Lobe is a private software company that built a no-code app for training machine learning models, especially image classification, without writing code.[3] Microsoft later made Lobe available in public preview and described it as a tool for easy, local ML training with private data handling.[3]
Access to pre-IPO shares is available to accredited investors through UpMarket.
Lobe shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
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Full offering memoranda and risk disclosures provided before any commitment is required.
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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.
| Date | Round | PPS (split-adj.) | Valuation |
|---|---|---|---|
| Feb 2021 | Series C |
Standard Metrics said Q4 2024 median quarterly EBITDA for late-stage private companies was -$338K, a 96% improvement from the Q1 2022 low of -$8.94M. The report suggests private tech is moving toward greater efficiency, but profitability remains uneven across the market.
Qubit Capital says the key investor metrics are revenue growth, customer acquisition cost, churn rate, LTV, gross margin, and burn rate. It emphasizes benchmarking each metric against the sector median and pairing retention with burn and profitability to judge sustainability.
SaaS Capital reported a 2024 median growth rate of 30% across private SaaS companies, down from 35% the prior year. The decline still leaves a large market where top performers can outgrow the median and capture share.
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No. As of March 2026, Lobe is a private company and does not trade on any public stock exchange. Accredited investors can access Lobe shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Lobe 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 Lobe 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 more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Lobe 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.
Lobe built a no-code app for training machine learning models, especially image classification, and private tech benchmarks show late-stage EBITDA nearing break-even, with Microsoft later making Lobe part of its machine learning stack — accredited investors can access Lobe stock through UpMarket.