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 Brightflag reached €27 million in annual recurring revenue (ARR) in April 2025, an increase from €22 million in 2024.</li><li>Brightflag was acquired by Wolters Kluwer for €425 million in June 2025, representing an exit for the Dublin-based legal technology company.</li><li>The acquisition by Wolters Kluwer expands Brightflag's access to a broader customer base and distribution network.</li></ul>

Sacra estimates that Brightflag reached €27 million in annual recurring revenue (ARR) in April 2025, an increase from €22 million in 2024.Brightflag was acquired by Wolters Kluwer for €425 million in June 2025, representing an exit for the Dublin-based legal technology company.The acquisition by Wolters Kluwer expands Brightflag's access to a broader customer base and distribution network.

<ul><li>Onit's most recent funding was a $200 million investment from K1 Investment Management in January 2019.</li><li>In early 2025, Onit introduced Unity, a unified interface layer that consolidates its acquired brands.</li><li>Onit operates a B2B SaaS model targeting corporate legal departments, government agencies, and insurance companies.</li></ul>

Onit's most recent funding was a $200 million investment from K1 Investment Management in January 2019.In early 2025, Onit introduced Unity, a unified interface layer that consolidates its acquired brands.Onit operates a B2B SaaS model targeting corporate legal departments, government agencies, and insurance companies.

<ul><li>Clio&#39;s $1B acquisition of vLex gives it the #3 legal research corpus behind only Westlaw ($2.9B revenue) and LexisNexis ($1.9B revenue)—with 1B+ cases from 200+ jurisdictions plus citations and annotations—enabling it to vertically integrate its AI assistant with the underlying data layer vs. relying on Lexis &amp; Westlaw 3rd party APIs.</li><li>Clio&#39;s opportunity lies in going upmarket from SMB to enterprise, expanding from practice management to legal research (Westlaw &amp; LexisNexis), and then crossing over from its core law firm customer to corporate in-house teams to eat up contract lifecycle management.</li><li>Clio&#39;s success with a multi-product strategy comes from staying relentlessly focused on solving the real challenges lawyers face.</li></ul>

Clio&#39;s $1B acquisition of vLex gives it the #3 legal research corpus behind only Westlaw ($2.9B revenue) and LexisNexis ($1.9B revenue)—with 1B+ cases from 200+ jurisdictions plus citations and annotations—enabling it to vertically integrate its AI assistant with the underlying data layer vs. relying on Lexis &amp; Westlaw 3rd party APIs.Clio&#39;s opportunity lies in going upmarket from SMB to enterprise, expanding from practice management to legal research (Westlaw &amp; LexisNexis), and then crossing over from its core law firm customer to corporate in-house teams to eat up contract lifecycle management.Clio&#39;s success with a multi-product strategy comes from staying relentlessly focused on solving the real challenges lawyers face.

Shubham Datta, VP Of Corporate Development At Clio, On Clio's $1B Acquisition Of vLex

United States

Enterprise software and AI platforms for legal, compliance, sales, IT, HR, and finance departments

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Onit (ONIT US)

Primer: Brightflag - 17 Sep 2025

AI-powered platform for corporate legal teams to manage matters, control legal spend, and enhance collaboration with outside counsel

Sacra

Primer: Onit - 17 Sep 2025

Enterprise software and AI platforms for legal, compliance, sales, IT, HR, and finance departments

Sacra

Shubham Datta, VP Of Corporate Development At Clio, On Clio's $1B Acquisition Of vLex

What is Clio in short...

Sacra

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