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>FP&A incumbent Anaplan (founded in 2006) dramatically sped up the process of creating accurate forecasts by building a self-serve UI into key data sources—core financials, CRM, ERP—so that analysts could use live, actual data to build & edit models in Excel and memorialize them in the cloud.</li><li>Live browser-based editing & collaboration in FP&A à la Figma offers the potential for cross-side network effects and seat expansion that colonizes the entire org—versus Anaplan’s building & cross-selling department-specific FP&A solutions into sales & marketing, HR, supply chain and more.</li><li>The second way people get pulled in doesn’t start with finance at all. Maybe you just want to create a good sales forecast or a good product model directly, and you want to get there sooner because you want to start with real data.</li></ul>

FP&A incumbent Anaplan (founded in 2006) dramatically sped up the process of creating accurate forecasts by building a self-serve UI into key data sources—core financials, CRM, ERP—so that analysts could use live, actual data to build & edit models in Excel and memorialize them in the cloud.Live browser-based editing & collaboration in FP&A à la Figma offers the potential for cross-side network effects and seat expansion that colonizes the entire org—versus Anaplan’s building & cross-selling department-specific FP&A solutions into sales & marketing, HR, supply chain and more.The second way people get pulled in doesn’t start with finance at all. Maybe you just want to create a good sales forecast or a good product model directly, and you want to get there sooner because you want to start with real data.

Siqi Chen, CEO Of Runway, On Building browser-based Collaborative FP&A

<ul><li>Calendly hit $270M in annual recurring revenue (ARR) at the end of 2023, up 46% year-over-year, as they push into the enterprise and fend off challenges from the bundles of Microsoft and Google.</li><li>Calendly has continued to grow close to 50% year-over-year at $100M+ revenue scale, hitting $270M ARR at the end of 2023, by integrating into hardcore B2B workflows that write to the calendar like sales (CRM), recruiting (ATS), and marketing (MAP).</li><li>At the same time, Calendly has moved upmarket to the enterprise, capitalizing on its strong bottom-up adoption in large organizations—with users in 86% of Fortune 500 companies—and leveraging its cross-functionality across different productivity suites and systems of record.</li></ul>

Calendly hit $270M in annual recurring revenue (ARR) at the end of 2023, up 46% year-over-year, as they push into the enterprise and fend off challenges from the bundles of Microsoft and Google.Calendly has continued to grow close to 50% year-over-year at $100M+ revenue scale, hitting $270M ARR at the end of 2023, by integrating into hardcore B2B workflows that write to the calendar like sales (CRM), recruiting (ATS), and marketing (MAP).At the same time, Calendly has moved upmarket to the enterprise, capitalizing on its strong bottom-up adoption in large organizations—with users in 86% of Fortune 500 companies—and leveraging its cross-functionality across different productivity suites and systems of record.

<ul><li>Business intelligence (BI) tools like Looker (NASDAQ: GOOG) and Tableau (NYSE: CRM) are where financial analysts create dashboards, formalize their reasoning, and establish a source of truth—but for deeper analysis, analysts revert to Excel.</li><li>Both finance analysts and financial analysis are becoming horizontal across the org, integrating data—not just from QuickBooks and Stripe—but through Salesforce, HubSpot, Amplitude, your production database, and more.</li><li>Modern FP&A tools Equals (Andreessen Horowitz, $22.6M raised), Sigma Computing (Sutter Hill, $652M raised), Runway (Initialized Capital, $33.5M raised) and Causal (Coatue, $26M raised) vertically integrate integrations & the data layer (where you connect live data), spreadsheets (where you analyze the data) and dashboards (where you display the data) into a collaborative finance platform.</li></ul>

Business intelligence (BI) tools like Looker (NASDAQ: GOOG) and Tableau (NYSE: CRM) are where financial analysts create dashboards, formalize their reasoning, and establish a source of truth—but for deeper analysis, analysts revert to Excel.Both finance analysts and financial analysis are becoming horizontal across the org, integrating data—not just from QuickBooks and Stripe—but through Salesforce, HubSpot, Amplitude, your production database, and more.Modern FP&A tools Equals (Andreessen Horowitz, $22.6M raised), Sigma Computing (Sutter Hill, $652M raised), Runway (Initialized Capital, $33.5M raised) and Causal (Coatue, $26M raised) vertically integrate integrations & the data layer (where you connect live data), spreadsheets (where you analyze the data) and dashboards (where you display the data) into a collaborative finance platform.

Bobby Pinero, CEO Of Equals, On Bringing Joy To Finance Teams

<ul><li>In terms of milestones, we just crossed 350 customers, and that's something we're happy about.</li><li>We saw an opportunity where things were challenging in the mid-market, it didn't look like it was going to get any easier with all the competition, but we were seeing surprisingly strong pull downmarket from these SMBs who wanted to use the product.</li><li>Basically every company needs to report on their numbers—the crucial thing is that at any point in the year, any company will need to be reporting on their numbers—whether it's the ARR reporting, whether it's their burn and runway or that kind of stuff.</li></ul>

In terms of milestones, we just crossed 350 customers, and that's something we're happy about.We saw an opportunity where things were challenging in the mid-market, it didn't look like it was going to get any easier with all the competition, but we were seeing surprisingly strong pull downmarket from these SMBs who wanted to use the product.Basically every company needs to report on their numbers—the crucial thing is that at any point in the year, any company will need to be reporting on their numbers—whether it's the ARR reporting, whether it's their burn and runway or that kind of stuff.

Taimur Abdaal, CEO And co-founder Of Causal, On The Future Of The "Better Spreadsheet"

<ul><li>At the beginning of last year, we really started going-to-market and actually just focusing on the FP&amp;A use case.</li><li>The value of the rest of the product is very real, but harder to quantify.</li><li>We do scale up and down from that sweet spot, but it’s the 100-500 person, series-C-ish companies who we try and target, specifically.</li></ul>

At the beginning of last year, we really started going-to-market and actually just focusing on the FP&amp;A use case.The value of the rest of the product is very real, but harder to quantify.We do scale up and down from that sweet spot, but it’s the 100-500 person, series-C-ish companies who we try and target, specifically.

Taimur Abdaal, CEO Of Causal, On The Primitives Of Financial Modelling

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Spreadsheet software for finance and ops teams to analyze live data and build dashboards

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Siqi Chen, CEO Of Runway, On Building browser-based Collaborative FP&A

You were previously running Sandbox VR and before that you were VP of Growth at Postmates. What got you interested in FP&A and in starting Runway...

Sacra

Calendly At $270M ARR

TL;DR: Sacra estimates that Calendly hit $270M in annual recurring revenue (ARR) at the end of 2023, up 46% year-over-year, as they push into the...

Sacra

Bobby Pinero, CEO Of Equals, On Bringing Joy To Finance Teams

So before you founded Equals, you spent 8 years as a finance leader at Intercom. Tell us about that experience and then what you learned that...

Sacra

Taimur Abdaal, CEO And co-founder Of Causal, On The Future Of The "Better Spreadsheet"

Where does Causal have the strongest product-market fit today and what milestones have you hit that you want to share...

Sacra

Taimur Abdaal, CEO Of Causal, On The Primitives Of Financial Modelling

Sacra interview with Taimur Abdaal, CEO and co-founder of Causal.

Sacra

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