-31%

est. 2Y upside i

DevOps & InfraAI & MLProductivitySeries B

Moderne is a developer collaboration platform for automated code refactoring and analysis that migrates, maintains, and secures source code with speed and accuracy at mass scale. Code remediations, updates, and migrations that can take many months of manual work can be done in minutes. Founders of OpenRewrite.

Rank

#210

Sector

Developer Tools, Artificial Intelligence, Business/Productivity Software

Est. Liquidity

~4Y

Data Quality

Data: Medium

Moderne presents a strong upside opportunity driven by its unique technology, significant customer growth (250% in 2024), and a large, expanding market for AI-driven code modernization.

Last updated: March 10, 2026

Bull (38%)+300%

Moderne leverages its unique Lossless Semantic Tree (LST) and OpenRewrite foundation to become the dominant platform for mass-scale enterprise code modernization, expanding into new verticals and product lines like advanced AI agent orchestration. This drives significant revenue growth, justifying a $600M+ valuation at a premium multiple, well above the current $150M.

Base (39%)+100%

Moderne continues to grow steadily, capturing significant share in its niche of enterprise code modernization and technical debt remediation. It achieves strong revenue growth, maintaining high gross margins, which supports a $300M valuation, representing a solid 2x return from the current valuation.

Bear (23%)-50%

Incumbents like Microsoft or AWS, having integrated OpenRewrite, launch more comprehensive and aggressively priced competing solutions that directly target Moderne's enterprise customers. This commoditizes Moderne's core offering, slowing growth and leading to a down round or acquisition at a reduced valuation of $75M, significantly impacting common stock value due to liquidation preferences.

Est. time to liquidity~3.5 years

Preference Stack Risk

severe

Investors hold $50M in liquidation preferences ahead of common stock, representing 33.3% of the current $150M valuation.

Dilution Risk

high

As a Series B company, Moderne will likely raise additional funding rounds before a liquidity event, which will result in further dilution of existing equity holders.

Secondary Liquidity

none

There is currently no active secondary market or tender offers for Moderne's equity.

Other — 2 roles

View all 2 open roles at Moderne →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How is Moderne planning to evolve its product strategy to maintain its competitive edge and prevent direct competition from large incumbents like Microsoft and AWS, especially given their current integration of OpenRewrite?”

  • 2

    “With the reported 250% customer growth in 2024, what are the primary drivers of this growth, and what specific strategies are in place to scale revenue and expand into new enterprise segments over the next 2-3 years?”

  • 3

    “Given the Series B funding and the current valuation, what is the company's anticipated timeline for a liquidity event, and how does Moderne plan to manage potential dilution for employees with common stock in future funding rounds?”

Community

Valuation Sentiment

Our model estimates -31% 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.