-7%

est. 2Y upside i

Series A

Making it easy for employees to donate and volunteer with good causes.

Rank

#3697

Sector

Corporate Social Responsibility Software

Est. Liquidity

~5Y

Data Quality

Data: Low

Deed's acquisition by Bonterra in March 2026 fundamentally changes the equity calculus — this is no longer a high-risk/high-reward startup play but a PE-backed rollup bet where liquidity is likely 4–6 years out and the 2-year window is essentially illiquid.

Last updated: May 14, 2026

Bull (15%)+80%

Bonterra/Vista Equity executes a strategic sale or IPO within 4–5 years at a premium multiple, with Deed's blue-chip roster (Airbnb, Stripe, DoorDash, Adidas) proving to be a key asset in the combined platform; employees see roughly 80% gains on granted Bonterra equity. This requires seamless product integration, accelerated enterprise sales velocity, and favorable PE exit market conditions — all highly uncertain given the deal just closed in March 2026.

Base (55%)+10%

Deed operates as a business unit inside Bonterra with modest revenue synergies realized over 3–5 years, but no liquidity event falls within the 2-year window; equity sits illiquid with only paper gains of roughly 10% as Vista continues its hold period. Integration absorbs management bandwidth, CSR market growth (16.4% YoY TAM) partially offsets competitive pressure from Benevity, and any real payout remains years away.

Bear (30%)-80%

Post-acquisition integration with Bonterra proves disruptive — headcount reduction, product rationalization, or platform consolidation erodes Deed's standalone value and restructures employee equity terms; with zero disclosed revenue and a 45-person team last funded in December 2021, Deed's negotiating position inside Bonterra is weak. Benevity's entrenched enterprise relationships block meaningful market-share gains, and employees see up to 80% loss on equity value.

Est. time to liquidity~5.0 years

Preference Stack Risk

high

Funding Intensity

33%

Deed raised $13.1M in total funding against an undisclosed valuation; at typical December 2021 Series A multiples the liquidation preference likely represented 25–35% of equity value, and the undisclosed Bonterra acquisition terms may have further compressed common stockholder returns to minimal or zero.

Dilution Risk

high

Post-acquisition integration into a PE-backed rollup typically involves equity restructuring, option-pool resets for the acquired entity, and additional dilutive grants tied to Bonterra's broader cap table — all of which reduce any newly granted equity's effective ownership percentage.

Secondary Liquidity

none

Bonterra is a private PE-backed company with no public market or known secondary trading platform; employees have no near-term path to any liquidity outside a formal Vista-orchestrated exit event.

Other — 2 roles

View all 2 open roles at Deed →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How is Deed being integrated into Bonterra's product suite — will it remain a standalone platform or be absorbed into Bonterra's existing tools, and how does that affect the engineering and product roadmap for the next 24 months?”

  • 2

    “What is Deed's current ARR and net revenue retention, and what specific revenue synergy targets justified the acquisition price — are those targets on track two months post-close?”

  • 3

    “What equity vehicle is being offered (Bonterra options, RSUs, or phantom equity), what is the current grant-date valuation, and what is Vista Equity's projected exit vehicle and timeline for the Bonterra investment?”

Community

Valuation Sentiment

Our model estimates -7% 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.