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 Runway reached $200M ARR in August 2026, up 108% from $96M at the end of 2025, following 37% YoY growth in 2025.</li><li>Runway reported net revenue retention above 300% in August 2026, with one Fortune 20 customer increasing its usage 17x during the year.</li><li>As of February 10, 2026, Runway closed a $315M Series E led by General Atlantic, with participation from NVIDIA, Adobe Ventures, AllianceBernstein, AMD Ventures, Fidelity, Mirae Asset, Emphatic Capital, Felicis, and Premji Invest, at a $5.3B post-money valuation.</li></ul>

Sacra estimates Runway reached $200M ARR in August 2026, up 108% from $96M at the end of 2025, following 37% YoY growth in 2025.Runway reported net revenue retention above 300% in August 2026, with one Fortune 20 customer increasing its usage 17x during the year.As of February 10, 2026, Runway closed a $315M Series E led by General Atlantic, with participation from NVIDIA, Adobe Ventures, AllianceBernstein, AMD Ventures, Fidelity, Mirae Asset, Emphatic Capital, Felicis, and Premji Invest, at a $5.3B post-money valuation.

<ul><li>Sacra estimates OpenArt hit $100M ARR in June 2026, up 43% from $70M at the end of 2025 and 400% YoY from $20M in June 2025.</li><li>OpenArt raised $30M in a Series A round led by Canaan Partners in January 2026, with participation from Basis Set Ventures and DCM Ventures.</li><li>OpenArt's expansion into video represents a natural evolution of their core competencies in image generation.</li></ul>

Sacra estimates OpenArt hit $100M ARR in June 2026, up 43% from $70M at the end of 2025 and 400% YoY from $20M in June 2025.OpenArt raised $30M in a Series A round led by Canaan Partners in January 2026, with participation from Basis Set Ventures and DCM Ventures.OpenArt's expansion into video represents a natural evolution of their core competencies in image generation.

<ul><li>Higgsfield hit $1B in annualized revenue in September 2026, up from $700M in August and about $200M at the end of 2025, reaching its year-end target three months early.</li><li>Higgsfield raised a $400M Series B in August 2026 at a $5.4B valuation, led by DST Global with participation from Goldman Sachs Alternatives, Tribe Capital, Intel Capital, and Liberty Global Tech Ventures, among others.</li><li>Growth is driven by higher-ARPU products including Ads 2.0, Soul UGC Builder, and UGC Factory for e-commerce creative teams, alongside presets that move customers into longer clips, higher resolutions, and multi-shot workflows.</li></ul>

Higgsfield hit $1B in annualized revenue in September 2026, up from $700M in August and about $200M at the end of 2025, reaching its year-end target three months early.Higgsfield raised a $400M Series B in August 2026 at a $5.4B valuation, led by DST Global with participation from Goldman Sachs Alternatives, Tribe Capital, Intel Capital, and Liberty Global Tech Ventures, among others.Growth is driven by higher-ARPU products including Ads 2.0, Soul UGC Builder, and UGC Factory for e-commerce creative teams, alongside presets that move customers into longer clips, higher resolutions, and multi-shot workflows.

Black Forest Labs / Private Capital Markets

<ul><li>Sacra estimates that Black Forest Labs hit $96M in annualized revenue as of August 2025.</li><li>Black Forest Labs raised $31 million in a seed round led by Andreessen Horowitz in August 2024.</li><li>Black Forest Labs is a generative AI company that develops the Flux family of diffusion models for creating and editing images and video.</li></ul>

Sacra estimates that Black Forest Labs hit $96M in annualized revenue as of August 2025.Black Forest Labs raised $31 million in a seed round led by Andreessen Horowitz in August 2024.Black Forest Labs is a generative AI company that develops the Flux family of diffusion models for creating and editing images and video.

<ul><li>ComfyUI raised $30 million at a $500 million valuation in a round led by Craft Ventures in April 2026, bringing total capital raised to approximately $47.5 million.</li><li>Since launching as open source in early 2023, ComfyUI has grown to over 4 million users and more than 150,000 daily downloads.</li><li>The risk is that these simplified tools continue adding advanced features while maintaining their accessibility advantage, potentially commoditizing ComfyUI's power-user moat.</li></ul>

ComfyUI raised $30 million at a $500 million valuation in a round led by Craft Ventures in April 2026, bringing total capital raised to approximately $47.5 million.Since launching as open source in early 2023, ComfyUI has grown to over 4 million users and more than 150,000 daily downloads.The risk is that these simplified tools continue adding advanced features while maintaining their accessibility advantage, potentially commoditizing ComfyUI's power-user moat.

United States

Web-based video editing software with AI tools for creators, marketers, and filmmakers

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Runway (RUNWAY US)

Primer: Runway - 09 Oct 2026

Web-based video editing software with AI tools for creators, marketers, and filmmakers

Sacra

Primer: OpenArt - 08 Oct 2026

Tool for generating and editing AI images and videos from text-based stories

Sacra

Primer: Higgsfield - 08 Oct 2026

AI-native video reasoning engine enabling creators and enterprises to produce cinematic-quality short-form video in minutes

Sacra

Primer: Black Forest Labs - 15 Jun 2026

Developer of advanced generative deep learning models for images and videos emphasizing broad accessibility and transparency

Sacra

Primer: ComfyUI - 26 Apr 2026

Open-source, node-based application for generating images, videos, and audio using AI

Sacra

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