-1%

est. 2Y upside i

Series A

We’re a technology company that partners with local Parks & Rec departments and community institutions to enable people to play more. We want to make it as easy as possible for everyone to access sports facilities, pick up new hobbies, and connect with their community through these activities.

Rank

#2318

Sector

Enterprise Software

Est. Liquidity

~5Y

Data Quality

Data: Low

Equity has modest expected upside (~0%) but high risk.

Last updated: July 19, 2026

Bull (20%)+39%

Exit at 10x forward revenue ($79.6M) driven by IPO window and category leadership as dominant recreation platform, but diluted 20%.

Base (50%)+7%

Exit at 8x forward revenue ($63.6M) converging to public comp multiples, net of dilution.

Bear (30%)-40%

Multiple compression to 5x forward revenue ($39.8M) due to competitive pressure and slower growth, net of dilution. Preference stack not triggered as exit above $17.2M.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

3440%

Total funding of $17.2M represents 34% of assumed $50M valuation, creating a severe preference overhang that could dilute common in a down round.

Dilution Risk

high

With $17.2M total funding and ~69 employees, runway likely <24 months; subsequent rounds could dilute current equity by 20%+.

Secondary Liquidity

none

No secondary market exists; liquidity only via acquisition or IPO, which is unlikely within 2 years.

Questions to Ask at the Interview

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

  • 1

    “What is your customer acquisition cost and how have unit economics evolved since Series A?”

  • 2

    “How do you plan to differentiate from ACTIVENet and RecDesk over the next 2 years?”

  • 3

    “What is the expected timeline to profitability and how does the equity grant align with liquidity events?”

Community

Valuation Sentiment

Our model estimates -1% 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.