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 Vercel hit $340M in GAAP revenue run-rate in March 2026, up from $200M in ARR in May 2025.</li><li>On September 30, 2025, Vercel raised a $300M oversubscribed Series F co-led by Accel and GIC at a $9.3B post-money valuation.</li><li>Vercel's AI infrastructure layer has also matured into a set of generally available platform services.</li></ul>

Sacra estimates that Vercel hit $340M in GAAP revenue run-rate in March 2026, up from $200M in ARR in May 2025.On September 30, 2025, Vercel raised a $300M oversubscribed Series F co-led by Accel and GIC at a $9.3B post-money valuation.Vercel's AI infrastructure layer has also matured into a set of generally available platform services.

<ul><li>Sacra estimates that Replit hit $525M in annualized revenue in April 2026, up from $300M at the end of 2025 (+1,775% year-over-year).</li><li>In March 2026, Replit raised $400M in a Series D led by Georgian at a $9B valuation—3x its valuation from six months prior.</li><li>The introduction of usage-based agent pricing in late 2024 dramatically expanded average revenue per user, particularly among developers and small teams paying for compute-intensive AI assistance.</li></ul>

Sacra estimates that Replit hit $525M in annualized revenue in April 2026, up from $300M at the end of 2025 (+1,775% year-over-year).In March 2026, Replit raised $400M in a Series D led by Georgian at a $9B valuation—3x its valuation from six months prior.The introduction of usage-based agent pricing in late 2024 dramatically expanded average revenue per user, particularly among developers and small teams paying for compute-intensive AI assistance.

<ul><li>Sacra estimates that Contentful hit $219M in annual recurring revenue (ARR) in 2024, up 20% year-over-year from $183M in 2023.</li><li>The company serves over 4,200 customers as of March 2025, up from over 4,000 customers in April 2024.</li><li>Contentful has raised approximately $349.6 million in total funding across multiple rounds.</li></ul>

Sacra estimates that Contentful hit $219M in annual recurring revenue (ARR) in 2024, up 20% year-over-year from $183M in 2023.The company serves over 4,200 customers as of March 2025, up from over 4,000 customers in April 2024.Contentful has raised approximately $349.6 million in total funding across multiple rounds.

<ul><li>Sacra estimates that Neon hit $25M in annual recurring revenue (ARR) in May 2025.</li><li>Databricks acquired Neon for approximately $1 billion in May 2025, representing a significant premium for the serverless Postgres platform.</li><li>The explosion in AI applications creates significant expansion opportunities as developers need Postgres databases for RAG systems, agent workflows, and vector storage.</li></ul>

Sacra estimates that Neon hit $25M in annual recurring revenue (ARR) in May 2025.Databricks acquired Neon for approximately $1 billion in May 2025, representing a significant premium for the serverless Postgres platform.The explosion in AI applications creates significant expansion opportunities as developers need Postgres databases for RAG systems, agent workflows, and vector storage.

<ul><li>Railway raised a $20 million Series A in May 2022 led by Redpoint Ventures.</li><li>Railway operates its own data centers in four regions, including US-West, US-East, Amsterdam, and Singapore.</li><li>Railway uses a usage-based SaaS model with tiered pricing plans.</li></ul>

Railway raised a $20 million Series A in May 2022 led by Redpoint Ventures.Railway operates its own data centers in four regions, including US-West, US-East, Amsterdam, and Singapore.Railway uses a usage-based SaaS model with tiered pricing plans.

United States

Hosting and deployment software for frontend teams building with Next.js and React

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Vercel (VERCEL US)

Primer: Vercel - 03 May 2026

Hosting and deployment software for frontend teams building with Next.js and React

Sacra

Primer: Replit - 28 May 2026

Browser-based code editor with real-time collaboration, AI assistance, and one-click deployment

Sacra

Primer: Contentful - 15 Dec 2025

Headless CMS with APIs for managing and delivering content across digital channels

Sacra

Primer: Neon - 07 Dec 2025

Serverless Postgres platform enabling developers to build and scale applications with autoscaling, database branching, and a serverless operating...

Sacra

Primer: Railway - 07 Dec 2025

Platform for developers to build, deploy, and scale full-stack web applications

Sacra

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