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Private Market Intelligence SaaS Platform, Tracxn files for an IPO

Posted On: 2021-08-17 18:00:18 (Time Zone: UTC)


Bengaluru Headquartered, Private Market Intelligence Platform, Tracxn has filed it's Draft Red Herring Prospectus with the regulators for an Initial Public Offering. The Initial Public Offering is an Offer for Sale by Promoter and Investor Selling Shareholders.

As stated in the DRHP, the company operates on a SaaS based model and is amongst the leading global market intelligence providers for private company data and is a comprehensive B2B Information platform that identifies, tracks and analyses private market companies and startups on deal sourcing, deal diligence and more and has the largest global coverage in emerging technology sectors such as IoT, Artificial Intelligence, Virtual Reality, Robotics, Blockchain and EVs.

The seed to build Tracxn was sown in 2013 and was launched in 2015 by Computer Science IIT Grads, Neha Singh and Abhishek Goyal, first generation entrepreneurs, who both have had their stints as venture capitalists at Sequoia and Accel Partners respectively. The company now tracks over 1.4 million private companies and works with 855 subscription customers across 50 countries and its customers include private market investors - VC, PE funds and large Corporates.

In 2016 the Tracxn was recognized by Forbes as amongst the top 100 Analytics Startups. Its platform is based on technology and human analysts and offers hard to get information on private companies & startups such as profiles, funding rounds, capitalization tables, financials, valuation, team size, trends, competition mapping. It has built a web crawling and data engine that extracts the data across multiple languages and uploads it instantaneously via APIs. Besides regulatory filings across the globe it obtains information from websites, press releases, social media and events to identify and track private market company information. Organizations can simply plug the data or information that is already there to build cases for easy decision making.

Over 70% of the company's revenue comes from outside India - primarily EMEA and North America and is seen as the Bloomberg for Private Market Data as per sources aware of this development. The company ranks amongst the top 5 players globally and competes with to the likes of Pitchbook and Crunchbase.

It has a long standing customer profile which includes large and well known organizations including Fortune 500 companies. Additionally, some of the people who have invested in the company as angels are Ratan Tata, Ex Chairman, Tata Group, Nandan Nilekani, Founder - Infosys, Sachin & Binny Bansal, Founders - Flipkart, Neeraj Arora - Whatsapp and many more.

SaaS has seen a large number of IPOs in the US, but very few listed SaaS companies are listed in India. This will be among the first tech funded companies from Bangalore to file the DRHP and among the youngest companies to hit the market for IPO.

IIFL Securities Ltd is the sole lead who has been appointed as the Book Running Lead Managers to the Issue.


Source: Equity Bulls

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