-80%

est. 2Y upside i

AI & MLSeries A

Mage develops an open-source data pipeline tool for transforming and integrating data. It integrates and synchronizes data from 3rd party sources. It enables users to build real-time and batch pipelines to transform data using Python, SQL, and R. Users can run, monitor, and orchestrate thousands of pipelines without losing sleep.

Rank

#3629

Sector

Data Engineering, AI/ML Tools

Est. Liquidity

~5Y

Data Quality

Data: Medium

Mage operates in a high-growth sector with strong gross margins and a moderate competitive moat, driving a potential 50% expected upside.

Last updated: March 10, 2026

Bull (20%)+100%

Mage's AI-powered automation and open-source adoption drive significant market penetration, particularly in the rapidly expanding AI Software Market. Revenue accelerates to $50M+ by 2028, justifying a $480M valuation (4x current estimated $120M) as it becomes a critical tool for AI engineering teams.

Base (35%)+75%

Mage continues to grow steadily, securing its niche in the data engineering market by offering a compelling alternative to more complex or expensive solutions. Revenue reaches $25M-$30M by 2028, leading to a $210M valuation (1.75x current estimated $120M) as it maintains a strong position in the mid-market.

Bear (45%)-80%

Dominant incumbents like Fivetran and cloud providers intensify their focus on AI/ML data pipelines, commoditizing Mage's core offerings. Growth stalls, and a challenging funding environment leads to a down round, with valuation dropping to $24M (an 80% decrease), significantly eroding common stock value given the $15M in liquidation preferences.

Est. time to liquidity~5.0 years

Preference Stack Risk

moderate

Investors hold $15M in liquidation preferences ahead of common stock, representing 12.5% of the estimated $120M valuation.

Dilution Risk

high

As a Series A company, Mage will likely require multiple additional funding rounds, leading to significant future dilution for common stock holders.

Secondary Liquidity

none

There is currently no active secondary market or tender offers for Mage's private shares.

View all 10 open roles at Mage →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “Given the strong presence of incumbents like Fivetran and cloud-native solutions, how does Mage plan to differentiate and capture significant market share in the data integration and transformation space over the next 2-3 years, especially with Mage Pro?”

  • 2

    “With a reported ~$9M in revenue, what are the key growth levers Mage is focusing on to scale to $50M+ ARR, particularly in expanding beyond its current notable customers and leveraging its open-source community?”

  • 3

    “As a Series A company with $15M in total funding, what is the anticipated timeline for future funding rounds and potential liquidity events, and how does the company communicate equity value and dilution to employees?”

Community

Valuation Sentiment

Our model estimates -80% 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.