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Portfolio Company · Allegis Capital X

Polygraf AI

AI governance, data-loss prevention and synthetic-content detection.

Valuation As OfQ1 2026 · Mar 31, 2026
Initial Investment2025-09
Stage / SectorSeed · AI / Security
Allegis Invested Cost
$8.0M
Across Allegis vehicles
Current Fair Value
$8.0M
Q1 2026 mark
Gross MOIC
1.00x
Fair value ÷ cost
Ownership
20.3%
Fully diluted

Fair Value Mark History

Enterprise Value Progression ($M)
As OfEVCostFair ValueMOIC
Sep 2025$40.0M$8.0M$8.0M1.00x
Mar 2026$39.3M$8.0M$8.0M1.00x

Operating Metrics

GAAP Revenue ($M) — investment-date LTM through current-year estimate
MetricInv LTM2023202420252026ELTMNTM
GAAP Revenue ($M)0.10.10.1
EBITDA ($M)-0.7-1.0-0.8
Cash ($M)9.99.6
Debt ($M)
ARR ($M)
Investment-date LTM and current-year (E) revenue shown in green. Figures per Allegis valuation workpapers; unaudited.

Financing Rounds

RoundDateInvestedPost-Money EVFully Diluted Shares
Series Seed 1A ($10M Cap)$1.6M$10.0M
Series Seed 1B ($20M Cap)$0.2M$20.0M
Series Seed 1 (New Cash)Sep 2025$9.3M$39.3M1,847,239,227
Total Invested$11.2M
Company-level priced rounds and convertibles. Allegis holds a minority preferred position; see ownership above.