Pre-revenue startup · 12 risk factors
Risk Factor Summation Valuation Calculator
Adjust a local baseline valuation by scoring 12 business risks, then estimate financing ownership and dilution.
Baseline, financing and risk scores
Valuation result
Total risk score—
Valuation adjustment—
Risk-adjusted pre-money—
Baseline pre-money—
Adjustment vs baseline—
Post-money valuation—
Investor ownership—
Existing holders after round—
Implied price per share—
New shares issued—
Strongest factor—
Weakest factor—
How Risk Factor Summation works
Start with the average pre-money valuation of comparable pre-revenue startups in your region. Rate each factor from −2 (very negative) to +2 (very positive), add the scores, multiply by the adjustment per point, and apply that amount to the baseline.
The 12 factors and classic $250,000-per-point illustration follow Bill Payne’s explanation of the Ohio TechAngels method. Use local comparable data and combine this result with other valuation methods. This subjective planning tool is not investment, legal or tax advice.