-13%

est. 2Y upside i

ProductivitySeries D+

Rank

#2602

Sector

Business/Productivity Software

Est. Liquidity

~0Y

Data Quality

Data: Low

Equity upside is highly uncertain due to the recent acquisition and stale valuation.

Last updated: July 19, 2026

Bull (15%)-31%

AI-driven multiple expansion to 15x forward revenue, but still below the stale 34x entry. Projected revenue $64.1M yields exit $962M, a 31% loss from entry. Acquisition by Superhuman provides a floor but limits standalone upside.

Base (55%)-54%

Multiple converges to 10x, in line with public comps. Exit value $641M, a 54% decline. No growth acceleration; revenue projected at $64.1M. Dilution of 20% from a potential pre-IPO raise compounds loss.

Bear (30%)-73%

Multiple compresses to 6x due to competitive pressure from incumbents. Exit value $385M. Preference stack of $240M absorbs 62% of exit, leaving common stock near zero. Stale valuation overstates entry.

Est. time to liquidity~0.0 years

Preference Stack Risk

moderate

Funding Intensity

1710%

Total preferred funding of $240M against $1.4B valuation (17% overhang), but acquisition may have triggered conversion or new preferences.

Dilution Risk

high

No recent raise; company likely needs capital within 24 months given $41M revenue and $240M burn, implying 20%+ dilution.

Secondary Liquidity

none

No secondary market data; acquisition was all-stock, no public liquidity.

View all 4 open roles at coda →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Coda's product roadmap align with Superhuman's AI strategy post-acquisition?”

  • 2

    “What is the revenue retention and expansion rate among top customers like Uber and Spotify?”

  • 3

    “Can you share the most recent 409A valuation or secondary market pricing for the combined entity?”

Community

Valuation Sentiment

Our model estimates -13% 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.