Strengths
- Public company sources verify the product category and offering.
- Public customer or scale signals support adoption but require validation.
- Security/governance positioning is public but requires audit evidence.
Diligence report
Mural
Mural Public-Source Startup Diligence Report
Track for enterprise collaboration value only after proving durable ARR, renewal quality, and differentiation against bundled and specialist collaboration platforms.
Company profile
Mural Public-Source Startup Diligence Report
Mural has real public evidence supporting unicorn status and product/customer traction, but investment-grade underwriting depends on private financials, customer concentration, contracts, HR, legal, and technical evidence.
- Website
- www.mural.co
- Sector
- AI-powered visual collaboration and enterprise teamwork software
- Geography
- United States / Argentina heritage with global enterprise software customers
- Stage
- Private unicorn / late-stage venture-backed company
- Known aliases
- MURAL, Tactivos Inc. d/b/a Mural, LUMA Institute
- Report version
- 1.0
- Timezone
- UTC
Executive summary
Risks
- Financial quality and runway are not publicly verifiable
- Competitive pressure from collaboration suites and bundled tools
- Customer-logo evidence may not prove durable revenue concentration
Gaps
- Financial statements, ARR/revenue quality, burn, runway, debt, cap table, and current valuation.
- Customer concentration, renewal status, churn, NRR/GRR, reference checks, and production usage.
- Material contracts, legal/regulatory matters, IP ownership, security audits, data/model governance, and supplier dependencies.
Risk register
R-002: Competitive pressure from collaboration suites and bundled tools
Public product claims for Mural need validation against competition, implementation quality, governance, and customer outcomes.
Diligence request: Request win/loss, product telemetry, model/security governance evidence, roadmap, and customer outcome proof.
R-001: Financial quality and runway are not publicly verifiable
Mural has a public unicorn valuation reference, but financial statements, revenue quality, burn, runway, debt, and current capitalization are not public.
Diligence request: Request financial statements, ARR/revenue bridge, gross margin, burn, runway, debt, and cap table.
R-003: Customer-logo evidence may not prove durable revenue concentration
Mural publishes customer or adoption evidence, but top-customer revenue, renewal status, churn, and pipeline are private.
Diligence request: Request top-customer revenue, contracts, renewal calendar, churn/NRR, implementation status, and reference calls.
R-004: Management, headcount, and incentive details are incomplete
Public pages provide partial management or footprint evidence for Mural, but full org, compensation, equity, and turnover data are not public.
Diligence request: Request HRIS export, org chart, executive contracts, compensation plans, option plan, and attrition data.
R-005: Legal, regulatory, IP, and contract exposure requires private counsel review
Public sources do not provide a full legal matter schedule, material contracts, IP ownership chain, or regulatory correspondence for Mural.
Diligence request: Request counsel disclosure letter, litigation docket searches, IP schedule, contracts, DPA/security exhibits, and regulator correspondence.
R-006: Supplier, data, and infrastructure dependencies are not transparent
Key cloud, data, subprocessors, implementation, and support dependencies for Mural are not fully disclosed in public sources.
Diligence request: Request vendor/subprocessor list, cloud architecture, SLAs, DR/BCP, data rights, and termination clauses.
01Financial Information
Public unicorn valuation evidence supports eligibility, but financial statements, projections, cap table, debt, and current valuation remain private.
I.A Annual and quarterly financial information for the past three years
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to I.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to I.A diligence requirements.
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| Revenue/ARR | No audited revenue or ARR found in public sources reviewed. | Request revenue bridge, ARR, gross margin, CAC, burn, runway, and budget-vs-actual. | not_publicly_verifiable |
| Pricing/scale signal | Free plan, Team+/Business paid tiers, Enterprise advanced controls, SSO, SCIM, audit logs, 2FA, data residency, BYOK. | Reconcile to billed contracts, realized pricing, margins, and retention. | partially_verified |
I.B Financial Projections
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to I.B, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to I.B diligence requirements.
I.C Capital Structure
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to I.C, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to I.C diligence requirements.
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| Public backers / ownership clues | Microsoft ecosystem | Request cap table, preference stack, debt, warrants, option plan, and board rights. | partially_verified |
| Shares/options/debt | Not disclosed in reviewed public sources. | Request full capitalization and debt schedule. | not_publicly_verifiable |
I.D Other financial information
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to I.D, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to I.D diligence requirements.
| date | event | amount | valuation | source | verification status |
|---|---|---|---|---|---|
| 2021-07-20 | Reuters-cited financing | $50M | $2B | Reuters citation via Wikipedia | partially_verified |
| 2026-06-05 | Current unicorn-list selection | not_publicly_verifiable | $2B | Wikipedia current unicorn table | partially_verified |
Original Reuters URL returned access errors; report uses fetched Wikipedia table/citation metadata.
