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>Checkout friction in external linking still favors Apple’s in-app flow even at the 30% fee, but the pain line starts at $5-10M in annual revenue for developers to consider routing payments externally to their existing payment processor for web payments like Stripe or Adyen.</li><li>For global enterprises opting out of Apple’s in-app payments, the solution isn’t just Stripe or a single payment processor; it means bringing together a number of regional payment providers like Stripe (US), Adyen (EU), PortOne (South Korea) & Airwallex (SEA) that use local bank rails and enforce local regulation like real-time e-invoicing mandates (EU, LatAm).</li><li>Unbundling their stack from vertically-integrated Stripe payments, billing and tax products, enterprise-level customers shift towards best-in-breed financial SaaS point solutions as they grow — for example in sales tax, adopting an independent tax layer in Taxwire, Anrok ($54M raised, Sequoia) & Avalara (acquired by Vista Equity Partners for $8.4B) that spans multiple payment processors and ledgers.</li></ul>

Checkout friction in external linking still favors Apple’s in-app flow even at the 30% fee, but the pain line starts at $5-10M in annual revenue for developers to consider routing payments externally to their existing payment processor for web payments like Stripe or Adyen.For global enterprises opting out of Apple’s in-app payments, the solution isn’t just Stripe or a single payment processor; it means bringing together a number of regional payment providers like Stripe (US), Adyen (EU), PortOne (South Korea) & Airwallex (SEA) that use local bank rails and enforce local regulation like real-time e-invoicing mandates (EU, LatAm).Unbundling their stack from vertically-integrated Stripe payments, billing and tax products, enterprise-level customers shift towards best-in-breed financial SaaS point solutions as they grow — for example in sales tax, adopting an independent tax layer in Taxwire, Anrok ($54M raised, Sequoia) & Avalara (acquired by Vista Equity Partners for $8.4B) that spans multiple payment processors and ledgers.

Andrew Rea, CEO Of Taxwire, On Why Enterprises Need More Than Stripe

<ul><li>On April 30th, a federal judge barred Apple from impeding external payment links in iOS apps and prohibited charging commissions on purchases made outside of Apple.</li><li>Five years later, Judge Yvonne Gonzalez Rogers has ruled that Apple must let developers use external payments without fees—effectively unbundling App Store billing from iOS distribution.</li><li>Stripe, with its iOS SDK and $1.4T in yearly payments volume, stands to benefit the most from $90B in App Store volume freed up by this ruling.</li></ul>

On April 30th, a federal judge barred Apple from impeding external payment links in iOS apps and prohibited charging commissions on purchases made outside of Apple.Five years later, Judge Yvonne Gonzalez Rogers has ruled that Apple must let developers use external payments without fees—effectively unbundling App Store billing from iOS distribution.Stripe, with its iOS SDK and $1.4T in yearly payments volume, stands to benefit the most from $90B in App Store volume freed up by this ruling.

<ul><li>Commure has accelerated to $105M in annual recurring revenue (ARR) as of March 2024, growing 150% YoY.</li><li>Compare to the dominant EHR in Epic at $4.9B in revenue in 2023, up 7% from $4.6B in 2022.</li><li>Through aggressive M&A like their July acquisition of AI scribe Augmedix, Commure’s product surface area and relationships with major healthcare systems like HCA Healthcare positions it as an upstart digital health platform.</li></ul>

Commure has accelerated to $105M in annual recurring revenue (ARR) as of March 2024, growing 150% YoY.Compare to the dominant EHR in Epic at $4.9B in revenue in 2023, up 7% from $4.6B in 2022.Through aggressive M&A like their July acquisition of AI scribe Augmedix, Commure’s product surface area and relationships with major healthcare systems like HCA Healthcare positions it as an upstart digital health platform.

<ul><li>Zus Health aims to help these builders.</li><li>That&#39;s the short-term and medium-term plans for Zus and what we offer.</li><li>We&#39;re not building the same thing as them, but certainly, they&#39;re selling to the same customer types.</li></ul>

Zus Health aims to help these builders.That&#39;s the short-term and medium-term plans for Zus and what we offer.We&#39;re not building the same thing as them, but certainly, they&#39;re selling to the same customer types.

Brendan Keeler, Senior PM At Zus Health, On Building Infrastructure For Digital Health

United States

Healthcare software suite for electronic health records, patient portals, and revenue management

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Epic (EPIC US)

Andrew Rea, CEO Of Taxwire, On Why Enterprises Need More Than Stripe

Apple doesn't only provide distribution (saving on sales & marketing expenses) and payments but it also handles fraud, chargebacks, subscriptions,...

Sacra

Stripe Vs Apple

TL;DR: On April 30th, a federal judge barred Apple from impeding external payment links in iOS apps and prohibited charging commissions on...

Sacra

Commure At $105M ARR

TL;DR: Sacra estimates that Commure has accelerated to $105M in annual recurring revenue (ARR) as of March 2024, growing 150% YoY, after their 2023...

Sacra

Brendan Keeler, Senior PM At Zus Health, On Building Infrastructure For Digital Health

Sacra interview with Brendan Keeler, senior product manager at Zus Health.

Sacra

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