This ex IIT-Bombay topper has built the go-to guide for India’s start-up stars: Meet Neha Singh
While scouting for worthy business ideas to fund, IIT-Bombay’s star alum Neha Singh had to spend a huge amount of time sifting through data that wasn’t always available from one source, and her programming skills made her try an alternate route. She decided to develop a software program that would help her shortlist companies based on certain metrics, only to discover that she wasn’t the only one combining code with analysis. “Another analyst at Accel Partners had developed a similar program,” she says, describing how she found her co-founder and future husband, Abhishek Goyal, and how, together, they developed Tracxn, literally and figuratively.
Hailing from an academically oriented family, Singh has always been surrounded by super-achievers – and upped the ante when she herself studied computer science at IIT-Bombay, and graduated top of her class. She worked with Boston Consulting Group and Sequoia Capital. Highly clued into the world of investment analysis, the gap became apparent to her rather jarringly, and this dearth of information on potential investees led the duo to think about a Gartner-like analytics firm for the Indian market. “While working at Sequoia, I discovered that private market data is very inefficient. Sometimes for fairly basic details, we would end up spending two to three days. I knew that with a service like this, there was scope to create a major impact on the sector,” says Singh, elaborating on the intent behind founding Tracxn.
In 2013, Singh and Goyal pooled in their savings to begin operations from a tiny office on Sand Hill Road in Menlo Park. Post that, they hired two engineers and began creating a data platform where start-ups would take pride in getting listed. Tracxn focused on two areas to create this database — upcoming sectors and investable start-ups.
“The first year was a little tough, not taking a salary home and managing expenses,” admits Singh. But within a year they had secured substantial angel funding and soon counted marquee names like Sequoia, Accel, Matrix Partners and Nexus Venture Partners among their clients.
When the time came to scale up, Singh decided to move to India, choosing Bengaluru as their headquarters, with another office in the Bay Area. Today, Tracxn serves over 200 clients, with Tracxn Labs, the start-up turned incubator having reportedly secured $10 million in funding thus far.
“Our main aim now is to help investors and corporates track innovation more efficiently on a global scale,” she explains. Tracxn plans to expand coverage to Latin America, Israel, West Asia, Europe and East Asia and increase product offerings for each customer segment.