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>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>Sacra estimates that Canva hit $2.3B of annual recurring revenue (ARR) in May 2024, up from $1.7B at the end of 2023 and up 50% year-over-year, as they relaunch Enterprise to go bundle-for-bundle against Adobe and Google.</li><li>In the last 18 months, Canva has grown its monthly active users (MAUs) 60% from 115M to 185M and doubled ARR while aggressively colonizing photo editing (Photoshop), generative image generation.</li><li>With the 2024 relaunch of their Enterprise plan, Canva is now building on their long-standing bottom-up adoption (95% of Fortune 500 companies have some usage of Canva) and going bundle-for-bundle against Adobe and Google directly.</li></ul>

Sacra estimates that Canva hit $2.3B of annual recurring revenue (ARR) in May 2024, up from $1.7B at the end of 2023 and up 50% year-over-year, as they relaunch Enterprise to go bundle-for-bundle against Adobe and Google.In the last 18 months, Canva has grown its monthly active users (MAUs) 60% from 115M to 185M and doubled ARR while aggressively colonizing photo editing (Photoshop), generative image generation.With the 2024 relaunch of their Enterprise plan, Canva is now building on their long-standing bottom-up adoption (95% of Fortune 500 companies have some usage of Canva) and going bundle-for-bundle against Adobe and Google directly.

<ul><li>Photoroom hit $65M in annual recurring revenue (ARR), up 195% year-over-year, and built the biggest mobile-first generative AI app in the world by giving eBay merchants a one-tap way to upload better listing photos.</li><li>Photoroom found product-market fit as an AI-powered image editor for eBay, Depop, and Poshmark merchants to remove the backgrounds from their photos and create professional-looking listings—by August, they were at 300K monthly active users (MAUs) and $1M ARR, growing 50% month-over-month.</li><li>With the launch of their API, Photoroom is moving upmarket from their SMB-like prosumers, selling programmatic image editing into content brands like Warner Brothers, Lionsgate and Netflix as well as marketplaces like Wolt, Faire, Zomato and Shopify that host large amounts of user-created content.</li></ul>

Photoroom hit $65M in annual recurring revenue (ARR), up 195% year-over-year, and built the biggest mobile-first generative AI app in the world by giving eBay merchants a one-tap way to upload better listing photos.Photoroom found product-market fit as an AI-powered image editor for eBay, Depop, and Poshmark merchants to remove the backgrounds from their photos and create professional-looking listings—by August, they were at 300K monthly active users (MAUs) and $1M ARR, growing 50% month-over-month.With the launch of their API, Photoroom is moving upmarket from their SMB-like prosumers, selling programmatic image editing into content brands like Warner Brothers, Lionsgate and Netflix as well as marketplaces like Wolt, Faire, Zomato and Shopify that host large amounts of user-created content.

Photoroom: The $65M/year Background Removal App

<ul><li>Yeah, sure. My name is Courtney, I&#39;ve been at Figma now for two and a half years, and the group that I sit on within the broader marketing team is growth marketing, and then one step below that is the marketing operations team.</li><li>Before we started using Parcel—and when I joined the team—it was just myself and my manager who were working on emails.</li><li>That&#39;s the biggest one and that&#39;s also related to the feedback functionality—I don&#39;t necessarily want to create a new version every time I&#39;m asking for feedback.</li></ul>

Yeah, sure. My name is Courtney, I&#39;ve been at Figma now for two and a half years, and the group that I sit on within the broader marketing team is growth marketing, and then one step below that is the marketing operations team.Before we started using Parcel—and when I joined the team—it was just myself and my manager who were working on emails.That&#39;s the biggest one and that&#39;s also related to the feedback functionality—I don&#39;t necessarily want to create a new version every time I&#39;m asking for feedback.

Courtney Scharff, Manager Of Marketing Ops At Figma, On Figma's Marketing Operations Stack

United States

Figma, Inc. provides software solutions. The Company offers a browser-based platform for developers, product managers, and marketers which helps them with user interface designing, prototyping, and collaboration. Figma serves customers in the United States.

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Figma (FIG US)

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

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

Canva At $2.3B/yr

TL;DR: Sacra estimates that Canva hit $2.3B of annual recurring revenue (ARR) in May 2024, up from $1.7B at the end of 2023 and up 50% year-over...

Sacra

Photoroom: The $65M/year Background Removal App

TL;DR: Photoroom hit $65M in annual recurring revenue (ARR), up 195% year-over-year, and built the biggest mobile-first generative AI app in the...

Sacra

Courtney Scharff, Manager Of Marketing Ops At Figma, On Figma's Marketing Operations Stack

It'd be good to start with just a little context on you and your role at Figma...

Sacra

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