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 that PostHog is at $9.5M annual recurring revenue (ARR) as of March 2024, up 138% year-over-year and 87x since March 2021 when they turned on their self-serve, cloud-hosted product.</li><li>PostHog (launched 2020) found product-market fit cutting the time developers spend setting up product analytics, feature flagging, and session replay to ~1 day instead of ~2 weeks by auto-capturing events via a Javascript snippet (“posthog.js”) embedded on the site.</li><li>PostHog is building an Atlassian-esque, all-in-one platform with an embedded CDP to take on Segment, an embedded data warehouse to take on Snowflake, and embedded ETL to take on Fivetran, with the goal of becoming a company’s core router for customer and user data.</li></ul>

Sacra estimates that PostHog is at $9.5M annual recurring revenue (ARR) as of March 2024, up 138% year-over-year and 87x since March 2021 when they turned on their self-serve, cloud-hosted product.PostHog (launched 2020) found product-market fit cutting the time developers spend setting up product analytics, feature flagging, and session replay to ~1 day instead of ~2 weeks by auto-capturing events via a Javascript snippet (“posthog.js”) embedded on the site.PostHog is building an Atlassian-esque, all-in-one platform with an embedded CDP to take on Segment, an embedded data warehouse to take on Snowflake, and embedded ETL to take on Fivetran, with the goal of becoming a company’s core router for customer and user data.

PostHog: The $9.5M/year Anti Modern Data Stack Company

<ul><li>Fivetran ($5.6B) found initial product-market fit as the “Zapier” of ETL, saving data engineers time piping data from SaaS apps into a data warehouse by building and maintaining ~200 connectors for the most popular applications.</li><li>Fivetran made $95M in 2021, growing revenue by $30M after acquiring enterprise competitor HVR to move upmarket—they’re now projected to hit $190M by the end of 2022.</li><li>Today, there’s a growing trend of SaaS companies like Stripe, Salesforce and Customer.io offering native data warehouse integrations that increase retention/activation and revenue (Stripe charges $0.03 per transaction).</li></ul>

Fivetran ($5.6B) found initial product-market fit as the “Zapier” of ETL, saving data engineers time piping data from SaaS apps into a data warehouse by building and maintaining ~200 connectors for the most popular applications.Fivetran made $95M in 2021, growing revenue by $30M after acquiring enterprise competitor HVR to move upmarket—they’re now projected to hit $190M by the end of 2022.Today, there’s a growing trend of SaaS companies like Stripe, Salesforce and Customer.io offering native data warehouse integrations that increase retention/activation and revenue (Stripe charges $0.03 per transaction).

<ul><li>The data warehouse becoming the center of gravity in the organization.</li><li>Product-led growth as a capital efficient, low-CAC strategy for growth.</li><li>For medium and established companies, we&#39;ve focused more on the sales motion, in particular the bottoms-up product-led motion.</li></ul>

The data warehouse becoming the center of gravity in the organization.Product-led growth as a capital efficient, low-CAC strategy for growth.For medium and established companies, we&#39;ve focused more on the sales motion, in particular the bottoms-up product-led motion.

Thomas Schiavone, co-founder And CEO Of Calixa, On The PLG Data Pipeline

<ul><li>We talked with Earl about why building for product-led growth teams is such a big opportunity, where value accrues in the "modern data stack" value chain, and why the data warehouse is an existential risk for companies like Salesforce.</li><li>One thing that a lot of companies in this PLG CRM category converge upon is moving beyond just displaying usage data in a way that is actionable for sales reps.</li><li>The big shift that we're bullish on is the shift towards product-led sales and the opportunity to rebuild the go-to-market stack from the ground up, because fundamentally the business processes are different.</li></ul>

We talked with Earl about why building for product-led growth teams is such a big opportunity, where value accrues in the "modern data stack" value chain, and why the data warehouse is an existential risk for companies like Salesforce.One thing that a lot of companies in this PLG CRM category converge upon is moving beyond just displaying usage data in a way that is actionable for sales reps.The big shift that we're bullish on is the shift towards product-led sales and the opportunity to rebuild the go-to-market stack from the ground up, because fundamentally the business processes are different.

Earl Lee, co-founder And CEO Of HeadsUp, On The Modern Data Stack Value Chain

<ul><li>The data warehouse is becoming the new center of gravity in the organization—and why that threatens the moats of companies like Salesforce.</li><li>What changed is that, in addition to becoming super scalable and cheaper, they also started to shift the story of the types of data you could throw at it, what speed, over what timeframe.</li><li>Part of the real selling point for us with this operational analytics push is this data is now available near time, almost instantly.</li></ul>

The data warehouse is becoming the new center of gravity in the organization—and why that threatens the moats of companies like Salesforce.What changed is that, in addition to becoming super scalable and cheaper, they also started to shift the story of the types of data you could throw at it, what speed, over what timeframe.Part of the real selling point for us with this operational analytics push is this data is now available near time, almost instantly.

Sean Lynch, co-founder Of Census, On Reverse Etl's Role In The Modern Data Stack

United States

Data syncing tool for sending warehouse data to sales, marketing, and support apps

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PostHog: The $9.5M/year Anti Modern Data Stack Company

TL;DR: PostHog hit $9.5M annual recurring revenue (ARR) this month, up 138% year-over-year, with their all-in-one analytics platform that bundles...

Sacra

Fivetran: The $200M/yr Zapier Of ETL

Fivetran ($5.6B) has built a ~$190M a year business as the Zapier of ETL, but like Zapier, they face an existential threat as SaaS companies like...

Sacra

Thomas Schiavone, co-founder And CEO Of Calixa, On The PLG Data Pipeline

Sacra interview with Thomas Schiavone, the co-founder and CEO of Calixa.

Sacra

Earl Lee, co-founder And CEO Of HeadsUp, On The Modern Data Stack Value Chain

Sacra interview with HeadsUp CEO and co-founder Earl Lee on the modern data stack, reverse ETL, the data warehouse, and the PLG CRM.

Sacra

Sean Lynch, co-founder Of Census, On Reverse Etl's Role In The Modern Data Stack

The Sacra interview with Census co-founder Sean Lynch on reverse ETL, product-led growth, and the modern data stack.

Sacra

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