Similar to most Indian SaaS companies, the majority (70 percent) of Tracxn’s revenue comes from international markets but this has not affected the company’s plan to list in Indian markets.

Tracxn submitted a draft document to SEBI for an IPO in August 2021. It is a market intelligence platform that identifies, tracks and analyzes private market firms and startups regarding deal sourcing, due diligence, and more.

Commenting on the decision to list in India, co-founder Abhishek Goyal said business lineWe believe that Indian-born companies should go public in India, so that we can create local wealth. We have always believed that the Indian market would like SaaS companies that have high gross margins. “It was a financial decision for us,” said co-founder Abhishek Goyal. As much as it was an emotional decision.”

Furthermore, co-founder Neha Singh said the company’s decision to go public was influenced by various reasons such as the company’s organic growth as its data got richer throughout the year, the fact that Tracxn has turned cash flow positive and claims to be close to turning the bottom line. Also positive.

Read also: Chennai is rapidly establishing itself as India’s SaaS hub: EY White Paper

So I think the company’s growth has become healthy, in the sense that we’ve been adding money to the treasury. We didn’t use all the venture capital we had. In fact, the last rounds we collected are still in the bank, after which we also started adding money to the treasury. Singh added that all these reasons prompted us to take a step towards the IPO.

She also noted that the number of unicorns made in 2010 was only one globally and today the world has reached nearly 300 runs per year. This means that there is only a 300-fold increase in this activity, and there are many other instances such as the combined assessment of global rhinos totaling over $3 trillion. “These examples show that the market is actually becoming very large and it is only increasing in one way. So we think we are in a very interesting phase and that is why the IPO makes sense because it just allows you to continue to build this next decade,” Singh added.

Tracxn claims to have 70 percent of international customers and 30 percent of customers from India. These clients are said to come from different countries such as North American countries, parts of Europe, UK, Germany, Asia Pacific, etc.

There are mostly three groups of Tracxn clients including private market investors who make up nearly half of its client base and the other half are corporations along with some smaller client segments such as governments and universities. The company relies on the subscription model of the platform for its revenue.

Speaking about the competition, Singh said that in the whole kind of private market data space globally, there are only four or five players out there in that market, so we’re in a fairly good position. She added that as a data company, much of the company’s awareness also happens through its content. For example, companies or investors looking for semiconductor or self-driving car technology reports will come across company content and end up becoming paying customers.

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