PrivatePulse·Companies·Skydio vs Vannevar Labs

Skydio vs Vannevar Labs: employee equity compared

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

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

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

Vannevar Labs

Defense · United States · Founded 2019

AI-native defence intelligence platform processing open-source, commercial, and classified data for the DoD and IC.

Last primary round$1.2B · Series B (2024-05)
Secondary market$1.2B (+0% vs primary)
Annual revenue$0.1B ARR · +80% YoY (fast)
Headcount~250
Equity typeISO/NSO
Strike price range$7–$14 (depends on cohort)
Illiquidity discount~25%
Last round leadBedrock Capital
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

Skydio grants ISO/NSO with strike prices ranging from $6–$12 depending on your grant year. Vannevar Labs grants ISO/NSO with strike prices from $7–$14.

Secondary market premium

The secondary market is pricing Skydio at a +5% premium over its last primary round ($2.2B$2.3B). Vannevar Labs trades at +0% over its last round ($1.2B$1.2B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.

Revenue and growth

Skydio runs at $0.1B ARR, growing +10% YoY. Vannevar Labs runs at $0.1B ARR, growing +80% YoY (fast). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.

Liquidity timeline

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

Vannevar Labs: 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 Skydio or Vannevar Labs 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. Skydio at $2.2B and Vannevar Labs at $1.2B offer very different risk/reward profiles. Use the calculator above to model your exact grant at each company.
How do I know if my Skydio or Vannevar Labs 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 Skydio or Vannevar Labs 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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