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 Databricks hit $7B in annualized revenue in July 2026, up from $6.9B in June 2026 and $5.4B in January 2026.</li><li>On August 13, 2026, Databricks closed a $5B strategic funding round at a $190B valuation, led by existing investors Coatue, Blackstone, MGX, and accounts advised by T. Rowe Price, alongside new investor Sixth Street Growth.</li><li>Databricks is expanding beyond analytical workloads into operational database markets through Lakebase and the acquisition of Neon, a serverless Postgres platform.</li></ul>

Sacra estimates that Databricks hit $7B in annualized revenue in July 2026, up from $6.9B in June 2026 and $5.4B in January 2026.On August 13, 2026, Databricks closed a $5B strategic funding round at a $190B valuation, led by existing investors Coatue, Blackstone, MGX, and accounts advised by T. Rowe Price, alongside new investor Sixth Street Growth.Databricks is expanding beyond analytical workloads into operational database markets through Lakebase and the acquisition of Neon, a serverless Postgres platform.

<ul><li>Sacra estimates that SingleStore hit $123M in annual recurring revenue (ARR) in September 2025, up 17% from $105M at the end of 2024.</li><li>SingleStore completed a growth buyout led by Vector Capital in October 2025, giving Vector majority ownership.</li><li>SingleStore announced $116M in financing led by Goldman Sachs Asset Management in July 2022.</li></ul>

Sacra estimates that SingleStore hit $123M in annual recurring revenue (ARR) in September 2025, up 17% from $105M at the end of 2024.SingleStore completed a growth buyout led by Vector Capital in October 2025, giving Vector majority ownership.SingleStore announced $116M in financing led by Goldman Sachs Asset Management in July 2022.

<ul><li>Databricks hit $4.8B in annualized revenue in September 2025, growing 55% YoY with 140% net dollar retention, raising a $4B+ Series L at a $134B valuation for a ~28x revenue multiple</li><li>Databricks generating ~$2.8B in revenue (~60%) from its core data platform (Spark jobs, notebooks, ML pipelines), with data warehousing (Databricks SQL) and AI products (Mosaic AI) each at a $1B run-rate (~20% each)</li><li>Pushing from data infrastructure into the application layer, nascent product lines like Lakebase for serverless Postgres (from May 2025 Neon acquisition), Agent Bricks for AI agent orchestration, and Databricks Apps for app deployment increasingly position Databricks to capture revenue from software built on top of its platform vs. just the data processing underneath it.</li></ul>

Databricks hit $4.8B in annualized revenue in September 2025, growing 55% YoY with 140% net dollar retention, raising a $4B+ Series L at a $134B valuation for a ~28x revenue multipleDatabricks generating ~$2.8B in revenue (~60%) from its core data platform (Spark jobs, notebooks, ML pipelines), with data warehousing (Databricks SQL) and AI products (Mosaic AI) each at a $1B run-rate (~20% each)Pushing from data infrastructure into the application layer, nascent product lines like Lakebase for serverless Postgres (from May 2025 Neon acquisition), Agent Bricks for AI agent orchestration, and Databricks Apps for app deployment increasingly position Databricks to capture revenue from software built on top of its platform vs. just the data processing underneath it.

<ul><li>Databricks by 2014 found product-market fit wrapping Spark with collaborative notebooks where data scientists could write familiar Python or Scala &amp; point-and-click cluster management so companies could use it without a DevOps team.</li><li>After becoming cash-flow positive with 85% gross margins (vs. Snowflake at ~70%) and maintaining 50%+ growth at $4B+ revenue scale, Databricks is positioned for a late-2025 or early-2026 IPO that could be the largest software listing since Snowflake's $33B debut in 2020, even as the product’s technical complexity and the company’s engineer-first, academic DNA potentially creates tensions with the enterprise dealmaking that will be key to sustaining growth in the public markets.</li><li>Databricks hit $4B in annualized revenue in August 2025, growing 50% YoY.</li></ul>

Databricks by 2014 found product-market fit wrapping Spark with collaborative notebooks where data scientists could write familiar Python or Scala &amp; point-and-click cluster management so companies could use it without a DevOps team.After becoming cash-flow positive with 85% gross margins (vs. Snowflake at ~70%) and maintaining 50%+ growth at $4B+ revenue scale, Databricks is positioned for a late-2025 or early-2026 IPO that could be the largest software listing since Snowflake's $33B debut in 2020, even as the product’s technical complexity and the company’s engineer-first, academic DNA potentially creates tensions with the enterprise dealmaking that will be key to sustaining growth in the public markets.Databricks hit $4B in annualized revenue in August 2025, growing 50% YoY.

<ul><li>Sacra estimates that Hebbia hit $48M in annual recurring revenue (ARR) in August 2026, up from an estimated $30M at the end of 2025.</li><li>Hebbia was valued at $700 million during its Series B funding round in July 2024, led by Andreessen Horowitz.</li><li>Hebbia reported 373% year-over-year EMEA revenue growth from FY25 to FY26, coinciding with a tripling of its EMEA team.</li></ul>

Sacra estimates that Hebbia hit $48M in annual recurring revenue (ARR) in August 2026, up from an estimated $30M at the end of 2025.Hebbia was valued at $700 million during its Series B funding round in July 2024, led by Andreessen Horowitz.Hebbia reported 373% year-over-year EMEA revenue growth from FY25 to FY26, coinciding with a tripling of its EMEA team.

United States

Data lakehouse software for managing, querying, and analyzing enterprise-scale AI and data workloads

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Databricks (DATABRICKS US)

Primer: Databricks - 17 Aug 2026

Data lakehouse software for managing, querying, and analyzing enterprise-scale AI and data workloads

Sacra

Primer: SingleStore - 12 Oct 2026

Cloud-native SQL database for real-time transactional and analytical workloads across diverse data types

Sacra

Databricks At $4.8B ARR

TL;DR: Databricks is now growing nearly 2x faster than Snowflake at comparable scale (55% vs 29% YoY), with 60% of revenue coming from its core...

Sacra

Databricks At $4B ARR Growing 50% YoY

TL;DR: After becoming cash-flow positive with 85% gross margins and 650+ customers spending over $1M annually, Databricks is positioned for what...

Sacra

Primer: Hebbia - 04 Sep 2026

AI-powered tool for querying and analyzing unstructured documents like filings and PDFs

Sacra

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