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>Unqork has raised $367M from investors like BlackRock, Goldman Sachs, and CapitalG.</li><li>By 2025, more than 70% of new applications made by enterprises are expected to use low/no-code, compared to 25% today.</li><li>Unqork started by targeting financial services companies and is now expanding to healthcare and government.</li></ul>

Unqork has raised $367M from investors like BlackRock, Goldman Sachs, and CapitalG.By 2025, more than 70% of new applications made by enterprises are expected to use low/no-code, compared to 25% today.Unqork started by targeting financial services companies and is now expanding to healthcare and government.

<ul><li>Sacra estimates that Retool hit $120M in annual recurring revenue (ARR) in October 2025, up from $90M at the end of 2024.</li><li>Retool raised a $45M Series C in July 2022 at a $3.2B valuation, led by Sequoia Capital with participation from notable investors.</li><li>The introduction of Agents and AppGen represents Retool&#39;s expansion into AI-driven business process automation.</li></ul>

Sacra estimates that Retool hit $120M in annual recurring revenue (ARR) in October 2025, up from $90M at the end of 2024.Retool raised a $45M Series C in July 2022 at a $3.2B valuation, led by Sequoia Capital with participation from notable investors.The introduction of Agents and AppGen represents Retool&#39;s expansion into AI-driven business process automation.

<ul><li>Sacra estimates Kissflow&#39;s true valuation at about $400M, based on the assumption of a roughly 15x EV to sales multiple.</li><li>Kissflow focuses on solving problems in the &quot;middle-office&quot; where existing company-wide software suites like CRMs and ERPs do not live.</li><li>By 2025, more than 70% of new applications made by enterprises are expected to use low/no-code, compared to 25% today.</li></ul>

Sacra estimates Kissflow&#39;s true valuation at about $400M, based on the assumption of a roughly 15x EV to sales multiple.Kissflow focuses on solving problems in the &quot;middle-office&quot; where existing company-wide software suites like CRMs and ERPs do not live.By 2025, more than 70% of new applications made by enterprises are expected to use low/no-code, compared to 25% today.

<ul><li>We looked for emerging market leaders that sold not just to the growing fintechs, but those that could sell to both and could crack the up-and-comers and the legacy incumbents.</li><li>Some of these waves are ongoing, while the B2B payments software wave and a few new ones are percolating, but that&#39;s how I would summarize them quickly.</li><li>Fraud, in financial services, is a big industry and it&#39;s only going to grow.</li></ul>

We looked for emerging market leaders that sold not just to the growing fintechs, but those that could sell to both and could crack the up-and-comers and the legacy incumbents.Some of these waves are ongoing, while the B2B payments software wave and a few new ones are percolating, but that&#39;s how I would summarize them quickly.Fraud, in financial services, is a big industry and it&#39;s only going to grow.

Charles Birnbaum, Partner At Bessemer Venture Partners, On The Five Waves Of Fintech

<ul><li>Unqork's revenue has been growing steadily over the past few years, with a significant increase in the last fiscal year.</li><li>The company has expanded its user base significantly, reaching a diverse range of industries.</li><li>Unqork's valuation has risen considerably, reflecting investor confidence in its business model.</li></ul>

Unqork's revenue has been growing steadily over the past few years, with a significant increase in the last fiscal year.The company has expanded its user base significantly, reaching a diverse range of industries.Unqork's valuation has risen considerably, reflecting investor confidence in its business model.

Unqork Revenue, Users, Growth, And Valuation

United States

Software tool for building enterprise applications without writing code

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Unqork (UNQORK US)

Primer: Unqork - 27 Feb 2026

Software tool for building enterprise applications without writing code

Sacra

Primer: Retool - 13 Nov 2025

Tool for developers to build internal apps on top of production data sources

Sacra

Primer: Kissflow - 06 Oct 2023

Work platform for enterprises to build apps and automate workflows with low-code tools

Sacra

Charles Birnbaum, Partner At Bessemer Venture Partners, On The Five Waves Of Fintech

Sacra interview with Charles Birnbaum, partner at Bessemer Venture Partners.

Sacra

Unqork Revenue, Users, Growth, And Valuation

Sacra model for Unqork's revenue, comps, and growth rate.

Sacra

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