We are excited to share that Tracxn has completed its IPO – making it the first of 3one4 Capital’s portfolio companies to trade publicly.
Tracxn has grown exponentially and is now India’s largest analyst-backed research and intelligence platform for private markets globally. We are truly proud of its growth story and the astuteness with which founders Neha Singh and Abhishek Goyal navigated the company to become IPO-ready.
About the IPO
According to NSE, the ₹309 crore-IPO received bids for 4.27 crore shares against 2.12 crore shares on offer. The IPO featured 3,86,72,208 equity shares in the price range of ₹75-80 per share. It successfully closed its public issue with a 2.01-times subscription – qualified institutional and retail investors nudged the offer towards full subscription by putting in bids 1.6 times and 4.8 times their allocated quotas, respectively. The quota for non-institutional investors was subscribed by 80%. On the listing day, Tracxn’s stock showed continuous upward movement and rose to 24% (the offer-for-sale issue was priced at ₹ 80).
Tracxn is a category leader in market intelligence for private company data, ranking among the top 5 global companies. It offers information on private companies for deal sourcing, identifies mergers & acquisitions, and tracks industry & market trends. It also provides sector-specific intelligence & reports, and on-demand due diligence support for a diversified client base that includes VC/PE investors, and investment bankers.
It has created the largest information repository in India by tracking 1M+ companies across 1500 sectors. It also has the widest global coverage of private companies that include VR, fintech, blockchain, EV, AI, IoT, and robotics.
Behind Tracxn’s Success
Traxcn is a one-of-a-kind asset with no peers in India. Its success can be attributed to the extensive nature of its data and insight pool along with the absolute control it exerts on the information it makes available. The loop is closed tightly with 100% proprietary data and zero requirements for outsourcing or licensing. It is a robust tech platform with its own databases, people, systems, and processes.
As of early 2022, Tracxn had 3,271 users and 1,139 customer accounts in over 58 countries. Additionally, the platform has scanned over 550M web domains and has profiled 1.4M entities through 1,800 feeds – spread across geographies, industries, affiliates, and networks.
Tracxn is the only India-focussed research partner for over 850 investors, government bodies, and corporates. Its customer-first approach and trustworthiness have enabled it to become indispensable to 70+ Fortune 500 companies and 800 corporates, investors, and investment bankers. It has also scaled significantly with a 160% jump in revenue and ~75% increase in headcount from FY14 to FY20.
As early backers of Tracxn, we recognised that this market intelligence platform had the first-mover advantage in India. It took on the extremely rarified category of private market data and identified the need for rich and reliable information – the bedrock for good business decisions.
Neha Singh and Abhishek Goyal leveraged their own VC experience to evaluate the information/insight-deficit pain point among investors and created a robust, and differentiated asset with a scalable subscription model. After an exciting journey spanning seven years of creating great value across the globe, we believe that going public will be a force multiplier for Tracxn to scale further and succeed in more geographies.
We congratulate the founders on their inspiring stewardship of the company and look forward to this IPO setting an example for the next cycle of tech startups in India.