+5%

est. 2Y upside i

HealthcareSeries D+

A mental health benefits platform for employers.

Rank

#1930

Sector

Health Care Technology

Est. Liquidity

~3Y

Data Quality

Data: Medium

Given moderate expected upside (~5%) and high risk, this equity position is speculative.

Last updated: July 3, 2026

Bull (20%)+83%

With strong moat and TAM growth, exit multiple could expand to 6x, yielding 103% enterprise upside; net of 20% dilution gives 83% upside.

Base (45%)+15%

Exit multiple settles at 4x, net of 20% dilution yields 15.3% upside.

Bear (35%)-52%

Multiple compresses to 2x due to competitive threats and data breach; net of dilution yields -52.3% upside; preference not triggered above total funding.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Funding Intensity

14%

Total preferred liquidation preference of $167.4M represents 14% of current valuation.

Dilution Risk

high

Latest round was 5+ years ago; high burn suggests a new round within 2 years, typically causing 15-25% dilution.

Secondary Liquidity

none

No recent secondary trading activity; valuation based on analyst estimate.

Other — 12 roles

View all 12 open roles at Modern Health →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Modern Health plan to differentiate against incumbents like Lyra and Spring Health?”

  • 2

    “What is the unit economics per customer and how does the subscription model scale?”

  • 3

    “Given the recent data breach, what is the company's strategy to rebuild trust and ensure compliance?”

Community

Valuation Sentiment

Our model estimates +5% 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.