Kodem

+77%

est. 2Y upside i

CybersecuritySeries A

Rank

#658

Sector

Cybersecurity

Est. Liquidity

~2Y

Data Quality

Data: Low

Kodem offers significant upside potential (77% expected over 2 years) driven by its unique runtime intelligence approach in a large market.

Last updated: July 19, 2026

Bull (30%)+218%

Exit multiple expands to 20x (IPO window or category leadership) driving exit value to $243M, net of 20% dilution.

Base (45%)+83%

Exit multiple converges to 12x, inline with comps, exit value ~$146M, net of 20% dilution.

Bear (25%)-100%

Multiple compresses to 4x, exit value $48.6M, below preference of $40M, common stock recovers 0%.

Est. time to liquidity~2.0 years

Preference Stack Risk

severe

Funding Intensity

56%

Total preferred liquidation preference of $40M represents 55.5% of the estimated entry valuation ($72M).

Dilution Risk

high

The company raised $25M in March 2026, which is not reflected in the extracted data but suggests further dilution beyond the 20% assumed.

Secondary Liquidity

none

No secondary market activity noted; early liquidity unlikely.

Other — 7 roles

Last updated: February 18, 2026

Questions to Ask at the Interview

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

1
“How does Kodem's runtime intelligence differ from traditional SAST/DAST and what is the customer acquisition strategy?”
2
“What is the current ARR growth rate and net dollar retention?”
3
“What is the expected timeline for a liquidity event and how has the cap table evolved with the recent $25M round?”

Our model estimates +77% 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.