Token Security

+52%

est. 2Y upside i

CybersecuritySeries A

Token is the new approach designed for the identity boom era. Securing your cloud environment starts with protecting the identities – human, and non-human – that access your machines.

Rank

#953

Sector

Cybersecurity

Est. Liquidity

~5Y

Data Quality

Data: Low

Token Security offers a potential 2-year equity upside of ~52%, but with high uncertainty due to missing valuation data and growth metrics.

Last updated: July 19, 2026

Bull (30%)+109%

Bull case: Exit multiple expands to 20x due to IPO window and category leadership in AI agent security. Exit value $229M, net upside 109% after 20% dilution.

Base (40%)+52%

Base case: Multiple converges to comp average of 15x, exit value $172M, net upside 52% after dilution. Revenue grows to $11.45M.

Bear (30%)-6%

Bear case: Multiple compresses to 10x due to competitive pressure from incumbents, exit value $115M, net downside -6% after dilution. Preference stack not triggered since exit > $27M.

Est. time to liquidity~5.0 years

Preference Stack Risk

moderate

Funding Intensity

415%

Total preferred stock of $27M represents 27% of estimated $100M valuation, creating moderate overhang for common shareholders.

Dilution Risk

moderate

With $27M total funding and estimated monthly burn, a future raise within 2 years is likely, diluting common equity by 15-25%.

Secondary Liquidity

none

No secondary market implied; no recent secondary transactions or tender offers mentioned.

Other — 4 roles

View all 4 open roles at Token Security →

Last updated: February 22, 2026

Questions to Ask at the Interview

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

1
“How does Token Security differentiate from incumbent identity security platforms like Microsoft Entra ID and CyberArk?”
2
“What is the current ARR growth rate and path to profitability?”
3
“Can you explain the cap table, current valuation, and how my equity grant would be impacted by future funding rounds?”

Community

Valuation Sentiment

Our model estimates +52% 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.