+62%

est. 2Y upside i

Series C

General automation platform for integrating and automating business processes

Rank

#938

Sector

Enterprise Software

Est. Liquidity

~4Y

Data Quality

Data: Low

Job candidate should expect low equity value appreciation (61.6% expected upside) given slow growth and heavy preference overhang.

Last updated: July 3, 2026

Bull (10%)+200%

Exit multiple expands to 8x on $84M revenue ($672M) minus 20% dilution ($537.6M). Capped at 200% per Series C+ stage cap. Upside driven by AI agent adoption and IPO window.

Base (45%)+229%

Exit multiple recovers to 4x on $84M revenue ($336M) minus 20% dilution ($268.8M). Convergence toward public comp multiples, but growth remains low.

Bear (45%)-100%

Exit value of $126M (1.5x multiple) below $150M liquidation preference. Common stock worthless. High preference stack and weak growth drive downside.

Est. time to liquidity~4.0 years
Adjusted for competitive dynamics: 54% (raw: 62%, adjustment: -8%)

Preference Stack Risk

severe

Funding Intensity

183%

Total funding of $150M exceeds current valuation of $82M, so any exit below $150M yields nothing for common.

Dilution Risk

high

Capital likely required to fund operations, diluting existing shareholders by ~20% in next 2 years.

Secondary Liquidity

limited

Recent secondary trade at $82M indicates some liquidity, but volume is likely restricted for employees.

Other — 1 role

View all 1 open roles at Tray.io →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “What specific initiatives will accelerate ARR growth beyond the current 10%?”

  • 2

    “How does the average contract value of $23k scale with enterprise adoption?”

  • 3

    “Given the $150M liquidation preference, what is the realistic timeline to a liquidity event?”

Community

Valuation Sentiment

Our model estimates +62% 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.