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 Kapital hit $184M in annualized revenue at the end of 2024, up 156% year-over-year from $72M in 2023.</li><li>Flex is Kapital’s “star product”, propelling total payment volume to $8.4B in 2024, up 298% from $2.1B in 2023.</li><li>The lack of LatAm competition in SMB fintech SaaS and digital native banks has enabled Kapital’s all-in-one expansion from the bank account.</li></ul>

Sacra estimates that Kapital hit $184M in annualized revenue at the end of 2024, up 156% year-over-year from $72M in 2023.Flex is Kapital’s “star product”, propelling total payment volume to $8.4B in 2024, up 298% from $2.1B in 2023.The lack of LatAm competition in SMB fintech SaaS and digital native banks has enabled Kapital’s all-in-one expansion from the bank account.

<ul><li>Synthesia hit $100M in ARR in March 2025, up from $88M at the end of 2024.</li><li>Growth took off in 2023-2024 as Synthesia launched LLM-powered features.</li><li>With their AI video platform vertically integrating avatar creation, screen recording, script-centric editing, and one-click translation across 120+ languages, Synthesia's upside case sees it becoming a Canva-esque creative studio for AI talking head videos, making video production accessible to every corporate department—both internal and external facing—from HR to compliance to corporate comms to to sales to marketing.</li></ul>

Synthesia hit $100M in ARR in March 2025, up from $88M at the end of 2024.Growth took off in 2023-2024 as Synthesia launched LLM-powered features.With their AI video platform vertically integrating avatar creation, screen recording, script-centric editing, and one-click translation across 120+ languages, Synthesia's upside case sees it becoming a Canva-esque creative studio for AI talking head videos, making video production accessible to every corporate department—both internal and external facing—from HR to compliance to corporate comms to to sales to marketing.

<ul><li>Sacra estimates that DataSnipper hit $45M in annual recurring revenue (ARR) in 2023, up 150% YoY from $18M in 2022, as they expanded into the United States and landed contracts with the Big 4 accounting firms in the United States—EY, PwC, KPMG, and Deloitte.</li><li>DataSnipper reached a $1B valuation following its Series B funding round in 2024, led by Index Ventures with a $100 million investment.</li><li>In March 2025, DataSnipper launched DocuMine, a generative AI tool that delivers precise answers from imported documents directly within Excel.</li></ul>

Sacra estimates that DataSnipper hit $45M in annual recurring revenue (ARR) in 2023, up 150% YoY from $18M in 2022, as they expanded into the United States and landed contracts with the Big 4 accounting firms in the United States—EY, PwC, KPMG, and Deloitte.DataSnipper reached a $1B valuation following its Series B funding round in 2024, led by Index Ventures with a $100 million investment.In March 2025, DataSnipper launched DocuMine, a generative AI tool that delivers precise answers from imported documents directly within Excel.

<ul><li>Vena will hit $116M in annual recurring revenue at the end of 2024, up 25% YoY.</li><li>Instead of going upmarket, Vena is betting on horizontal expansion beyond core FP&A into sales forecasts, headcount planning, and operational planning.</li><li>Against the modern trend of FP&A platforms like Runway, Vena positions as enhancing Excel for its 1.5B MAUs who rely on and love the spreadsheet.</li></ul>

Vena will hit $116M in annual recurring revenue at the end of 2024, up 25% YoY.Instead of going upmarket, Vena is betting on horizontal expansion beyond core FP&A into sales forecasts, headcount planning, and operational planning.Against the modern trend of FP&A platforms like Runway, Vena positions as enhancing Excel for its 1.5B MAUs who rely on and love the spreadsheet.

<ul><li>Sacra estimates Vena hit $116M in annual recurring revenue in 2024, up 25% year-over-year.</li><li>Vena has raised over $450 million in total funding, including a significant $300 million Series C round in 2021 led by Vista Equity Partners.</li><li>Vena&#39;s focus on the Microsoft 365 ecosystem, with deep integrations into PowerPoint, Power BI and Dynamics 365 Business Central, positions it well to capture share among the 400M paid Microsoft users who rely heavily on Excel for financial planning and analysis.</li></ul>

Sacra estimates Vena hit $116M in annual recurring revenue in 2024, up 25% year-over-year.Vena has raised over $450 million in total funding, including a significant $300 million Series C round in 2021 led by Vista Equity Partners.Vena&#39;s focus on the Microsoft 365 ecosystem, with deep integrations into PowerPoint, Power BI and Dynamics 365 Business Central, positions it well to capture share among the 400M paid Microsoft users who rely heavily on Excel for financial planning and analysis.

United States

Collaborative financial modeling tool for cross-functional teams to plan, forecast, and understand business

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Runway (COM US)

Kapital At $184M/yr Growing 156% YoY

TL;DR: Over the past year, Kapital has layered lending, stablecoins, and treasury tools on top of its core banking platform to meet the cash flow...

Sacra

$100M/yr Canva For Talking Head Videos

TL;DR: By vertically integrating avatar creation, screen recording, script-centric editing, and one-click translation, Synthesia is positioning...

Sacra

Primer: DataSnipper - 14 Dec 2024

Excel add-in for auditors to extract and validate data from documents

Sacra

Vena At $116M ARR

TL;DR: Sacra estimates that Vena will hit $116M in annual recurring revenue at the end of 2024, up 25% YoY. Going against the modern trend of FP&A...

Sacra

Primer: Vena - 12 Dec 2024

Excel-based FP&A software for midmarket finance teams using Microsoft 365 tools

Sacra

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