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>Raycaster completed a pre-seed funding round on December 4, 2024, though the amount raised was not publicly disclosed.</li><li>Raycaster operates a B2B SaaS model targeting life sciences service providers and biotech companies.</li><li>Raycaster's success with ambient agent swarms that track patents, publications, trials, and competitive moves creates opportunities for always-on market and medical intelligence subscriptions.</li></ul>

Raycaster completed a pre-seed funding round on December 4, 2024, though the amount raised was not publicly disclosed.Raycaster operates a B2B SaaS model targeting life sciences service providers and biotech companies.Raycaster's success with ambient agent swarms that track patents, publications, trials, and competitive moves creates opportunities for always-on market and medical intelligence subscriptions.

<ul><li>Fireworks AI gave Hebbia access to state-of-the-art open models with OpenAI-style endpoints, enabling rapid deployment of buzzy models like DeepSeek without special integrations.</li><li>Hebbia's inference patterns included high-concurrency chat products for analysts, token-heavy batch document processing, and model choice flexibility—all requiring different latency profiles that benefited from Fireworks' throughput guarantees and observability tooling.</li><li>Model optionality became a key differentiator in Hebbia's enterprise sales, with Fireworks enabling them to offer both closed and open models while addressing security concerns about data retention—positioning them against competitors limited to just OpenAI and Anthropic.</li></ul>

Fireworks AI gave Hebbia access to state-of-the-art open models with OpenAI-style endpoints, enabling rapid deployment of buzzy models like DeepSeek without special integrations.Hebbia's inference patterns included high-concurrency chat products for analysts, token-heavy batch document processing, and model choice flexibility—all requiring different latency profiles that benefited from Fireworks' throughput guarantees and observability tooling.Model optionality became a key differentiator in Hebbia's enterprise sales, with Fireworks enabling them to offer both closed and open models while addressing security concerns about data retention—positioning them against competitors limited to just OpenAI and Anthropic.

Fireworks AI Customer At Hebbia On Serving state-of-the-art Models With Unified APIs

<ul><li>Sacra estimates Manus hit $90M in annualized revenue by August 2025, just five months post-launch, with Japan, the Middle East, and the U.S. as its biggest markets.</li><li>After growing their waitlist to 2 million people a week after their demo video went viral with 1M+ views, Sacra estimates that Manus hit $90M in annualized revenue in August 2025, just five months after launch, with Japan, the Middle East, and the U.S. as its biggest geographic segments by revenue.</li><li>As foundation model labs like Anthropic and OpenAI fold agentic capabilities into unified systems, Manus risks seeing commoditized its core experience of long-running agents that can read + write + execute code across different systems.</li></ul>

Sacra estimates Manus hit $90M in annualized revenue by August 2025, just five months post-launch, with Japan, the Middle East, and the U.S. as its biggest markets.After growing their waitlist to 2 million people a week after their demo video went viral with 1M+ views, Sacra estimates that Manus hit $90M in annualized revenue in August 2025, just five months after launch, with Japan, the Middle East, and the U.S. as its biggest geographic segments by revenue.As foundation model labs like Anthropic and OpenAI fold agentic capabilities into unified systems, Manus risks seeing commoditized its core experience of long-running agents that can read + write + execute code across different systems.

<ul><li>Doctronic raised a $20 million Series A in September 2025, led by Lightspeed Venture Partners.</li><li>The Series A funding will be allocated toward expanding Doctronic's multi-agent AI system and increasing the availability of licensed physicians for on-demand consultations.</li><li>Amazon One Medical presents a significant competitive challenge with its $49 video visits, $29 asynchronous messaging, and integration with Prime membership benefits.</li></ul>

Doctronic raised a $20 million Series A in September 2025, led by Lightspeed Venture Partners.The Series A funding will be allocated toward expanding Doctronic's multi-agent AI system and increasing the availability of licensed physicians for on-demand consultations.Amazon One Medical presents a significant competitive challenge with its $49 video visits, $29 asynchronous messaging, and integration with Prime membership benefits.

<ul><li>Koah raised $5 million in a seed round in September 2025, led by Forerunner Ventures with participation from South Park Commons and Andrew Karam, co-founder of AppLovin.</li><li>Koah operates as a B2B2C advertising network using a revenue-sharing model with AI application publishers.</li><li>While Koah already operates globally, there is potential for deeper expansion in Latin America, India, Indonesia, and Nigeria, which collectively account for over 1 billion English-capable mobile users.</li></ul>

Koah raised $5 million in a seed round in September 2025, led by Forerunner Ventures with participation from South Park Commons and Andrew Karam, co-founder of AppLovin.Koah operates as a B2B2C advertising network using a revenue-sharing model with AI application publishers.While Koah already operates globally, there is potential for deeper expansion in Latin America, India, Indonesia, and Nigeria, which collectively account for over 1 billion English-capable mobile users.

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: Raycaster - 02 Oct 2025

Enterprise AI all-in-one for life sciences providers to speed regulatory and legal research

Sacra

Fireworks AI Customer At Hebbia On Serving state-of-the-art Models With Unified APIs

At Hebia, what Fireworks AI features did you actually use? For example, serverless endpoints or fine tuning? And what did your typical inference...

Sacra

Manus At $90M/year

TL;DR: Founded in 2022, Manus launched in March 2025 as the first consumer-facing agent that combined agentic browser control, deep research, and...

Sacra

Primer: Doctronic - 16 Sep 2025

AI-powered health assistant providing personalized, anonymous health insights and connecting users to licensed providers instantly and affordably

Sacra

Primer: Koah - 11 Sep 2025

Advertising platform developing AI-native monetization solutions to generate revenue

Sacra

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