BVM Level 2 – Company Valuation Report

A range tells investors where you might be.
BVM L2 shows where you stand, scored against the companies in your Level 1 benchmark.

Company-specific point estimate

The BVM Level 2 report positions the Target within, above, or below the Level 1 benchmark range. Each core comparable and the Target are scored on the four pillars of the BVM Analytical Matrix, and every score is documented. The result is a company-specific pre-money point estimate based on documented VC transactions, not models or projections.

80+ page report · 3–6 business days after Level 1 · in your chosen currency

BVM Analytical Matrix

Each comparable and the Target are scored on four pillars, with sector-adjusted weights.

• P1 Product-Positioning: market identification, opportunity window, offering differentiation, business model, and pricing; scored against the comparable group to establish relative product-market fit
• P2 Team-Execution: key role coverage, individual track records, board composition, advisor network, team completeness for the current stage, and coherence of the execution narrative; scored conservatively, given the uncertainty of team quality indicators
• P3 Traction-Milestones: achieved milestones mapped against a standardized, sector-specific progression path; stage-normalized, so scores reflect credible progress at the equivalent stage, not absolute advancement
• P4 IP-Moat: patents granted and pending, citation counts, inventor count, assignee structure, designs, trademarks, trade secret likelihood, and proprietary data assets; quantitative measurement only

At Stage and Actual Time

Each comparable is assessed at two points in time. At Stage is its position when it was at the Target's equivalent stage of development: the input used for the valuation. Actual Time is its current position, which shows its trajectory and anchors the backward inference. The benchmark therefore reflects comparables at equivalent maturity, not at their current, more advanced position.

Report contents

• Scope and executive summary: structure of the report, main inputs, and the Level 2 result
• Company profile and sector validation: your company, sector dynamics, and VC trends
• BVM methodology and Level 1 results: the method as applied, and the benchmark range carried forward
• Level 2 comparable review: one section per pillar, P1 to P4, across the core comparables
• Target profile and scoring: supplementary profile of your company and its P1–P4 scores, with differentiation rationale against each comparable
• Level 2 valuation calculation and statement: the company-specific point estimate, derived from the composite score, sector-adjusted weights, and scoring differential
• Appendix: profile and analysis of each core comparable, 20–40 pages in total, with P1–P4 scoring At Stage and at NOW Time, sourced narrative, and scoring rationale with confidence tagging
• Key definitions and abbreviations

Every score is justified and sourced, forming a traceable, audit-ready record.

Ideal for

• Founders finalizing pricing in fundraising negotiations
• Companies preparing M&A discussions or a strategic partnership valuation
• Boards requiring defensible valuation documentation
• Cap table planning and audit preparation

After you order

1. Order confirmation: immediate email with order details
2. Level 1 review: our team confirms the comparable set carried forward
3. Additional materials: we email you a request for company-specific inputs
4. Analysis: research, scoring, and narrative across the four pillars for every company, with analyst review
5. Delivery: your report by email within 3–6 business days after Level 1