+45%

est. 2Y upside i

HR TechDevOps & InfraSeries A

Unified API for HR, payroll and recruiting software

Rank

#1838

Sector

HR Tech, Developer Tools

Est. Liquidity

~5Y

Data Quality

Data: Medium

Kombo is a high-quality Series A infrastructure bet with a credible moat, but the 2-year equity window is tight for illiquid common stock.

Last updated: May 5, 2026

Bull (25%)+160%

Kombo scales from $6M to $18–20M ARR within two years by deepening U.S. penetration and expanding into adjacent verticals post-Series A; a Series B closes at ~$230M post-money (~12x forward ARR), delivering roughly 160% upside on common stock after absorbing ~20% new-round dilution.

Base (50%)+45%

Kombo doubles ARR to ~$12M by 2028 at a moderate but credible pace, supporting a Series B at ~$130M post-money (~11x ARR); common stock sees roughly 45% upside after preference overhang and incremental dilution from the new round.

Bear (25%)-70%

Growth stalls below $9M ARR as Merge, Nango, and potential platform-native plays intensify pressure; the company is forced into a flat or down round, and common equity is severely impaired — recovering roughly 30 cents on the dollar after the $30M preference stack is satisfied.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

33%

Total funding of $30M against an estimated ~$90M post-money valuation represents approximately 33% of the cap table in liquidation preferences that investors recover first before common stock sees a dollar.

Dilution Risk

high

As a freshly closed Series A, Kombo will likely raise at least one or two more primary rounds before any liquidity event, each round diluting common stockholders by an estimated 15–25%.

Secondary Liquidity

none

At Series A stage with no disclosed secondary trading activity, common shares are effectively illiquid until a future financing round, strategic acquisition, or IPO — most likely 4–6 years away.

Commercial — 5 roles

Engineering — 4 roles

Customer Success — 1 role

Product — 1 role

View all 11 open roles at Kombo →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “What is the fully diluted post-money valuation from the February 2026 Series A, and how large is the employee option pool as a percentage of fully diluted shares?”

  • 2

    “What is your net revenue retention rate today, and at what ARR run-rate thresholds does the usage-based pricing model begin compressing or expanding revenue per customer?”

  • 3

    “Given Merge and Nango are already competing for U.S. enterprise deals, what is the specific go-to-market wedge for North America, and how does the Berlin headquarters affect enterprise sales cycles with U.S.-headquartered buyers?”

Community

Valuation Sentiment

Our model estimates +45% 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.