-71%

est. 2Y upside i

ProductivityDevOps & InfraSeries B

Raycast is a developer of a command bar software intended to assist developers to control their tools. The company's software offers a search bar to quickly search commands and the built-in store to discover and install extensions such as Jira or GitHub, enabling clients to make easy access to various applications.

Rank

#3144

Sector

Productivity Software, Developer Tools

Est. Liquidity

~3Y

Data Quality

Data: Medium

Raycast presents a moderate upside opportunity for a job seeker, with an estimated 16% expected return over a two-year horizon.

Last updated: March 10, 2026

Bull (10%)+200%

Raycast's successful expansion into Windows and iOS, coupled with advanced AI features, drives user growth to over 2 million active users and annual revenue to $25M by 2028. This market leadership and strong product differentiation justify a $450M valuation, representing a 3x return from the current valuation.

Base (55%)+50%

Raycast maintains its strong position among macOS power users and developers, achieving moderate success in Windows and iOS expansion. Annual revenue grows steadily to $12M by 2028, leading to an acquisition or next funding round at a $225M valuation, a 1.5x return.

Bear (35%)-70%

Intense competition from Microsoft Copilot and Apple Spotlight, combined with slower-than-expected adoption on new platforms, limits Raycast's growth. Annual revenue stagnates around $7M, leading to a down round or acquisition at $45M, resulting in minimal to no return for common stock due to $47.8M in liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Investors have put in $47.8M in total funding. In an exit at or below the estimated current valuation of $150M, their liquidation preferences would be substantial, potentially leaving little to no value for common shareholders, especially in a bear case exit at $45M.

Dilution Risk

moderate

As a Series B company, Raycast will likely require at least one more significant funding round before a potential liquidity event, which will lead to further dilution for existing equity holders.

Secondary Liquidity

none

There is no public information suggesting active secondary markets or tender offers for Raycast equity.

Design — 1 role

General — 1 role

View all 2 open roles at Raycast →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Raycast plan to differentiate its AI features and cross-platform experience to effectively compete with deeply integrated offerings like Microsoft Copilot and Apple Spotlight, especially given their significant resources and existing user bases?”

  • 2

    “With an estimated annual revenue of $5.2M and a strategic focus on expanding to Windows and iOS, what are the key milestones and revenue targets for the next 24 months, and how will the company measure success in these new markets?”

  • 3

    “Given the Series B funding and the current market conditions, what is the anticipated timeline for a liquidity event (e.g., acquisition or IPO), and how is the company thinking about managing potential dilution for employees in future funding rounds?”

Community

Valuation Sentiment

Our model estimates -71% 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.