-80%

est. 2Y upside i

DevOps & InfraSeries B

Deploy secure, scalable cloud infrastructure in minutes not days

Rank

#3576

Sector

Developer Tools, Cloud Computing, Platform Engineering

Est. Liquidity

~2Y

Data Quality

Data: Medium

The common stock is severely underwater: the $3.6M current valuation is less than one-third of the $12.5M liquidation preference, so an exit below $12.5M wipes out common shareholders.

Last updated: August 4, 2026

Bull (10%)+105%

Strategic acquisition at 12x forward ARR (~$20.6M exit) driven by platform-engineering category leadership/IPO window. Common receives ~$8.1M after the $12.5M preference, a ~125% gross return (net ~105% after 20% dilution).

Base (45%)-100%

Revenue grows to ~$1.72M by 2028 but exit at 6x forward ARR yields ~$10.3M, below the $12.5M liquidation preference. Common stock recovers $0 (-100%).

Bear (45%)-100%

Growth disappoints and multiple compresses to 3x forward ARR (~$5.2M exit). Exit value is deeply below the preference stack, so common shares are worthless.

Est. time to liquidity~2.0 years

Preference Stack Risk

severe

Funding Intensity

34720%

Total preferred liquidation preference of $12.5M is 3.5x the $3.6M current valuation, leaving common stock with zero recovery unless exit value exceeds $12.5M.

Dilution Risk

high

With ~$1.2M ARR and $12.5M raised, a dilutive raise within 24 months is likely; modeling assumes 20% dilution, though a down round could result in greater dilution.

Secondary Liquidity

limited

The $3.6M valuation came from a 2025 M&A offer, not an active employee secondary market; liquidity is likely tied to a sale event.

Questions to Ask at the Interview

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

  • 1

    “What is the current capital structure, and how does the $12.5M preferred liquidation preference sit relative to the $3.6M valuation mark?”

  • 2

    “What are the last 12 months of ARR growth and net revenue retention, and why was the M&A offer valued at only $3.6M?”

  • 3

    “What is the expected timeline to liquidity, and are there any employee secondary sale opportunities?”

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.