-97%

est. 2Y upside i

AI & MLSeries D+

Rank

#3746

Sector

Applied AI, Intelligent Document Processing

Est. Liquidity

~4Y

Data Quality

Data: Medium

Based on the analysis, the expected equity upside over 2 years is highly negative (-96.5%).

Last updated: July 19, 2026

Bull (15%)-80%

Bull case: IPO window opens, Instabase achieves category leadership, revenue grows to $67.5M by Nov 2027, exit at 8x revenue ($540M). After 1x preference ($322M), common equity estimated at $218M, but diluted 15% to $185M, down -80% from current common value of ~$918M.

Base (50%)-99%

Base case: Revenue grows to $67.5M, exit at 5x revenue ($337.5M) converging to public comp multiples. After preference, common gets ~$15.5M, diluted to $13.2M, a -99% loss.

Bear (35%)-100%

Bear case: Multiple compresses to 3x on $67.5M revenue ($202.5M exit), below $322M preferred liquidation preference, common stock recovers nothing (-100%).

Est. time to liquidity~4.0 years

Preference Stack Risk

high

Funding Intensity

26%

Total preferred liquidation preference of $322M represents 26% of current valuation, creating a high overhang for common stockholders.

Dilution Risk

moderate

With $100M raised in Jan 2025, runway is likely 2-3 years; an additional raise within 24 months is probable, diluting existing common by ~15%.

Secondary Liquidity

none

No secondary market activity reported; employees likely cannot sell until IPO or liquidity event.

Other — 3 roles

View all 3 open roles at instabase →

Last updated: September 6, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Instabase differentiate from UiPath and other RPA players in terms of AI capabilities?”

  • 2

    “What is the company's path to profitability given high burn and moderate growth?”

  • 3

    “How does the company plan to offset dilution from future funding rounds?”

Community

Valuation Sentiment

Our model estimates -97% 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.