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>Sacra estimates that Scale generated $2B in revenue in 2025, up from $870M in 2024, when it hit a $1.5B annualized run rate by end of year.</li><li>Meta's June 2025 investment values Scale at $29 billion, with Meta paying $14.3B for a 49% non-voting stake.</li><li>Meta's $14.3B investment for 49% ownership in June 2025 triggered customer flight from Scale's largest clients.</li></ul>

Sacra estimates that Scale generated $2B in revenue in 2025, up from $870M in 2024, when it hit a $1.5B annualized run rate by end of year.Meta's June 2025 investment values Scale at $29 billion, with Meta paying $14.3B for a 49% non-voting stake.Meta's $14.3B investment for 49% ownership in June 2025 triggered customer flight from Scale's largest clients.

<ul><li>Sacra estimates that Prolific hit $350M in annualized revenue in April 2026, as the company’s academic research marketplace shifted into AI evaluation, RLHF, red-teaming, and specialist data collection.</li><li>Prolific raised a £25 million Series A in July 2023, co-led by Partech and Oxford Science Enterprises.</li><li>Prolific delivered 380,000 studies and tasks and 8M+ hours of human input in 2025, supported by 200,000+ active participants, 11,000+ AI annotation specialists, 5,000+ active AI taskers, and a 2M+ participant waitlist.</li></ul>

Sacra estimates that Prolific hit $350M in annualized revenue in April 2026, as the company’s academic research marketplace shifted into AI evaluation, RLHF, red-teaming, and specialist data collection.Prolific raised a £25 million Series A in July 2023, co-led by Partech and Oxford Science Enterprises.Prolific delivered 380,000 studies and tasks and 8M+ hours of human input in 2025, supported by 200,000+ active participants, 11,000+ AI annotation specialists, 5,000+ active AI taskers, and a 2M+ participant waitlist.

<ul><li>Sacra estimates that Surge AI hit $1.2B in annualized revenue in 2024, with growth mainly driven by a group of ~12 frontier AI labs, most notably OpenAI, Google, Anthropic, Microsoft, and Meta, as demand has grown for expert data labeling for training next-generation LLMs.</li><li>In July 2025, Surge initiated its first-ever capital raise after operating profitably since its 2021 launch as a bootstrapped company.</li><li>Surge's reliance on 12 customers for over $1 billion in revenue creates exposure to contract losses and pricing pressure.</li></ul>

Sacra estimates that Surge AI hit $1.2B in annualized revenue in 2024, with growth mainly driven by a group of ~12 frontier AI labs, most notably OpenAI, Google, Anthropic, Microsoft, and Meta, as demand has grown for expert data labeling for training next-generation LLMs.In July 2025, Surge initiated its first-ever capital raise after operating profitably since its 2021 launch as a bootstrapped company.Surge's reliance on 12 customers for over $1 billion in revenue creates exposure to contract losses and pricing pressure.

<ul><li>Sacra estimates that Invisible generated $134M in revenue in 2024, up 123% from $60M in 2023.</li><li>Invisible&#39;s recent growth has been propelled by significant contracts for reinforcement learning with human feedback (RLHF) services.</li><li>Invisible operates as a B2B tech-enabled service company bridging the gap between pure software automation and traditional outsourcing.</li></ul>

Sacra estimates that Invisible generated $134M in revenue in 2024, up 123% from $60M in 2023.Invisible&#39;s recent growth has been propelled by significant contracts for reinforcement learning with human feedback (RLHF) services.Invisible operates as a B2B tech-enabled service company bridging the gap between pure software automation and traditional outsourcing.

<ul><li>Datacurve closed a $15 million Series A in October 2025 led by Chemistry, with participation from Y Combinator, Balaji Srinivasan, and employees from DeepMind, Vercel, Anthropic, and OpenAI.</li><li>The enterprise AI coding assistant market is projected to grow from $2.1 billion in 2024 to $19 billion by 2033, driven by Fortune 500 internal copilot deployments.</li><li>If major customers decide to handle data collection internally or reduce training data budgets, Datacurve's revenue could face significant impact.</li></ul>

Datacurve closed a $15 million Series A in October 2025 led by Chemistry, with participation from Y Combinator, Balaji Srinivasan, and employees from DeepMind, Vercel, Anthropic, and OpenAI.The enterprise AI coding assistant market is projected to grow from $2.1 billion in 2024 to $19 billion by 2033, driven by Fortune 500 internal copilot deployments.If major customers decide to handle data collection internally or reduce training data budgets, Datacurve's revenue could face significant impact.

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Career platform connecting college students and recent grads with employers and career centers

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Handshake (HANDSHAKE US)

Primer: Scale AI - 10 Jul 2026

Tooling suite for data labeling, model training, and deployment for enterprise ML teams

Sacra

Primer: Prolific - 19 May 2026

Platform connecting researchers and AI developers with vetted participants for high-quality data collection

Sacra

Primer: Surge AI - 22 Apr 2026

Data-labeling platform for AI developers to train models with high-quality annotated datasets

Sacra

Primer: Invisible - 22 Apr 2026

Outsourcing and automation service combining AI and human intelligence to execute digital tasks

Sacra

Primer: Datacurve - 10 Oct 2025

Platform providing high-quality coding data for training and evaluating large language models

Sacra

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