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>Apeel has raised $640M from Andreessen Horowitz, GIC, Temasek, and celebrity investors like Oprah Winfrey and Katy Perry.</li><li>Apeel processes fruits and vegetable waste such as peels, seeds, and pulps to create a water-soluble powder.</li><li>Apeel recently acquired spectral imaging startup ImpactVision, which lets growers see inside their produce to understand its ripening window.</li></ul>

Apeel has raised $640M from Andreessen Horowitz, GIC, Temasek, and celebrity investors like Oprah Winfrey and Katy Perry.Apeel processes fruits and vegetable waste such as peels, seeds, and pulps to create a water-soluble powder.Apeel recently acquired spectral imaging startup ImpactVision, which lets growers see inside their produce to understand its ripening window.

<ul><li>Sacra estimates BillionToOne hit $153M in revenue in 2024, more than doubling from $72M in 2023, representing 112% year-over-year growth.</li><li>The company generates revenue primarily through its prenatal testing business, which has captured 15% market share in the US and is profitable.</li><li>BillionToOne reached a valuation of over $1 billion following a $130 million Series D financing round.</li></ul>

Sacra estimates BillionToOne hit $153M in revenue in 2024, more than doubling from $72M in 2023, representing 112% year-over-year growth.The company generates revenue primarily through its prenatal testing business, which has captured 15% market share in the US and is profitable.BillionToOne reached a valuation of over $1 billion following a $130 million Series D financing round.

Redwood Materials / Private Capital Markets

<ul><li>In January 2026, Redwood Materials closed its $425M Series E led by Eclipse and with participation from Alphabet&#39;s Google, valuing the company at more than $6B.</li><li>Redwood Materials was founded in 2017 by JB Straubel, former Tesla co-founder and CTO, to address the growing need for sustainable battery materials in the electric vehicle industry.</li><li>Redwood Materials has tailwinds from the rapid growth of electric vehicle adoption and battery manufacturing, alongside increasing government support for domestic battery supply chains.</li></ul>

In January 2026, Redwood Materials closed its $425M Series E led by Eclipse and with participation from Alphabet&#39;s Google, valuing the company at more than $6B.Redwood Materials was founded in 2017 by JB Straubel, former Tesla co-founder and CTO, to address the growing need for sustainable battery materials in the electric vehicle industry.Redwood Materials has tailwinds from the rapid growth of electric vehicle adoption and battery manufacturing, alongside increasing government support for domestic battery supply chains.

<ul><li>Sacra estimates that Benchling hit $210M in annualized recurring revenue (ARR) in May 2024, up 27% year-over-year from $145M in 2022.</li><li>Benchling&#39;s revenue growth has gradually moderated as the company has scaled, from 175% in 2019 to 100% in 2020, 82% in 2021, 45% in 2022 and a projected 27% for the full year 2024.</li><li>Benchling was valued at $6.1 billion as of its November 2021 Series F.</li></ul>

Sacra estimates that Benchling hit $210M in annualized recurring revenue (ARR) in May 2024, up 27% year-over-year from $145M in 2022.Benchling&#39;s revenue growth has gradually moderated as the company has scaled, from 175% in 2019 to 100% in 2020, 82% in 2021, 45% in 2022 and a projected 27% for the full year 2024.Benchling was valued at $6.1 billion as of its November 2021 Series F.

<ul><li>We estimate that Bolt Threads made about $23M in revenue in 2021, growing about 35% from 2020.</li><li>Bolt Threads went public via SPAC and traded on Nasdaq under the ticker BSLK.</li><li>Nasdaq ultimately notified Bolt on December 31, 2025 that it would be delisted for failing to meet the minimum equity standard.</li></ul>

We estimate that Bolt Threads made about $23M in revenue in 2021, growing about 35% from 2020.Bolt Threads went public via SPAC and traded on Nasdaq under the ticker BSLK.Nasdaq ultimately notified Bolt on December 31, 2025 that it would be delisted for failing to meet the minimum equity standard.

United States

Plant-based coating that extends shelf life of produce for retailers and suppliers

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Apeel (APEEL US)

Primer: Apeel - 09 Mar 2026

Plant-based coating that extends shelf life of produce for retailers and suppliers

Sacra

Primer: BillionToOne - 18 May 2026

Genetic testing tool for prenatal screening and cancer therapy selection via blood samples

Sacra

Primer: Redwood Materials - 12 May 2026

Recycling and remanufacturing system for lithium-ion battery materials like lithium and nickel

Sacra

Primer: Benchling - 19 Apr 2026

Software for biotech teams to design, document, and manage scientific experiments and samples

Sacra

Primer: Bolt Threads - 09 Mar 2026

Biomaterials company developing lab-grown silk and mycelium-based leather alternatives for fashion brands

Sacra

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