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>DeepJudge raised a $41.2 million Series A in November 2025 led by Felicis, valuing the company at approximately $300 million pre-money.</li><li>The platform&#39;s value proposition centers on dramatically reducing the time lawyers spend searching for precedents and institutional knowledge.</li><li>Thomson Reuters, LexisNexis, and other legal technology incumbents are rapidly integrating AI capabilities into their existing platforms.</li></ul>

DeepJudge raised a $41.2 million Series A in November 2025 led by Felicis, valuing the company at approximately $300 million pre-money.The platform&#39;s value proposition centers on dramatically reducing the time lawyers spend searching for precedents and institutional knowledge.Thomson Reuters, LexisNexis, and other legal technology incumbents are rapidly integrating AI capabilities into their existing platforms.

<ul><li>Cohere shifted focus to training & deploying LLMs in private cloud or on-prem for customers in regulated industries (financial services, healthcare, government, defense).</li><li>Cohere hit $150M in annual recurring revenue (ARR) in October 2025, up from $100M in May 2025 and $22M in March 2024, valued at $7B as of September 2025 for a 46.7x revenue multiple.</li><li>CEO Aidan Gomez says the company expects to go public "soon", with Cohere "on a clear path to profitability" & expecting to turn a profit before 2029.</li></ul>

Cohere shifted focus to training & deploying LLMs in private cloud or on-prem for customers in regulated industries (financial services, healthcare, government, defense).Cohere hit $150M in annual recurring revenue (ARR) in October 2025, up from $100M in May 2025 and $22M in March 2024, valued at $7B as of September 2025 for a 46.7x revenue multiple.CEO Aidan Gomez says the company expects to go public "soon", with Cohere "on a clear path to profitability" & expecting to turn a profit before 2029.

<ul><li>In October 2025, LangChain raised a $125M Series B led by IVP at a $1.25B valuation, with participation from Sequoia, Benchmark, CapitalG, Sapphire Ventures, ServiceNow Ventures, Workday Ventures, Cisco Investments, Datadog, Databricks, and Frontline.</li><li>LangChain is a development platform for building applications powered by large language models.</li><li>LangChain is expanding from developer tooling into AI operations and monitoring, competing with established players such as Datadog and New Relic.</li></ul>

In October 2025, LangChain raised a $125M Series B led by IVP at a $1.25B valuation, with participation from Sequoia, Benchmark, CapitalG, Sapphire Ventures, ServiceNow Ventures, Workday Ventures, Cisco Investments, Datadog, Databricks, and Frontline.LangChain is a development platform for building applications powered by large language models.LangChain is expanding from developer tooling into AI operations and monitoring, competing with established players such as Datadog and New Relic.

<ul><li>Reducto closed a $75M Series B round in October 2025 led by Andreessen Horowitz.</li><li>Reducto operates as a B2B API service with a consumption-based SaaS model.</li><li>Reducto's hybrid approach combining traditional computer vision with modern vision-language models positions it between commodity OCR services and expensive custom solutions.</li></ul>

Reducto closed a $75M Series B round in October 2025 led by Andreessen Horowitz.Reducto operates as a B2B API service with a consumption-based SaaS model.Reducto's hybrid approach combining traditional computer vision with modern vision-language models positions it between commodity OCR services and expensive custom solutions.

<ul><li>Asteroid raised a $500K pre-seed round in April 2025 led by Y Combinator.</li><li>Asteroid is a platform that lets operations teams build AI browser agents to automate repetitive web-based tasks like form filling, data entry, and scheduling.</li><li>Asteroid operates as a B2B SaaS platform selling browser automation through a consumption-based subscription model.</li></ul>

Asteroid raised a $500K pre-seed round in April 2025 led by Y Combinator.Asteroid is a platform that lets operations teams build AI browser agents to automate repetitive web-based tasks like form filling, data entry, and scheduling.Asteroid operates as a B2B SaaS platform selling browser automation through a consumption-based subscription model.

United States

Anthropic, PBC operates as an AI safety and research company. The Company builds reliable, interpretable, and steerable AI systems. Anthropic serves customers in the United States.

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Anthropic (1892140D US)

Primer: DeepJudge - 11 Nov 2025

Tool for legal teams to search internal documents and automate knowledge-based workflows

Sacra

Cohere At $150M ARR

TL;DR: Starting as a LLM competitor to OpenAI & Anthropic, Cohere has shifted gears to compete with enterprise AI companies like Glean and Writer....

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Primer: LangChain - 21 Oct 2025

LangChain is a framework for building LLM-powered applications.

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Primer: Reducto - 15 Oct 2025

API for extracting structured data from unstructured documents like PDFs and spreadsheets

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Primer: Asteroid - 12 Oct 2025

Platform for enterprises to build and deploy AI browser agents for automating back-office tasks

Sacra

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