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>By the time of the bankruptcy filing in early 2025, Bench had accumulated over $65M in debt alongside its $113M in equity raised.</li><li>Employer.com acquired the business on December 30, 2024, and a Canadian court approved the asset sale in March 2025.</li><li>Under Employer.com, Bench is now one component of a broader back-office platform that also includes payroll, global hiring, tax credits via MainStreet, and AI-enabled accounting software from the Dough acquisition.</li></ul>

By the time of the bankruptcy filing in early 2025, Bench had accumulated over $65M in debt alongside its $113M in equity raised.Employer.com acquired the business on December 30, 2024, and a Canadian court approved the asset sale in March 2025.Under Employer.com, Bench is now one component of a broader back-office platform that also includes payroll, global hiring, tax credits via MainStreet, and AI-enabled accounting software from the Dough acquisition.

<ul><li>Light raised a $30 million Series A in September 2025 led by Balderton Capital.</li><li>Light rebuilds the entire back office of scaling companies around an AI-native general ledger.</li><li>Oracle NetSuite dominates the mid-market ERP space and is adding AI capabilities to defend against AI-native challengers.</li></ul>

Light raised a $30 million Series A in September 2025 led by Balderton Capital.Light rebuilds the entire back office of scaling companies around an AI-native general ledger.Oracle NetSuite dominates the mid-market ERP space and is adding AI capabilities to defend against AI-native challengers.

<ul><li>Pilot hit about $43M ARR in 2022, up 30% from the year before.</li><li>Pilot announced crossing 1,000 customers in 2020, and was at roughly 1,700 at the end of 2022.</li><li>Pilot is in the early stages of competing with other cloud-based back-office SaaS like QuickBooks, Gusto, Brex, and Ramp.</li></ul>

Pilot hit about $43M ARR in 2022, up 30% from the year before.Pilot announced crossing 1,000 customers in 2020, and was at roughly 1,700 at the end of 2022.Pilot is in the early stages of competing with other cloud-based back-office SaaS like QuickBooks, Gusto, Brex, and Ramp.

Canada

Bookkeeping and tax software with dedicated human support for small business owners

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Bench (BENCH CA)

Primer: Bench - 09 Mar 2026

Subscription online bookkeeping and tax filing service that pairs accounting software with dedicated human bookkeepers

Sacra

Primer: Light - 25 Sep 2025

AI-powered finance platform for automating accounting, bookkeeping, and financial reporting

Sacra

Primer: Pilot - 07 Dec 2024

Tech-enabled bookkeeping service with human-in-the-loop built on top of QuickBooks

Sacra

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