the problem with existing frameworks
Most startup valuation frameworks were built for a different era. Revenue multiples anchor value to current financials that rarely exist at the earliest stages. Discounted cash flow models require assumptions about futures that are, by definition, unknowable. Both approaches import a logic designed for mature businesses and apply it to companies that have not yet become what they are going to be.
our approach
Our approach is different.
Rather than applying a fixed formula, our model draws on a large dataset of previously funded startups to learn the relationships between company characteristics and the valuations assigned by professional investors at the time of funding. This allows the model to surface patterns that human analysts may overlook or weight inconsistently, and to generate estimates grounded in how markets have actually behaved, rather than how a spreadsheet assumes they should.
This reflects something we believe to be true about valuation: a company's value is real, but its valuation is something different. Valuation is the price the market assigns to that value at a given moment, and price is always a function of what someone will pay. Our model does not tell you what your company is worth in any absolute sense. It tells you what companies with similar characteristics have been valued at, by real investors, in real funding rounds. A reference point, not a ground truth.
the model
We are deliberately selective about the details of our model architecture. It is trained on a substantial corpus of funding transactions across stages and regularly updated to reflect how markets move, including the broader macroeconomic conditions that shape the cost of capital and investor risk appetite at any given moment.
Like any model, ours is an input to judgment, not a replacement for it. We built it because we believe founders and investors deserve a better starting point for one of the most consequential conversations in company building.