+54%

est. 2Y upside i

HealthcareSeries C

The world's first digital clinic for substance use management

Rank

#925

Sector

Digital Health

Est. Liquidity

~3Y

Data Quality

Data: Low

Pelago offers high potential upside driven by rapid revenue growth in a large market, but faces significant risks from a severe preference stack, likely dilution, and stale valuation.

Last updated: July 21, 2026

Bull (30%)+180%

IPO within 2 years drives multiple to 3x projected revenue ($1.05B exit), but capped at 200% upside; after 20% dilution, net upside 180%.

Base (45%)+56%

Gradual multiple compression to 2x projected revenue ($700M exit), yielding 76% common upside before dilution; net of 20% dilution, 56% upside.

Bear (25%)-100%

Exit below $151M preferred stack leads to -100% common recovery; even with higher exit, losses are severe.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Funding Intensity

43%

Total preferred liquidation preference of $151M represents 43% of entry valuation, significantly diluting common.

Dilution Risk

high

Company is not profitable and may need additional capital before exit; assume 20% dilution from future rounds.

Secondary Liquidity

limited

No active secondary market; secondary implied value matches primary, indicating limited liquidity.

View all 11 open roles at Pelago →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Pelago maintain its 100% fees-at-risk model while scaling?”

  • 2

    “What is the path to profitability given the high growth and current losses?”

  • 3

    “What is the expected timeline for an IPO and how will that affect employee equity liquidity?”

Community

Valuation Sentiment

Our model estimates +54% 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.