02Products
Product scope is public; pricing realization, margins, usage depth, roadmap economics, and implementation quality need company data.
II.A Description of each product
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to II.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to II.A diligence requirements.
| product | audience | public evidence | verification status |
|---|---|---|---|
| Visual workspace and AI-powered workflows | AI-powered visual collaboration and enterprise teamwork software | Company product pages describe this offering or workflow. | verified |
| Research and development templates | AI-powered visual collaboration and enterprise teamwork software | Company product pages describe this offering or workflow. | verified |
| Sales, marketing, and consulting workflow templates | AI-powered visual collaboration and enterprise teamwork software | Company product pages describe this offering or workflow. | verified |
| package | public terms | diligence gap | verification status |
|---|---|---|---|
| Free plan | Public page or demo motion identified. | Request price book, discounting, ACV, implementation fees, attach rates, and gross margin. | partially_verified |
| Team+/Business paid tiers | Public page or demo motion identified. | Request price book, discounting, ACV, implementation fees, attach rates, and gross margin. | partially_verified |
| Enterprise plan with advanced controls | Public page or demo motion identified. | Request price book, discounting, ACV, implementation fees, attach rates, and gross margin. | partially_verified |
03Customer Information
Public customer/adoption evidence exists, but revenue concentration, renewal status, churn, and customer reference validation remain open.
III.A Top customers by application
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to III.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to III.A diligence requirements.
| customer | public evidence | diligence gap | verification status |
|---|---|---|---|
| SAP | Named in company customer/logo/case-study evidence or scale claim. | Request current contract value, renewal status, usage, and reference confirmation. | partially_verified |
| IBM | Named in company customer/logo/case-study evidence or scale claim. | Request current contract value, renewal status, usage, and reference confirmation. | partially_verified |
| HPE | Named in company customer/logo/case-study evidence or scale claim. | Request current contract value, renewal status, usage, and reference confirmation. | partially_verified |
| Accenture | Named in company customer/logo/case-study evidence or scale claim. | Request current contract value, renewal status, usage, and reference confirmation. | partially_verified |
| Steelcase | Named in company customer/logo/case-study evidence or scale claim. | Request current contract value, renewal status, usage, and reference confirmation. | partially_verified |
| GitHub | Named in company customer/logo/case-study evidence or scale claim. | Request current contract value, renewal status, usage, and reference confirmation. | partially_verified |
III.B Strategic relationships
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to III.B, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to III.B diligence requirements.
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| LUMA Institute | Public relationship or unresolved supplier area identified. | Request contract terms, SLAs, termination rights, exclusivity, data rights, and economics. | partially_verified |
| Microsoft ecosystem | Public relationship or unresolved supplier area identified. | Request contract terms, SLAs, termination rights, exclusivity, data rights, and economics. | partially_verified |
| Cloud/infrastructure suppliers not disclosed | Public relationship or unresolved supplier area identified. | Request contract terms, SLAs, termination rights, exclusivity, data rights, and economics. | not_publicly_verifiable |
III.C Revenue by customer
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to III.C, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to III.C diligence requirements.
III.D Significant relationships severed within the last two years
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to III.D, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to III.D diligence requirements.
III.E Top suppliers
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to III.E, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to III.E diligence requirements.
04Competition
The competitive set is diligence-oriented and must be validated with win/loss, pricing, and customer-switching evidence.
IV.A Competitive landscape by market segment
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to IV.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to IV.A diligence requirements.
| competitor | overlap | differentiator to test | source basis |
|---|---|---|---|
| Miro | AI-powered visual collaboration and enterprise teamwork software | Validate ROI, workflow fit, pricing, security, switching cost, and retention. | Analyst comparator based on public product category. |
| Lucid/Lucidspark | AI-powered visual collaboration and enterprise teamwork software | Validate ROI, workflow fit, pricing, security, switching cost, and retention. | Analyst comparator based on public product category. |
| Microsoft Whiteboard/Teams and FigJam | AI-powered visual collaboration and enterprise teamwork software | Validate ROI, workflow fit, pricing, security, switching cost, and retention. | Analyst comparator based on public product category. |
| axis | target position | risk to test | evidence status |
|---|---|---|---|
| Product scope | Visual workspace and AI-powered workflows; Research and development templates; Sales, marketing, and consulting workflow templates | Roadmap, usage, implementation depth, and ROI. | partially_verified |
| Security/governance | We maintain active SOC 2 Type 2, ISO 27001, and Microsoft 365 certifications and comply with GDPR and CCPA regulations. | Audit scope, exceptions, incidents, contractual commitments. | partially_verified |
05Marketing, Sales, and Distribution
Public GTM signals are visible, but channel productivity, pipeline quality, sales compensation, and budget capacity are private.
