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>Retool is transforming from a drag-and-drop CRUD builder into an AI-powered internal tools platform where engineering teams can ship production-grade apps from natural language.</li><li>Sacra estimates Retool hit $120M ARR in October 2025, up from $90M at the end of 2024.</li><li>Following Retool’s launch of AppGen (April 2025) and Agents (May 2025) layering on AI prompting credits and agent hours as units of monetization.</li></ul>

Retool is transforming from a drag-and-drop CRUD builder into an AI-powered internal tools platform where engineering teams can ship production-grade apps from natural language.Sacra estimates Retool hit $120M ARR in October 2025, up from $90M at the end of 2024.Following Retool’s launch of AppGen (April 2025) and Agents (May 2025) layering on AI prompting credits and agent hours as units of monetization.

<ul><li>The early use cases were simple CRUD applications where somebody was displaying data from their database in a table and then providing a form to edit and update that data or add new data.</li><li>Today of course, we have a lot of Fortune 100, Fortune 500 companies using us where people will have thousands of users on Appsmith.</li><li>Appsmith today has around 10,000 companies that use us every month, but we have sent zero cold emails and we have never run ads.</li></ul>

The early use cases were simple CRUD applications where somebody was displaying data from their database in a table and then providing a form to edit and update that data or add new data.Today of course, we have a lot of Fortune 100, Fortune 500 companies using us where people will have thousands of users on Appsmith.Appsmith today has around 10,000 companies that use us every month, but we have sent zero cold emails and we have never run ads.

Abhishek Nayak, CEO Of Appsmith, On Building An Open Source Internal Tool Builder

<ul><li>We got pretty strong initial traction with just that scripts-to-apps idea.</li><li>Now, we've built out a lot more additional features to help build internal tools, though it took us a while to get there.</li><li>Since then, we have seen a significant uptick in our ability to close larger agreements.</li></ul>

We got pretty strong initial traction with just that scripts-to-apps idea.Now, we've built out a lot more additional features to help build internal tools, though it took us a while to get there.Since then, we have seen a significant uptick in our ability to close larger agreements.

Ravi Parikh, CEO Of Airplane, On Building An end-to-end Internal Tools Platform

<ul><li>Our goal was to get our engineers out of the weeds and make Retool our force multiplier.</li><li>Retool provides dashboards, but you can also view a customer&#39;s configuration and then with one click, change their configurations or send emails very easily.</li><li>For Lithic, it’s been the last 10% of customization that’s delivered the majority of the value.</li></ul>

Our goal was to get our engineers out of the weeds and make Retool our force multiplier.Retool provides dashboards, but you can also view a customer&#39;s configuration and then with one click, change their configurations or send emails very easily.For Lithic, it’s been the last 10% of customization that’s delivered the majority of the value.

Ronnie Caspers, Product At Lithic, On Using Retool For Fintech Ops

<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

Open-source React framework for building customizable CRUD-heavy admin panels and dashboards

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Retool Vs Replit

TL;DR: Retool is transforming from a drag-and-drop CRUD builder into an AI-powered internal tools platform where engineering teams can ship...

Sacra

Abhishek Nayak, CEO Of Appsmith, On Building An Open Source Internal Tool Builder

Sacra interview with Abhishek Nayak, CEO and co-founder of Appsmith.

Sacra

Ravi Parikh, CEO Of Airplane, On Building An end-to-end Internal Tools Platform

Sacra interview with Ravi Parikh, the CEO of Airplane.

Sacra

Ronnie Caspers, Product At Lithic, On Using Retool For Fintech Ops

Sacra interview with Ronnie Caspers, Product at Lithic, on the fintech ops use case for Retool.

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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