Private Markets, Angel and Secondary Investing, Sacra

Sacra

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 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>As human code review became bottleneck as GitHub Copilot (2022) drove a surge of AI-generated code, CodeRabbit launched in 2023 as a GitHub app that hooks into pull requests (“PRs”)—proposals to add changes to a codebase—runs automated code and security analysis alongside LLM-based reasoning, and posts inline comments, walkthroughs, and diagrams in the PR.</li><li>After scaling to $15M ARR & over 8,000 paying orgs bootstrapped, CodeRabbit raised $60M in its September 2025 Series B (Scale Venture Partners, CRV) at a $550M valuation for a 36.7x forward revenue multiple, with Sacra estimating that CodeRabbit hit $40M in April 2026, up 700% year-over-year.</li><li>With GitHub controlling the pull request surface for the majority of developers and already offering native AI code review inside Copilot, CodeRabbit’s dependence on GitHub for access to pull requests and commits leaves it exposed if GitHub keeps improving review quality and bundles a good-enough product into seats 4M+ orgs already buy.</li></ul>

As human code review became bottleneck as GitHub Copilot (2022) drove a surge of AI-generated code, CodeRabbit launched in 2023 as a GitHub app that hooks into pull requests (“PRs”)—proposals to add changes to a codebase—runs automated code and security analysis alongside LLM-based reasoning, and posts inline comments, walkthroughs, and diagrams in the PR.After scaling to $15M ARR & over 8,000 paying orgs bootstrapped, CodeRabbit raised $60M in its September 2025 Series B (Scale Venture Partners, CRV) at a $550M valuation for a 36.7x forward revenue multiple, with Sacra estimating that CodeRabbit hit $40M in April 2026, up 700% year-over-year.With GitHub controlling the pull request surface for the majority of developers and already offering native AI code review inside Copilot, CodeRabbit’s dependence on GitHub for access to pull requests and commits leaves it exposed if GitHub keeps improving review quality and bundles a good-enough product into seats 4M+ orgs already buy.

CodeRabbit

CodeRabbit Vs. GitHub