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>With the White House’s 2024 executive order cracking down on government vendors’ software supply chains, the market for secured container images has exploded.</li><li>Sacra estimates Chainguard hit $40M in ARR at the end of January 2025, up from $37M in ARR at year-end 2024, growing 640% from $5M in 2023.</li><li>After a 2024 White House executive order requiring all government software vendors to self-attest to the security of their software supply chain, Sacra estimates that Chainguard grew to $40M annual recurring revenue (ARR) as of January 2025.</li></ul>

With the White House’s 2024 executive order cracking down on government vendors’ software supply chains, the market for secured container images has exploded.Sacra estimates Chainguard hit $40M in ARR at the end of January 2025, up from $37M in ARR at year-end 2024, growing 640% from $5M in 2023.After a 2024 White House executive order requiring all government software vendors to self-attest to the security of their software supply chain, Sacra estimates that Chainguard grew to $40M annual recurring revenue (ARR) as of January 2025.

<ul><li>Sacra estimates that QA Wolf generated approximately $15-20 million in ARR in 2024, based on their customer base of around 130 companies and average contract values in the $100K-200K range.</li><li>QA Wolf raised $36 million in a Series B round led by Scale Venture Partners in July 2024, bringing total funding to $57 million.</li><li>The Series B funding enables QA Wolf to establish EU and APAC testing infrastructure to meet data residency requirements and reduce latency for international customers.</li></ul>

Sacra estimates that QA Wolf generated approximately $15-20 million in ARR in 2024, based on their customer base of around 130 companies and average contract values in the $100K-200K range.QA Wolf raised $36 million in a Series B round led by Scale Venture Partners in July 2024, bringing total funding to $57 million.The Series B funding enables QA Wolf to establish EU and APAC testing infrastructure to meet data residency requirements and reduce latency for international customers.

<ul><li>Sacra estimates that Sentry hit $128M annual recurring revenue (ARR) on 50,000 customers by the end of 2023, growing 30% year-over-year, valued at ~23x its Series E financing at “over $3 billion” announced in May 2022.</li><li>Sentry employs a hybrid open-source and self-serve SaaS business model that is unique in the application performance monitoring (APM) space.</li><li>Sentry is expanding its total addressable market (TAM) by moving upmarket from error tracking to application performance monitoring (APM).</li></ul>

Sacra estimates that Sentry hit $128M annual recurring revenue (ARR) on 50,000 customers by the end of 2023, growing 30% year-over-year, valued at ~23x its Series E financing at “over $3 billion” announced in May 2022.Sentry employs a hybrid open-source and self-serve SaaS business model that is unique in the application performance monitoring (APM) space.Sentry is expanding its total addressable market (TAM) by moving upmarket from error tracking to application performance monitoring (APM).

<ul><li>Snyk (2015) grew to 100K developers in 2 years with its free vulnerability scanning tool that made it easy for Node.js developers to hook up a GitHub repo and automatically scan all its open source dependencies for known vulnerabilities.</li><li>Shrinking development cycles have obsoleted the traditional security review, shifting responsibility for app security from security teams to developers themselves, giving Snyk tailwinds such that Sacra estimates ARR hit $250M in 2023, up 25% year-over-year.</li><li>Snyk is now rebundling security around the developer, taking on incumbents like Palo Alto Networks and Wiz as they expand into container security (Aqua Security), infrastructure-as-code protection (HashiCorp), and cloud security (Wiz).</li></ul>

Snyk (2015) grew to 100K developers in 2 years with its free vulnerability scanning tool that made it easy for Node.js developers to hook up a GitHub repo and automatically scan all its open source dependencies for known vulnerabilities.Shrinking development cycles have obsoleted the traditional security review, shifting responsibility for app security from security teams to developers themselves, giving Snyk tailwinds such that Sacra estimates ARR hit $250M in 2023, up 25% year-over-year.Snyk is now rebundling security around the developer, taking on incumbents like Palo Alto Networks and Wiz as they expand into container security (Aqua Security), infrastructure-as-code protection (HashiCorp), and cloud security (Wiz).

<ul><li>Sentry hit $128M annual recurring revenue (ARR) in 2023, growing 30% year-over-year, with 50,000 paying customers.</li><li>With the launch of performance monitoring, session replays, and code coverage, Sentry is now positioning as a bottom-up, developer-centric competitor to enterprise-focused incumbents like New Relic.</li><li>Sentry has prioritized self-serve (70% of total revenue) and kept sales & marketing headcount low, investing in product & engineering to launch new products & features into their existing SDK.</li></ul>

Sentry hit $128M annual recurring revenue (ARR) in 2023, growing 30% year-over-year, with 50,000 paying customers.With the launch of performance monitoring, session replays, and code coverage, Sentry is now positioning as a bottom-up, developer-centric competitor to enterprise-focused incumbents like New Relic.Sentry has prioritized self-serve (70% of total revenue) and kept sales & marketing headcount low, investing in product & engineering to launch new products & features into their existing SDK.

Sentry: The $128M ARR Error Tracker Disrupting New Relic

United States

Containerization tool for developers to build, share, and run applications in isolation

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Docker (DOCKER US)

$40M/yr Vanta For Containers

TL;DR: With the White House’s 2024 executive order cracking down on government vendors’ software supply chains, the market for secured container...

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Primer: QA Wolf - 04 Jun 2025

AI-native service providing 80% automated end-to-end test coverage for web and mobile applications in weeks not years

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Primer: Sentry - 07 Dec 2024

Error tracking and performance monitoring tool for web and mobile app developers

Sacra

Snyk At $250M ARR

TL;DR: Sacra estimates that Snyk hit $250M annual recurring revenue (ARR) in 2023, up 25% year-over-year, as they rebundle the entire app security...

Sacra

Sentry: The $128M ARR Error Tracker Disrupting New Relic

TL;DR: Sacra estimates that Sentry hit $128M annual recurring revenue (ARR) in 2023, growing 30% year-over-year, with 50,000 paying customers....

Sacra

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