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>Reflection AI was valued at $27.5B following its $2.5B funding round in March 2026.</li><li>Reflection AI operates a B2B SaaS model targeting enterprise engineering organizations.</li><li>Reflection AI can expand beyond code research into adjacent areas of the software development lifecycle.</li></ul>

Reflection AI was valued at $27.5B following its $2.5B funding round in March 2026.Reflection AI operates a B2B SaaS model targeting enterprise engineering organizations.Reflection AI can expand beyond code research into adjacent areas of the software development lifecycle.

<ul><li>Warp raised $50 million in a Series B round in June 2023, led by Sequoia Capital.</li><li>Warp 2.0 introduces the Agentic Development Environment (open-sourced April 2026), which deploys multiple long-running AI agents capable of editing code, executing commands, and managing workflows concurrently.</li><li>Warp has surpassed 1 million active developers, up from over 500,000 previously reported.</li></ul>

Warp raised $50 million in a Series B round in June 2023, led by Sequoia Capital.Warp 2.0 introduces the Agentic Development Environment (open-sourced April 2026), which deploys multiple long-running AI agents capable of editing code, executing commands, and managing workflows concurrently.Warp has surpassed 1 million active developers, up from over 500,000 previously reported.

<ul><li>Sacra estimates that Cursor hit $4B in annualized revenue in May 2026, up from $1.2B at the end of 2025.</li><li>On June 16, 2026, SpaceX signed a definitive agreement to acquire Cursor for $60B, with the deal expected to close in Q3 2026.</li><li>Cursor was founded in 2022 by Michael Truell, Sualeh Asif, Arvid Lunnemark, and Aman Sanger while they were students at MIT.</li></ul>

Sacra estimates that Cursor hit $4B in annualized revenue in May 2026, up from $1.2B at the end of 2025.On June 16, 2026, SpaceX signed a definitive agreement to acquire Cursor for $60B, with the deal expected to close in Q3 2026.Cursor was founded in 2022 by Michael Truell, Sualeh Asif, Arvid Lunnemark, and Aman Sanger while they were students at MIT.

<ul><li>Sacra estimates that Replit hit $525M in annualized revenue in April 2026, up from $300M at the end of 2025 (+1,775% year-over-year).</li><li>The introduction of usage-based agent pricing in late 2024 dramatically expanded average revenue per user, particularly among developers and small teams paying for compute-intensive AI assistance.</li><li>In March 2026, Replit raised $400M in a Series D led by Georgian at a $9B valuation—3x its valuation from six months prior.</li></ul>

Sacra estimates that Replit hit $525M in annualized revenue in April 2026, up from $300M at the end of 2025 (+1,775% year-over-year).The introduction of usage-based agent pricing in late 2024 dramatically expanded average revenue per user, particularly among developers and small teams paying for compute-intensive AI assistance.In March 2026, Replit raised $400M in a Series D led by Georgian at a $9B valuation—3x its valuation from six months prior.

<ul><li>Sacra estimates Codeium hit $82M ARR in July 2025, up from $40M in February 2025, at the time of its acquisition by Cognition.</li><li>Over 1,000 businesses use Codeium, including marquee names like Zillow, Dell, and Anduril.</li><li>Enterprise ARR was doubling quarter-over-quarter as of the July 2025 Cognition acquisition announcement, with 350+ enterprise customers at that time.</li></ul>

Sacra estimates Codeium hit $82M ARR in July 2025, up from $40M in February 2025, at the time of its acquisition by Cognition.Over 1,000 businesses use Codeium, including marquee names like Zillow, Dell, and Anduril.Enterprise ARR was doubling quarter-over-quarter as of the July 2025 Cognition acquisition announcement, with 350+ enterprise customers at that time.

United States

Browser-based tool for non-developers to build full-stack web and mobile apps with AI

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Bolt.new (NEW US)

Primer: Reflection AI - 26 Aug 2026

AI company developing superintelligent autonomous systems, starting with coding agents

Sacra

Primer: Warp - 19 Aug 2026

AI-powered terminal emulator for developers to write, run, and debug code collaboratively

Sacra

Primer: Cursor - 01 Jul 2026

AI-native IDE for developers to write, edit, and debug code with LLMs

Sacra

Primer: Replit - 28 May 2026

Browser-based code editor with real-time collaboration, AI assistance, and one-click deployment

Sacra

Primer: Codeium - 09 Mar 2026

AI-powered coding tool for autocompletion, code review, and error detection across IDEs

Sacra

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