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 RunSignup generated $21M in revenue in 2025, up 11% YoY.</li><li>The company&#39;s transaction volume grew from $270M in 2019 to projected volumes approaching $500M in 2024, driven by both market share gains and post-pandemic recovery in event participation.</li><li>RunSignup has crossed 50% U.S. endurance-market share, winning well over 50% of new races while sustaining a competitor churn rate of just 1.0% and a race churn rate of 3.4%.</li></ul>

Sacra estimates RunSignup generated $21M in revenue in 2025, up 11% YoY.The company&#39;s transaction volume grew from $270M in 2019 to projected volumes approaching $500M in 2024, driven by both market share gains and post-pandemic recovery in event participation.RunSignup has crossed 50% U.S. endurance-market share, winning well over 50% of new races while sustaining a competitor churn rate of just 1.0% and a race churn rate of 3.4%.

<ul><li>Sacra estimates Strava hit $490M in annual recurring revenue in 2025, up 32% year-over-year from $370M in 2024.</li><li>Strava raised a funding round in May 2025 at a valuation of $2.2B including debt, led by Sequoia Capital with participation from TCV, Jackson Square Ventures, and Go4it Capital.</li><li>Strava confidentially submitted a draft Form S-1 to the SEC for a proposed U.S. IPO, with share count and price range not yet determined.</li></ul>

Sacra estimates Strava hit $490M in annual recurring revenue in 2025, up 32% year-over-year from $370M in 2024.Strava raised a funding round in May 2025 at a valuation of $2.2B including debt, led by Sequoia Capital with participation from TCV, Jackson Square Ventures, and Go4it Capital.Strava confidentially submitted a draft Form S-1 to the SEC for a proposed U.S. IPO, with share count and price range not yet determined.

<ul><li>In 2009, Strava launched their combination fitness tracker and “proof of workout” social layer, indexed on interoperability with all 3rd-party hardware and software.</li><li>Sacra estimates that Strava hit $265M ARR in 2023 with 100 million users and a $1.5B valuation as of their $110M Series F in November 2020 led by TCV and Sequoia.</li><li>While the biggest social networks are seeing engagement decay as they skew more towards supernodes like celebrity and meme accounts, Strava’s proof of workout mechanism feeds more bottom-up organic participation.</li></ul>

In 2009, Strava launched their combination fitness tracker and “proof of workout” social layer, indexed on interoperability with all 3rd-party hardware and software.Sacra estimates that Strava hit $265M ARR in 2023 with 100 million users and a $1.5B valuation as of their $110M Series F in November 2020 led by TCV and Sequoia.While the biggest social networks are seeing engagement decay as they skew more towards supernodes like celebrity and meme accounts, Strava’s proof of workout mechanism feeds more bottom-up organic participation.

Strava: The $265M/year Whole Foods Of Social Networks

United States

Event management software for race organizers to handle registration, marketing, and race-day logistics

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RunSignup (RUNSIGNUP US)

Primer: RunSignup - 31 Jul 2026

Event management software for race organizers to handle registration, marketing, and race-day logistics

Sacra

Primer: Strava - 31 Jul 2026

Fitness tracking app with social features for runners, cyclists, and outdoor athletes

Sacra

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Primer: RunSignup - 31 Jul 2026

Event management software for race organizers to handle registration, marketing, and race-day logistics

Sacra

Primer: Strava - 31 Jul 2026

Fitness tracking app with social features for runners, cyclists, and outdoor athletes

Sacra

Strava: The $265M/year Whole Foods Of Social Networks

TL;DR: Sacra estimates that Strava hit $265M in annual recurring revenue (ARR) this year with their asset-light fitness social layer. Now, they’re...

Sacra