Semantics3 interview questions

They reached out to me via a portal. The first round was an algorithmic round. The second round consisted of a take-home interview. Both of these rounds were good and challenging. After that, I was called for a f2f interview in their office. There were interviews with three people on the same day. They said they would let me know within a few days. After a few days, they called me again in office since their founder had come from SF. I went there and explained code to the team and had a little chat with the founder. Everything was good so far and I thought they were happy with my candidature so far (or so I thought). They asked me to provide a reference in the current company which I gave to them. At this point, I was almost sure I would get an offer. After a few days, I got an email stating they need someone with more experience. And hence after almost 5 rounds of interviews excluding assignment and algorithmic problems I was rejected because they needed someone with more experience, which they should've thought when they selected my profile for interview. Pretty disappointed with their decision-making process.