Neha Singh: The Architect Revolutionizing Private Market Intelligence with Tracxn
Explore Abhishek Goyal's journey: techie, investor, & Tracxn Co-founder. Learn how he's shaping global private market intelligence from India.
Neha Singh, the Co-founder and CEO of Tracxn Technologies, stands as a pivotal figure in transforming how investors and corporations navigate the complex world of private markets. Her journey, marked by sharp intellect and a drive to solve critical data gaps, led to the creation of a platform that is often dubbed the "Bloomberg for private equity." Tracxn has not only provided unprecedented transparency into the startup ecosystem but has also emerged as a global SaaS leader, built from India for the world.
Want to dive deeper into Neha Singh's insights on building Tracxn and her perspective on the private market landscape? Listen to her candid conversation on the Founder Thesis Podcast episode
Check out the video of the conversation here or read on for insights.
🚀 The Spark: From Investor Pain Point to Entrepreneurial Vision
Neha Singh's path to entrepreneurship was paved with firsthand experience of a significant industry challenge. An IIT Bombay gold medalist in Computer Science, her early career saw her at the Boston Consulting Group (BCG) and then as an Investment Analyst at Sequoia Capital. It was during her tenure at Sequoia, around 2010, that the seeds for Tracxn were sown.
"For me, the idea of Traction got born when I was investing. And I thought that if you look at public market investors, they have the luxury of having platforms like Bloomberg or a FactSet or a Capital IQ. While if you are a private market investor, when you're looking at different sectors, you literally have to build the whole stack yourself. So Traction was born by a need that I really wish that a platform like this existed when we were investors."
This "information asymmetry" in the private markets, where accessing reliable and comprehensive data on startups and emerging sectors was a laborious, manual process, became her mission to solve. She envisioned a technology-driven solution to bring efficiency and clarity to this opaque world.
🎓 Academic Prowess and Strategic Moves
Neha's strong academic foundation was crucial. She holds both a Bachelor of Technology (B.Tech) and a Master of Technology (M.Tech) in Computer Science from the Indian Institute of Technology (IIT) Bombay. Her technical skills were further complemented by strategic business acumen, honed at BCG and Sequoia.
Recognizing the global potential of her idea, Neha pursued an MBA at the Stanford Graduate School of Business (2012-2014), where she was a Reliance Dhirubai Ambani Fellow. This wasn't just an academic pursuit; it was a strategic move to launch Tracxn from Silicon Valley, the epicenter of technology and venture capital, and to begin building their customer base there. As she mentioned in the podcast, the initial idea was worked upon in 2012, and she, along with co-founder Abhishek Goyal, even got incubated in Lightspeed's U.S. office to refine their market entry strategy.
🌱 Founding Tracxn: "Make-in-India" for Global Impact
Tracxn Technologies was co-founded in 2013 by Neha Singh and Abhishek Goyal. The core mission: to build the largest platform tracking innovative startups, private companies, and emerging sectors globally.
From its inception, Tracxn was designed with global ambitions. A key aspect of their strategy has been the "Make-in-India" approach for global sales and operations. The company's data production, technology platform development, and global sales and support teams are predominantly based in India. This model provides significant cost advantages, enabling Tracxn to offer a comprehensive global service at a competitive price point.
The initial market entry strategy involved focusing on sector-based coverage. As Neha shared, they started with the U.S. market, working with funds and corporates.
"The first module that we actually started off with is basically a sector-based coverages... Some of the sectors that we started off with is actually cybersecurity. Coin, which was way back, a decade back. IOT was the other sector that we started off with."
They meticulously built landscapes of companies within these sectors, providing data on business models, competitive positioning, funding, and growth metrics. The initial pricing was around $5,000 a month, which later evolved to a more accessible $500 a month.
📊 Tracxn Today: A Global Private Market Intelligence Powerhouse
Under Neha Singh's leadership as CEO, Tracxn has grown into a formidable player in the global market intelligence landscape. Here are some key highlights and numbers:
Global Reach: Tracxn tracks millions of private companies worldwide. In the podcast, Neha mentioned their platform tracks over half a billion companies at the backend to identify emerging trends.
Comprehensive Data: The platform offers detailed information on funding rounds, investment activities, M&A transactions, investor profiles, key personnel, and in-depth sector-specific data. They cover nearly 2000 sectors.
Clientele: Tracxn serves a diverse clientele including venture capitalists, private equity firms, investment banks, M&A and innovation teams within Fortune 500 companies, government bodies, accelerators, incubators, and universities.
Technology Driven: Leveraging AI, machine learning, and big data analytics, Tracxn processes vast amounts of data to provide actionable insights. They employ a hybrid data collection and verification process, combining advanced technology with a robust two-layer human analyst verification.
Team Strength: Tracxn has built a significant team, including nearly 90 sector-focused analysts who develop deep expertise in the areas they cover.
Financial Performance: Tracxn became a publicly listed company on Indian exchanges in October 2022. Before its IPO, Tracxn raised approximately $17 million across several funding rounds. Key investors included Elevation Capital (formerly SAIF Partners), Accel, Prime Venture Partners, and KB Investment. For the fiscal year ending March 31, 2024 (FY24), Tracxn reported revenues from operations at ₹827.71 million. Notably, approximately 70% of its revenue in FY23 was derived from international markets, underscoring its global success.
Market Position: By early 2025 (as per the dossier), Tracxn was considered one of the top five global players in terms of private company data coverage.
💡 Neha Singh's Vision and Leadership Philosophy
Neha's vision extends beyond just building a successful company. She aims to empower users with data, enabling more informed decision-making. Her ambition, as stated in the dossier, is to build a "large iconic global data platform out of India."
Her leadership is characterized by a data-driven approach, a focus on scaling operations, building a resilient team, and aggressively expanding Tracxn's reach. She champions a collaborative work culture that encourages innovation and intellectual curiosity. The company culture emphasizes being "Meritocracy Driven, Candid," with "No Politics," and providing "High Paced Learning."
On the challenge of creating detailed sector taxonomies, Neha explained in the podcast:
"We literally want a person to do a PhD in one sector... when someone is looking at within FinTech payments, they are looking at payments companies globally and not just in one geography, so that they are also able to track any new themes which is coming up across any country even far off."
This commitment to depth and global coverage is a testament to her meticulous approach to building a world-class data intelligence product.
🔮 The Road Ahead for Tracxn
Tracxn continues to innovate, with plans to further integrate generative AI to enhance operational efficiency and develop personalized recommendation systems. The company aims to expand its platform offerings, grow its account base, and increase revenue share from existing customers.
Neha Singh's journey with Tracxn is a powerful example of how identifying a critical market need, coupled with technological prowess and strategic execution, can lead to the creation of a globally impactful venture. Her work continues to shape the landscape of private market intelligence, providing invaluable tools for the global startup and investment ecosystem.
Bloomberg is a global company that collects market data to assist businesses in making smart decisions. Likewise, Tracxn aids private markets in making decisions by providing well-curated profiles of startups and companies.
Tracxn is driven by a novel blend of human analysts and technology that mines billions of data to emerge as a leading data intelligence platform globally. The platform is also used by various Governments, Accelerators & Incubators, and Universities for tracking innovative companies and sectors.
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Until the next founder's thesis📕,
Your host, AD