+53%

est. 2Y upside i

FinTechSeries A

We automate document-heavy workflows in financial services and beyond

Rank

#962

Sector

Fintech, Automation Software

Est. Liquidity

~3Y

Data Quality

Data: Medium

For a job candidate, Heron Data offers significant equity upside potential (~53% expected return over 2 years), but carries high risk from incumbent giants and reliance on sustained hypergrowth.

Last updated: July 19, 2026

Bull (20%)+205%

Heron maintains hypergrowth and IPO anticipation, supporting a 15x revenue multiple on $14.3M ARR, yielding a $214M exit (3.2x entry). Upside net of 20% dilution.

Base (45%)+53%

Growth decelerates toward public comp range; 8x multiple on $14.3M ARR gives $114M exit (1.73x entry). Dilution reduces net upside to 53%.

Bear (35%)-33%

Growth disappoints, multiple compresses to 4x; $57M exit is below entry. After 20% dilution, common stock loses 33%.

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Funding Intensity

27%

Total funding $17.8M vs estimated valuation $66M creates 27% liquidation preference overhang.

Dilution Risk

moderate

Series A raised July 2025; with strong growth, a Series B within 2 years could dilute existing holders by ~20%.

Secondary Liquidity

none

No secondary trading activity reported; liquidity expected only at exit (IPO or acquisition).

Operations — 3 roles

Engineering — 2 roles

View all 8 open roles at Heron Data →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Heron plan to differentiate against Google and Amazon's document AI offerings?”

  • 2

    “What is the unit economics per document processed and how does it improve with scale?”

  • 3

    “What is the expected timeline to liquidity and how does the equity structure (common stock) align with employee incentives?”

Community

Valuation Sentiment

Our model estimates +53% 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.