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>Pure product-led growth is giving way to a hybrid of self-serve plus inbound sales, requiring go-to-market teams to create forms (Typeform), enrich new leads (Clearbit), qualify them (HubSpot), route & schedule meetings (Calendly), and start email sequences (Outreach), with Zapier to stitch it all together.</li><li>As budget for all these tools for automation has begun to exceed the cost of CRM itself, companies like Default (Craft Ventures, $11.3M raised), Calendly ($270M ARR), and Clay (Sequoia, $62M raised) have begun bundling scheduling with lead capture, enrichment, qualification, and routing into a unified revenue ops dashboard.</li><li>I might be wrong, but I think in the next 3 to 4 years, we're going to see a lot of the same solutions, either through hardcore R&D like ZoomInfo is doing or aggressive M&A like Clari's approach.</li></ul>

Pure product-led growth is giving way to a hybrid of self-serve plus inbound sales, requiring go-to-market teams to create forms (Typeform), enrich new leads (Clearbit), qualify them (HubSpot), route & schedule meetings (Calendly), and start email sequences (Outreach), with Zapier to stitch it all together.As budget for all these tools for automation has begun to exceed the cost of CRM itself, companies like Default (Craft Ventures, $11.3M raised), Calendly ($270M ARR), and Clay (Sequoia, $62M raised) have begun bundling scheduling with lead capture, enrichment, qualification, and routing into a unified revenue ops dashboard.I might be wrong, but I think in the next 3 to 4 years, we're going to see a lot of the same solutions, either through hardcore R&D like ZoomInfo is doing or aggressive M&A like Clari's approach.

Nico Ferreyra, CEO Of Default, On Building An end-to-end Inbound Sales Platform

<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>The rise of the API economy drove an unbundling wave across all-in-one solutions like RJMetrics (founded by Bob in 2008), fostering a cooperative ecosystem.</li><li>Partnership management products like Crossbeam ($117M raised), PartnerStack ($36M raised), and Impartner ($145M raised) give partnership teams software to make it easy to identify overlaps in customers.</li><li>Partnership products amass a trove of “second-party” data—the rich, proprietary data shared between partners—which has the potential to power an alternative ad network for B2B.</li></ul>

The rise of the API economy drove an unbundling wave across all-in-one solutions like RJMetrics (founded by Bob in 2008), fostering a cooperative ecosystem.Partnership management products like Crossbeam ($117M raised), PartnerStack ($36M raised), and Impartner ($145M raised) give partnership teams software to make it easy to identify overlaps in customers.Partnership products amass a trove of “second-party” data—the rich, proprietary data shared between partners—which has the potential to power an alternative ad network for B2B.

Bob Moore, CEO And co-founder Of Crossbeam, On ecosystem-led Growth

<ul><li>Outreach grew to $250M ARR by enabling any sales development representative (SDR) to send outbound emails with demographic data like a prospect's name, company, and role pre-filled.</li><li>With the decline in the efficacy of cold outbound, companies are turning to "warm outbound", where personalized outreach is triggered based on specific behavior data that a prospect is engaged in either on your own website (e.g., via Clearbit) or elsewhere on the web (e.g., on G2).</li><li>AI-native tools like Unify ($17.9M raised), Default ($11.3M raised), and Attention ($3.1M raised) stitch together multi-tool workflows to automate the sending of highly personalized messages, at scale, eliminating the need for $60K/year SDRs.</li></ul>

Outreach grew to $250M ARR by enabling any sales development representative (SDR) to send outbound emails with demographic data like a prospect's name, company, and role pre-filled.With the decline in the efficacy of cold outbound, companies are turning to "warm outbound", where personalized outreach is triggered based on specific behavior data that a prospect is engaged in either on your own website (e.g., via Clearbit) or elsewhere on the web (e.g., on G2).AI-native tools like Unify ($17.9M raised), Default ($11.3M raised), and Attention ($3.1M raised) stitch together multi-tool workflows to automate the sending of highly personalized messages, at scale, eliminating the need for $60K/year SDRs.

Austin Hughes, CEO And co-founder Of Unify, On The Death Of The SDR

<ul><li>On Wednesday, HubSpot (NYSE: HUBS) announced that it was acquiring data enrichment platform Clearbit and its data on 20 million companies and 500 million people.</li><li>Clearbit launched in 2014 as an API for business data and found product-market fit as a way for technical marketers to easily bring data into their sales &amp; marketing automation tools to personalize their go-to-market campaigns.</li><li>Bundling is occurring across revenue operations (revops) tools, bringing tools like HubSpot (CRM), Zoominfo (go-to-market), 6sense (account-based marketing) and Gong (revenue intelligence) into fierce competition.</li></ul>

On Wednesday, HubSpot (NYSE: HUBS) announced that it was acquiring data enrichment platform Clearbit and its data on 20 million companies and 500 million people.Clearbit launched in 2014 as an API for business data and found product-market fit as a way for technical marketers to easily bring data into their sales &amp; marketing automation tools to personalize their go-to-market campaigns.Bundling is occurring across revenue operations (revops) tools, bringing tools like HubSpot (CRM), Zoominfo (go-to-market), 6sense (account-based marketing) and Gong (revenue intelligence) into fierce competition.

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Software for recording, analyzing, and storing sales calls to support revenue teams

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Gong (GONG US)

Nico Ferreyra, CEO Of Default, On Building An end-to-end Inbound Sales Platform

What is Default and what inspired you to start the company...

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

Bob Moore, CEO And co-founder Of Crossbeam, On ecosystem-led Growth

You previously co-founded RJMetrics, a seminal analytics company, and Stitch, which was a precursor to many of the ETL/ELT-type companies in the...

Sacra

Austin Hughes, CEO And co-founder Of Unify, On The Death Of The SDR

What is Unify in short and what inspired you to start the company...

Sacra

Why HubSpot Acquired Clearbit

On Wednesday, HubSpot (NYSE: HUBS) announced that it was acquiring data enrichment platform Clearbit and its data on 20 million companies and 500...

Sacra

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