How Ask Ivy answers - two tiers. Tier 1 · exact metrics. Structured asks (ARR, QoQ & YoY growth, NRR, gross margin, burn, cash, runway, MOIC) plus named composites like "struggling," "at risk," "top performers" are computed deterministically from the live portco data on this page. Every number is auditable - click it for its source. Tier 2 · reasoning. Anything Tier 1 doesn't recognize falls through to a reasoning pass over the same data instead of an "unsupported" wall. Tier 2 answers are tagged "reasoned - verify" so they're never mistaken for an audited number. Questions people ask repeatedly get promoted from Tier 2 into Tier 1 so they become exact and instant.
Which portcos are struggling?Top performersWhich portcos are bottom-quartile on NRR?Top 5 by ARRMedian gross margin
Ask a question above and I'll compute the answer live from the real portco data on this page.
Each portco is scored by the average of its KPI z-scores - how far ARR, QoQ, NRR, GM & burn sit above or below the portfolio average. Higher = outperforming the portfolio. Click a row for charts; click a number for its source.
ARRAnnualized run-rate of the company's primary recurring/operating top line, latest reported quarter. Net basis preferred; exact source line recorded per company.
No-Fabrication RuleMissing / #DIV/0! / #REF! → "-", excluded from cohort math - never counted as 0, never substituted.
Basis ConventionEach company stays on its own reported top-line basis; any metric deviating from these rules carries a ⚠ flag (hover for the specific deviation).
Companies under diligence. Two ways to add one: (1) type a company name below - Ivy looks it up in Affinity (+ market map) and benchmarks it vs. industry & portfolio; or (2) drop a deck / financials into the drop zone below and Ivy parses it. Promote a prospect to a portco once it closes.
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Company Diligence
Drop a deck, financials, or data-room export - or browse. Ivy parses it into a capital-efficiency & growth report benchmarked vs. industry + portfolio.
Pick up to 5 companies (portcos or prospects) to compare side by side - the KPI charts below update automatically.
Exited Companies
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Sector
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ARR
QoQ
Gross Margin
MOIC
Benchmark Distributions
All portcos · n=...
Industry Standard (Aggregated)
Portco◆Industry StandardPortfolio MedianPortfolio MeanEach metric is shown relative to its industry-standard benchmark, resolved per portco's sector. Use the Cohort filters above to slice.
Fund-return benchmarks (net IRR, TVPI/DPI, mPME) by vintage & region · US VC 10yr pooled net IRR 14.86% · as of 12/31/2025 · fund-level context, not an operating-KPI overlay · CA internal-use, cite “Cambridge Associates LLC”
D2C subscription benchmarks across 20,000 brands · monthly churn by vertical: Health 8.8%, Beauty 8.4%, Food & Bev 7.7%, Pet 8.1%, Home 3.9% · avg orders/subscriber: Beauty 4.52, Food & Bev 4.61, Pet 4.43, Health 4.41, Home 3.06 · subscriber revenue share: Health 58%, Beauty 53%, Food & Bev 51%, Home 54%, Pet 59% · Jan-Dec 2025 · applies to consumer subscription portcos, not SaaS
Reference
Methodology
Each portco's score is the average of its KPI z-scores — for every metric (ARR, QoQ, NRR, GM, burn) we measure how many standard deviations the company sits above or below the portfolio average, then average those across its KPIs. Higher = outperforming the portfolio.
ARRAnnualized run-rate of the company's primary recurring/operating top line, latest reported quarter. Net basis preferred; exact source line recorded per company.
No-Fabrication RuleMissing / #DIV/0! / #REF! → "-", excluded from cohort math - never counted as 0, never substituted.
Basis convention: each company stays on its own reported top-line basis; any metric deviating from these rules carries a ⚠ flag (hover for the specific deviation).
Dashboard Requests & Change Log
Every change to this dashboard is tracked. File a new request below - it routes to Ivy and lands in the log. v.o2 iteration · 0 shipped · 0 open
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Source · audit trail
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Why every number is sourced. The investment team needs to audit and trust each figure. Clicking any benchmark, KPI, or Ask-Ivy answer opens this panel so you can see the cohort definition, sample size, and underlying file.