-29%

est. 2Y upside i

AI & MLSeries A

Tana provides an AI-native workspace that makes interacting with computers feel natural. It combines a knowledge graph, object-based note-taking, and customizable AI agents to reduce the steps between thinking and doing. It streamlines capturing, organizing, and applying information, so people can spend less time on busywork and more time on deep work.

Rank

#3465

Sector

AI Productivity

Est. Liquidity

~5Y

Data Quality

Data: Low

Given the high valuation ($100M) relative to minimal disclosed revenue, missing growth data, and critical incumbent threat from Microsoft/Google, the expected upside over 2 years is negative (-29% net of dilution).

Last updated: July 3, 2026

Bull (25%)+40%

Assuming Tana achieves category leadership in AI-native knowledge management and enters public market via IPO, sustaining a 10x revenue multiple on projected $16M revenue yields a $160M exit; after 20% dilution, net upside is +40%.

Base (35%)-24%

With growth converging to public comp averages and multiple contracting to 6x forward revenue, the exit value is $96M; after dilution, equity return is -24%, reflecting modest revenue scale and competitive pressure.

Bear (40%)-77%

Intensified competition from Microsoft and Google crushes growth, multiple compresses to 3x, and the 1x preferred liquidation preference leaves common shareholders with only $23M of the $48M exit, a -77% return.

Est. time to liquidity~5.0 years

Preference Stack Risk

high

Funding Intensity

25%

With $25M total funding against a $100M valuation, preferred stock represents 25% of the company, implying a 1x preference that would absorb the first $25M of exit proceeds.

Dilution Risk

moderate

The company raised $14M 16 months ago; given 42 employees and low capital intensity, a follow-on round within 24 months is likely, diluting existing shareholders by an estimated 20%.

Secondary Liquidity

none

No secondary market transactions have been observed or reported, leaving common stock illiquid until an exit event.

Other — 2 roles

View all 2 open roles at Tana →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Tana plan to differentiate against Microsoft Copilot and Google Workspace Gemini's rapidly maturing AI features?”

  • 2

    “What is the current ARR and growth rate, and what unit economics support breakeven?”

  • 3

    “What is the typical dilution for a Series B round, and how does the preference stack protect earlier investors but not employees?”

Community

Valuation Sentiment

Our model estimates -29% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.