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 Stan hit $35M ARR in 2025, up 24% YoY, decelerating from 93% growth in 2024 and 765% in 2023.</li><li>Stan reached profitability at approximately 40% EBITDA margins, remaining capital-light with its $5M seed from Forerunner (2022) as its sole round of institutional funding.</li><li>Whop's marketplace model surpassed Stan in revenue scale in 2025 and is growing roughly 10x faster.</li></ul>

Sacra estimates that Stan hit $35M ARR in 2025, up 24% YoY, decelerating from 93% growth in 2024 and 765% in 2023.Stan reached profitability at approximately 40% EBITDA margins, remaining capital-light with its $5M seed from Forerunner (2022) as its sole round of institutional funding.Whop's marketplace model surpassed Stan in revenue scale in 2025 and is growing roughly 10x faster.

<ul><li>Sacra estimates that Fanvue hit $200M in ARR in May 2026, up from $100M at the end of 2025.</li><li>In January 2026, Fanvue closed a $22 million Series A led by Inner Circle, with proceeds earmarked for global expansion, hiring, and AI product development.</li><li>The company generates revenue by taking a 20% cut of all transactions that occur on the platform, including subscriptions, tips, and content sales.</li></ul>

Sacra estimates that Fanvue hit $200M in ARR in May 2026, up from $100M at the end of 2025.In January 2026, Fanvue closed a $22 million Series A led by Inner Circle, with proceeds earmarked for global expansion, hiring, and AI product development.The company generates revenue by taking a 20% cut of all transactions that occur on the platform, including subscriptions, tips, and content sales.

<ul><li>Sacra estimates that ShopMy generated $80M in revenue in 2025, up 196% from $27M in 2024.</li><li>ShopMy raised $77.5M in a Series B round in January 2025 led by Bessemer Venture Partners and Bain Capital Ventures.</li><li>ShopMy functions as a comprehensive operating system for creator commerce that bridges the gap between social media influence and measurable sales performance.</li></ul>

Sacra estimates that ShopMy generated $80M in revenue in 2025, up 196% from $27M in 2024.ShopMy raised $77.5M in a Series B round in January 2025 led by Bessemer Venture Partners and Bain Capital Ventures.ShopMy functions as a comprehensive operating system for creator commerce that bridges the gap between social media influence and measurable sales performance.

<ul><li>Kajabi reached a $2B valuation in 2021 when the company hit $100M ARR, corresponding to a 20x revenue multiple during the peak of creator economy enthusiasm.</li><li>The platform enables creators to build branded websites, create and sell digital courses, host membership communities, deliver coaching services, launch podcasts, send newsletters, and process payments—all from a single dashboard.</li><li>Since its founding in 2010, Kajabi has paid out $10B to creators, with total payouts rising 25% year-over-year as of August 2025.</li></ul>

Kajabi reached a $2B valuation in 2021 when the company hit $100M ARR, corresponding to a 20x revenue multiple during the peak of creator economy enthusiasm.The platform enables creators to build branded websites, create and sell digital courses, host membership communities, deliver coaching services, launch podcasts, send newsletters, and process payments—all from a single dashboard.Since its founding in 2010, Kajabi has paid out $10B to creators, with total payouts rising 25% year-over-year as of August 2025.

<ul><li>Sacra estimates that Gumroad hit $21M in revenue in 2023, up 96% from $11M in 2022.</li><li>Gumroad's pricing change from a 3.5-8.5% variable take rate to a flat 10% take rate on GMV in early 2023 near doubled monthly revenue from $1M to $1.8M and flipped them from burning cash (-$1M net in 2022) to generating $9M in net profit for 2023.</li><li>Building the best checkout for creators has the potential to grow Gumroad into a big business while at the same time not compromising Gumroad’s dedication to creator-alignment.</li></ul>

Sacra estimates that Gumroad hit $21M in revenue in 2023, up 96% from $11M in 2022.Gumroad's pricing change from a 3.5-8.5% variable take rate to a flat 10% take rate on GMV in early 2023 near doubled monthly revenue from $1M to $1.8M and flipped them from burning cash (-$1M net in 2022) to generating $9M in net profit for 2023.Building the best checkout for creators has the potential to grow Gumroad into a big business while at the same time not compromising Gumroad’s dedication to creator-alignment.

United States

Storefront tool for creators to sell downloads, courses, and bookings from link-in-bio

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Stan (STAN US)

Primer: Stan - 08 Apr 2026

Storefront tool for creators to sell downloads, courses, and bookings from link-in-bio

Sacra

Primer: Fanvue - 31 May 2026

Subscription-based platform for creators to monetize content and engage with fans

Sacra

Primer: ShopMy - 20 Feb 2026

Platform enabling creators to curate digital shops for product recommendations and monetize them through affiliate links

Sacra

Primer: Kajabi - 11 Jan 2026

Software for creators to build, market, and sell online courses and digital products

Sacra

Primer: Gumroad - 07 Dec 2024

Checkout tool for creators to sell digital products, memberships, and courses online

Sacra

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