-17%

est. 2Y upside i

CybersecuritySeries B

Cyble - World’s First Intelligence-Driven, AI-Native Security…

Rank

#2705

Sector

Cybersecurity

Est. Liquidity

~5Y

Data Quality

Data: Medium

Cyble offers strong growth (65% YoY) and market positioning, but the $44.3M preference stack and critical incumbent threat make the bear case severe (83.9% downside).

Last updated: July 3, 2026

Bull (20%)+81%

Multiple holds at 15x on AI-native momentum and IPO window; revenue reaches $13.4M. Net of 20% dilution, upside 81%.

Base (35%)+14%

Multiple converges to public comps (~10x); revenue $13.4M. Net of 20% dilution, upside 14%.

Bear (45%)-84%

Multiple compresses to 6x; exit value $80.4M, preference stack $44.3M leaves $36.1M for common. Net of 20% dilution, downside -83.9%.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

4430%

Total funding $44.3M equals 44.3% of estimated entry valuation, giving preferred a large overhang.

Dilution Risk

high

With $44.3M raised in 2023 and likely cash burn, a further funding round within 2 years could dilute common by 15-25%.

Secondary Liquidity

none

No secondary implied valuation or tender offers reported; common stock is illiquid.

Questions to Ask at the Interview

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

  • 1

    “How does Cyble differentiate from Recorded Future and CrowdStrike in terms of AI and data coverage?”

  • 2

    “What is the customer churn rate and how does the subscription model ensure retention?”

  • 3

    “Given the preference stack, what is the expected dilution for common stock in the next funding round?”

Community

Valuation Sentiment

Our model estimates -17% 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.