-60%

est. 2Y upside i

Series C

Rank

#2245

Sector

Analytics

Est. Liquidity

~3Y

Data Quality

Data: Medium

Statespace, a Series C company with an estimated $250M valuation on $8M revenue (31.25x multiple), presents a moderate upside opportunity with higher risk.

Last updated: March 10, 2026

Bull (30%)+175%

Statespace successfully expands its digital health offerings and significantly grows its Playerbase subscription platform, driving revenue to over $40M by 2028. This strong performance, coupled with continued Aim Lab user growth, justifies a $687.5M valuation, representing a 175% upside for equity holders.

Base (25%)+75%

Statespace continues to grow Aim Lab's premium features and sees steady adoption of Playerbase, reaching approximately $25M in revenue within two years. The company maintains its competitive position, leading to an exit valuation of $437.5M, providing a 75% upside.

Bear (45%)-65%

Growth slows due to increased competition from major gaming companies developing in-house training tools, or slower-than-expected traction in digital health. A flat or down round results in an exit valuation of $87.5M, wiping out most common stock value given the $111M in liquidation preferences.

Est. time to liquidity~2.5 years

Preference Stack Risk

severe

Investors hold $111M in liquidation preferences ahead of common stock, representing 44.4% of the estimated $250M valuation.

Dilution Risk

high

As a Series C company, further funding rounds are likely before an exit, which will lead to additional dilution for existing equity holders.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for Statespace equity at this time.

View all 43 open roles at Statespace →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

  • 1

    “Given the 'medium' incumbent threat from major gaming companies, what specific strategies are in place to maintain and grow market share against potential in-house solutions from partners like Riot Games or Ubisoft?”

  • 2

    “With current revenue at ~$8M and a high estimated valuation, what is the detailed roadmap for achieving significant revenue growth (e.g., 5x or more) over the next 2-3 years, particularly focusing on the monetization of Aim Lab and the scaling of Playerbase and digital health initiatives?”

  • 3

    “Considering the Series C funding and the estimated preference stack, how does Statespace plan to manage future dilution, and what is the anticipated timeline and strategy for a liquidity event that would provide meaningful returns for common stock holders?”

Community

Valuation Sentiment

Our model estimates -60% 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.