Scale AI vs Cohere: employee equity compared
Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Scale AI and Cohere.
Scale AI
Data-labeling and AI infrastructure platform powering training pipelines for OpenAI, Meta, Microsoft, and the US DoD.
IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
High-growth AI play; ISO/NSO options; fast-moving valuations reward timing
Cohere
Enterprise large-language-model platform specialising in private cloud deployments and retrieval-augmented generation.
No near-term IPO expected. Secondary indication near primary round valuation. Company likely 2028+ at earliest; patient equity required.
High-growth AI play; ISO/NSO options; fast-moving valuations reward timing
Key differences for employees
Equity structure
Scale AI grants ISO/NSO with strike prices ranging from $35–$50 depending on your grant year. Cohere grants ISO/NSO with strike prices from $18–$28.
Secondary market premium
The secondary market is pricing Scale AI at a +4% premium over its last primary round ($13.8B → $14.4B). Cohere trades at +7% over its last round ($5.5B → $5.9B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.
Revenue and growth
Scale AI runs at $1B ARR, growing +70% YoY (fast). Cohere runs at $0.1B ARR, growing +80% YoY (fast). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.
Liquidity timeline
Scale AI: IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
Cohere: No near-term IPO expected. Secondary indication near primary round valuation. Company likely 2028+ at earliest; patient equity required.
Calculate your specific grant
Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value at both companies using 4 independent methods.