PrivatePulse·Companies·Shield AI vs Skydio

Shield AI vs Skydio: employee equity compared

Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Shield AI and Skydio.

Secondary market data updated monthly · Sources: Hiive, Forge
↑ Higher secondary premium

Shield AI

Defense · San Diego, CA · Founded 2015

AI-powered autonomous defence platform; Hivemind AI pilot software flies F-16s and MQ-9 drones without GPS or comms.

Last primary round$2.8B · Series F (2023-07)
Secondary market$3.2B (+14% vs primary)
Annual revenue$0.2B ARR · +120% YoY (very fast)
Headcount~900
Equity typeISO/NSO
Strike price range$10–$18 (depends on cohort)
Illiquidity discount~22%
Last round leadSnowpoint Ventures
Liquidity outlook

Early-stage — IPO 4–6+ years away. High-risk, high-upside equity. Secondary indication near primary round valuation. Liquidity most likely via acquisition or late-stage tender.

Key equity angle

Government-contract stability; ISO/NSO options; longer liquidity timeline vs consumer tech

Skydio

Defense · San Mateo, CA · Founded 2014

American autonomous drone manufacturer; best-known for obstacle-avoidance consumer drones and public-safety/enterprise platforms.

Last primary round$2.2B · Series D (2021-02)
Secondary market$2.3B (+5% vs primary)
Annual revenue$0.1B ARR · +10% YoY
Headcount~300
Equity typeISO/NSO
Strike price range$6–$12 (depends on cohort)
Illiquidity discount~30%
Last round leadAndreessen Horowitz
Liquidity outlook

Early-stage — IPO 4–6+ years away. High-risk, high-upside equity. Liquidity most likely via acquisition or late-stage tender.

Key equity angle

Government-contract stability; ISO/NSO options; longer liquidity timeline vs consumer tech

Key differences for employees

Equity structure

Shield AI grants ISO/NSO with strike prices ranging from $10–$18 depending on your grant year. Skydio grants ISO/NSO with strike prices from $6–$12.

Secondary market premium

The secondary market is pricing Shield AI at a +14% premium over its last primary round ($2.8B$3.2B). Skydio trades at +5% over its last round ($2.2B$2.3B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.

Revenue and growth

Shield AI runs at $0.2B ARR, growing +120% YoY (very fast). Skydio runs at $0.1B ARR, growing +10% YoY. Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.

Liquidity timeline

Shield AI: Early-stage — IPO 4–6+ years away. High-risk, high-upside equity. Secondary indication near primary round valuation. Liquidity most likely via acquisition or late-stage tender.

Skydio: Early-stage — IPO 4–6+ years away. High-risk, high-upside equity. Liquidity most likely via acquisition or late-stage tender.

Calculate your specific grant

Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value at both companies using 4 independent methods.

Frequently asked questions

Is Shield AI or Skydio a better company to work at for equity?
There's no universal answer — it depends on your risk profile, time horizon, and specific grant terms. Shield AI at $2.8B and Skydio at $2.2B offer very different risk/reward profiles. Use the calculator above to model your exact grant at each company.
How do I know if my Shield AI or Skydio equity is fairly priced?
Compare your grant's implied per-share value against the secondary market price. If investors are paying a premium on Hiive or Forge over the last primary round, that's a signal of strong demand. PrivatePulse shows you the gap between your 409A and what the secondary market says.
Can I sell my Shield AI or Skydio shares on the secondary market?
Secondary market transactions (Hiive, Forge, Caplight) require accredited investor status and your company's consent — most private companies have right-of-first-refusal (ROFR) provisions. Tender offers, when available, are typically the most accessible path to partial liquidity for employees.

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