Benchmark Valuation
at Your Stage

Planning a funding round in the coming months?
Today is your NOW Time.

What is BVM?

The Backward Valuation Method demonstrates the valuation of comparable startups at your stage and sector (BVM Level 1) —providing defensible valuations based on real funding transactions, not projections. BVM shows how investors actually valued comparable companies at your stage of development.

What we do with BVM:

For Whom?

BVM applies to startups, spin-offs, and research ventures. BVM serves founders preparing fundraising rounds, investors evaluating opportunities, and companies managing equity events—SAFE conversions, option grants, and exit planning—within a 1 to 18 month horizon.

How It Works

Unlike forward-looking forecasts, BVM is based on: Real funding transaction data, observed investor behavior, systematic filtering of comparables by product, business model, funding history, market cycle, and region.

All valuation data is brought back to a single, current reference point: the NOW Time.

Why It Matters

The result: a valuation benchmark grounded in reality, based on what the market actually paid for comparable companies.

Two Levels of Valuation

Level 1 — Benchmark

Produces a benchmark valuation range based on comparables filtered by relevance; adjustments by development stage (Seed, Series A, etc.), sector, timing, and geography; full normalization to eliminate temporal, monetary, and cyclical effects.

Each comparable transaction is weighted by relevance and converted to current value.

→ Order your BVM Level 1 Report

Level 2 — Company-Specific Valuation

BVM Level 2 does not establish a new valuation, but analyzes your company's position relative to the Level 1 benchmark.

It relies on the BVM Matrix which measures normalized deviations across four key dimensions:

This structured analysis compares your company's strengths and risks against its peers, ensuring your valuation reflects both market data and your company's reality.

BVM is transparent, structured, and traceable. Each valuation is documented and audit-ready, with the option to include a traceability report detailing input logic and data provenance.

→ Order your BVM Level 2 Report

Discover the BVM Advantage

Download our presentation to see how the Backward Valuation Method™ (BVM) helps prepare your valuation and pricing discussions with investors.

Why BVM Was Created

The Backward Valuation Method™ (BVM) was developed to address a persistent gap: the absence of a transparent, empirical, and scalable framework for early-stage startup valuation.

BVM answers two essential questions that are often overlooked in startup investing:

1. What is the relevant valuation benchmark?
— The valuation range of comparable companies at the same stage of development.

2. Where does the company stand relative to the benchmark?
— A structured analysis that measures the deviation from the benchmark valuation range.

Key Features

Comparison with Traditional Methods

Traditional models (DCF, Scorecard, Comparable Transactions) rely on speculative assumptions.

BVM reverses the process: it starts from the funding actually received by comparable startups, then adjusts the benchmark based on dilution, timing, geography, and risk. Result: realistic, consistent valuations aligned with investor logic.

From Expertise to Deployment

BVM was designed for valuation precision, resilience, and operational scalability. BVM has evolved through continuous refinement:

• Originally developed as a premium consulting tool by SRA, then by SRV
• Now semi-automated using proprietary valuation tables and AI-assisted logic
• Reflects both current and historical macroeconomic cycles and local benchmarks
• Traceable, structured, and audit-ready
• Continuously improved for accuracy, transparency, and consistency