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>The reality is that Intercom has had an ML team for six years and we have some really outstanding leaders in our R&amp;D organization, and what we’re doing in AI started from the bottom-up.</li><li>We have spent a lot of time and attention trying to tease apart the strategic implications of AI for customer service, which led us to believe that not only was betting on it like this a giant opportunity, but not betting on it was a serious risk.</li><li>The standards for customer service online—and all businesses are going online, so let&#39;s just say the standard for customer service—is terrible.</li></ul>

The reality is that Intercom has had an ML team for six years and we have some really outstanding leaders in our R&amp;D organization, and what we’re doing in AI started from the bottom-up.We have spent a lot of time and attention trying to tease apart the strategic implications of AI for customer service, which led us to believe that not only was betting on it like this a giant opportunity, but not betting on it was a serious risk.The standards for customer service online—and all businesses are going online, so let&#39;s just say the standard for customer service—is terrible.

Eoghan McCabe & Des Traynor, CEO And CSO Of Intercom, On The AI Transformation Of Customer Service

<ul><li>We talked to Colin to better understand the trade-offs and upsides of the platform vs. all-in-one approaches to building marketing automation tools, Customer.io&#39;s newly launched customer data platform (CDP), and Customer.io&#39;s new positioning amid a market of many customer data products, including Segment, mParticle, Rudderstack, Klaviyo, Intercom, Amplitude, and more.</li><li>One of the things that we wanted to make sure with our first new product—when you go from single product to platform—is that we weren&#39;t trying to sell to a completely new buyer.</li><li>In five years’ time, if we&#39;re successful, potentially we&#39;re firmly in people&#39;s minds as the platform for PLG companies to use to manage all of their customer interactions.</li></ul>

We talked to Colin to better understand the trade-offs and upsides of the platform vs. all-in-one approaches to building marketing automation tools, Customer.io&#39;s newly launched customer data platform (CDP), and Customer.io&#39;s new positioning amid a market of many customer data products, including Segment, mParticle, Rudderstack, Klaviyo, Intercom, Amplitude, and more.One of the things that we wanted to make sure with our first new product—when you go from single product to platform—is that we weren&#39;t trying to sell to a completely new buyer.In five years’ time, if we&#39;re successful, potentially we&#39;re firmly in people&#39;s minds as the platform for PLG companies to use to manage all of their customer interactions.

Colin Nederkoorn, Founder & CEO At Customer.Io, On The CDP Layer In Messaging

<ul>
<li>IPO is on the horizon for Klaviyo—a company that rode the wave of Shopify’s growth to $665M in annually recurring revenue as the preferred 3rd-party email provider in their app store.</li>
<li>Sacra estimates that Klaivyo hit $580M in annual recurring revenue (ARR) at the end of 2022, up 55% from $375M at the end of 2021, last valued at $9.5B for a 16x multiple on forward revenue with about 100,000 corporate customers.</li>
<li>Klaviyo’s strategy is to win by going multi-product with a vertically-integrated platform that brings together their Klaviyo One CDP for the enterprise, texting (currently 10% of revenue), in-app chat, and email so that their customers have an all-in-one marketing solution and data integrations with virtually every other SaaS tool they need.</li>
</ul>


IPO is on the horizon for Klaviyo—a company that rode the wave of Shopify’s growth to $665M in annually recurring revenue as the preferred 3rd-party email provider in their app store.
Sacra estimates that Klaivyo hit $580M in annual recurring revenue (ARR) at the end of 2022, up 55% from $375M at the end of 2021, last valued at $9.5B for a 16x multiple on forward revenue with about 100,000 corporate customers.
Klaviyo’s strategy is to win by going multi-product with a vertically-integrated platform that brings together their Klaviyo One CDP for the enterprise, texting (currently 10% of revenue), in-app chat, and email so that their customers have an all-in-one marketing solution and data integrations with virtually every other SaaS tool they need.


Klaviyo: The $665M/year HubSpot For Ecommerce

<ul><li>Sacra estimates that Drift hit $135M in annual recurring revenue (ARR) at the end of 2022, up 35% from $100M at the end of 2021.</li><li>Drift’s packages now start at $2,500 per month (they removed their previously entry-level $40 per month package in 2022); users are billed annually.</li><li>In 2022, Drift setup operations in Guadalajara, Mexico, its sixth global location, to cover the Latin America market.</li></ul>

Sacra estimates that Drift hit $135M in annual recurring revenue (ARR) at the end of 2022, up 35% from $100M at the end of 2021.Drift’s packages now start at $2,500 per month (they removed their previously entry-level $40 per month package in 2022); users are billed annually.In 2022, Drift setup operations in Guadalajara, Mexico, its sixth global location, to cover the Latin America market.

<ul><li>Retool found product-market fit saving developer time building admin panels, dashboards, and other simple internal CRUD tools (create-read-update-delete) in ~1 day instead of ~2 weeks by giving them pre-built components to wire up on top of their production database.</li><li>Retool is per-seat subscription SaaS—they went from $10M ARR in 2020 to $30M ARR in 2021, and as of 2022, they’re at $82M ARR, growing 173% year-over-year.</li><li>Retool’s strength in the enterprise comes from its engineering-centric paradigm that unlike no-code tools, allows teams to build secure tooling for ETL tasks ala Census ($80M raised), devops ala Sentry ($3B valuation) and metrics reporting ala Looker (acq. for $2.6B) with access management, data integrity and other safety guarantees around their mission-critical production data and business logic—without having to buy more enterprise SaaS.</li></ul>

Retool found product-market fit saving developer time building admin panels, dashboards, and other simple internal CRUD tools (create-read-update-delete) in ~1 day instead of ~2 weeks by giving them pre-built components to wire up on top of their production database.Retool is per-seat subscription SaaS—they went from $10M ARR in 2020 to $30M ARR in 2021, and as of 2022, they’re at $82M ARR, growing 173% year-over-year.Retool’s strength in the enterprise comes from its engineering-centric paradigm that unlike no-code tools, allows teams to build secure tooling for ETL tasks ala Census ($80M raised), devops ala Sentry ($3B valuation) and metrics reporting ala Looker (acq. for $2.6B) with access management, data integrity and other safety guarantees around their mission-critical production data and business logic—without having to buy more enterprise SaaS.

Retool: The $82M ARR Internal App Builder

United States

Customer service software with AI chatbot, help desk, and agent assist tools

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Intercom (INTERCOM US)

Eoghan McCabe & Des Traynor, CEO And CSO Of Intercom, On The AI Transformation Of Customer Service

Sacra interview with Eoghan McCabe & Des Traynor, CEO and CSO of Intercom.

Sacra

Colin Nederkoorn, Founder & CEO At Customer.Io, On The CDP Layer In Messaging

Sacra interview with Colin Nederkoorn, founder & CEO at Customer.io.

Sacra

Klaviyo: The $665M/year HubSpot For Ecommerce

TL;DR: IPO is on the horizon for Klaviyo—a company that rode the wave of Shopify’s growth to $665M in annually recurring revenue as the preferred...

Sacra

Primer: Drift - 18 Apr 2023

Chatbot and live chat tool for sales and marketing teams to engage website visitors

Sacra

Retool: The $82M ARR Internal App Builder

Retool went from bottom-up PLG to enterprise elephant-hunting en route to $82M ARR. Now they’re building out a parallel, low-code version of the...

Sacra

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