-69%

est. 2Y upside i

CybersecuritySeries A

Security auditing for Web3

Rank

#2622

Sector

Blockchain Security, Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Medium

Quantstamp operates in a rapidly growing and critical blockchain security market with a strong competitive moat and notable customers.

Last updated: March 10, 2026

Bull (30%)+213%

Quantstamp leverages its strong moat and notable customer base to aggressively expand into emerging Web3 security segments like Layer 1 and gaming, achieving 100% YoY revenue growth to $16M by 2028. This market leadership and critical infrastructure role justify a premium 200x revenue multiple, pushing valuation to $3.2B, representing a +213% upside.

Base (30%)+7%

Quantstamp maintains its position in smart contract auditing, growing revenue at the broader market rate of 66% YoY to $10.9M by 2028. However, market rationalization of high growth multiples leads to a valuation of $1.09B at 100x revenue, resulting in a modest +7% upside.

Bear (40%)-80%

Persistent regulatory concerns from the SEC settlement and intensifying competition commoditize core auditing services, slowing revenue growth to 30% YoY to $6.76M by 2028. Investor risk aversion leads to a significantly reduced 30x revenue multiple, resulting in a valuation of $202.8M and an -80% downside, severely impacting common stock value due to liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

moderate

Investors hold approximately $150 million in liquidation preferences, which is 14.7% of the $1.02 billion valuation.

Dilution Risk

moderate

As a Series A stage company (or post-Series A valuation event) with current revenue, Quantstamp will likely require additional funding rounds to scale, leading to further dilution for existing equity holders.

Secondary Liquidity

limited

Secondary trading for Quantstamp shares is available for accredited investors through platforms like Forge and Nasdaq Private Market, and employees can list shares, but it is not an active, broad market.

Other — 1 role

View all 1 open roles at Quantstamp →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “Given the extremely high current valuation multiple relative to revenue, how does Quantstamp plan to demonstrate a path to justifying this valuation to public market investors, especially considering the competitive landscape with players like CertiK and OpenZeppelin?”

  • 2

    “The SEC settlement regarding the QSP token was a significant event. How has the company addressed the regulatory challenges since then, and what is the strategy to ensure future compliance and investor confidence, particularly as you pursue an IPO?”

  • 3

    “With the blockchain security market growing rapidly across various segments like DeFi, gaming, and Layer 1, what specific product innovations or market expansion strategies will drive Quantstamp's revenue from $4M to a scale that supports a multi-billion dollar public market valuation within the next 2-3 years?”

Community

Valuation Sentiment

Our model estimates -69% 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.