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 PandaDoc hit $100M in annual recurring revenue (ARR) in August 2024, up 20% from $83M at the end of 2023, as they aggressively colonized sales data rooms, CPQs, payments and notarization.</li><li>Sacra estimates that PandaDoc hit $100M in annual recurring revenue (ARR) in 2023, up 20% from $83M at the end of 2023, valued at $1B as of their 2021 Series C for a 25x multiple on their $40M ARR in 2021, with 56,000 customers for average revenue per customer (ARPC) of about $1.8K.</li><li>Standalone e-sign companies like PandaDoc expand their TAM by aggressively colonizing sales data rooms (DocSend), CPQs (DealHub), payments (Stripe Payment Links), and notarization (Notarize).</li></ul>

Sacra estimates that PandaDoc hit $100M in annual recurring revenue (ARR) in August 2024, up 20% from $83M at the end of 2023, as they aggressively colonized sales data rooms, CPQs, payments and notarization.Sacra estimates that PandaDoc hit $100M in annual recurring revenue (ARR) in 2023, up 20% from $83M at the end of 2023, valued at $1B as of their 2021 Series C for a 25x multiple on their $40M ARR in 2021, with 56,000 customers for average revenue per customer (ARPC) of about $1.8K.Standalone e-sign companies like PandaDoc expand their TAM by aggressively colonizing sales data rooms (DocSend), CPQs (DealHub), payments (Stripe Payment Links), and notarization (Notarize).

<ul><li>Pure product-led growth is giving way to a hybrid of self-serve plus inbound sales, requiring go-to-market teams to create forms (Typeform), enrich new leads (Clearbit), qualify them (HubSpot), route & schedule meetings (Calendly), and start email sequences (Outreach), with Zapier to stitch it all together.</li><li>As budget for all these tools for automation has begun to exceed the cost of CRM itself, companies like Default (Craft Ventures, $11.3M raised), Calendly ($270M ARR), and Clay (Sequoia, $62M raised) have begun bundling scheduling with lead capture, enrichment, qualification, and routing into a unified revenue ops dashboard.</li><li>I might be wrong, but I think in the next 3 to 4 years, we're going to see a lot of the same solutions, either through hardcore R&D like ZoomInfo is doing or aggressive M&A like Clari's approach.</li></ul>

Pure product-led growth is giving way to a hybrid of self-serve plus inbound sales, requiring go-to-market teams to create forms (Typeform), enrich new leads (Clearbit), qualify them (HubSpot), route & schedule meetings (Calendly), and start email sequences (Outreach), with Zapier to stitch it all together.As budget for all these tools for automation has begun to exceed the cost of CRM itself, companies like Default (Craft Ventures, $11.3M raised), Calendly ($270M ARR), and Clay (Sequoia, $62M raised) have begun bundling scheduling with lead capture, enrichment, qualification, and routing into a unified revenue ops dashboard.I might be wrong, but I think in the next 3 to 4 years, we're going to see a lot of the same solutions, either through hardcore R&D like ZoomInfo is doing or aggressive M&A like Clari's approach.

Nico Ferreyra, CEO Of Default, On Building An end-to-end Inbound Sales Platform

<ul><li>Stan hit $27M annual recurring revenue (ARR) in March 2024, growing ~20% month-over-month every month in Q1'24 from $15M ARR at the end of 2023.</li><li>Stan found product-market fit with the education-focused creator segment—not professionals that sell $10,000+ courses on Kajabi & Thinkific (TSX: THNCF)—but the rapidly growing population of ~10,000 follower spirituality teachers, passive income gurus and social media coaches hanging out and monetizing their followings on Instagram and TikTok.</li><li>Word of mouth and referral on high engagement and high growth social platforms has Stan's growth accelerating as its revenue has scaled, mimicking the hypergrowth of link-in-bio startups like Linktree (40M+ users) but monetizing harder at the premium price point of $29/mo.</li></ul>

Stan hit $27M annual recurring revenue (ARR) in March 2024, growing ~20% month-over-month every month in Q1'24 from $15M ARR at the end of 2023.Stan found product-market fit with the education-focused creator segment—not professionals that sell $10,000+ courses on Kajabi & Thinkific (TSX: THNCF)—but the rapidly growing population of ~10,000 follower spirituality teachers, passive income gurus and social media coaches hanging out and monetizing their followings on Instagram and TikTok.Word of mouth and referral on high engagement and high growth social platforms has Stan's growth accelerating as its revenue has scaled, mimicking the hypergrowth of link-in-bio startups like Linktree (40M+ users) but monetizing harder at the premium price point of $29/mo.

<ul><li>Stan has been growing ~20% month-over-month every month in Q1'24 with high velocity even as revenue continues to scale.</li><li>Our customers generate more than 50% of their income on Stan by selling digital downloads.</li><li>13% churn means that we are going to turn over our entire user base over the year.</li></ul>

Stan has been growing ~20% month-over-month every month in Q1'24 with high velocity even as revenue continues to scale.Our customers generate more than 50% of their income on Stan by selling digital downloads.13% churn means that we are going to turn over our entire user base over the year.

Vitalii Dodonov, CTO Of Stan, On Building A creator-aligned store-in-bio

<ul><li>Stan hit $14.7M of annual recurring revenue (ARR) at the end of 2023, up 765% year-over-year, as store-in-bio replaced link-in-bio as the default home base of the online creator.</li><li>Stan grew revenue a whopping 765% in 2023 by giving affiliates 20% of all revenue generated from their links into perpetuity, seeding a cottage industry of TikTok Stan influencers.</li><li>Gross churn is high at 13% monthly and Stan is living with the continued risk of being banned by TikTok, which recently sunset its integration with Shopify and will reportedly ban Amazon links-in-bio next.</li></ul>

Stan hit $14.7M of annual recurring revenue (ARR) at the end of 2023, up 765% year-over-year, as store-in-bio replaced link-in-bio as the default home base of the online creator.Stan grew revenue a whopping 765% in 2023 by giving affiliates 20% of all revenue generated from their links into perpetuity, seeding a cottage industry of TikTok Stan influencers.Gross churn is high at 13% monthly and Stan is living with the continued risk of being banned by TikTok, which recently sunset its integration with Shopify and will reportedly ban Amazon links-in-bio next.

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PandaDoc At $100M ARR

TL;DR: Sacra estimates that PandaDoc hit $100M in annual recurring revenue (ARR) in August 2024, up 20% from $83M at the end of 2023, as they...

Sacra

Nico Ferreyra, CEO Of Default, On Building An end-to-end Inbound Sales Platform

What is Default and what inspired you to start the company...

Sacra

Stan: From $15M To $27M ARR In 3 Months

TL;DR: Stan hit $27M annual recurring revenue (ARR) in March 2024, growing ~20% month-over-month every month in Q1'24 from $15M ARR at the end of...

Sacra

Vitalii Dodonov, CTO Of Stan, On Building A creator-aligned store-in-bio

Spirituality coaches, passive income gurus, social media coaches, and more use Stan—it feels like an eclectic bunch. How do you talk about and...

Sacra

Stan: The $14.7M/year store-in-bio

TL;DR: Stan hit $14.7M of annual recurring revenue (ARR) at the end of 2023, up 765% year-over-year, as store-in-bio replaced link-in-bio as the...

Sacra

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