Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Prequel raised a $5.2M seed round in September 2023 led by NextView Ventures and Stage 2 Capital.</li><li>Third is the Data Import capability launching in 2025 that works in reverse, allowing SaaS vendors to read data from customer warehouses.</li><li>The shift toward warehouse-native applications creates new customer categories beyond traditional SaaS.</li></ul>

Prequel raised a $5.2M seed round in September 2023 led by NextView Ventures and Stage 2 Capital.Third is the Data Import capability launching in 2025 that works in reverse, allowing SaaS vendors to read data from customer warehouses.The shift toward warehouse-native applications creates new customer categories beyond traditional SaaS.

<ul><li>Sacra estimates that Fivetran hit $325M in annual recurring revenue (ARR) in 2024, up 33% YoY.</li><li>In October 2025, Fivetran and dbt Labs announced an all‑stock merger to form a combined data infrastructure company with nearly $600M in annual revenue, with George Fraser as CEO and Tristan Handy as co‑founder and president; the companies expect the deal to close within a year.</li><li>Fivetran has raised $728M from investors such as Andreessen Horowitz, Matrix Partners, and General Catalyst.</li></ul>

Sacra estimates that Fivetran hit $325M in annual recurring revenue (ARR) in 2024, up 33% YoY.In October 2025, Fivetran and dbt Labs announced an all‑stock merger to form a combined data infrastructure company with nearly $600M in annual revenue, with George Fraser as CEO and Tristan Handy as co‑founder and president; the companies expect the deal to close within a year.Fivetran has raised $728M from investors such as Andreessen Horowitz, Matrix Partners, and General Catalyst.

<ul><li>Positioning against the breadth-first appeal of unified APIs, new native product integration infra companies like Ampersand (Matrix, $4.7M seed) enable vendors to build deep custom integrations with the handful of highest revenue generating, enterprise-tier, “fat head” systems of record like Salesforce and HubSpot.</li><li>Our positioning has been: if you want to go very deep natively, whatever you can do on top of the API, you can do with Ampersand, cutting down from 6 months to 6 days.</li><li>We are starting with the go-to-market stack.</li></ul>

Positioning against the breadth-first appeal of unified APIs, new native product integration infra companies like Ampersand (Matrix, $4.7M seed) enable vendors to build deep custom integrations with the handful of highest revenue generating, enterprise-tier, “fat head” systems of record like Salesforce and HubSpot.Our positioning has been: if you want to go very deep natively, whatever you can do on top of the API, you can do with Ampersand, cutting down from 6 months to 6 days.We are starting with the go-to-market stack.

Ayan Barua, CEO Of Ampersand, On Going Upmarket With Deep Native Product Integrations

<ul><li>Airbyte was founded in 2020 by Michel Tricot and John Lafleur as an open-source data integration platform.</li><li>Airbyte's strategy of focusing on the long tail of data integrations positions it to capture market share in areas underserved by established players.</li><li>Airbyte has tailwinds from the proliferation of SaaS applications and cloud data warehouses, and has the opportunity to grow and expand into adjacent markets like data integration infrastructure and AI-powered data pipelines.</li></ul>

Airbyte was founded in 2020 by Michel Tricot and John Lafleur as an open-source data integration platform.Airbyte's strategy of focusing on the long tail of data integrations positions it to capture market share in areas underserved by established players.Airbyte has tailwinds from the proliferation of SaaS applications and cloud data warehouses, and has the opportunity to grow and expand into adjacent markets like data integration infrastructure and AI-powered data pipelines.

<ul><li>Business intelligence (BI) tools like Looker (NASDAQ: GOOG) and Tableau (NYSE: CRM) are where financial analysts create dashboards, formalize their reasoning, and establish a source of truth—but for deeper analysis, analysts revert to Excel.</li><li>Both finance analysts and financial analysis are becoming horizontal across the org, integrating data—not just from QuickBooks and Stripe—but through Salesforce, HubSpot, Amplitude, your production database, and more.</li><li>Modern FP&A tools Equals (Andreessen Horowitz, $22.6M raised), Sigma Computing (Sutter Hill, $652M raised), Runway (Initialized Capital, $33.5M raised) and Causal (Coatue, $26M raised) vertically integrate integrations & the data layer (where you connect live data), spreadsheets (where you analyze the data) and dashboards (where you display the data) into a collaborative finance platform.</li></ul>

Business intelligence (BI) tools like Looker (NASDAQ: GOOG) and Tableau (NYSE: CRM) are where financial analysts create dashboards, formalize their reasoning, and establish a source of truth—but for deeper analysis, analysts revert to Excel.Both finance analysts and financial analysis are becoming horizontal across the org, integrating data—not just from QuickBooks and Stripe—but through Salesforce, HubSpot, Amplitude, your production database, and more.Modern FP&A tools Equals (Andreessen Horowitz, $22.6M raised), Sigma Computing (Sutter Hill, $652M raised), Runway (Initialized Capital, $33.5M raised) and Causal (Coatue, $26M raised) vertically integrate integrations & the data layer (where you connect live data), spreadsheets (where you analyze the data) and dashboards (where you display the data) into a collaborative finance platform.

Bobby Pinero, CEO Of Equals, On Bringing Joy To Finance Teams

United States

Open-source tool for syncing data from APIs, apps, and databases to warehouses

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Airbyte (AIRBYTE US)

Primer: Prequel - 20 Jan 2026

Tool for SaaS vendors to build native data warehouse connectors for their customers

Sacra

Primer: Fivetran - 15 Oct 2025

Data pipeline tool for syncing SaaS and database data into cloud data warehouses

Sacra

Ayan Barua, CEO Of Ampersand, On Going Upmarket With Deep Native Product Integrations

Before starting Ampersand, you were VP of Engineering at G2, and you got there via the acquisition of your startup Siftery. Can you talk about...

Sacra

Primer: Airbyte - 04 Sep 2024

Open-source tool for syncing data from APIs, apps, and databases to warehouses

Sacra

Bobby Pinero, CEO Of Equals, On Bringing Joy To Finance Teams

So before you founded Equals, you spent 8 years as a finance leader at Intercom. Tell us about that experience and then what you learned that...

Sacra

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)