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>Clay split its pricing to charge separately for data and for workflows—cutting data costs 50-90% while adding a new "Actions" meter on every workflow step, shifting monetization from data enrichment to orchestration.</li><li>Sacra estimates Clay hit $150M ARR in May 2026, up from $100M in November 2025, raising at $5B in a January tender offer for a 43.5x multiple on ~$115M in January ARR.</li><li>Clay, HubSpot ($3.1B revenue, +19% YoY, $9.4B market cap), and Apollo ($150M ARR) are now going head-to-head across the AI GTM stack.</li></ul>

Clay split its pricing to charge separately for data and for workflows—cutting data costs 50-90% while adding a new "Actions" meter on every workflow step, shifting monetization from data enrichment to orchestration.Sacra estimates Clay hit $150M ARR in May 2026, up from $100M in November 2025, raising at $5B in a January tender offer for a 43.5x multiple on ~$115M in January ARR.Clay, HubSpot ($3.1B revenue, +19% YoY, $9.4B market cap), and Apollo ($150M ARR) are now going head-to-head across the AI GTM stack.

<ul><li>Sacra estimates that Clay hit $200M ARR in September 2026.</li><li>In January 2026, Clay reached a $5 billion valuation following a $55 million employee tender offer led by DST.</li><li>The pricing change cut many native enrichment costs by 50-90%, stopped charging for failed enrichment lookups, and moved CRM sync, HTTP APIs, and Web Intent down from the old $800 Pro tier into the new $495 Growth tier.</li></ul>

Sacra estimates that Clay hit $200M ARR in September 2026.In January 2026, Clay reached a $5 billion valuation following a $55 million employee tender offer led by DST.The pricing change cut many native enrichment costs by 50-90%, stopped charging for failed enrichment lookups, and moved CRM sync, HTTP APIs, and Web Intent down from the old $800 Pro tier into the new $495 Growth tier.

<ul><li>Clay has emerged as one of the key systems of record for modern go-to-market teams.</li><li>Sacra estimates Clay hit $100M ARR in November 2025, up 263% YoY, valued at $3.1B as of its June Series C led by CapitalG for a 31x forward revenue multiple.</li><li>Clay positions as complementary with a bring-your-own-API-key model that lets teams run enrichments in Clay using their all-in-one’s API & credits without double counting against Clay credits, and still benefit from Clay for orchestration.</li></ul>

Clay has emerged as one of the key systems of record for modern go-to-market teams.Sacra estimates Clay hit $100M ARR in November 2025, up 263% YoY, valued at $3.1B as of its June Series C led by CapitalG for a 31x forward revenue multiple.Clay positions as complementary with a bring-your-own-API-key model that lets teams run enrichments in Clay using their all-in-one’s API & credits without double counting against Clay credits, and still benefit from Clay for orchestration.

<ul><li>Sacra estimates that Sierra hit $200M in ARR in May 2026, up from ~$130M at the end of 2025 and $26M at the end of 2024.</li><li>In May 2026, Sierra raised a $950 million Series E led by GV and Tiger Global, with participation from Benchmark, Sequoia, and Greenoaks, at a post-money valuation of $15.8 billion, bringing total cash on hand to over $1 billion.</li><li>Sierra AI has tailwinds from the massive customer service market transformation and has the opportunity to grow and expand into adjacent markets beyond its current AI-powered customer service solutions.</li></ul>

Sacra estimates that Sierra hit $200M in ARR in May 2026, up from ~$130M at the end of 2025 and $26M at the end of 2024.In May 2026, Sierra raised a $950 million Series E led by GV and Tiger Global, with participation from Benchmark, Sequoia, and Greenoaks, at a post-money valuation of $15.8 billion, bringing total cash on hand to over $1 billion.Sierra AI has tailwinds from the massive customer service market transformation and has the opportunity to grow and expand into adjacent markets beyond its current AI-powered customer service solutions.

<ul><li>Sequence raised $19M in a seed round announced in September 2022, led by Andreessen Horowitz with participation from Salesforce Ventures.</li><li>Sequence is an AI-native quote-to-revenue platform that replaces multiple point solutions in the B2B SaaS billing stack with a single workflow.</li><li>The October 2025 launch of Sequence 2.0 expanded the platform from usage billing into a complete quote-to-revenue suite including CPQ and ASC-606 revenue recognition.</li></ul>

Sequence raised $19M in a seed round announced in September 2022, led by Andreessen Horowitz with participation from Salesforce Ventures.Sequence is an AI-native quote-to-revenue platform that replaces multiple point solutions in the B2B SaaS billing stack with a single workflow.The October 2025 launch of Sequence 2.0 expanded the platform from usage billing into a complete quote-to-revenue suite including CPQ and ASC-606 revenue recognition.

United States

Dashboard for sales and marketing teams to enrich leads and automate outreach workflows

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Clay (CLAY US)

Clay Crosses $150M/year

TL;DR: In March 2026, Clay split its pricing to charge separately for data and for workflows—cutting data costs 50-90% while adding a new "Actions"...

Sacra

Primer: Clay - 30 Jun 2026

Dashboard for sales and marketing teams to enrich leads and automate outreach workflows

Sacra

Clay Vs Apollo

TL;DR: As AI has swept through sales and growth teams, Clay has emerged as one of the key systems of record for modern go-to-market teams. Sacra...

Sacra

Primer: Sierra - 14 Jul 2026

Conversational AI tool for enterprises to automate customer service across chat and voice

Sacra

Primer: Sequence - 11 Dec 2025

Platform for B2B SaaS companies to automate billing with advanced usage metering and flexible pricing models

Sacra

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