CEO Nicholas HarrisFounded 2017HQ Mountain View, US
Lightmatter develops photonic infrastructure for AI, including interconnects and compute components that use light instead of electrons. The company says this improves bandwidth and energy efficiency for data centers and AI workloads.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$4.4B
Series D, Oct 2024, Perplexity
UpMarket Estimate
$4.5B
Based on UpMarket valuation model
Previous Price
$1.2B
Series C Dec 2023
How to Invest in Lightmatter Through UpMarket
Lightmatter shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Lightmatter offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Oct 2024
Series D
$4.4B
Dec 2023
Series C
$1.2B
Lightmatter Revenue and Growth
Annual revenue
Why Investors Are Watching Lightmatter
Growth Signal
Lightmatter raised $154M Series C, over $270M total
Lightmatter raised $154 million in its Series C round, bringing total funding to more than $270 million. Investors included Fidelity, Viking Global, GV, HPE Pathfinder, and SIP Global. The capital supports scaling its photonic computing platform for AI workloads.
Competitive Moat
Photonic chips aim to boost bandwidth while cutting power
Lightmatter says its proprietary silicon-photonics technology lets chips move data faster, increasing AI cluster bandwidth and performance. The company also claims its full-stack hardware and software reduce power consumption versus traditional chip approaches. This combination is presented as its core technical moat.
Market Opportunity
Founded in 2017, Lightmatter targets AI compute bottlenecks
Founded in 2017 and based in Boston, Lightmatter builds hardware that uses light instead of electrons to improve speed, efficiency, and scalability for AI workloads. Its pitch is aimed at the growing need for faster, lower-power infrastructure in data centers and cloud AI systems. Nasdaq Private Market listed an estimated share price of $62.43 as of May 20, 2026.
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No. As of March 2026, Lightmatter is a private company and does not trade on any public stock exchange. Accredited investors can access Lightmatter shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Lightmatter does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Lightmatter shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Lightmatter shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Lightmatter develops photonic AI interconnects and compute components, generating $116.1M in 2024 revenue and valued at $4.5B, after raising $154M in its Series C and more than $270M total — accredited investors can access Lightmatter stock through UpMarket.