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>When we first covered Snyk, we estimated that they had crossed $250M in annual recurring revenue (ARR) at the end of 2023, growing 25% YoY.</li><li>Now, Sacra estimates that Snyk has crossed $300M in ARR as of October, growing 25% YoY, with tailwinds from the rise of AI code generation—like Cursor ($65M ARR) and GitHub Copilot—in the enterprise.</li><li>Snyk is increasingly an enterprise business—enterprise ARR grew 40% and represented 70% of net new ARR in Q2'24 as they acquired companies like Probely (API vulnerability scanning) and Helios (distributed app testing) to sell themselves as a complete developer security platform.</li></ul>

When we first covered Snyk, we estimated that they had crossed $250M in annual recurring revenue (ARR) at the end of 2023, growing 25% YoY.Now, Sacra estimates that Snyk has crossed $300M in ARR as of October, growing 25% YoY, with tailwinds from the rise of AI code generation—like Cursor ($65M ARR) and GitHub Copilot—in the enterprise.Snyk is increasingly an enterprise business—enterprise ARR grew 40% and represented 70% of net new ARR in Q2'24 as they acquired companies like Probely (API vulnerability scanning) and Helios (distributed app testing) to sell themselves as a complete developer security platform.

<ul><li>Snyk (2015) grew to 100K developers in 2 years with its free vulnerability scanning tool that made it easy for Node.js developers to hook up a GitHub repo and automatically scan all its open source dependencies for known vulnerabilities.</li><li>Shrinking development cycles have obsoleted the traditional security review, shifting responsibility for app security from security teams to developers themselves, giving Snyk tailwinds such that Sacra estimates ARR hit $250M in 2023, up 25% year-over-year.</li><li>Snyk is now rebundling security around the developer, taking on incumbents like Palo Alto Networks and Wiz as they expand into container security (Aqua Security), infrastructure-as-code protection (HashiCorp), and cloud security (Wiz).</li></ul>

Snyk (2015) grew to 100K developers in 2 years with its free vulnerability scanning tool that made it easy for Node.js developers to hook up a GitHub repo and automatically scan all its open source dependencies for known vulnerabilities.Shrinking development cycles have obsoleted the traditional security review, shifting responsibility for app security from security teams to developers themselves, giving Snyk tailwinds such that Sacra estimates ARR hit $250M in 2023, up 25% year-over-year.Snyk is now rebundling security around the developer, taking on incumbents like Palo Alto Networks and Wiz as they expand into container security (Aqua Security), infrastructure-as-code protection (HashiCorp), and cloud security (Wiz).

<ul><li>Wiz (founded January 2020) went from $1M ARR to $100M in 18 months, faster than any software company in history, with their agentless scanner that hooks into your AWS, Azure, and/or Google Cloud and prioritizes the most vulnerable attack surfaces.</li><li>Sacra estimates that Wiz is at $396M ARR as of April 2024, up 128% year-over-year, with about 800 customers for an annual contract value of $495K.</li><li>Wiz is betting that their “suicide plan” for building a cybersecurity giant—raising $900M and hiring 750 employees—can get them into multi-year contracts in the enterprise before incumbents can get traction with their own CNAPPs.</li></ul>

Wiz (founded January 2020) went from $1M ARR to $100M in 18 months, faster than any software company in history, with their agentless scanner that hooks into your AWS, Azure, and/or Google Cloud and prioritizes the most vulnerable attack surfaces.Sacra estimates that Wiz is at $396M ARR as of April 2024, up 128% year-over-year, with about 800 customers for an annual contract value of $495K.Wiz is betting that their “suicide plan” for building a cybersecurity giant—raising $900M and hiring 750 employees—can get them into multi-year contracts in the enterprise before incumbents can get traction with their own CNAPPs.

United Kingdom

Tool for developers to detect and fix code, container, and cloud vulnerabilities

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Snyk (SNYK GB)

Snyk At $300M ARR

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Snyk At $250M ARR

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Israel's YC Of Cybersecurity

TL;DR: Wiz went from $1M to $100M ARR in 18 months, faster than any software company before—today, Sacra estimates Wiz is at $396M ARR, up 128%...

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