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>Forter made roughly $200M in 2021, a 100% increase over 2020.</li><li>Forter has raised $525 million from investors such as Bessemer Venture Partners and Sequoia Capital.</li><li>Forter processed $250B GMV in 2021 and has processed over $2T GMV to date across a network of 500,000+ online businesses and 2B+ consumers.</li></ul>

Forter made roughly $200M in 2021, a 100% increase over 2020.Forter has raised $525 million from investors such as Bessemer Venture Partners and Sequoia Capital.Forter processed $250B GMV in 2021 and has processed over $2T GMV to date across a network of 500,000+ online businesses and 2B+ consumers.

<ul><li>Sacra estimates that ShopMy generated $80M in revenue in 2025, up 196% from $27M in 2024.</li><li>ShopMy raised $77.5M in a Series B round in January 2025 led by Bessemer Venture Partners and Bain Capital Ventures.</li><li>ShopMy&#39;s newest product, Circles, transforms the platform from a B2B2C tool into a three-sided marketplace by adding a consumer-facing shopping app.</li></ul>

Sacra estimates that ShopMy generated $80M in revenue in 2025, up 196% from $27M in 2024.ShopMy raised $77.5M in a Series B round in January 2025 led by Bessemer Venture Partners and Bain Capital Ventures.ShopMy&#39;s newest product, Circles, transforms the platform from a B2B2C tool into a three-sided marketplace by adding a consumer-facing shopping app.

<ul><li>Kajabi reached a $2B valuation in 2021 when the company hit $100M ARR, corresponding to a 20x revenue multiple during the peak of creator economy enthusiasm.</li><li>The platform enables creators to build branded websites, create and sell digital courses, host membership communities, deliver coaching services, launch podcasts, send newsletters, and process payments—all from a single dashboard.</li><li>Since its founding in 2010, Kajabi has paid out $10B to creators, with total payouts rising 25% year-over-year as of August 2025.</li></ul>

Kajabi reached a $2B valuation in 2021 when the company hit $100M ARR, corresponding to a 20x revenue multiple during the peak of creator economy enthusiasm.The platform enables creators to build branded websites, create and sell digital courses, host membership communities, deliver coaching services, launch podcasts, send newsletters, and process payments—all from a single dashboard.Since its founding in 2010, Kajabi has paid out $10B to creators, with total payouts rising 25% year-over-year as of August 2025.

<ul><li>Sacra estimates that Stan ended 2024 at $28.3M in ARR, up 92% year-over-year.</li><li>We first covered Stan at $14.7M ARR in February 2024, growing 765% YoY.</li><li>We followed up at $27M ARR in May 2024, growing ~20% month-over-month.</li></ul>

Sacra estimates that Stan ended 2024 at $28.3M in ARR, up 92% year-over-year.We first covered Stan at $14.7M ARR in February 2024, growing 765% YoY.We followed up at $27M ARR in May 2024, growing ~20% month-over-month.

<ul><li>Sacra estimates that Gumroad hit $21M in revenue in 2023, up 96% from $11M in 2022.</li><li>Gumroad&#39;s pricing change from a 3.5-8.5% variable take rate to a flat 10% take rate on GMV in early 2023 near doubled monthly revenue from $1M to $1.8M and flipped them from burning cash (-$1M net in 2022) to generating $9M in net profit for 2023.</li><li>Once creators are making more than $4K per year, the transaction fees a creator is paying to Gumroad are equivalent/beyond what they’d pay for a more fully-featured SaaS platform for creators like Stan.</li></ul>

Sacra estimates that Gumroad hit $21M in revenue in 2023, up 96% from $11M in 2022.Gumroad&#39;s pricing change from a 3.5-8.5% variable take rate to a flat 10% take rate on GMV in early 2023 near doubled monthly revenue from $1M to $1.8M and flipped them from burning cash (-$1M net in 2022) to generating $9M in net profit for 2023.Once creators are making more than $4K per year, the transaction fees a creator is paying to Gumroad are equivalent/beyond what they’d pay for a more fully-featured SaaS platform for creators like Stan.

United States

Checkout tool for creators to sell digital products, memberships, and courses online

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Gumroad (GUMROAD US)

Primer: Forter - 27 Feb 2026

Fraud prevention software for e-commerce businesses with real-time transaction approval decisions

Sacra

Primer: ShopMy - 20 Feb 2026

Platform enabling creators to curate digital shops for product recommendations and monetize them through affiliate links

Sacra

Primer: Kajabi - 11 Jan 2026

Software for creators to build, market, and sell online courses and digital products

Sacra

Stan Vs Whop

TL;DR: The fastest-growing creator economy platforms in 2025, like Stan and Whop, are those enabling creators to sell shadow market digital SKUs...

Sacra

Primer: Gumroad - 07 Dec 2024

Checkout tool for creators to sell digital products, memberships, and courses online

Sacra

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