+37%

est. 2Y upside i

CybersecuritySeries D+

Rank

#2175

Sector

Cybersecurity

Est. Liquidity

~1Y

Data Quality

Data: High

Cohesity is a profitable, late-stage company with $1.5B ARR and a strong competitive moat in the growing data protection and security market, now holding the largest market share after the Veritas acquisition.

Last updated: March 10, 2026

Bull (25%)+100%

Cohesity successfully integrates Veritas' enterprise data protection business, accelerating ARR growth to 20%+ YoY, driven by its AI-powered data security and cyber resilience solutions. This strong performance and market leadership lead to a successful 2026 IPO at a $14B valuation, representing a 100% upside from the current $7.0B.

Base (45%)+70%

Cohesity continues to grow ARR in the mid-teens (15-20% YoY), successfully integrates Veritas, and maintains its market leadership. It achieves a successful IPO in 2026 at an $11.9B valuation, reflecting a 70% upside from the current $7.0B, in line with recent secondary market sentiment.

Bear (30%)-40%

Increased competition from dominant incumbents like Microsoft and Broadcom, coupled with slower-than-expected integration of Veritas and market headwinds, leads to a delayed IPO and a valuation reset to $4.2B. Given the $5.9B liquidation preference, common stock holders would see significant losses, potentially receiving little to no return on their equity.

Est. time to liquidity~1.0 years

Preference Stack Risk

severe

Funding Intensity

85%

Investors hold $5.9 billion in liquidation preferences, meaning common stock holders would receive little to nothing if the company exits below this amount, and significantly less if it exits between $5.9B and $7.0B.

Dilution Risk

high

With $5.9B in total funding on a $7.0B valuation, a large portion of the company's value is already claimed by preferred shareholders, making future dilution impactful for common stock.

Secondary Liquidity

active

A secondary market valuation of $8.0B exists, with recent activity showing over $500M in bids, offers, and transactions, and an implied valuation of $11.9B as of Feb 2026.

View all 6 open roles at Cohesity →

Last updated: February 18, 2026

Questions to Ask at the Interview

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

  • 1

    “Given Cohesity's position as the largest data protection software provider and the 'high' incumbent threat, how is the company strategically planning to leverage its strong moat and AI capabilities to defend and expand market share against dominant players like Microsoft and Broadcom, especially post-Veritas integration?”

  • 2

    “With $1.5 billion ARR and a 28% adjusted profit margin for FY2024, and targeting a 'Rubrik-sized valuation' for the 2026 IPO, what are the key growth drivers and operational efficiencies Cohesity is prioritizing to achieve this ambitious valuation target?”

  • 3

    “Considering the Series H funding and the planned 2026 IPO, what is the company's approach to managing potential future dilution for common stock holders, and are there any plans for broader secondary liquidity events for employees prior to the IPO?”

Community

Valuation Sentiment

Our model estimates +37% 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.