+23%

est. 2Y upside i

HR TechSeries A

Rank

#2877

Sector

HR Tech

Est. Liquidity

~3Y

Data Quality

Data: Low

Cocoon operates in a critical, complex niche within HR tech, evidenced by its $50M revenue and strong customer logos.

Last updated: March 10, 2026

Bull (10%)+250%

Cocoon achieves market leadership in specialized leave management, leveraging its compliance expertise and strategic partnership with ADP to expand into new enterprise segments. This drives revenue to $200M+ by 2028 and justifies a $1.2B+ valuation at 6x revenue, representing a +250% upside from current estimates.

Base (45%)+75%

Cocoon maintains its strong niche in mid-market leave management, growing revenue to $90M-$100M by 2028. A strategic acquisition by a larger HR tech player like ADP or UKG at a 6-7x revenue multiple would result in a $600M-$700M valuation, providing a +75% upside.

Bear (45%)-80%

Intensified competition from incumbents like Workday and Rippling, coupled with slower market adoption or adverse regulatory changes, limits Cocoon's growth. Revenue stalls at $60M, leading to a down round or a low acquisition at a $70M valuation, resulting in an 80% loss for common shareholders after accounting for $26M in liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Investors hold $26M in liquidation preferences, meaning in an exit at or below the estimated $350M valuation, they would be paid first.

Dilution Risk

high

As a Series A company, additional funding rounds are likely needed before a liquidity event, which will lead to further dilution of common stock.

Secondary Liquidity

none

There is currently no active secondary market or tender offers for Cocoon's shares, typical for a company at this stage.

Other — 3 roles

View all 3 open roles at Cocoon →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “Given the strong presence of incumbents like Workday and ADP in the broader HR tech space, what is Cocoon's long-term strategy to defend and expand its market share in leave management?”

  • 2

    “With $50M in revenue, what are the key growth levers the company plans to pull over the next 2-3 years to scale significantly, beyond its current customer base?”

  • 3

    “Considering the Series A funding in 2021 and the current market conditions, what is the anticipated timeline and most likely exit scenario (e.g., IPO, acquisition) for employees to realize their equity value?”

Community

Valuation Sentiment

Our model estimates +23% 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.