-18%

est. 2Y upside i

CybersecuritySeries B

Automated security compliance platform for SOC 2 ISO and HIPAA

Rank

#3885

Sector

Cybersecurity

Est. Liquidity

~4Y

Data Quality

Data: Medium

Secureframe is a high-risk equity bet for a job candidate.

Last updated: May 5, 2026

Bull (18%)+100%

Secureframe's March 2026 defense/CMMC platform gains rapid traction with DoD contractors, scaling ARR to $30M+ by 2028; a strategic acquirer (defense prime or security incumbent) pays ~$600M (~20x ARR). After $79M in liquidation preferences, common shareholders recover ~$521M—approximately +108% vs. the $250M reference valuation.

Base (42%)-10%

Secureframe grows modestly to $10–12M ARR but cannot sustain its 2022 multiple; a sale or recapitalization near $300M leaves common with ~$221M after preferences—roughly a -11% loss vs. the $250M entry point. The 4-year funding gap and $6M ARR on $79M raised severely limits negotiating leverage in any deal process.

Bear (40%)-80%

~$15–20M annual burn against $6M ARR depletes cash, forcing a distressed acquisition at $100–120M; $79M in liquidation preferences absorbs nearly all proceeds, leaving common shareholders with $21–41M—an 83–92% loss versus the $250M valuation. No new round in 4 years makes this scenario more probable than typical Series B companies.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

32%

$79M in total liquidation preferences equals 31.6% of the $250M stated valuation; at exits below $300M, common stockholders recover less than their implied entry-price value.

Dilution Risk

high

Given the funding gap and burn-to-revenue imbalance, a future financing round is likely and could be a down round at sub-$250M, materially diluting existing common equity holders.

Secondary Liquidity

none

No evidence of organized secondary market activity; with no new financing in 4 years and limited revenue scale, institutional secondary buyers are unlikely to provide liquidity.

Sales — 8 roles

Customer Success — 2 roles

Engineering — 2 roles

Product — 2 roles

Marketing — 1 role

Operations — 1 role

View all 16 open roles at Secureframe →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “Secureframe last raised in Feb 2022—what is the current cash runway in months, and is the company profitable or approaching cash-flow breakeven at $6M ARR?”

  • 2

    “What is net revenue retention, and how does the business solve the post-certification churn problem given Vanta and Drata are also targeting your customer base with deeper pockets?”

  • 3

    “What is the current 409A FMV for option grants, and has there been any internal repricing or secondary transaction activity that would signal how investors view the company's current worth relative to the $250M Series B valuation?”

Community

Valuation Sentiment

Our model estimates -18% 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.