Orca Security

orca.security →

+35%

est. 2Y upside i

CybersecuritySeries C

Agentless cloud security platform for workload and data protection

Rank

#1497

Sector

Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Medium

Orca offers a moderate expected 2-year upside of ~35% but with high risk from critical incumbent competition (Wiz, PANW, CRWD) and a severe preference stack ($640M on $1.8B valuation).

Last updated: July 3, 2026

Bull (10%)+113%

Bull case: Orca achieves 12x exit multiple on $350M revenue ($4.2B) driven by IPO window and category leadership in agentless CNAPP, net of 20% dilution yields 113% upside.

Base (45%)+74%

Base case: Orca trades at 10x forward revenue ($3.5B), converging with public comps, after 20% dilution yields 74% upside.

Bear (45%)-23%

Bear case: Multiple compresses to 5x ($1.75B) due to aggressive competition from Wiz and big tech, after 20% dilution yields -23% downside, but above preference stack.

Est. time to liquidity~3.0 years
Adjusted for competitive dynamics: 25% (raw: 35%, adjustment: -10%)

Preference Stack Risk

severe

Funding Intensity

36%

Total funding of $640M represents 35.6% of entry valuation, so preferred shareholders have a large senior claim before common stock.

Dilution Risk

high

Likely need to raise additional capital within 2 years given burn rate and no profitability, causing ~20% dilution.

Secondary Liquidity

moderate

Secondary market exists with recent pricing at $1.8B, but liquidity may be limited for employee shares.

Other — 18 roles

View all 18 open roles at Orca Security →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Orca maintain its competitive advantage against Wiz and big tech incumbents like Palo Alto Networks and CrowdStrike?”

  • 2

    “What is the current net revenue retention and customer churn rate, and how does the subscription model scale?”

  • 3

    “Given the preference stack and secondary market valuation, how should I think about the strike price and potential dilution?”

Community

Valuation Sentiment

Our model estimates +35% 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.