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>Zipline is valued at $7.6 billion following a funding round of more than $600 million completed in January 2025.</li><li>The company operates two hardware platforms.</li><li>Platform 2's precision delivery capability enables access to markets that were previously impractical to serve with parachute drops.</li></ul>

Zipline is valued at $7.6 billion following a funding round of more than $600 million completed in January 2025.The company operates two hardware platforms.Platform 2's precision delivery capability enables access to markets that were previously impractical to serve with parachute drops.

<ul><li>Convoy&#39;s revenue peaked at $750M in 2021, growing 50% annually.</li><li>After unsuccessful attempts to raise money or sell the company over a four-month period, Convoy ultimately ran out of funds and shut down operations in 2023.</li><li>Following Convoy&#39;s 2023 shutdown, DAT Freight &amp; Analytics acquired the Convoy Platform (July 2025) and continues operating it as a neutral freight marketplace.</li></ul>

Convoy&#39;s revenue peaked at $750M in 2021, growing 50% annually.After unsuccessful attempts to raise money or sell the company over a four-month period, Convoy ultimately ran out of funds and shut down operations in 2023.Following Convoy&#39;s 2023 shutdown, DAT Freight &amp; Analytics acquired the Convoy Platform (July 2025) and continues operating it as a neutral freight marketplace.

<ul><li>Sacra estimates that Flexport generated $2.1 billion in revenue in 2024, up 30% from $1.6 billion in 2023.</li><li>Flexport missed its profitability target for the end of 2024.</li><li>Flexport was valued at approximately $3.8 billion as of late 2024, based on Shopify's 17% stake in the company, representing a 0.55x revenue multiple.</li></ul>

Sacra estimates that Flexport generated $2.1 billion in revenue in 2024, up 30% from $1.6 billion in 2023.Flexport missed its profitability target for the end of 2024.Flexport was valued at approximately $3.8 billion as of late 2024, based on Shopify's 17% stake in the company, representing a 0.55x revenue multiple.

<ul><li>FourKites has raised approximately $292 million across multiple funding rounds.</li><li>FourKites achieved product-market fit with large enterprise shippers in the consumer packaged goods and food & beverage industries.</li><li>FourKites can capture a larger share of enterprise technology budgets.</li></ul>

FourKites has raised approximately $292 million across multiple funding rounds.FourKites achieved product-market fit with large enterprise shippers in the consumer packaged goods and food & beverage industries.FourKites can capture a larger share of enterprise technology budgets.

<ul><li>Manna is valued at over $150 million following a $30 million funding round in March 2025 led by Molten Ventures and Tapestry VC.</li><li>Manna operates autonomous drone delivery services using custom-built eight-motor electric aircraft designed to deliver items in suburban neighborhoods.</li><li>The company aims to expand its service area from 150,000 people in Dublin to over 1 million residents by the end of the year.</li></ul>

Manna is valued at over $150 million following a $30 million funding round in March 2025 led by Molten Ventures and Tapestry VC.Manna operates autonomous drone delivery services using custom-built eight-motor electric aircraft designed to deliver items in suburban neighborhoods.The company aims to expand its service area from 150,000 people in Dublin to over 1 million residents by the end of the year.

Canada

Autonomous drone network for delivering physical goods

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Zipline (ZIPLINE CA)

Primer: Zipline - 24 Aug 2026

Autonomous drone network for delivering physical goods

Sacra

Primer: Convoy - 15 Jun 2026

Marketplace connecting shippers with truckers for real-time freight booking and tracking

Sacra

Primer: Flexport - 06 Apr 2026

Dashboard and freight forwarding service for global shippers and ecommerce brands

Sacra

Primer: FourKites - 14 Dec 2025

Dashboard for real-time shipment tracking and supply chain visibility across transportation modes

Sacra

Primer: Manna - 07 Dec 2025

Drone delivery service enabling rapid, autonomous delivery of goods including food, groceries, and medicines

Sacra

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