+38%

est. 2Y upside i

Series A

Digital-native home painting franchise

Rank

#2140

Sector

Home Services

Est. Liquidity

~7Y

Data Quality

Data: Low

Craftwork is a high-risk, early-stage bet in a structurally difficult sector — no revenue, valuation, or growth data is disclosed, making the equity value nearly impossible to independently verify.

Last updated: May 5, 2026

Bull (18%)+250%

Craftwork successfully expands to 10+ cities by 2027, demonstrating strong unit economics and raising a Series B/C at a ~$150-200M valuation; common stockholders see ~250% upside after absorbing the $17M preference stack. Forerunner Ventures drives the next round and the company positions for acquisition by a large home-services platform or national franchise operator.

Base (52%)+30%

Craftwork achieves steady growth in 2-3 markets but faces labor scaling friction and competitive pressure from Angi and franchised chains, raising a Series B at a modest ~$55-70M valuation; common stockholders see limited ~30% upside due to the severe preference overhang on a still-small equity base. The 2-year window provides essentially zero liquidity and the equity remains fully illiquid.

Bear (30%)-75%

Thin home-services margins and the fixed cost burden of a full-time employee workforce cause cash burn to exceed plan; the company raises a down round or is acquired at or below the $17M liquidation preference threshold, effectively wiping out common equity and delivering approximately -75% value. The complete absence of disclosed revenue or growth data makes burn rate and runway entirely opaque from the outside.

Est. time to liquidity~7.0 years

Preference Stack Risk

severe

Funding Intensity

49%

$17M in total funding against an estimated ~$35M post-money Series A valuation implies a ~49% liquidation preference overhang, meaning common stockholders receive nothing until preferred holders are made whole in any exit below that threshold.

Dilution Risk

high

A capital-intensive Series A company in home services will almost certainly require 2-3 additional funding rounds before any liquidity event, each likely diluting common stock by an estimated 15-25% per round.

Secondary Liquidity

none

No secondary market activity is expected for a 50-person, Charlotte-based Series A startup; equity is fully illiquid with no near-term tender offer or structured liquidity mechanism in evidence.

Questions to Ask at the Interview

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

  • 1

    “What are the per-market unit economics in Charlotte after 18+ months of operation — specifically CAC, job repeat rate, and gross margin per project — and how do those metrics inform the multi-city expansion playbook?”

  • 2

    “How does the full-time employee model remain cost-competitive against gig platforms as headcount scales, and what is the targeted labor-cost percentage of revenue at steady state?”

  • 3

    “What specific milestones trigger the Series B raise, how much additional dilution should early employees anticipate before a liquidity event, and has the board discussed any secondary liquidity programs for employee shareholders?”

Community

Valuation Sentiment

Our model estimates +38% 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.