Tracxn Technologies, the parent company of data intelligence platform Tracxn, has joined the Indian startup IPO rush. The company has filed its draft red herring prospectus for an initial public offering (IPO) through an offer for sale from existing investors and the promoters/founders of the company.
The IPO is a pure offer for sale (OFS) for 38.67 Mn shares by investors, with promoters and founders Neha Singh and Abhishek Goyal offering up 7.66 Mn shares for sale each.
Tracxn’s other major investors would also be looking to offload shares — Flipkart founders Binny Bansal and Sachin Bansal have offered to sell 1.26 Mn shares each, while Elevation Capital, Accel, and Sequoia Capital India would be offloading 10.98 Mn, 4.02 Mn, and 2.18 Mn shares, respectively. Elevation Capital, which holds a 20% stake in the company, will opt for an exit through a qualified IPO or strategic sale by the investment exit date of April 2022.
Other shareholders — Delhivery cofounder Sahil Barua, Trackify founder Deepak Singh Ahlawat, Kolluri Living Trust, Milliway Fund, Freshworks founder Girish Mathrubootham, NRJN Family Trust, Manoj Kumar Gandhi, WGG International, and Tracxn CFO Prashant Chandra — have also offered their shares for sale.
Founded in 2013 by former venture capitalists Singh and Goyal, Tracxn offers private company data, analysis and tracks emerging themes across industries and markets, and various other services through a subscription-based SaaS platform.
In FY 2021, the company generated INR 43.8 Cr revenue from its operations, which is 17% higher than 2020. While the company had incurred a loss of INR 5.3 Cr in FY21, losses declined 90% from the previous fiscal.
As of March 31, 2021, the SaaS platform claims to have scanned over 550 Mn web domains and profiled over 1.4 Mn entities across 1,805 feeds to generate data for its customers. It is focused on increasing the number of entities reviewed and profiled by its profiling engine, which it considers to be its biggest competitive edge.
In 2019, Traxcn raised INR 20.94 Cr in its series B funding and, in its most recent funding in October 2020, it raised INR 18 L from WGG International. Besides this, Accel, 3One4 Capital, Sequoia India, Prime Venture Partners, KB Investment, among others have backed the company. Ratan Tata, Freshworks’ Mathrubootham, Aarin Capital founding partner TV Mohandas Pai, Delhivery’s Barua are among the angels that have invested in Tracxn.
Here’s a look at the key people leading Tracxn as it ventures into the public market:
Neha Singh, Cofounder & CEO, Chairperson, Managing Director
Neha Singh has completed her bachelor’s and master’s degree in computer science and engineering from the Indian Institute of Technology, Bombay. She also has a master’s in business administration from the Leland Stanford Junior University.
Early into her career, she served as an associate with The Boston Consulting Group (India) and an investment analyst with Sequoia Capital India Advisors. Singh was a part of the ‘40 under 40’ list by Fortune India in 2018 and 2019, amongst various other recognitions awarded. For the fiscal of 2021, Singh received a remuneration of INR 75 L.
Abhishek Goyal, Cofounder, Vice Chairman, Executive Director
Abhishek Goyal completed his bachelor’s in computer science and engineering from the Indian Institute of Technology, Kanpur. Before launching Tracxn, he worked as a consultant with 3i Infotech and Erasmic Consulting. He has also worked with Amazon Development Centre (India), Yahoo Software Development India, Accel India Management, and Andale Information Technologies.
Goyal has been an angel investor in various startups, including Basis Vectors, Bobble AI Technologies, Eatlo and Joe Hukum. For the financial year 2021, he received a remuneration of INR 75 L.
Prashant Chandra, Chief Financial Officer
Prashant Chandra has been a part of Tracxn since 2013 and was appointed as the CFO in August 2021. He manages the financial and legal departments of the company. Chandra completed his bachelor’s in mechanical engineering from the Indian Institute of Technology, Kanpur and his post-graduate diploma in finance from the Indian Institute of Management, Lucknow.
Before his career at Tracxn, he worked with Infosys and Amdocs Development Centre India. In FY2021, he was paid a remuneration of INR 56 L.
Amit Agarwal, Chief Operating Officer
Amit Agarwal started his stint at Tracxn in 2017 and was appointed as the COO earlier this month. He takes care of the sales, customer success, analysis, human resources and data operations in the company. He graduated with a degree in information technology from Motilal Nehru National Institute of Technology, Allahabad. He completed his master’s in business management from the School of Business and Human Resources at XLRI Jamshedpur.
Before starting his journey in the company, Agarwal worked with Copal Amba as the associate vice president and Emanation Advisors as its managing director. He has also worked with Goldman Sachs as an analyst and Centrum Broking as an associate. The remuneration paid to him in fiscal year 2021 was INR 48.5L.
Neeraj Chopra, Chief Technology Officer
Neeraj Chopra has been a part of Tracxn since 2014 and is responsible for the company’s technology stack. He completed his graduation with honors in computer science from Hansraj College, Delhi University and his masters in computer applications from the University of Pune.
Before working with Tracxn, Chopra has worked with Amazon Development Center (India), Decho Technology India, Arcot R&D Software, and Roam Space Travel Solutions. For the fiscal of 2021, he received a remuneration of INR 55.5 L.
Bhaskar Sharma, Chief Product Officer
Bhaskar Sharma has been associated with Tracxn since 2015 and was appointed as the CPO earlier this month. He oversees the product and marketing departments in the company. Sharma pursued his bachelor’s degree in electrical engineering from the Indian Institute of Technology, Kharagpur and his post-graduation in management from the Indian School of Business.
Before Tracxn, he worked with companies such as CEAT, FlexAlgo Systems, and Nomura Structured Finance Services. Bhaskar was paid a remuneration of INR 47.5 L for the fiscal year 2021.
Megha Bohra, Company Secretary
Megha Bohra started her career at Tracxn in 2019 and was appointed as the CS in June this year. She holds a bachelor’s and master’s degree in commerce from Kolhan University, Jharkhand. She also has a master’s in business laws from the National Law School of India University, Bengaluru and is an associate member of the Institute of Company Secretaries of India.
Before Tracxn, she worked with companies such as Decision Point Consultancy, Betul Wind Farms, and Atria Hydel Power. She was paid a remuneration of INR 8.5 L.