Hunters

-52%

est. 2Y upside i

CybersecuritySeries C

Rank

#3287

Sector

Cybersecurity

Est. Liquidity

~4Y

Data Quality

Data: Low

Candidate faces steep downside risk: expected equity upside of -51.7% over 2 years.

Last updated: July 3, 2026

Bull (10%)+40%

Exit multiple holds at 20x (driven by AI leadership and Pathfinder AI). Projected revenue $12M yields $240M exit. Net of 20% dilution, upside 40%.

Base (45%)-24%

Multiple converges to 12x within comp range. Exit $144M, above preference stack, but dilution reduces upside to -24%.

Bear (45%)-100%

Multiple compresses to 8x, exit $96M below $118M total funding. Preference stack wipes out common stock, yielding -100%.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

7870%

Total funding $118M vs assumed valuation $150M yields 78.7% preference overhang; common stock is junior to a large preferred stack.

Dilution Risk

high

Last round 2022 suggests capital need within 2 years; any new raise likely dilutes existing common holders by 15-25%.

Secondary Liquidity

none

No secondary market indicated; exit horizon uncertain given no IPO or M&A signals.

Other — 2 roles

Last updated: March 10, 2026

Questions to Ask at the Interview

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

1
“How does Hunters differentiate from CrowdStrike's Falcon and Microsoft Sentinel in large enterprise deals?”
2
“What is the current ARR growth rate, and what unit economics drive it?”
3
“Given the last round was 2022, what is the plan for the next raise and expected dilution?”

Our model estimates -52% upside. What do you think?

Anonymous. Do not share material non-public information.

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