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>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>Higgsfield hit $1B in annualized revenue in September 2026, up from $700M in August and about $200M at the end of 2025, reaching its year-end target three months early.</li><li>Higgsfield raised a $400M Series B in August 2026 at a $5.4B valuation, led by DST Global with participation from Goldman Sachs Alternatives, Tribe Capital, Intel Capital, and Liberty Global Tech Ventures, among others.</li><li>Growth is driven by higher-ARPU products including Ads 2.0, Soul UGC Builder, and UGC Factory for e-commerce creative teams, alongside presets that move customers into longer clips, higher resolutions, and multi-shot workflows.</li></ul>

Higgsfield hit $1B in annualized revenue in September 2026, up from $700M in August and about $200M at the end of 2025, reaching its year-end target three months early.Higgsfield raised a $400M Series B in August 2026 at a $5.4B valuation, led by DST Global with participation from Goldman Sachs Alternatives, Tribe Capital, Intel Capital, and Liberty Global Tech Ventures, among others.Growth is driven by higher-ARPU products including Ads 2.0, Soul UGC Builder, and UGC Factory for e-commerce creative teams, alongside presets that move customers into longer clips, higher resolutions, and multi-shot workflows.

<ul><li>Sacra estimates that HeyGen hit $205M in annual recurring revenue (ARR) in June 2026, up from $123M at the end of 2025.</li><li>HeyGen was valued at $500 million following its Series A funding round in 2023.</li><li>HeyGen's product strategy hinges on speed-to-value and ease of use—the platform launched "Instant Avatar" in November 2023, compressing avatar creation from days to 5 minutes.</li></ul>

Sacra estimates that HeyGen hit $205M in annual recurring revenue (ARR) in June 2026, up from $123M at the end of 2025.HeyGen was valued at $500 million following its Series A funding round in 2023.HeyGen's product strategy hinges on speed-to-value and ease of use—the platform launched "Instant Avatar" in November 2023, compressing avatar creation from days to 5 minutes.

<ul><li>Sacra estimates that Decagon hit $100M in annualized revenue in July 2026, up from $44M at the end of 2025.</li><li>Decagon was valued at $4.5 billion in January 2026, following a $250 million Series D funding round led by Coatue Management and Index Ventures.</li><li>The customer support automation market is projected to grow from $308 million in 2022 to $2.89 billion by 2032.</li></ul>

Sacra estimates that Decagon hit $100M in annualized revenue in July 2026, up from $44M at the end of 2025.Decagon was valued at $4.5 billion in January 2026, following a $250 million Series D funding round led by Coatue Management and Index Ventures.The customer support automation market is projected to grow from $308 million in 2022 to $2.89 billion by 2032.

<ul><li>Sacra estimates that Canva hit $4B in ARR at the end of 2025, up 43% from $2.8B at the end of 2024.</li><li>In August 2025, Canva launched an employee stock sale at a $42B valuation—up more than 30% from its $32B valuation in October 2024—with participation from Fidelity Management &amp; Research and JPMorgan Asset Management.</li><li>Canva Enterprise, one year after its launch, is now used by 95% of the Fortune 500.</li></ul>

Sacra estimates that Canva hit $4B in ARR at the end of 2025, up 43% from $2.8B at the end of 2024.In August 2025, Canva launched an employee stock sale at a $42B valuation—up more than 30% from its $32B valuation in October 2024—with participation from Fidelity Management &amp; Research and JPMorgan Asset Management.Canva Enterprise, one year after its launch, is now used by 95% of the Fortune 500.

United Kingdom

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

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ElevenLabs (ELEVENLABS GB)

Primer: ElevenLabs - 20 Aug 2026

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

Sacra

Primer: Higgsfield - 08 Oct 2026

AI-native video reasoning engine enabling creators and enterprises to produce cinematic-quality short-form video in minutes

Sacra

Primer: HeyGen - 03 Sep 2026

Video generation tool for creating AI avatar videos for training and sales outreach

Sacra

Primer: Decagon - 18 Aug 2026

AI agent software for automating complex customer support tasks and analyzing feedback

Sacra

Primer: Canva - 10 Jul 2026

Design software for creating presentations, videos, and marketing assets across teams and enterprises

Sacra

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