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 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

<ul><li>The early use cases were simple CRUD applications where somebody was displaying data from their database in a table and then providing a form to edit and update that data or add new data.</li><li>Today of course, we have a lot of Fortune 100, Fortune 500 companies using us where people will have thousands of users on Appsmith.</li><li>Appsmith today has around 10,000 companies that use us every month, but we have sent zero cold emails and we have never run ads.</li></ul>

The early use cases were simple CRUD applications where somebody was displaying data from their database in a table and then providing a form to edit and update that data or add new data.Today of course, we have a lot of Fortune 100, Fortune 500 companies using us where people will have thousands of users on Appsmith.Appsmith today has around 10,000 companies that use us every month, but we have sent zero cold emails and we have never run ads.

Abhishek Nayak, CEO Of Appsmith, On Building An Open Source Internal Tool Builder

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

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Docker (DOCKER US)

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

Sacra

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

Abhishek Nayak, CEO Of Appsmith, On Building An Open Source Internal Tool Builder

Sacra interview with Abhishek Nayak, CEO and co-founder of Appsmith.

Sacra

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