Smokeball
+106%
est. 2Y upside i
Legal practice management software with automatic time tracking
Rank
#536
Sector
Legal Technology
Est. Liquidity
~4Y
Data Quality
Data: MediumWith a current valuation of $47M (3x revenue) and moderate growth potential, the expected 2-year upside is ~106% net of dilution.
Last updated: July 19, 2026
Revenue reaches $18.65M, exit multiple expands to 8x due to IPO window and category leadership from AI and partnerships, yielding exit value $149M, net 197% after 20% dilution.
Revenue grows to $18.65M, multiple converges to 6x (near comp range), exit $112M, net 118% after dilution.
Revenue disappoints or multiple contracts to 4x, exit $75M, net 39% after dilution; preference stack not triggered.
Preference Stack Risk
highFunding Intensity
6380%Total preference overhang of $30M against $47M valuation, implying preferred shares hold significant liquidation preference.
Dilution Risk
highNo new round since 2021, likely requires raise within 2 years causing 15-25% dilution.
Secondary Liquidity
noneNo secondary trading market observed.
Questions to Ask at the Interview
Strategic questions based on Smokeball's data — designed to show you've done your homework.
- 1
“How will Smokeball compete against Clio's dominant market share?”
- 2
“What is the customer acquisition cost and LTV for law firms?”
- 3
“How do you evaluate the liquidity timeline and dilution risk of this equity?”
Community
Valuation Sentiment
Our model estimates +106% 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.