+32%

est. 2Y upside i

E-CommerceSeries B

Vori is a modern operating system for supermarkets

Rank

#2392

Sector

Retail Technology, Supply Chain Management Software

Est. Liquidity

~5Y

Data Quality

Data: Low

Vori's 81% ARR growth and fresh Series B are genuine bullish signals, but the equity risk profile is elevated for a job candidate receiving common stock.

Last updated: May 14, 2026

Bull (20%)+200%

Vori sustains ~80% ARR growth, reaching ~$22M ARR by mid-2028, and raises a Series C priced at 15x ARR (~$330M valuation), producing a ~200% return on grant-date equity value. The Fujitsu self-checkout partnership and AI-native platform lock in the 22,000+ US independent grocery stores, and payments volume compounds store-level GMV into a high-margin flywheel.

Base (40%)+45%

Growth moderates to 50-55% annually, ARR reaches ~$16M by mid-2028, and the company re-rates at 8-10x ARR (~$145-160M), implying ~45% equity upside from the estimated $110M post-money. Steady indie-grocer wins continue but expansion to larger regional chains is slower than expected, and competitive pressure from better-funded incumbents keeps revenue multiples compressed.

Bear (40%)-65%

Growth decelerates to 20-25% as Walmart and Amazon deepen grocery-tech investments, shrinking Vori's addressable niche; a flat or down-round at $55-75M valuation leaves common stockholders nearly wiped out against the $50M liquidation preference stack. In a distressed sale at or below the $50M preference threshold, common equity holders recover little or nothing.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

46%

$50M in total funding sits against an estimated ~$110M post-Series B valuation, a ~45% preference overhang that must be fully cleared before common stockholders see any proceeds in a liquidation event.

Dilution Risk

high

With a Series B just closed and likely 1-2 additional funding rounds needed before a liquidity event, employees should model 30-45% cumulative dilution on top of today's cap table position.

Secondary Liquidity

none

As a 63-person Series B company in a niche vertical with no disclosed secondary activity, there is effectively no secondary market for Vori common shares within the 2-year analysis horizon.

Engineering — 2 roles

Marketing — 1 role

Product — 1 role

View all 11 open roles at Vori →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “What is Vori's current ARR and net revenue retention rate, and how much of the payments revenue is structurally at risk if a grocer migrates to a competing POS provider?”

  • 2

    “How does the revenue mix between SaaS subscription and payments evolve as customer stores scale — specifically, what is the blended take rate on payments volume and how does that compare to Toast's economics?”

  • 3

    “What is the current 409A common stock fair market value, and what are the liquidation preference terms and participation rights on the Series B preferred shares?”

Community

Valuation Sentiment

Our model estimates +32% 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.