+11%

est. 2Y upside i

Series C

Rank

#1803

Sector

Geospatial Analytics, Location Intelligence

Est. Liquidity

~4Y

Data Quality

Data: Low

The equity offer has modest 2-year expected upside (~11%) given the stale 10.4x-revenue valuation mark and severe preference overhang.

Last updated: August 21, 2026

Bull (20%)+79%

If CARTO solidifies category leadership in cloud-native spatial analytics and a favorable IPO or tender window opens, a 10x revenue multiple on $53.6M projected revenue yields a $536M exit, a +78.8% upside. This is contingent on continued Snowflake/Google partnerships and AI-driven expansion.

Base (45%)+25%

With a 7x exit multiple in line with public SaaS comps (MNDY, ASAN, TEAM), the company reaches a $375M valuation, a +25.2% upside, assuming revenue lands at $53.6M and no material disruption from cloud-native geospatial offerings.

Bear (35%)-46%

If cloud giants (Google, Snowflake, Databricks) continue embedding geospatial functions, CARTO's growth slows and the multiple compresses to 3x, leaving a $161M exit and a -46.4% loss for common stock. This remains above the $92M preference floor, so common stock is not wiped out.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

3070%

Total preferred liquidation preference of $92M equals ~31% of the $300M entry valuation, meaning common stock is highly subordinated.

Dilution Risk

low

No new round is assumed within 24 months given no raise since 2021; 0% dilution assumed in scenarios.

Secondary Liquidity

none

No secondary market or recent tender offer is disclosed; employees likely have no liquidity until an IPO or acquisition.

Other — 1 role

View all 1 open roles at Carto →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “How does CARTO differentiate from native geospatial features in Snowflake and BigQuery, and what is the net revenue retention for customers using those integrations?”

  • 2

    “What is the current cash runway and are there plans for a new financing round, IPO, or M&A in the next 24 months?”

  • 3

    “What is the common stock liquidity path, and has the company ever provided secondary sale opportunities for employees?”

Community

Valuation Sentiment

Our model estimates +11% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

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