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>ComfyUI raised $30 million at a $500 million valuation in a round led by Craft Ventures in April 2026, bringing total capital raised to approximately $47.5 million.</li><li>Since launching as open source in early 2023, ComfyUI has grown to over 4 million users and more than 150,000 daily downloads.</li><li>The risk is that these simplified tools continue adding advanced features while maintaining their accessibility advantage, potentially commoditizing ComfyUI's power-user moat.</li></ul>

ComfyUI raised $30 million at a $500 million valuation in a round led by Craft Ventures in April 2026, bringing total capital raised to approximately $47.5 million.Since launching as open source in early 2023, ComfyUI has grown to over 4 million users and more than 150,000 daily downloads.The risk is that these simplified tools continue adding advanced features while maintaining their accessibility advantage, potentially commoditizing ComfyUI's power-user moat.

<ul><li>Sacra estimates OpenArt hit $100M ARR in June 2026, up 43% from $70M at the end of 2025 and 400% YoY from $20M in June 2025.</li><li>OpenArt raised $30M in a Series A round led by Canaan Partners in January 2026, with participation from Basis Set Ventures and DCM Ventures.</li><li>OpenArt's expansion into video represents a natural evolution of their core competencies in image generation.</li></ul>

Sacra estimates OpenArt hit $100M ARR in June 2026, up 43% from $70M at the end of 2025 and 400% YoY from $20M in June 2025.OpenArt raised $30M in a Series A round led by Canaan Partners in January 2026, with participation from Basis Set Ventures and DCM Ventures.OpenArt's expansion into video represents a natural evolution of their core competencies in image generation.

Black Forest Labs / Private Capital Markets

<ul><li>Sacra estimates that Black Forest Labs hit $96M in annualized revenue as of August 2025.</li><li>Black Forest Labs raised $31 million in a seed round led by Andreessen Horowitz in August 2024.</li><li>Black Forest Labs is a generative AI company that develops the Flux family of diffusion models for creating and editing images and video.</li></ul>

Sacra estimates that Black Forest Labs hit $96M in annualized revenue as of August 2025.Black Forest Labs raised $31 million in a seed round led by Andreessen Horowitz in August 2024.Black Forest Labs is a generative AI company that develops the Flux family of diffusion models for creating and editing images and video.

<ul><li>Sacra estimates that Midjourney hit $200 million in annual recurring revenue (ARR) as of 2023.</li><li>On August 22, 2025, Midjourney announced a strategic partnership with Meta to license its aesthetic technology for future Meta models and products.</li><li>Video generation represents Midjourney&#39;s most significant TAM expansion opportunity, addressing a market estimated at $26 billion by 2027.</li></ul>

Sacra estimates that Midjourney hit $200 million in annual recurring revenue (ARR) as of 2023.On August 22, 2025, Midjourney announced a strategic partnership with Meta to license its aesthetic technology for future Meta models and products.Video generation represents Midjourney&#39;s most significant TAM expansion opportunity, addressing a market estimated at $26 billion by 2027.

<ul><li>The explosion of post-Midjourney ($200M in ARR in 2023) generative AI image generators like Ideogram, Playground AI and Craiyon that grew fast in a rapidly expanding market now face diminishing differentiation and margin pressure as the market has been saturated by tools with increasingly similar capabilities.</li><li>Creating a workflow that brings together many tools—fine-tuning of open source models (Stability AI, Flux), character persistence (img2img), voice generation (ElevenLabs), image-to-video (Kling, Hailuo), and others—builds value on top of the foundation models even as they individually improve by allowing users to orchestrate end-to-end creations without extensive prompt engineering.</li><li>Looking ahead to the rest of 2025, our vision tackles both automation and fundamental creative challenges.</li></ul>

The explosion of post-Midjourney ($200M in ARR in 2023) generative AI image generators like Ideogram, Playground AI and Craiyon that grew fast in a rapidly expanding market now face diminishing differentiation and margin pressure as the market has been saturated by tools with increasingly similar capabilities.Creating a workflow that brings together many tools—fine-tuning of open source models (Stability AI, Flux), character persistence (img2img), voice generation (ElevenLabs), image-to-video (Kling, Hailuo), and others—builds value on top of the foundation models even as they individually improve by allowing users to orchestrate end-to-end creations without extensive prompt engineering.Looking ahead to the rest of 2025, our vision tackles both automation and fundamental creative challenges.

Coco Mao, CEO Of OpenArt, On Building The TikTok For AI Video

United States

Open-source, node-based application for generating images, videos, and audio using AI

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ComfyUI (COMFYUI US)

Primer: ComfyUI - 26 Apr 2026

Open-source, node-based application for generating images, videos, and audio using AI

Sacra

Primer: OpenArt - 08 Oct 2026

Tool for generating and editing AI images and videos from text-based stories

Sacra

Primer: Black Forest Labs - 15 Jun 2026

Developer of advanced generative deep learning models for images and videos emphasizing broad accessibility and transparency

Sacra

Primer: Midjourney - 14 Dec 2025

AI image generation tool for creating visuals from text prompts via web or Discord

Sacra

Coco Mao, CEO Of OpenArt, On Building The TikTok For AI Video

Who were your first customers at OpenArt and what do people typically use it for...

Sacra

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