Private Market View

Fal

Software Development Applications · San Francisco, CA · Founded 2021 · Privately Held (backing)

PA Mark · $/share
$85
Sep 2026
Implied valuation
$8.0B
Total raised
$337.5M
Last round
Later Stage VC (Series D)
Dec 2025

Capitalization table

6 share classes, by liquidation seniority
ClassLiq. prefIssue price
Seed-1
Seed-2
Series A
Series B
Series C
Series D
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Reading Fal's cap table

Share classes are listed senior-first: in a sale or liquidation, higher-seniority preferred stock is paid its liquidation preference before junior classes and common see proceeds. A participating class takes its preference and shares in the remainder; a non-participating class chooses one or the other.

The original issue price is what investors paid per share in that class’s round — read against current secondary prices, it shows which investors are above or below water.

Frequently asked

How many share classes does Fal have?
Fal has 6 recorded share classes, listed by liquidation seniority — Seed-1 is the most senior.
How many shares has Fal authorized?
Across its 6 recorded classes, Fal has authorized 22,972,517 shares.
Where does Fal's cap table come from?
Share classes are assembled from certificates of incorporation, priced-round filings, and disclosures across Fal's 6 recorded funding rounds.