Miter

+500%

est. 2Y upside i

Vertical SaaSSeries B

Miter is an HCM, field operations, and expense management platform built for contractors. Driven by a vision of a better built world, Miter empowers the next generation of contractors to strengthen their workforce, control job costs, and accelerate jobsite execution. The platform connects people, projects, and payments, enabling contractors to build with confidence.

Rank

Sector

Construction Tech / Vertical SaaS

Est. Liquidity

~5Y

Data Quality

Data: Medium

Miter offers extraordinary potential upside due to 200% growth and low valuation, but risk is high from dilution and preference stack.

Last updated: July 19, 2026

Bull (30%)+300%

If Miter sustains hypergrowth and reaches IPO within 2 years, revenue could hit $45M with multiple expanding to 12x, implying a $540M exit. After ~20% dilution, net upside is capped at 300% per stage constraints.

Base (50%)+1091%

In a steady-state scenario, Miter's revenue grows to $45M, and the trading multiple converges to 9x, yielding a $405M exit. After 20% dilution, the net upside is approximately 1091%.

Bear (20%)+429%

If Miter faces competitive pressure or slows to sub-100% growth, revenue reaches $45M (same projection) but multiple compresses to 4x, resulting in a $180M exit. After dilution, net upside is 429%, with preference stack satisfied.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

140%

Total funding of $38M exceeds current valuation of $27.2M, meaning preferred stack is severe and common equity is underwater on a liquidation basis if exit below $38M.

Dilution Risk

high

Given $23M Series B raised 13 months ago, runway may require additional financing within 2 years, potentially diluting common by 20%.

Secondary Liquidity

none

No secondary market activity reported.

Engineering — 3 roles