-10%

est. 2Y upside i

HealthcareSeries B

Rank

#2526

Sector

Primary Care / Digital Health

Est. Liquidity

~4Y

Data Quality

Data: Low

The expected equity upside is -10% over 2 years, reflecting severe preference overhang and lack of revenue data.

Last updated: July 19, 2026

Bull (20%)+180%

Optimistic scenario: Gather Health achieves rapid clinic expansion and strong value-based contracts, leading to an exit at $200M (4.3x current valuation) by 2027. After 20% dilution and preference stack of $52.2M, common equity yields 180% upside. This requires significant revenue traction and IPO or strategic acquisition.

Base (50%)-20%

Base scenario: Company grows but remains below preference stack threshold, exiting at $50M barely above total funding of $52.2M. After preference liquidation of $52.2M, common stock recovers $0, resulting in -100% return; however, the 20% dilution adjustment yields -20% upside in this scenario.

Bear (30%)-120%

Bear scenario: Weak execution or competitive pressure leads to distressed exit at $30M below total funding. Common stockholders receive nothing, realizing -100% return. After 20% dilution adjustment, downside is -120%.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

11110%

Total funding $52.2M exceeds current valuation $47M, meaning preferred liquidation preference covers full equity value. Common stockholders would receive zero in a liquidation at current valuation.

Dilution Risk

high

With $17M raised in June 2024 and no revenue disclosed, additional capital likely needed within 24 months, expecting 15-25% dilution. Runway may extend into 2026 but burn rate unknown.

Secondary Liquidity

none

No secondary market activity indicated; employee equity is illiquid until a liquidity event.

Other — 2 roles

View all 2 open roles at Gatherhealth →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Gather Health measure and report patient outcomes to Medicare?”

  • 2

    “What is the average revenue per patient and clinic-level unit economics?”

  • 3

    “Given the preference stack, what is the board's plan for funding future growth and potential down round scenarios?”

Community

Valuation Sentiment

Our model estimates -10% 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.