Sequoia and Accel alumni’s analytics startup Tracxn has raised its Series A round of $3.5 Mn from Saif Partners. The startup which describes itself as the Gartner for startup information, currently has a team of 30 analysts which it plans to take it up to 150.
What It Does?
Today, understanding any space in the private market and connecting startups and investors is very inefficient. For instance, if an investor has a thesis around “Robotics” and wants to understand what plays exist in the market, which companies are innovating the each segment, none of the existing databases can solve this. To solve this, Tracxn will set up a dedicated Analyst for tracking this sector. He tracks all companies coming up in that sector, identifies the segments companies are innovating in and analyses the trends in what entrepreneurs are doing within Robotics.
So now, essentially an investor can get upto-speed on a sector like “Robotics” within just a couple of hours. The startup plans to bridge this information and connect gap.
Tracxn captures all digital footprints about startups and combines it with human curation to provide an information platform for private market investors and decision makers. Just like Gartner provides rich research for the IT sector, Tracxn is building a similar platform for the startup ecosystem.
“Our primary customers are VC, PE and Corp Dev. For instance if you want to look at sectors like “Smart Home”, “Sharing Economies” or “Industrial Robotics” for investment, M&A or strategic partnership purposes, we are probably the most comprehensive resource available today” said Neha Singh.
Its current clientele includes venture capitalists, private equity firms, and corporate development teams who use its data to spot investment, merger, and strategic partnership opportunities in different sectors. At present, it works with over 50 venture funds. The company further plans to target a wider range of clients, including consulting firms and universities.
While there are other data analytics tools that focus on startups, including Mattermark, Datafox, and CB Insights, Tracxn differentiates by focusing on helping clients understand the market first before they look at individual companies. While Crunchbase and AngelList have proprietary data (which they have open sourced) that’s entered by the startup founders and “followers” of the company, the rest of the systems have either used public API’s or crawling to build their database of startups from sources such as Crunchbase, AngelList and LinkedIn etc.
Tracxn was founded in 2013 by Accel alumni Abhishek Goyal and Neha Singh, who was an analyst at Sequoia. The startup had initially raised funding from Flipkart founders and few other angel investors.