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>Notion is rolling back its direct challenge Microsoft Office and Google Workspace, retreating from building a productivity bundle of standalone apps</li><li>Sacra estimates Notion hit $865M annual recurring revenue (ARR) in July 2026, up 82% year-over-year</li><li>Rather than rebuild the productivity suite, Notion is vying to win by owning the agent that operates across your SaaS productivity tools</li></ul>

Notion is rolling back its direct challenge Microsoft Office and Google Workspace, retreating from building a productivity bundle of standalone appsSacra estimates Notion hit $865M annual recurring revenue (ARR) in July 2026, up 82% year-over-yearRather than rebuild the productivity suite, Notion is vying to win by owning the agent that operates across your SaaS productivity tools

<ul><li>Sacra estimates that Notion hit $865M in ARR in July 2026, up from $610M at the end of 2025 (+53% YoY).</li><li>Notion is valued at $11 billion following a $270 million employee tender offer that closed January 26, 2026, with GIC joining existing investors Sequoia Capital and Index Ventures as participants.</li><li>Notion operates a freemium SaaS model designed to encourage viral adoption by individual users and convert teams to paid plans as usage scales.</li></ul>

Sacra estimates that Notion hit $865M in ARR in July 2026, up from $610M at the end of 2025 (+53% YoY).Notion is valued at $11 billion following a $270 million employee tender offer that closed January 26, 2026, with GIC joining existing investors Sequoia Capital and Index Ventures as participants.Notion operates a freemium SaaS model designed to encourage viral adoption by individual users and convert teams to paid plans as usage scales.

<ul><li>Sacra estimates that Airtable hit $480M in annual recurring revenue (ARR) in June 2026, up from $440M at the end of 2025 (+16% year-over-year).</li><li>Airtable's recent growth has been driven by enterprise adoption, where Airtable achieved 100% year-over-year revenue growth and 170% net dollar retention.</li><li>Airtable was valued at approximately $4B on secondary markets in January 2026.</li></ul>

Sacra estimates that Airtable hit $480M in annual recurring revenue (ARR) in June 2026, up from $440M at the end of 2025 (+16% year-over-year).Airtable's recent growth has been driven by enterprise adoption, where Airtable achieved 100% year-over-year revenue growth and 170% net dollar retention.Airtable was valued at approximately $4B on secondary markets in January 2026.

<ul><li>In October 2025, Sacra estimates that Gamma reached $102M in annual recurring revenue (ARR), up from $30.5M ARR at the end of 2024.</li><li>In November 2025, Gamma raised $68 million led by Andreessen Horowitz at a $2.1 billion valuation.</li><li>The company reports about 70 million customers with over 600,000 paying subscribers, profitability since 2023, and a lean team of 52 employees.</li></ul>

In October 2025, Sacra estimates that Gamma reached $102M in annual recurring revenue (ARR), up from $30.5M ARR at the end of 2024.In November 2025, Gamma raised $68 million led by Andreessen Horowitz at a $2.1 billion valuation.The company reports about 70 million customers with over 600,000 paying subscribers, profitability since 2023, and a lean team of 52 employees.

<ul><li>Sacra estimates that Grammarly hit $700M in annual recurring revenue (ARR) in May 2025, up from $650M at the end of 2024.</li><li>Grammarly maintains high gross margins of approximately 80% even with increased LLM-related costs from GrammarlyGO features.</li><li>Grammarly raised $1B in non-dilutive financing from General Catalyst’s Customer Value Fund, preserving its 2021 $13B equity valuation.</li></ul>

Sacra estimates that Grammarly hit $700M in annual recurring revenue (ARR) in May 2025, up from $650M at the end of 2024.Grammarly maintains high gross margins of approximately 80% even with increased LLM-related costs from GrammarlyGO features.Grammarly raised $1B in non-dilutive financing from General Catalyst’s Customer Value Fund, preserving its 2021 $13B equity valuation.

United States

Workspace software for notes, tasks, and databases with customizable layouts and collaboration

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Notion (NOTION US)

Notion At $865M/year Growing 82% YoY

TL;DR: After spending 2021-2024 expanding from docs & databases to challenge Microsoft Office and Google Workspace, Notion is now vying to win by...

Sacra

Primer: Notion - 10 Aug 2026

Workspace software for notes, tasks, and databases with customizable layouts and collaboration

Sacra

Primer: Airtable - 10 Aug 2026

Collaborative database software for building custom workflows without writing code

Sacra

Primer: Gamma - 18 Mar 2026

AI-powered editor for creating interactive, web-native presentations from text or documents

Sacra

Primer: Grammarly - 09 Mar 2026

Writing assistant software offering grammar, spelling, tone, and style suggestions across platforms

Sacra

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