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 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>From Feb to June 2022, Bardeen grew its monthly active user base by 4x to more than 20,000.</li><li>Bardeen is going after the same slice of potential users—focusing on sales development representatives, biz dev specialists, people in marketing roles, and other relatively low-level folks in organizations, aiming to help them automate their workflows—and they’re doing so with a similar SEO strategy.</li><li>The main challenge for Bardeen in successfully turning this into a cheap method of organic user acquisition as it was for Zapier will be that Zapier started doing it when there wasn’t much competition—today, the search engine results pages for terms like “sheets airtable integration” are extremely competitive, and Bardeen doesn’t appear until the 2nd or 3rd page for many of their core integrations that they advertise on their site.</li></ul>

From Feb to June 2022, Bardeen grew its monthly active user base by 4x to more than 20,000.Bardeen is going after the same slice of potential users—focusing on sales development representatives, biz dev specialists, people in marketing roles, and other relatively low-level folks in organizations, aiming to help them automate their workflows—and they’re doing so with a similar SEO strategy.The main challenge for Bardeen in successfully turning this into a cheap method of organic user acquisition as it was for Zapier will be that Zapier started doing it when there wasn’t much competition—today, the search engine results pages for terms like “sheets airtable integration” are extremely competitive, and Bardeen doesn’t appear until the 2nd or 3rd page for many of their core integrations that they advertise on their site.

<ul><li>The first piece is there&#39;s a lot more B2B SaaS out there. The amount has exponentially grown year over year.</li><li>We&#39;re now seeing the same thing happen in customer-facing integrations, where this whole idea of should we build in-house or should we outsource is becoming a lot more about which outsourced tools we should use, not should we build it ourselves.</li><li>The long-term vision for Vessel is that when you go to build your first customer-facing integration, it&#39;s not about, &quot;Well, let me go pull up the Salesforce docs and figure out how to do that.&quot;</li></ul>

The first piece is there&#39;s a lot more B2B SaaS out there. The amount has exponentially grown year over year.We&#39;re now seeing the same thing happen in customer-facing integrations, where this whole idea of should we build in-house or should we outsource is becoming a lot more about which outsourced tools we should use, not should we build it ourselves.The long-term vision for Vessel is that when you go to build your first customer-facing integration, it&#39;s not about, &quot;Well, let me go pull up the Salesforce docs and figure out how to do that.&quot;

Zachary Kirby, co-founder Of Vessel, On Building The Vercel For Integrations

Alloy Automation / Private Capital Markets

<ul><li>Along with the explosion of vertical SaaS companies, we’ve seen that people building those integrations in-house are slowly starting to realize it's becoming unmanageable.</li><li>Ultimately, long-term and currently, a lot of ETL tools and iPaaS tools are jointly educating the market on what our differences are and why we shouldn't be bucketed together.</li><li>AI and LLMs decreasing the barrier to entry is going to create so much more software for super niche use cases.</li></ul>

Along with the explosion of vertical SaaS companies, we’ve seen that people building those integrations in-house are slowly starting to realize it's becoming unmanageable.Ultimately, long-term and currently, a lot of ETL tools and iPaaS tools are jointly educating the market on what our differences are and why we shouldn't be bucketed together.AI and LLMs decreasing the barrier to entry is going to create so much more software for super niche use cases.

Sara Du, co-founder And CEO Of Alloy, On iPaas Vs. Universal APIs

<ul><li>Sacra estimates Tray.io hit $70M in annual recurring revenue (ARR) in 2023, up approximately 40% year-over-year from $50M ARR in 2021, and up from just $500K ARR in 2018.</li><li>Tray.io is a subscription SaaS company that offers a low-code automation platform for enterprises, with pricing based on a combination of user seats and usage volume.</li><li>The company has the opportunity to grow and expand into adjacent markets like AI-powered process optimization, advanced data analytics, and enterprise-wide workflow management.</li></ul>

Sacra estimates Tray.io hit $70M in annual recurring revenue (ARR) in 2023, up approximately 40% year-over-year from $50M ARR in 2021, and up from just $500K ARR in 2018.Tray.io is a subscription SaaS company that offers a low-code automation platform for enterprises, with pricing based on a combination of user seats and usage volume.The company has the opportunity to grow and expand into adjacent markets like AI-powered process optimization, advanced data analytics, and enterprise-wide workflow management.

United States

Automation tool for connecting and triggering actions across thousands of SaaS apps

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Zapier (ZAPIER US)

Primer: Kissflow - 06 Oct 2023

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

Sacra

Primer: Bardeen - 28 Sep 2023

Browser-based automation tool for GTM teams to run AI-powered workflow playbooks

Sacra

Zachary Kirby, co-founder Of Vessel, On Building The Vercel For Integrations

You're a B2B SaaS company in 2023. How do you build integrations and how has that process changed over the last 5 years? What will it look like...

Sacra

Sara Du, co-founder And CEO Of Alloy, On iPaas Vs. Universal APIs

You're a B2B SaaS company in 2023. How do you build integrations and how has that process changed over the last 5 years? What will it look like...

Sacra

Primer: Tray.io - 24 Jul 2023

Low-code tool for automating workflows and integrating SaaS apps via drag-and-drop builder

Sacra

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