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>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.

<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>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.

Strand Therapeutics / Private Capital Markets

<ul><li>Strand Therapeutics raised $153 million in a Series B round led by Kinnevik in August 2025, bringing the company's valuation to approximately $550 million.</li><li>The lead product, STX-001, is administered via direct injection into tumors and encodes mRNA instructions for producing interleukin-12 (IL-12), an immune-stimulating protein.</li><li>Phase 1 data from 22 checkpoint-refractory cancer patients reported one complete response and multiple partial responses, with no dose-limiting toxicities observed.</li></ul>

Strand Therapeutics raised $153 million in a Series B round led by Kinnevik in August 2025, bringing the company's valuation to approximately $550 million.The lead product, STX-001, is administered via direct injection into tumors and encodes mRNA instructions for producing interleukin-12 (IL-12), an immune-stimulating protein.Phase 1 data from 22 checkpoint-refractory cancer patients reported one complete response and multiple partial responses, with no dose-limiting toxicities observed.

Primer: Strand Therapeutics - 07 Dec 2025

<ul><li>In October 2025, Lila Sciences raised $115 million in a Series A extension led by new investors including Nvidia’s venture arm, bringing total Series A funding to $350 million and overall capital raised to $550 million and lifting the company’s valuation to ~$1.3 billion.</li><li>Lila Sciences develops AI Science Factories, fully automated laboratory facilities that integrate large foundation-scale scientific language models with general-purpose lab robots, sensors, and data infrastructure.</li><li>Lila operates across biological therapeutics, genetic medicine, materials science, and chemical catalysis using a unified platform.</li></ul>

In October 2025, Lila Sciences raised $115 million in a Series A extension led by new investors including Nvidia’s venture arm, bringing total Series A funding to $350 million and overall capital raised to $550 million and lifting the company’s valuation to ~$1.3 billion.Lila Sciences develops AI Science Factories, fully automated laboratory facilities that integrate large foundation-scale scientific language models with general-purpose lab robots, sensors, and data infrastructure.Lila operates across biological therapeutics, genetic medicine, materials science, and chemical catalysis using a unified platform.

United States

BillionToOne, Inc. operates as a diagnostics company. The Company provides quantitative counting templates that detects genetic disorders in the developing baby from maternal blood, as well as invents in the patent-pending molecular counter platform, which increases the resolution of cell-free DNA detection. BillionToOne serves customers in the United States.

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BillionToOne (BLLN US)

Primer: BillionToOne - 18 May 2026

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

Sacra

Primer: Benchling - 19 Apr 2026

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

Sacra

Primer: Apeel - 09 Mar 2026

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

Sacra

Primer: Strand Therapeutics - 07 Dec 2025

mRNA therapy developer using genetic circuits for targeted cancer and immune system activation

Sacra

Primer: Lila Sciences - 15 Oct 2025

AI platform combining generative AI with autonomous labs to accelerate scientific discovery in life, chemical, and materials sciences

Sacra

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