+32%

est. 2Y upside i

DevOps & InfraSeries C

Rank

#1307

Sector

Cloud Data Warehouse

Est. Liquidity

~4Y

Data Quality

Data: Medium

Fair expected upside of ~32% over 2 years, but with high risk.

Last updated: July 19, 2026

Bull (20%)+180%

Firebolt achieves an IPO window within 24 months, sustaining a ~12x revenue multiple on $77.9M revenue, yielding a ~$935M market cap. 20% dilution reduces net upside to 180%.

Base (40%)+90%

Firebolt grows to $77.9M revenue with a ~10x multiple (~$779M market cap). 20% dilution nets ~90% upside.

Bear (40%)-100%

Revenue growth disappoints or incumbent pressure compresses multiple to 3x, implying ~$234M exit value below $269M liquidation preference, wiping out common stock.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

7249%

Total funding $269M vs entry valuation $371M, resulting in a 72.5% liquidation preference overhang that severely dilutes common stock upside.

Dilution Risk

high

With last round in Jan 2022 and no recent funding, a raise within 24 months is likely, diluting existing holders by an estimated 20%.

Secondary Liquidity

limited

Secondary market implies a $371M valuation, but liquidity may be limited to institutional rounds.

Other — 2 roles

View all 2 open roles at Firebolt →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Firebolt plan to defend against Snowflake's AI optimization features?”

  • 2

    “What is the revenue growth trajectory and path to profitability?”

  • 3

    “Given the secondary market discount, what is the expected timeline to liquidity and how does the company view employee equity?”

Community

Valuation Sentiment

Our model estimates +32% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.