+28%

est. 2Y upside i

HealthcareSeries B

Stage: early. Country: Germany

Rank

#1417

Sector

Life Sciences

Est. Liquidity

~3Y

Data Quality

Data: Medium

Qualifyze offers a moderate expected upside of ~28% over 2 years, but with significant downside risk due to severe preference stack and estimated valuation uncertainty.

Last updated: July 19, 2026

Bull (20%)+83%

Exit at 12x forward revenue ($420M enterprise value) driven by continued strong adoption and IPO window. Common equity after preference yields ~103% before dilution; after 20% dilution, net upside 83%.

Base (55%)+41%

Exit at 10x forward revenue ($350M enterprise value) as multiples converge to comp averages. Common equity returns ~61% before dilution; net 41% after dilution.

Bear (25%)-44%

Exit at 6x forward revenue ($210M enterprise value) due to increased competition or macro headwinds. Common equity after preference returns -24% before dilution; net -44% after dilution.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Funding Intensity

34%

Total funding of $85.3M represents 34% of estimated valuation, creating a significant overhang that reduces common equity returns in exit scenarios.

Dilution Risk

high

With Series B completed 18 months ago, company may need another raise within 24 months, potentially diluting common stock by 15-25%.

Secondary Liquidity

none

No secondary market activity indicated.

Other — 2 roles

View all 2 open roles at Qualifyze →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “What is the company's path to breakeven and cash runway?”

  • 2

    “How does the Audit Sharing model create network effects and barriers to entry?”

  • 3

    “What is the expected timeline for IPO or acquisition, and how does the employee equity plan handle dilution?”

Community

Valuation Sentiment

Our model estimates +28% 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.