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 Deepgram hit $100M in annual recurring revenue (ARR) in August 2026, with the company announcing the milestone alongside the launch of its Flux TTS model.</li><li>Deepgram was valued at $1.3B following its $130M Series C round led by AVP in January 2026.</li><li>Deepgram has tailwinds from the rapid adoption of voice AI technology and has the opportunity to grow and expand into adjacent markets like healthcare transcription, education accessibility, and enterprise AI integration.</li></ul>

Sacra estimates that Deepgram hit $100M in annual recurring revenue (ARR) in August 2026, with the company announcing the milestone alongside the launch of its Flux TTS model.Deepgram was valued at $1.3B following its $130M Series C round led by AVP in January 2026.Deepgram has tailwinds from the rapid adoption of voice AI technology and has the opportunity to grow and expand into adjacent markets like healthcare transcription, education accessibility, and enterprise AI integration.

<ul><li>Sacra estimates that OpenAI hit $50B in annualized revenue in September 2026, up from $20B at the end of 2025.</li><li>On June 8, 2026, OpenAI filed confidentially with the SEC for an IPO targeting a valuation exceeding $1 trillion, with Goldman Sachs and Morgan Stanley leading the process.</li><li>OpenAI’s approximately $6.5B acquisition of io brought a dedicated hardware team into the company in July 2025, with Jony Ive and LoveFrom remaining independent design partners.</li></ul>

Sacra estimates that OpenAI hit $50B in annualized revenue in September 2026, up from $20B at the end of 2025.On June 8, 2026, OpenAI filed confidentially with the SEC for an IPO targeting a valuation exceeding $1 trillion, with Goldman Sachs and Morgan Stanley leading the process.OpenAI’s approximately $6.5B acquisition of io brought a dedicated hardware team into the company in July 2025, with Jony Ive and LoveFrom remaining independent design partners.

<ul><li>ElevenLabs generates revenue primarily through its AI voice platform, which is used by 41% of Fortune 500 companies.</li><li>As of February 2026, ElevenLabs raised $500M in a Series D round led by Sequoia Capital at an $11B valuation.</li><li>The company added $100M in net new ARR in Q1 2026 alone, ending the quarter at roughly $450M ARR before crossing $500M in April.</li></ul>

ElevenLabs generates revenue primarily through its AI voice platform, which is used by 41% of Fortune 500 companies.As of February 2026, ElevenLabs raised $500M in a Series D round led by Sequoia Capital at an $11B valuation.The company added $100M in net new ARR in Q1 2026 alone, ending the quarter at roughly $450M ARR before crossing $500M in April.

<ul><li>Sacra estimates that Anthropic hit $65B in annualized revenue in July 2026, up from $47B in May 2026.</li><li>The number of customers spending over $100,000 annually on Claude has grown 7x in the past year.</li><li>Anthropic filed confidentially for an IPO on June 1, 2026, at a $965 billion valuation, after closing a $65 billion Series H.</li></ul>

Sacra estimates that Anthropic hit $65B in annualized revenue in July 2026, up from $47B in May 2026.The number of customers spending over $100,000 annually on Claude has grown 7x in the past year.Anthropic filed confidentially for an IPO on June 1, 2026, at a $965 billion valuation, after closing a $65 billion Series H.

<ul><li>Sacra estimates that Mistral hit $400M in annual recurring revenue (ARR) in January 2026, up from ~$312M in December 2025 and ~$16M at end-2024.</li><li>Mistral has publicly targeted over $1B in revenue in 2026.</li><li>In June 2026, Mistral raised $3.5 billion at a $20 billion valuation, making it one of Europe's most valuable private technology companies.</li></ul>

Sacra estimates that Mistral hit $400M in annual recurring revenue (ARR) in January 2026, up from ~$312M in December 2025 and ~$16M at end-2024.Mistral has publicly targeted over $1B in revenue in 2026.In June 2026, Mistral raised $3.5 billion at a $20 billion valuation, making it one of Europe's most valuable private technology companies.

United States

APIs for speech-to-text, text-to-speech, and real-time voice understanding

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Deepgram (DEEPGRAM US)

Primer: Deepgram - 20 Aug 2026

APIs for speech-to-text, text-to-speech, and real-time voice understanding

Sacra

Primer: OpenAI - 09 Oct 2026

AI research lab offering GPT models via API and ChatGPT for consumers

Sacra

Primer: ElevenLabs - 20 Aug 2026

Tool for generating and editing human-like synthetic voices from text or samples

Sacra

Primer: Anthropic - 17 Aug 2026

API and chatbot for developers and businesses to access Claude large language models

Sacra

Primer: Mistral - 15 Jun 2026

Open-weight LLMs and AI tools for developers, enterprises, and on-premise deployment

Sacra

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