V.A Strategy and implementation
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to V.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to V.A diligence requirements.
| channel | public evidence | likely motion | diligence gap |
|---|---|---|---|
| Self-serve signup and free plan | Visible in company public pages. | Enterprise or product-led GTM depending on package. | Request pipeline, CAC, sales cycle, win rate, discounting, and channel attribution. |
| Enterprise sales demo motion | Visible in company public pages. | Enterprise or product-led GTM depending on package. | Request pipeline, CAC, sales cycle, win rate, discounting, and channel attribution. |
| Case studies and newsroom marketing | Visible in company public pages. | Enterprise or product-led GTM depending on package. | Request pipeline, CAC, sales cycle, win rate, discounting, and channel attribution. |
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| Customer/scale proof | Boosting SAP sales efficiency with Mural; Revolutionizing IBM sales strategies; HPE accelerates customer obsessed innovation culture. | Validate representativeness and revenue contribution. | partially_verified |
| Thought leadership / R&D / press | Mural intros Mural AI, integrates with Microsoft 365 Copilot; Mural AI Literacy Practices Added to EU Living Repository. | Map to pipeline and product differentiation. | partially_verified |
V.B Major Customers
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to V.B, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to V.B diligence requirements.
V.C Principal avenues for generating new business
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to V.C, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to V.C diligence requirements.
V.D Sales force productivity model
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to V.D, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to V.D diligence requirements.
V.E Ability to implement marketing plan with current and projected budgets
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to V.E, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to V.E diligence requirements.
06Research and Development
R&D and roadmap signals are partial; model/IP ownership, engineering capacity, and product pipeline evidence need private review.
VI.A Description of R&D organization
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VI.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VI.A diligence requirements.
| name or role | public evidence | diligence gap |
|---|---|---|
| Omar Ayub - CTO | Public page evidence or explicit public-source gap. | Request R&D org chart, retention, roadmap ownership, and model/IP governance. |
| Elaina O Mahoney - CPO | Public page evidence or explicit public-source gap. | Request R&D org chart, retention, roadmap ownership, and model/IP governance. |
VI.B New Product Pipeline
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VI.B, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VI.B diligence requirements.
| project | public status | source | diligence gap |
|---|---|---|---|
| Mural trademark / Tactivos Inc. | Public signal or private-data request. | Company product/IP pages | Request roadmap milestones, IP assignments, licenses, model/data rights, and cost-to-serve. |
| LUMA Institute subsidiary | Public signal or private-data request. | Company product/IP pages | Request roadmap milestones, IP assignments, licenses, model/data rights, and cost-to-serve. |
| AI/software IP schedule not public | Public signal or private-data request. | Company product/IP pages | Request roadmap milestones, IP assignments, licenses, model/data rights, and cost-to-serve. |
07Management and Personnel
Management or footprint evidence is partial; full org chart, headcount, compensation, equity incentives, and turnover are private.
VII.A Organization Chart
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VII.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VII.A diligence requirements.
VII.B Historical and projected headcount by function and location
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VII.B, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VII.B diligence requirements.
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| Total headcount | Not disclosed in reviewed public sources. | Request HRIS export by function, geography, level, and hire/termination date. | not_publicly_verifiable |
| Public leadership/footprint signal | Leigh-Margaret Stull - Chief Executive Officer; Bill Dwoinen - Chief Revenue Officer; Omar Ayub - Chief Technology Officer. | Request org chart, hiring plan, attrition, and regretted-loss analysis. | partially_verified |
VII.C Senior management biographies
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VII.C, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VII.C diligence requirements.
| name or role | source | follow up |
|---|---|---|
| Leigh-Margaret Stull - CEO | Company about/leadership page or explicit public-source gap. | Request bios, employment terms, board reporting, compensation, and retention metrics. |
| Bill Dwoinen - CRO | Company about/leadership page or explicit public-source gap. | Request bios, employment terms, board reporting, compensation, and retention metrics. |
| Elaina O Mahoney - CPO | Company about/leadership page or explicit public-source gap. | Request bios, employment terms, board reporting, compensation, and retention metrics. |
| Christina Bottis - CMO | Company about/leadership page or explicit public-source gap. | Request bios, employment terms, board reporting, compensation, and retention metrics. |
| Omar Ayub - CTO | Company about/leadership page or explicit public-source gap. | Request bios, employment terms, board reporting, compensation, and retention metrics. |
VII.D Compensation arrangements
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VII.D, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VII.D diligence requirements.
