KIT Data and Frequently Asked Questions
KIT is an interactive database of private companies, and includes information about individual investments, deal terms, and valuations. Please see our section on "Using KIT" for more detailed instructions on the functionality of KIT.
The benefit to KIT, and what sets it apart from its competition, is that the data comes from publicly-filed documents. These documents are filed by the companies themselves. No more trusting a survey or a director's subjective view of the company's worth. With KIT, you are assured that the question, "What's My Company Worth?" can be answered with the most direct and accurate method possible.
Valuation Trends
One very important goal of the KIT team is to uncover trends in any number of Private Equity metrics. If there is a particular question you need to answer, we would love to help. Please see our Business Intelligence Service for more information.
Average Post-Money Valuations
By Year and Industry
What is the Cost of Capital Benchmark?
The Cost of Capital Benchmark is a analytics tool, defined in a graphical format whose independent variables are time, industry, and region. The value of such a tool lies in its capability to reduce a venture capital deal to a numerical value and then compare that numerical representation to a baseline.
The core of the benchmark involves a propriatary algorithm to establish a numerical representation of the deal. The evaluation scale ranges from -1 (fully company-friendly) to +1 (fully-investor-friendly). Thus a common stock deal with weighted average antidilution would carry a much lower number than a full-ratchet, series D, down round. The algorithm is based on expert, internal research into subjective valuation and feedback from professionals in the industry.
Frequently Asked Questions
What deal "terms" are tracked by the KIT database?
KIT tracks the following deal terms:
Post-Money Valuation
Industry
Geographic Region
Round of Financing
Type of Preferred Stock
Capped Participating Preferred
Liquidation Preference for the Current Round
Multiple of the Liquidation Preference
Round Direction
Anti-Dilution Protection
Redemption at Investor's Option
Pay-to-Play Penalties
Cumulative Dividends
Reorganization or Recapitalization
Please visit "The Glossary of Private Equity and Venture Capital" for additional information and definitions of the terms used.
How specific is the Antidilution Protection determination?
Weighted Average was not further defined as either Broad or Narrow. Also, Full Ratchet was counted as an Antidilution Protection even if it expired after a certain time frame and/or once a
condition was met.
Why are some results marked as N/A?
If N/A was used as indication for the "Round Direction" and/or the "Liquidation Preference for the Current Round", then this was due
to there not being a previous round of financing for that particular company. If N/A was used for the "Type of Preferred Stock", then the preferred stock was not a
"Conventional Convertible" or a "Participating Preferred".
How do you define your geographic regions?
New England
Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and parts of Connecticut (excluding Fairfield county)
New York & New York Metro
Northern New York state, Metropolitan NY area, northern New Jersey, and Fairfield County, Connecticut
Philadelphia Metro
Pennsylvania, southern New Jersey, and Delaware
DC/Metroplex
Washington, D.C., Virginia, West Virginia, and Maryland
Southeast
Alabama, Florida, Georgia, Mississippi, Tennessee, South Carolina, and North Carolina
Midwest
Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, Nebraska, Kansas, Illinois, Missouri, Indiana, Kentucky, Ohio, Michigan
Northwest
Washington, Oregon, Idaho, Montana, and Wyoming
Sacramento/Northern California
Northeastern California
Silicon Valley
Northern California, bay area and coastline
Southwest
Texas, Louisiana, Oklahoma, Arkansas, Utah, Arizona, New Mexico, and Nevada
Southern California
Southern California, the Central Coast and San Joaquin Valley
