-62%

est. 2Y upside i

AI & MLSeries A

Hedra is a pioneering generative media company backed by top investors at Index, A16Z, and Abstract Ventures. We're building Hedra Studio, a multimodal creation platform capable of control, emotion, and creative intelligence.

Rank

#3405

Sector

AI & Machine Learning

Est. Liquidity

~3Y

Data Quality

Data: Medium

Hedra's 57x ARR multiple implies extreme expectations that are unlikely to be met.

Last updated: July 21, 2026

Bull (20%)+17%

If Hedra achieves category leadership and benefits from an IPO window, forward multiple could reach 20x, yielding 37% gross upside, but dilution from a likely raise reduces net to 17%.

Base (35%)-69%

Multiple converges to public comps at 7.5x, and with dilution, net downside of ~69%.

Bear (45%)-93%

Multiple compresses to 4x on slower growth; exit value barely above liquidation preference leads to common stock effectively wiped out with ~93% downside.

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Funding Intensity

22%

$44M in liquidation preference overhang against $200M valuation, representing 22% of total value.

Dilution Risk

high

With $3.5M ARR and significant burn, a down-round or major dilution within 2 years is probable.

Secondary Liquidity

none

No secondary trading activity reported; illiquid.

Engineering — 7 roles

View all 7 open roles at Hedra →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Hedra plan to differentiate its character-generated video from general AI video models like OpenAI Sora and Google Veo?”

  • 2

    “What are the key customer acquisition and retention metrics for your usage-based pricing model?”

  • 3

    “What is the current 409A valuation of common stock, and how does the liquidation preference affect the value of employee equity?”

Community

Valuation Sentiment

Our model estimates -62% 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.