In today’s briefing:
- Primer: Clipto – 01 Sep 2026
- Primer: Cosuno – 01 Sep 2026
- Primer: Fingerprint – 01 Sep 2026
- Primer: HiBob – 01 Sep 2026
- Primer: Shovels – 01 Sep 2026
- Primer: Wafer – 01 Sep 2026
- Ramp For Europe Vs. Ramp
Primer: Clipto – 01 Sep 2026
- Sacra estimates that Clipto hit $15M in annual recurring revenue (ARR) in January 2026.
- On August 31, 2026, Clipto closed a $15M all-equity round at a $250M post-money valuation.
- Clipto’s largest TAM expansion is the shift from point-solution transcription to a multimodal memory system spanning video, audio, images, documents, and meetings.
Primer: Cosuno – 01 Sep 2026
- Sacra estimates that Cosuno hit $23.2M in annual recurring revenue (ARR) in August 2026, up from $15.2M at the end of 2025.
- ARR grew from $4.4M at the end of 2023 to $6.8M at the end of 2024, then accelerated to $15.2M at the end of 2025.
- Cosuno remained loss-making in 2024 but cut its net loss by roughly 56% year over year as revenue grew 56%.
Primer: Fingerprint – 01 Sep 2026
- Sacra estimates that Fingerprint hit $50M in annual recurring revenue (ARR) in August 2026.
- Fingerprint raised a $33 million Series C in October 2023 led by Nexus Venture Partners.
- Fingerprint serves more than 6,000 companies, identifies over 7 billion unique browsers and mobile devices annually, and processes more than 80 million real-time device-intelligence API events per day.
Primer: HiBob – 01 Sep 2026
- Sacra estimates that HiBob reached $250M in annual recurring revenue (ARR) in 2025, up 47% from $170M in 2024.
- On September 1, 2026, HiBob announced a $166M financing led by Salesforce and disclosed more than 5,500 customers, up from approximately 5,000 in late 2025.
- HiBob targets the gap between lightweight SMB HR tools and heavyweight enterprise suites, focusing on multinational midsized companies that need global configuration without Workday-class cost and complexity.
Primer: Shovels – 01 Sep 2026
- Sacra estimates that Shovels hit $3M in annual recurring revenue (ARR) in August 2026, up from $1.5M at the end of 2025.
- Shovels raised a $5M seed round led by Base10 Partners in June 2025, bringing total reported funding to $6.5M.
- Shovels standardizes fragmented local-government records covering building permits, contractors, properties, and local development decisions across the United States.
Primer: Wafer – 01 Sep 2026
- Sacra estimates that Wafer hit $8M in annualized revenue in August 2026.
- Wafer raised a $40M Series A co-led by Marathon Management Partners and Chemistry at a valuation above $200M, announced on September 1, 2026.
- Wafer’s optimization software is designed to extract more usable tokens from each GPU-hour than a generic serving configuration.
Ramp For Europe Vs. Ramp
- Launched in Denmark in 2015, Pleo expanded across 16 European markets and the U.S. to become one of Europe’s leading spend-management players.
- Expanding from Denmark into the UK (2017) and Sweden & Germany (2019), Spain & Ireland (2020) and then eight more European markets in 2022 including France, Finland & the Netherlands, Sacra estimates Pleo’s revenue hit ~$150M in 2025, up 33% YoY from $113M in 2024, valued at $1.62B as of February 2025 for a ~14x revenue multiple.
- Now in sixteen European countries, Pleo’s early lead is being contested by localized spend-management companies Spendesk (France, 2016), Payhawk (Bulgaria, 2018) & Moss (Germany, 2019) just as the big U.S. players move in.
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