-3%

est. 2Y upside i

CybersecuritySeries A

YC's most popular security compliance platform (SOC 2, ISO 27001,…

Rank

#3689

Sector

Cybersecurity

Est. Liquidity

~5Y

Data Quality

Data: Medium

Oneleet is a high-risk, low-expected-return equity position at this valuation.

Last updated: May 5, 2026

Bull (15%)+240%

Oneleet captures meaningful share in the cybersecurity compliance market, scaling ARR from $3M to ~$28M (~93% CAGR) by 2028 and raising a Series B at ~40x ARR, implying a ~$1.1B valuation. Common stock upside is roughly +240% from the current $329M baseline, though the next dilutive round partially offsets gains.

Base (40%)0%

Steady growth to ~$12–15M ARR is offset by multiple compression from the current 110x to a more sustainable 22–25x, yielding a Series B valuation of ~$300–375M — essentially flat against today's $329M entry. Common stock holders see near-zero gain as revenue growth and multiple contraction cancel out.

Bear (45%)-85%

Vanta, Drata, and Secureframe successfully replicate Oneleet's integrated security approach, constraining ARR growth to ~$5–6M and forcing a flat or down round at compressed multiples (~$40–60M valuation). At those exit levels, the $35M in liquidation preferences consumes most of the proceeds, leaving common stock holders with approximately -85% of their entry value.

Est. time to liquidity~5.0 years

Preference Stack Risk

moderate

Funding Intensity

1060%

$35M in total liquidation preferences against a $329M valuation represents 10.6% funding intensity — moderate under normal exit conditions but effectively severe in any bear-case exit below ~$70M where common stock approaches zero.

Dilution Risk

high

As a Series A company with an estimated 4–6 years to liquidity, Oneleet will almost certainly require one to two additional funding rounds, diluting current equity holders by an estimated 30–50% before any exit.

Secondary Liquidity

none

No secondary market activity has been reported for Oneleet; employees should assume complete illiquidity until a Series B+ round, strategic acquisition, or IPO — none of which appear imminent on a 2-year horizon.

Engineering/Dev — 5 roles

Operations — 1 role

Security/Compliance — 1 role

View all 7 open roles at Oneleet →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “Vanta and Drata are well-funded and actively expanding their platforms — where specifically has Oneleet won competitive deals against them, and what is preventing those incumbents from replicating integrated pen testing?”

  • 2

    “What is the current net revenue retention rate and average contract value, and how do the labor-intensive pen testing and vCISO services affect gross margins versus the SaaS subscription component?”

  • 3

    “What is the current fully diluted option pool size, how much additional dilution should employees model before a liquidity event, and has the board discussed any secondary transaction opportunities for early employees?”

Community

Valuation Sentiment

Our model estimates -3% 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.