-66%

est. 2Y upside i

Series D+

Digital experience intelligence platform with session replay and analytics

Rank

#3444

Sector

Digital Experience Intelligence

Est. Liquidity

~3Y

Data Quality

Data: Low

Given FullStory's current valuation of $1.8B on $95.7M revenue implies a 18.8x multiple, far above public comps (5-10x).

Last updated: July 19, 2026

Bull (15%)-39%

Bull scenario assumes exit multiple holds at 10x driven by a successful IPO or category leadership, but current high multiple compresses yield negative return net of dilution.

Base (50%)-62%

Base case assumes multiple converges to public comp average of 7x, resulting in significant downside as entry valuation appears overpriced relative to revenue.

Bear (35%)-85%

Bear case assumes multiple compresses to 4x on competitive pressure or market downturn, with preference overhang of $196M further eroding common equity value.

Est. time to liquidity~3.0 years
Adjusted for competitive dynamics: -66% (raw: -66%, adjustment: +1%)

Preference Stack Risk

moderate

Funding Intensity

11%

Total funding of $196M represents 10.9% of current valuation, creating moderate preference overhang.

Dilution Risk

moderate

With $95.7M revenue and $196M funding, a near-term raise is plausible, causing 15% dilution.

Secondary Liquidity

none

No secondary market activity noted; equity is fully illiquid until exit.

Product Engineering — 3 roles

Product Experience — 2 roles

Customer Success — 1 role

Customer Support — 1 role

Delivery — 1 role

People Ops — 1 role

Sales Development — 1 role

View all 16 open roles at FullStory →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does FullStory's AI-driven behavioral data differentiate from Adobe Analytics and Amplitude?”

  • 2

    “What are the key unit economics (e.g., session volume growth, ARPU)?”

  • 3

    “Given the high current valuation, what is the company's path to an exit and expected timeline?”

Community

Valuation Sentiment

Our model estimates -66% 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.