VII.E Incentive stock plans
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VII.E, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VII.E diligence requirements.
VII.F Significant employee relations problems, past or present
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VII.F, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VII.F diligence requirements.
VII.G Personnel Turnover
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VII.G, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VII.G diligence requirements.
08Legal and Related Matters
Security/IP/regulatory signals are partial; legal matters, material contracts, insurance, IP ownership, and regulator correspondence require counsel review.
VIII.A Pending lawsuits against the Company
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VIII.A, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VIII.A diligence requirements.
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| Material pending lawsuits against Mural | No material litigation was identified in reviewed company-owned pages; authenticated docket searches were not performed. | Request counsel litigation letter and run jurisdiction-specific docket searches. | unverified |
VIII.B Pending lawsuits initiated by Company
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VIII.B, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VIII.B diligence requirements.
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| Company-initiated lawsuits | No public disclosure found in reviewed sources. | Request legal matter schedule and docket review. | unverified |
| Regulatory or audit exposure | We maintain active SOC 2 Type 2, ISO 27001, and Microsoft 365 certifications and comply with GDPR and CCPA regulations. | Request regulator correspondence, customer audit findings, security reports, and incident log. | partially_verified |
VIII.C Environmental and employee safety issues and liabilities
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VIII.C, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VIII.C diligence requirements.
VIII.D Material patents, copyrights, licenses, and trademarks
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VIII.D, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VIII.D diligence requirements.
| item | public evidence | diligence gap | verification status |
|---|---|---|---|
| Mural trademark / Tactivos Inc. | Public IP/product/data signal or explicit gap. | Request IP schedule, assignments, licenses, open-source scan, model/data rights, and encumbrances. | partially_verified |
| LUMA Institute subsidiary | Public IP/product/data signal or explicit gap. | Request IP schedule, assignments, licenses, open-source scan, model/data rights, and encumbrances. | partially_verified |
| AI/software IP schedule not public | Public IP/product/data signal or explicit gap. | Request IP schedule, assignments, licenses, open-source scan, model/data rights, and encumbrances. | not_publicly_verifiable |
VIII.E Insurance coverage and material exposures
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VIII.E, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VIII.E diligence requirements.
VIII.F Material contracts
not publicly verifiable confidence: low
No detailed public disclosure was found for this checklist area; private company records are required.
Evidence gaps
- Request data-room materials responsive to VIII.F, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VIII.F diligence requirements.
VIII.G Regulatory agency problems
partially verified confidence: medium
Public research provides partial support for this checklist area, but private records are required for full diligence.
Evidence gaps
- Request data-room materials responsive to VIII.G, including source schedules, contracts, policies, and management explanations.
Hidden risks
- Public-source evidence may overstate Mural traction or controls without financial, contractual, customer, HR, legal, and technical records.
Follow-up questions
- Provide the private evidence package that reconciles public claims to VIII.G diligence requirements.
Evidence
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | Mural is listed as a current unicorn with a $2B valuation reference. | partially verified medium | SRC-001SRC-002 |
| EC-002 | Mural has a public product platform in AI-powered visual collaboration and enterprise teamwork software. | verified high | SRC-003 |
| EC-003 | Mural has public packaging, pricing, or enterprise sales signals. | partially verified medium | SRC-003SRC-004 |
| EC-004 | Mural publishes customer, scale, or adoption evidence. | partially verified medium | SRC-003SRC-005SRC-007 |
| EC-005 | Mural publishes security, privacy, compliance, or AI governance claims. | partially verified medium | SRC-004SRC-005 |
| EC-006 | Mural has public leadership, investor, or operating-footprint evidence. | partially verified medium | SRC-004SRC-006 |
| EC-007 | Mural has public R&D, IP, data-source, or roadmap signals. | partially verified medium | SRC-003SRC-004SRC-007SRC-008 |
| ID | Publisher | Title | Accessed |
|---|---|---|---|
| SRC-001 | Wikipedia | Wikipedia current unicorn table - Mural | 2026-06-05 |
| SRC-002 | Reuters | Digital workspace provider MURAL raises $50 mln at $2 bln valuation | 2026-06-05 |
| SRC-003 | Mural | Mural homepage | 2026-06-05 |
| SRC-004 | Mural | Mural pricing | 2026-06-05 |
| SRC-005 | Mural | Mural trust and security | 2026-06-05 |
| SRC-006 | Mural | Mural about us | 2026-06-05 |
| SRC-007 | Mural | Mural case studies | 2026-06-05 |
| SRC-008 | Mural | Mural newsroom | 2026-06-05 |
Disclaimer
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.