Tandem

-49%

est. 2Y upside i

HealthcareSeries B

Tandem is building the world's largest network of doctors, patients, and first-party data and applying AI to every step of bringing new therapies to market. Our first product ensures people get life-changing therapeutics as quickly and cheaply as possible. Founded by product leaders from Oscar Health.

Rank

#1183

Sector

AI Healthcare

Est. Liquidity

~4Y

Data Quality

Data: Medium

Tandem presents a compelling equity opportunity with strong upside potential, driven by its innovative AI solution tackling a critical bottleneck in healthcare.

Last updated: February 23, 2026

Bull (35%)+300%

Tandem achieves rapid market penetration, demonstrates superior outcomes with its AI, and secures lucrative biopharma partnerships, leading to a successful IPO or acquisition at a significantly higher valuation.

Base (20%)+25%

Tandem continues to grow steadily, but faces increased competition and slower adoption, resulting in a modest valuation increase or an acquisition at a slight premium to the current valuation.

Bear (45%)-70%

Tandem struggles to scale, incumbents enter the market aggressively, regulatory challenges impede progress, or key performance metrics fail to materialize, leading to a down round or acquisition below the current valuation where common stock holders see significant losses.

Est. time to liquidity~4.0 years

Preference Stack Risk

moderate

Investors hold $137 million in liquidation preferences ahead of common stock. In an exit at or below $137 million, employees holding common stock would likely receive little to nothing.

Dilution Risk

moderate

As a Series B company, Tandem will likely require additional significant funding rounds (Series C, D, etc.) before an IPO or major acquisition, which will lead to further dilution for existing equity holders.

Secondary Liquidity

none

At this stage, active secondary markets or tender offers for employee equity are typically non-existent, limiting early liquidity options.