+8%

est. 2Y upside i

CybersecuritySeries D+

Semgrep makes tools for software and security engineers to find bugs, detect vulnerabilities in third-party dependencies, and enforce code standards.

Rank

#1875

Sector

Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Medium

Moderate upside potential (8.4% expected) over 2 years, but high risk from incumbent competition and preference overhang.

Last updated: July 19, 2026

Bull (20%)+78%

Revenue multiple expands to 12x on strong growth and potential IPO window. Exit value $780M; after 20% dilution, equity up 77.5%.

Base (35%)+28%

Multiple converges to 9x, in line with public comps. Exit value $585M; after 20% dilution, equity up 28.1%.

Bear (45%)-38%

Multiple compresses to 5x due to incumbent competition. Exit value $325M; after 20% dilution, equity down 37.7%.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Funding Intensity

60710%

Total preferred stock of $204M represents 51.6% of current valuation; common stock is deeply subordinate.

Dilution Risk

moderate

Likely need additional funding before exit; assume 20% dilution from future rounds.

Secondary Liquidity

none

No secondary market activity reported in data.

Questions to Ask at the Interview

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

  • 1

    “How does Semgrep maintain its competitive moat against GitHub code scanning and Snyk?”

  • 2

    “What is the unit economics (LTV/CAC) and gross retention rate?”

  • 3

    “What is the expected timeline to liquidity and what benchmarks trigger it?”

Community

Valuation Sentiment

Our model estimates +8% 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.