-35%

est. 2Y upside i

DevOps & InfraSeries A

Trunk is a dev tools startup, redefining software development at scale. We aim to flatten the lost productivity curve that software projects suffer as they grow in scale and complexity. When a majority of your engineer's time is not spent on actual engineering, when the tax paid to land a new Pull Request is greater than the time to write the code - it's time for a new approach.

Rank

#3021

Sector

Developer Tools

Est. Liquidity

~4Y

Data Quality

Data: Low

Evaluate cautiously.

Last updated: July 19, 2026

Bull (15%)+40%

IPO window opens, multiple expands to 12x. Revenue grows to $10M in 24 months. Exit value $120M. After 20% dilution, upside 40%.

Base (45%)-26%

Multiple converges to 8x, revenue reaches $8.8M. Exit value $70.4M, below entry. After dilution, downside 26.1%.

Bear (40%)-73%

Multiple compresses to 4x, revenue $8.8M. Exit value $35.2M, barely above preference. After dilution, downside 73%.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

38%

Total funding $28.5M against entry valuation $75M gives 38% preference overhang, significantly diluting common proceeds in a downside exit.

Dilution Risk

high

No raise since 2022; likely need for additional funding within 24 months, implying 15-25% dilution.

Secondary Liquidity

none

No secondary market data; no transaction activity reported.

Questions to Ask at the Interview

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

  • 1

    “How does Trunk's merge queue differentiate from GitHub Actions' native solution?”

  • 2

    “What milestones are needed to reach $10M ARR and what is the current revenue run-rate?”

  • 3

    “How does the company plan to provide liquidity for employees given the stale round and no secondary market?”

Community

Valuation Sentiment

Our model estimates -35% 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.