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>Wingspan has grown its transaction volume by 992x over the last 3 years, riding the twin tailwinds of remote work and the rise of the independent contractor.</li><li>Since then, they’ve raised a $14M Series A led by Andreessen Horowitz and grown their transaction volume by 6x, bringing their total volume growth over the last 3 years to 992x.</li><li>In April 2020, Wingspan was doing about $500K in annualized transaction volume—in May 2023, they hit $450M, up 992x and 6.1x year-over-year from 2022.</li></ul>

Wingspan has grown its transaction volume by 992x over the last 3 years, riding the twin tailwinds of remote work and the rise of the independent contractor.Since then, they’ve raised a $14M Series A led by Andreessen Horowitz and grown their transaction volume by 6x, bringing their total volume growth over the last 3 years to 992x.In April 2020, Wingspan was doing about $500K in annualized transaction volume—in May 2023, they hit $450M, up 992x and 6.1x year-over-year from 2022.

Wingspan's 992x Growth In Contractor Payroll

<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>COVID was a massive tailwind for remote and international hiring.</li><li>Companies reducing headcount is obviously a short-term headwind, and there's no denying that.</li><li>Ultimately, as with anything, it is a risk management exercise, and hopefully we can give you the right advice and the right tools to be able to make that decision for yourself.</li></ul>

COVID was a massive tailwind for remote and international hiring.Companies reducing headcount is obviously a short-term headwind, and there's no denying that.Ultimately, as with anything, it is a risk management exercise, and hopefully we can give you the right advice and the right tools to be able to make that decision for yourself.

Matt Drozdzynski, CEO And co-founder Of Plane, On Global Payroll post-COVID

<ul><li>It&#39;s supposed to be north of 50% of the population in the next five to 10 years, and there are more freelancers today than there were yesterday.</li><li>We&#39;re saving significant time and money for companies, and we provide a much better experience for the end contractors.</li><li>We just have more conviction than ever.</li></ul>

It&#39;s supposed to be north of 50% of the population in the next five to 10 years, and there are more freelancers today than there were yesterday.We&#39;re saving significant time and money for companies, and we provide a much better experience for the end contractors.We just have more conviction than ever.

Anthony Mironov, CEO Of Wingspan, On The Convergence In back-office SaaS

<ul><li>In opposition to incumbent 401(k) providers like Fidelity/Vanguard charged savers 1%-2% of assets under management (AUM), TaskRabbit co-founder Kevin Busque founded Guideline ($80M ARR) in 2015—as an employee-centric 401(k) benefits companies could use to attract talent.</li><li>Guideline’s business model shifted the burden of paying for benefits from the individual to the company—with a flat monthly SaaS fee, a $8 per/mo charge per employee, and a nominal 0.08% take rate on AUM.</li><li>Zooming out, Guideline’s opportunity from here is large—all U.S. 401(k) plans held $7.3 trillion in assets, and Guideline has roughly $8.5B on the platform, or about 0.1% of that 401(k) total.</li></ul>

In opposition to incumbent 401(k) providers like Fidelity/Vanguard charged savers 1%-2% of assets under management (AUM), TaskRabbit co-founder Kevin Busque founded Guideline ($80M ARR) in 2015—as an employee-centric 401(k) benefits companies could use to attract talent.Guideline’s business model shifted the burden of paying for benefits from the individual to the company—with a flat monthly SaaS fee, a $8 per/mo charge per employee, and a nominal 0.08% take rate on AUM.Zooming out, Guideline’s opportunity from here is large—all U.S. 401(k) plans held $7.3 trillion in assets, and Guideline has roughly $8.5B on the platform, or about 0.1% of that 401(k) total.

United States

Workforce management software unifying HR, IT, and contractor payroll for global teams

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Rippling (RIPPLING US)

Wingspan's 992x Growth In Contractor Payroll

TL;DR: Wingspan has grown its transaction volume by 992x over the last 3 years, riding the twin tailwinds of remote work and the rise of the...

Sacra

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

Matt Drozdzynski, CEO And co-founder Of Plane, On Global Payroll post-COVID

Sacra interview with Matt Drozdzynski, CEO and co-founder of Plane.

Sacra

Anthony Mironov, CEO Of Wingspan, On The Convergence In back-office SaaS

Sacra interview with Anthony Mironov, CEO of Wingspan.

Sacra

Guideline: The $80M/year 401(k)

Gusto, Rippling and Deel have turned into app stores for HR, benefits and finance, both enabling new companies through the access to clean payroll...

Sacra

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