+170%

est. 2Y upside i

DevOps & InfraSeries A

Open-source platform to turn scripts into internal apps & workflows

Rank

#116

Sector

Developer Tools, Workflow Automation

Est. Liquidity

~5Y

Data Quality

Data: Low

The equity presents a high-risk, high-potential profile with ~170% expected upside over 2 years, but severe preference overhang ($15M vs $8.1M valuation) means common stock is deeply underwater.

Last updated: July 19, 2026

Bull (20%)+380%

Multiple expands to 10x on strong growth and IPO window, yielding $52.4M exit. Capped at 400% per Series A constraint, net of 20% dilution.

Base (35%)+397%

Multiple converges to 8x, exit value $41.9M, net of 20% dilution. Achievable if growth sustains and market normalizes.

Bear (45%)-100%

Multiple compresses to 2x, exit value $10.5M below $15M preference stack, common stock worth zero. High incumbent threat and preference overhang drive downside.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

55560%

Total preferred liquidation preference of $15M exceeds current valuation of $8.1M, common stock is deeply underwater.

Dilution Risk

high

Likely future fundraising within 24 months due to burn rate, diluting existing shareholders by ~20%.

Secondary Liquidity

none

No secondary market activity reported; employee equity is illiquid until an exit event.

Engineering — 3 roles

View all 3 open roles at Windmill →

Last updated: March 10, 2026

Questions to Ask at the Interview

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

  • 1

    “How does Windmill's open-source strategy drive enterprise adoption compared to Retool's closed-source model?”

  • 2

    “What is the current annual recurring revenue growth rate and how has it trended over the past 12 months?”

  • 3

    “Given the preference stack, how would a down round or moderate exit affect employee equity value?”

Community

Valuation Sentiment

Our model estimates +170% 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.