-20%

est. 2Y upside i

Climate TechSeries B

Quilt creates home climate systems designed to move humanity off fossil fuels. As the smartest way to heat and cool your home, Quilt blends seamlessly into any home environment, offering intuitive room-by-room control, occupancy awareness for unmatched energy efficiency, and predictive technology.

Rank

#3317

Sector

Climate Tech

Est. Liquidity

~5Y

Data Quality

Data: Low

The equity has a negatively skewed expected return (~-20%) due to high incumbent threat and severe preference overhang.

Last updated: July 3, 2026

Bull (10%)+150%

Quilt gains traction with leasing partners and AI differentiation, driving valuation to $300M (+212% before 20% dilution, ~150% net).

Base (55%)0%

Modest revenue growth and multiple contraction to peer levels offset by dilution, resulting in flat net returns.

Bear (35%)-100%

Incumbents' dominance and capital intensity lead to below-liquidation exit; common equity wiped out by preference stack.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

67%

Total funding $64M vs valuation $96M, so liquidation preference covers 66% of current valuation, severely diluting common in down scenarios.

Dilution Risk

high

Capital-intensive business likely needs further funding within 2 years, diluting existing shareholders.

Secondary Liquidity

limited

A secondary market exists at $96M but is likely limited to institutional rounds; no active employee liquidity.

Other — 3 roles

View all 3 open roles at Quilt →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “How will Quilt overcome the distribution advantage of Mitsubishi and Daikin?”

  • 2

    “What are the unit economics of the leasing model and how do you scale installation?”

  • 3

    “Given strong incumbent threat, what are the board's expectations for exit timeline and liquidity?”

Community

Valuation Sentiment

Our model estimates -20% 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.