+20%

est. 2Y upside i

DevOps & InfraSeries C

A simple API for managing in-app subscriptions

Rank

#2302

Sector

Developer Tools

Est. Liquidity

~3Y

Data Quality

Data: High

RevenueCat offers strong upside potential with a 20% expected 2-year return, driven by 75% ARR growth and a clear IPO path.

Last updated: July 3, 2026

Bull (25%)+113%

Revenue reaches $87.8M in 2 years; IPO window and category leadership sustain exit multiple at 13x, yielding $1.14B exit. Net of 15% dilution, common equity more than doubles.

Base (30%)+43%

Revenue grows to $87.8M; multiple converges to 9x public comp range, exit value $790M. After 15% dilution, return of 43%.

Bear (45%)-47%

Revenue disappoints or multiple compresses to 5x due to incumbent pressure; exit value $439M. After 1x preference ($100M) and 15% dilution, common stock loses 47%.

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Funding Intensity

2000%

Total preferred funding of $100M at a $500M valuation implies 20% preference overhang, meaning common stock is structurally subordinate to $100M of liquidation preference.

Dilution Risk

moderate

Given profitability and recent $50M raise, a follow-on round within 2 years is possible but not certain; 15% dilution assumed.

Secondary Liquidity

moderate

Secondary valuation closely matches primary ($496M vs $500M), indicating some secondary market activity and confidence in current pricing.

Growth — 11 roles

Engineering — 7 roles

Operations — 2 roles

Design — 1 role

View all 21 open roles at RevenueCat →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does RevenueCat defend against Apple's StoreKit 2 and Google Play Billing's native features?”

  • 2

    “What is the long-term revenue model beyond the 1% fee, especially for large customers?”

  • 3

    “Given the CEO's IPO ambition, what is the expected timeline and how will employee equity be structured pre-IPO?”

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.