+148%

est. 2Y upside i

Lumafield helps engineering teams work at the speed of light. Lumafield's Voyager analysis software and Atlas AI co-pilot find answers quickly and facilitate collaboration. Lumafield's Neptune industrial CT scanner arms engineers with X-ray vision, allowing them to look inside their products, inspect invisible features, and pinpoint problems before they reach customers.

Rank

#157

Sector

Manufacturing Technology

Est. Liquidity

~4Y

Data Quality

Data: Medium

This is a high-upside, high-risk equity opportunity: expected probability-weighted upside is ~148% over 2 years, driven by 200% YoY ARR growth and a projected $360M revenue base.

Last updated: August 4, 2026

Bull (25%)+200%

IPO window opens and Lumafield cements category leadership in accessible industrial CT; at 8x forward revenue on ~$360M ARR, exit value reaches ~$2.9B (>7x current valuation). Even after 20% dilution, common upside is capped at +200% by the Series C+ stage constraint.

Base (40%)+332%

Revenue compounds to $360.2M ARR with 112.5% year-2 growth; exit multiple settles at 5x forward revenue in line with comps, implying ~$1.8B exit (4.5x current valuation). After 20% dilution, common upside is +332%.

Bear (35%)-100%

Incumbent industrial-CT players (Hexagon, Thermo Fisher) aggressively compete on price, compressing forward multiple to 0.5x; implied exit value ~$180M falls below the $192.5M liquidation preference, leaving common stock worthless.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

48%

$192.5M total funding equals 48% of the $398M valuation, so common equity is severely subordinated in a downside exit.

Dilution Risk

high

Rapid growth and high capital intensity suggest a Series D equity raise within 24 months; expect 15-25% dilution.

Secondary Liquidity

limited

A secondary market exists (recent valuation at $398M) but is likely sporadic and largely restricted to existing shareholders.

Engineering — 1 role

Marketing — 1 role

Product — 1 role

View all 3 open roles at Lumafield →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How much cash runway does the $50M SVB debt facility provide, and when is the next equity raise expected?”

  • 2

    “What is the fully diluted ownership percentage for an employee at this stage, and does the Series C carry participating preferred?”

  • 3

    “Which revenue stream (hardware vs. software) is growing faster, and what is net revenue retention on Voyager?”

Community

Valuation Sentiment

Our model estimates +148% 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.