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 Mural hit $125M in annual recurring revenue (ARR) in 2024, up 9% year-over-year from $115M at the end of 2023.</li><li>Mural competes here by leaning into guided collaboration rather than free-form creation.</li><li>The most important competitive force facing Mural is not another startup—it is Microsoft.</li></ul>

Sacra estimates that Mural hit $125M in annual recurring revenue (ARR) in 2024, up 9% year-over-year from $115M at the end of 2023.Mural competes here by leaning into guided collaboration rather than free-form creation.The most important competitive force facing Mural is not another startup—it is Microsoft.

<ul><li>Sacra estimates that Figma generated $1.056B in revenue for 2025, up 41% from $749M in 2024.</li><li>Figma priced its IPO on July 30, 2025 at $33.00 per share (36,937,080 Class A shares), implying a roughly $19.3B valuation.</li><li>Figma has significantly expanded its product surface beyond its core design tool.</li></ul>

Sacra estimates that Figma generated $1.056B in revenue for 2025, up 41% from $749M in 2024.Figma priced its IPO on July 30, 2025 at $33.00 per share (36,937,080 Class A shares), implying a roughly $19.3B valuation.Figma has significantly expanded its product surface beyond its core design tool.

<ul><li>Sacra estimates Miro hit $665M in annual recurring revenue (ARR) in 2024, growing about 5.6% year-over-year from $630M ARR at the end of 2024.</li><li>Miro achieved profitability early in its journey and has raised $476.3M in total funding, reaching a $17.5B valuation in 2023.</li><li>Miro has tailwinds from the massive shift to remote and hybrid work, plus growing demand for visual collaboration tools, and has the opportunity to expand into adjacent markets beyond its core whiteboarding functionality.</li></ul>

Sacra estimates Miro hit $665M in annual recurring revenue (ARR) in 2024, growing about 5.6% year-over-year from $630M ARR at the end of 2024.Miro achieved profitability early in its journey and has raised $476.3M in total funding, reaching a $17.5B valuation in 2023.Miro has tailwinds from the massive shift to remote and hybrid work, plus growing demand for visual collaboration tools, and has the opportunity to expand into adjacent markets beyond its core whiteboarding functionality.

<ul><li>Adobe announced today that it has agreed to buy Figma in a deal valued at $20B.</li><li>Figma is at about $340M ARR now, growing 100% YoY and projected to cross $400M ARR by end of year.</li><li>Even with instant distribution to 26M+ Creative Cloud customers, Adobe XD failed in its attempt to use bundlenomics to dislodge Figma’s dominant position among designers.</li></ul>

Adobe announced today that it has agreed to buy Figma in a deal valued at $20B.Figma is at about $340M ARR now, growing 100% YoY and projected to cross $400M ARR by end of year.Even with instant distribution to 26M+ Creative Cloud customers, Adobe XD failed in its attempt to use bundlenomics to dislodge Figma’s dominant position among designers.

<ul><li>Since launching in 2015, Figma has quickly become an indispensable tool for design teams, displacing Sketch, InVision and Adobe XD as the primary tool for UX and product design.</li><li>The switch and the creation of content took about a month to get to having everything in place.</li><li>The decision of what software to buy sat with the head of IT, because the adoption and implementation cycle was much longer.</li></ul>

Since launching in 2015, Figma has quickly become an indispensable tool for design teams, displacing Sketch, InVision and Adobe XD as the primary tool for UX and product design.The switch and the creation of content took about a month to get to having everything in place.The decision of what software to buy sat with the head of IT, because the adoption and implementation cycle was much longer.

Head Of Brand Design At A Series E Startup On Figma's wall-to-wall Adoption

United States

Visual collaboration tool for remote teams to brainstorm, plan, and facilitate workshops

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Mural (MURAL US)

Primer: Mural - 15 Dec 2025

Visual collaboration tool for remote teams to brainstorm, plan, and facilitate workshops

Sacra

Primer: Figma - 27 Apr 2026

Design tool for real-time collaboration on UI, prototypes, and design systems in-browser

Sacra

Primer: Miro - 07 Dec 2024

Online whiteboard tool for collaborative brainstorming, planning, and project execution across teams

Sacra

How Figma Defied Adobe's Bundlenomics

Figma's $20B sale to Adobe reflects both that it beat back Adobe's attempt to break it with bundle economics, and that it faced the daunting task...

Sacra

Head Of Brand Design At A Series E Startup On Figma's wall-to-wall Adoption

We interview the Head of Brand Design at a fast-growing Series E startup about how his team uses Figma and Figjam.

Sacra

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