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>Pure product-led growth is giving way to a hybrid of self-serve plus inbound sales, requiring go-to-market teams to create forms (Typeform), enrich new leads (Clearbit), qualify them (HubSpot), route & schedule meetings (Calendly), and start email sequences (Outreach), with Zapier to stitch it all together.</li><li>As budget for all these tools for automation has begun to exceed the cost of CRM itself, companies like Default (Craft Ventures, $11.3M raised), Calendly ($270M ARR), and Clay (Sequoia, $62M raised) have begun bundling scheduling with lead capture, enrichment, qualification, and routing into a unified revenue ops dashboard.</li><li>I might be wrong, but I think in the next 3 to 4 years, we're going to see a lot of the same solutions, either through hardcore R&D like ZoomInfo is doing or aggressive M&A like Clari's approach.</li></ul>

Pure product-led growth is giving way to a hybrid of self-serve plus inbound sales, requiring go-to-market teams to create forms (Typeform), enrich new leads (Clearbit), qualify them (HubSpot), route & schedule meetings (Calendly), and start email sequences (Outreach), with Zapier to stitch it all together.As budget for all these tools for automation has begun to exceed the cost of CRM itself, companies like Default (Craft Ventures, $11.3M raised), Calendly ($270M ARR), and Clay (Sequoia, $62M raised) have begun bundling scheduling with lead capture, enrichment, qualification, and routing into a unified revenue ops dashboard.I might be wrong, but I think in the next 3 to 4 years, we're going to see a lot of the same solutions, either through hardcore R&D like ZoomInfo is doing or aggressive M&A like Clari's approach.

Nico Ferreyra, CEO Of Default, On Building An end-to-end Inbound Sales Platform

<ul><li>Calendly hit $270M in annual recurring revenue (ARR) at the end of 2023, up 46% year-over-year, as they push into the enterprise and fend off challenges from the bundles of Microsoft and Google.</li><li>Calendly has continued to grow close to 50% year-over-year at $100M+ revenue scale, hitting $270M ARR at the end of 2023, by integrating into hardcore B2B workflows that write to the calendar like sales (CRM), recruiting (ATS), and marketing (MAP).</li><li>At the same time, Calendly has moved upmarket to the enterprise, capitalizing on its strong bottom-up adoption in large organizations—with users in 86% of Fortune 500 companies—and leveraging its cross-functionality across different productivity suites and systems of record.</li></ul>

Calendly hit $270M in annual recurring revenue (ARR) at the end of 2023, up 46% year-over-year, as they push into the enterprise and fend off challenges from the bundles of Microsoft and Google.Calendly has continued to grow close to 50% year-over-year at $100M+ revenue scale, hitting $270M ARR at the end of 2023, by integrating into hardcore B2B workflows that write to the calendar like sales (CRM), recruiting (ATS), and marketing (MAP).At the same time, Calendly has moved upmarket to the enterprise, capitalizing on its strong bottom-up adoption in large organizations—with users in 86% of Fortune 500 companies—and leveraging its cross-functionality across different productivity suites and systems of record.

<ul><li>Software buyers have always wanted to self-educate before making a large purchase.</li><li>Time-to-value is incredibly important in product-led growth.</li><li>The days of building PLG on “easy mode” are over, and we need to accept that and embrace what’s next.</li></ul>

Software buyers have always wanted to self-educate before making a large purchase.Time-to-value is incredibly important in product-led growth.The days of building PLG on “easy mode” are over, and we need to accept that and embrace what’s next.

Blake Bartlett, Partner At OpenView, On The Future Of product-led Growth

<ul><li>Customer.io is at $1.67M in MRR, growing at 6% month-over-month.</li><li>Customer.io’s 131% net dollar retention is comparable to Front (137%) and in the top quartile of IPO’ing companies.</li><li>Customer.io's ability to retain customers and drive ever-greater revenue from them over time is a characteristic of the best SaaS companies.</li></ul>

Customer.io is at $1.67M in MRR, growing at 6% month-over-month.Customer.io’s 131% net dollar retention is comparable to Front (137%) and in the top quartile of IPO’ing companies.Customer.io's ability to retain customers and drive ever-greater revenue from them over time is a characteristic of the best SaaS companies.

Customer.Io: The $400M HubSpot Of Product-Led Growth

<ul><li>Calendly crossed $70M ARR at the beginning of the year, growing 75% year over year, and has more than 50% market share in the scheduling space.</li><li>Calendly is currently on track to pass $100M in ARR by summer 2021—if they do, they’ll have hit that milestone 3 years faster than the similarly-capital-efficient Zapier and more than 4 years faster than the now-$40B+ DocuSign.</li><li>Before raising their last round of fundraising that valued them at $3B, Calendly had raised just one round: a $550K seed in 2014.</li></ul>

Calendly crossed $70M ARR at the beginning of the year, growing 75% year over year, and has more than 50% market share in the scheduling space.Calendly is currently on track to pass $100M in ARR by summer 2021—if they do, they’ll have hit that milestone 3 years faster than the similarly-capital-efficient Zapier and more than 4 years faster than the now-$40B+ DocuSign.Before raising their last round of fundraising that valued them at $3B, Calendly had raised just one round: a $550K seed in 2014.

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Scheduling software for sales, recruiting, and success teams to book meetings via link

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Calendly (CALENDLY US)

Nico Ferreyra, CEO Of Default, On Building An end-to-end Inbound Sales Platform

What is Default and what inspired you to start the company...

Sacra

Calendly At $270M ARR

TL;DR: Sacra estimates that Calendly hit $270M in annual recurring revenue (ARR) at the end of 2023, up 46% year-over-year, as they push into the...

Sacra

Blake Bartlett, Partner At OpenView, On The Future Of product-led Growth

Sacra interview with Blake Bartlett, partner at OpenView.

Sacra

Customer.Io: The $400M HubSpot Of Product-Led Growth

Customer.io is a customer messaging platform for sending personalized, behaviorally-targeted campaigns through email, push, and SMS. Our base case...

Sacra

Calendly: The $4B DocuSign Of Scheduling

Calendly is a B2B scheduling product for sales, marketing, and success teams growing 75% yearly. Our base case values Calendly at $4B, up 30% from...

Sacra

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