ARR
$290k
↑ 6% MoM
Burn
$48k/mo
monthly
Runway
14 mo
at current burn
Risk flags
0
clear
Execution signals — VentureLync telemetry
source-grounded · weekly refresh
Ship cadence
2.4/ wk
top 5% of pipeline
Reporting on-time
100%
12/12 weeks
Founder reply
14h
median · target <24h
Revenue verified
$290k
Stripe match
Source coverage
6/ 6
GH · JR · STR · HS · ZH · GC
Integrity flags
0
clean 90 days
Revenue & burn · 12 months
Memory · Stripe + accounting reconciled
+444%YoY
MayJulSepNovJanMarMay
MRRBurnNet
Cap table · post Seed
Carta · last refreshed today
52%
founders
Founders52%—
ESOP pool14%vested 6.1%
Lead seed12%$1.2M
Angels8%$650k
Accel partner6%$480k
Syndicate5%$400k
Others3%—
Cohort retention — customer revenue retained by month
$ retention · 120%+ = expansion
128%NRR · best in cohort
| Cohort | Size | M0 | M1 | M2 | M3 | M4 | M5 | M6 | M7 | M8 | M9 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 2025 | $3.8k | 104 | 108 | 113 | 118 | 126 | 131 | 139 | 145 | 150 | 157 |
| Sep 2025 | $4.2k | 102 | 107 | 112 | 120 | 125 | 133 | 139 | 144 | 151 | |
| Oct 2025 | $5.1k | 101 | 106 | 114 | 119 | 127 | 133 | 138 | 145 | ||
| Nov 2025 | $6.3k | 100 | 108 | 113 | 121 | 127 | 132 | 139 | |||
| Dec 2025 | $7.8k | 102 | 107 | 115 | 121 | 126 | 133 | ||||
| Jan 2026 | $9.4k | 101 | 109 | 115 | 120 | 127 | |||||
| Feb 2026 | $10.9k | 103 | 105 | 114 | 121 | ||||||
| Mar 2026 | $12.2k | 103 | 104 | 115 | |||||||
| Apr 2026 | $13.6k | 102 | 105 | ||||||||
| May 2026 | $14.2k | 103 |
Customer concentration
top 10 · 62% · diversified
Anchor 1 (14%)Anchor 2 (11%)Tier 1 (9%)Tier 1 (7%)Tier 2 (6%)Top 6-10 (15%)Long tail (38%)
✓No customer > 15% · top 5 = 47% of revenue · two new enterprise wins moved top-tier mix to balanced.
Team — 34 people · 8 hired YTD
founders + key leads
AV
Anand Venkatesh
Co-founder · CEO · ex-Stripe
PP
Priya Prakash
Co-founder · CTO · ex-Meta
MS
Mohan Sharma
Co-founder · COO · ex-Uber
RK
Rakesh Kumar
VP Sales · joined Jan 2026
JN
Jaya Nair
Head of Finance · joined Mar 2026
+
+ 29 more
ops 14 · eng 8 · sales 5 · g&a 2
Round history
5 rounds · 2021 → 2026
Mar 2021
Pre-seedfriends & family
$40k
$2.5M pre
Jan 2022
SeedLead VC · angels
$2.8M
$12M pre
Sep 2023
Seed+ (you)Veridian (co-lead) · syndicate
$4.5M
$18M pre
Jun 2024
Bridgeinside round · all existing
$1.5M
$25M pre
Q4 2026 (target)
Series Bin preparation · deck reviewed Apr 30
$40M target
$180M pre
Risks & watch
your notes
!
Dilution path to Series B
✓
Top customer concentration safe
!
Logistics margin sensitivity
✓
Founders aligned · no exits
✓
Competitive moat compounding
Diligence Q&A — with founder
all replied · source-linked
"How do you defend margin in tier-3 markets?"
We piggy-back on existing partner schedules — we don't own the fleet, we own the software. 22% GM contribution from tier-3 vs 18% tier-1. Attached: route-level P&L Apr.
"What happens if the largest competitor enters last-mile directly?"
They tried in 2023 and pulled back. Our data loop (2.4M deliveries) is 3× theirs. Customer stickiness = operational SLAs, not price. Multi-year MSAs signed this month prove it.
"Runway tight at 22 months · when do you raise B?"
Targeting Series B close Q4 2026. Term sheet conversations with 2 growth funds. Deck at Pulley. Want Veridian in on pro-rata — happy to carve $28-32k.
Recent activity
founder + company · 14 days
today
Settlement cleared $12k
May 27
Anchor 2 contract signed · 36mo
May 24
v3.1 shipped · pricing engine v2
May 20
Weekly report submitted · 100% on-time
May 18
Series B deck uploaded · draft v4
May 14
Hire · Jaya Nair · Head of Finance
Peer compare — portfolio
private benchmarks · 2026
| Metric | Bolt Forge | Peer A (est.) | Peer B (est.) | Cohort P90 |
|---|---|---|---|---|
| ARR | $290k | $1.2M | $500k | $8M |
| YoY growth | 142% | 28% | 34% | 180% |
| Gross margin | 64% | 22% | 18% | 42% |
| NRR | 128% | 104% | 108% | 115% |
| Burn / ARR | 0.54 | 2.8 | 1.9 | 0.9 |
Exit scenarios — speculative
not a forecast
Base
Series B at $180M pre · 4× paper
4.0×
Bull
Series C at $500M · strategic acq.
11×
Bear
Bridge at flat · 2027
1.5×
§Scenarios are internal only. Not shared with founder, LPs, or in any written communication. Counsel gate applies to any external framing.
Updates · timeline
May 9 2026Founder update · Q1Two consecutive flat months on ARR. Founder cited 'longer enterprise cycles' in last update; no churn data shared.
Apr 5 2026Founder update · Q4 2025ARR ↑ 6% MoM, two new logos in healthtech. Burn down 8% from prior month.
Mar 8 2026Board call notes · 1hDiscussed pricing v2 rollout. Founder asked for intro to two CTO references in fintech.
Feb 4 2026Founder update · Q4 2025Closed annual renewal with anchor customer at +18% expansion. Hiring 1 SE next month.
Drafted next-update request
To: founder@bolt-port.com · Subject: May update for the LP recap
Hi team,
Quick check-in for our May LP recap. We saw the May 8 2026 update; the highlights stuck out: ↑ 6% MoM on ARR. Anything notable on hiring, customer concentration, or runway since then is welcome. No specific format needed.
Thanks,
S. Patel · Veridian Capital
Quick check-in for our May LP recap. We saw the May 8 2026 update; the highlights stuck out: ↑ 6% MoM on ARR. Anything notable on hiring, customer concentration, or runway since then is welcome. No specific format needed.
Thanks,
S. Patel · Veridian Capital
Drafted today · cited from May 8 2026 update
ARR trail · last 6 mo
DecJanFebMarAprMay
Memory hitsOpen memory →
Last reviewed in board memo dated Apr 12 2026. Two prior diligence sessions logged: thesis fit confirmed, traction model pressure-tested. No prior pass decisions to recall.