold $68M in liquidation preferences ahead of common stock. In an exit at the current $100M valuation, employees with common stock would receive $32M in total, or $0 if the exit is below $68M.

Dilution Risk

high

As a Series B company, Butlr will likely require additional funding rounds, leading to further dilution for common shareholders before a liquidity event.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for Butlr's equity.

View all 2 open roles at Butlr →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “Butlr's patented body heat sensing technology offers 100% anonymity, which is a key differentiator. How do you plan to maintain this competitive edge and ensure continued technological leadership against larger incumbents like Honeywell or Schneider Electric, who could potentially develop similar solutions or acquire competitors?”

  • 2

    “With current revenue around $2M and a $100M valuation, the company has a high revenue multiple. What are the key milestones and growth strategies, particularly in expanding beyond senior living and workplaces, that Butlr is targeting to justify and grow into this valuation over the next two years?”

  • 3

    “Given the significant liquidation preference stack of $68M on the current $100M valuation, how does Butlr envision the path to a liquidity event for common stock holders, and what are the company's plans regarding potential future funding rounds or secondary liquidity options for employees?”

Community

Valuation Sentiment

Our model estimates -53% 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.