-90%

est. 2Y upside i

HR TechSeries A

Rank

#3960

Sector

HR Tech

Est. Liquidity

~10Y

Data Quality

Data: Medium

This equity offer holds no realistic upside; the company is in the process of being dissolved into Adecco France.

Last updated: July 3, 2026

Bull (10%)0%

Adecco reverses dissolution or equity converts to Adecco shares at par, resulting in break-even. Unlikely given current merger proceedings.

Base (45%)-100%

Dissolution proceeds as planned, common equity is wiped out. Preference stack of $14.3M over $70.2M valuation provides no recovery for common.

Bear (45%)-100%

Further deterioration leads to zero recovery. High incumbent threat from Adecco and regulatory barriers accelerate dissolution.

Est. time to liquidity~10.0 years

Preference Stack Risk

high

Funding Intensity

20%

Total funding of $14.3M represents 20.4% of the $70.2M valuation, creating a high preference overhang that subordinates common stock.

Dilution Risk

low

No further fundraising expected given dissolution; no dilution from new rounds.

Secondary Liquidity

none

No secondary market exists; company is private and being absorbed.

Questions to Ask at the Interview

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

  • 1

    “How does the Adecco dissolution timeline affect the equity grant and its potential conversion?”

  • 2

    “What is the company's standalone growth plan given the impending merger?”

  • 3

    “Can you share the latest 409A valuation and any secondary market activity?”

Community

Valuation Sentiment

Our model estimates -90% 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.