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Convertible Preferred Stock, Stockholders’ Equity (Deficit) and Equity Incentive Plan - (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Convertible Preferred Stock

As of December 31, 2020, convertible preferred stock consisted of the following (in thousands):

Class A-1 and Class A-2 Convertible Preferred Stock

						Share  Authorized						Share Issued and Outstanding						Aggregate Liquidation Preference (in thousands)
Class A-1						5,177,655						5,177,654						54,379
Class A-2						16,522,290						16,505,894						48,397
Total Class A-1 and Class A-2 convertible preferred stock						21,699,945						21,683,548						102,776

Class B-1 and Class B-2 Redeemable Convertible Preferred Stock

						Share  Authorized						Share Issued and Outstanding						Aggregate Liquidation Preference (in thousands)
Class B-1						3,233,851						3,233,851						35,000
Class B-2						2,310,067						2,310,067						35,000
Total Class B-1 and Class B-2 redeemable convertible preferred stock						5,543,918						5,543,918						70,000

Common Stock Reserved for Future Issuance

As of December 31, 2021, the Company had the following shares of common stock reserved for future issuance under its equity incentive plan and employee share purchase plan:

Stock options outstanding			9,341,242
Restricted stock units outstanding			3,737,565
Remaining shares available for future grant under 2021 Equity Incentive Plan			4,880,897
Remaining shares available for future issuance under ESPP			1,224,973
Total shares of common stock reserved as of December 31, 2021			19,184,677

Summary of Stock Options

A summary of stock option activity under the Company’s equity incentive plans and related information is as follows:

			Options Outstanding
			Number of Shares						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Life (in years)						Aggregate Intrinsic Value (in thousands)
Balance as of December 31, 2020			11,947,731						$	4.85
Granted			481,403						50.12
Exercised			(2,266,979)						2.57												$	65,860
Cancelled and forfeited			(820,913)						15.19
Balance as of December 31, 2021			9,341,242						$	6.83					6.5						$	109,971
Vested and exercisable			5,839,680						$	3.54					5.3						$	81,496

Summary of RSU Activity Under Equity Incentive Plans and Related Information

A summary of RSU activity under the Company’s equity incentive plans and related information is as follows:

			RSUs Outstanding
			Number of Shares						Weighted-Average Grant Date Fair Value
Unvested balance as of December 31, 2020			—						$	—
Granted			3,907,260						20.53
Vested			(37,100)						28.03
Cancelled and forfeited			(132,595)						33.14
Unvested balance as of December 31, 2021			3,737,565						$	20.01

Schedule of Black-Scholes Assumptions Used to Value the Employee Stock Options

Employee Stock Options

									Year Ended December 31,
															2021												2020												2019
Expected term																					5.92 years			-			6.07 years						6.25 years												6.25 years
Expected volatility																					53.82		%	-			54.98%						41.60		%	-			62.00%						40.70		%	-			51.50%
Risk-free interest rate																					0.62		%	-			0.96%						0.40		%	-			1.70%						1.50		%	-			2.50%
Dividend yield															—%												—%												—%

Schedule of Black-Scholes Assumptions Used to Value the ESPP

Employee Stock Purchase Rights under ESPP

									Year Ended December 31, 2021
Expected term									0.13 years			-			0.63 years
Expected volatility									34.08		%	-			61.00%
Risk-free interest rate									0.06%			-			0.07%
Dividend yield									—%

Summary of Share-based Compensation Expense by line item in the Condensed Consolidated Statements of Operations

The stock-based compensation expense by line item in the accompanying consolidated statements of operations is summarized as follows (in thousands):

									Year Ended December 31,
															2021						2020						2019
Cost of revenue
Subscription and other platform															$	1,897					$	154					$	97
Professional services															382						37						50
Total cost of revenue															2,279						191						147
Sales and marketing															8,806						1,051						915
Research and development															4,402						360						197
General and administrative															10,163						1,327						739
Total stock-based compensation expense															$	25,650					$	2,929					$	1,998

Summary of Unrecognized Stock-Based Compensation Expenses

As of December 31, 2021, unrecognized stock-based compensation expense by award type and their weighted-average recognition periods are as follows (in thousands, except years):

			Stock Option						RSU						ESPP
Unrecognized stock-based compensation expense			$	42,812					$	69,174					$	310
Weighted-average amortization period			2.88 years						3.34 years						0.37 years

Schedule of Repurchase Agreements

			Year Ended December 31, 2021
Number of shares repurchased			428,218
Average price per share (including commissions)			$	16.88
Total repurchase costs (in million)			$	7.2

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