-61%

est. 2Y upside i

CybersecuritySeries C

Rank

#2413

Sector

Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Medium

Hunters is a high-growth cybersecurity company (estimated current valuation of $2.5B) operating in a large, expanding market ($30.9B TAM).

Last updated: March 10, 2026

Bull (20%)+200%

Hunters successfully leverages its advanced AI and automation capabilities, including Pathfinder AI, to significantly differentiate from incumbents and capture a substantial share of the growing SOC platform market. It achieves strong market penetration, potentially reaching $750M+ ARR by 2028, justifying a $7.5B+ valuation at a 10x+ revenue multiple.

Base (35%)+60%

Hunters continues to grow, but faces strong competition from incumbents like CrowdStrike and Splunk. It maintains its niche with AI-driven automation, reaching $400M ARR by 2028. An exit at $4B would represent a 10x revenue multiple, in line with a solid, but not breakout, performance.

Bear (45%)-50%

Dominant incumbents like Microsoft and CrowdStrike aggressively integrate similar AI-driven SOC capabilities, commoditizing Hunters' offerings. Growth slows significantly, and the company struggles to expand market share. A down round or acquisition at $1.25B would result in a 50% loss for common shareholders, but the low preference stack means employees would still see some return.

Est. time to liquidity~2.5 years

Preference Stack Risk

low

Investors hold $118M in liquidation preferences, representing 4.72% of the estimated $2.5B current valuation. In an exit at or below $118M, common shareholders would receive nothing.

Dilution Risk

moderate

As a Series C company, further funding rounds are possible before an exit, which could dilute existing equity holders.

Secondary Liquidity

limited

While the CEO mentioned considering secondary deals for employees in January 2022, there is no indication of an active, broad secondary market.

View all 2 open roles at Hunters →

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 is Hunters thinking about defending its market position and pricing power against dominant incumbents like CrowdStrike and Microsoft, especially as they integrate more AI-driven capabilities?”

  • 2

    “Given the reported ~300% YoY growth, what are the key drivers for sustaining this trajectory, and how does the company plan to scale its operations and customer acquisition to meet a potential $750M+ ARR target by 2028?”

  • 3

    “With a Series C round in 2022 and total funding of $118M, what is the anticipated timeline and preferred path for a liquidity event (e.g., IPO or acquisition) for employees holding equity?”

Community

Valuation Sentiment

Our model estimates -61% 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.