-76%

est. 2Y upside i

Series B

Open source business intelligence and analytics platform

Rank

#3900

Sector

Business Intelligence

Est. Liquidity

~3Y

Data Quality

Data: Medium

Metabase presents a risky equity opportunity for a job seeker.

Last updated: March 10, 2026

Bull (10%)+175%

Metabase successfully leverages its open-source model and new features like AI SQL generation and Data Studio to significantly expand its market share, especially in embedded analytics. Revenue grows to over $100M ARR by 2028, justifying an $825M+ valuation at a premium multiple due to strong product-led growth and community adoption.

Base (45%)+25%

Metabase maintains its niche in the BI market, growing steadily but facing intense competition from incumbents. Revenue reaches approximately $50M ARR by 2028, leading to a $375M valuation, which is a modest increase from the current estimated valuation.

Bear (45%)-60%

Dominant incumbents like Microsoft Power BI and Google Looker intensify competition, or future security vulnerabilities erode trust. Growth stalls, and the company struggles to convert open-source users to paid tiers. A down round reduces the valuation to $120M, significantly impacting common stock value given $51M in liquidation preferences.

Est. time to liquidity~3.0 years
Adjusted for competitive dynamics: -13% (raw: -76%, adjustment: -15%)

Preference Stack Risk

high

Investors hold $51M in liquidation preferences ahead of common stock, representing 17% of the estimated current $300M valuation.

Dilution Risk

high

As a Series B company, Metabase will likely require at least one more significant funding round, leading to further dilution for common shareholders.

Secondary Liquidity

limited

Secondary liquidity for Series B companies is typically limited, with no active public market for shares.

Engineering — 5 roles

Success Engineering — 4 roles

Marketing and Growth — 2 roles

Product and Design — 2 roles

Sales — 2 roles

Operations — 1 role

People Operations — 1 role

View all 17 open roles at Metabase →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “Given the high incumbent threat from Microsoft Power BI and Google Looker, how does Metabase plan to differentiate and capture significant market share beyond its current 0.68% in data visualization?”

  • 2

    “With a reported ARR of ~$25M, what are the specific strategies to accelerate growth and scale to a multi-hundred-million dollar ARR business in the next 2-3 years, particularly considering the potential for 'hidden costs' in your pricing model for large customers?”

  • 3

    “As a Series B company with $51M in total funding, what is the anticipated timeline and strategy for a liquidity event for employees, and how is the company addressing potential future dilution?”

Cluster Peers

Expected Upside

Sigma Computing
-17%
Starburst
-53%
dbt Labs
-71%
ThoughtSpot
-73%

Community

Valuation Sentiment

Our model estimates -76% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.