About FirstMeridian
FirstMeridian is a company based in Bengaluru (India) founded in 2018 by Sudhakar Balakrishnan. FirstMeridian has raised $21.8 million across 3 funding rounds from investors including New Lane Trading, Seedthree Trading and Shalu Jain. The company has 151 employees as of April 05, 2024. FirstMeridian has completed 4 acquisitions, including Affluent GS, CBSI Global and Cornucopia. FirstMeridian offers products and services including DigiTrac, Infield, and FM Learn. FirstMeridian operates in a competitive market with competitors including ADP, Randstad, Alera Group, UKG and CIEL HR, among others.
- Headquarter Bengaluru, India
- Employees 151 as on 05 Apr, 2024
- Founders Sudhakar Balakrishnan
- Stage Minicorn
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Sectors
Business Services
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Email
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Phone
*********
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Website
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Social
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- Legal Name Firstmeridian Business Services Limited
- Date of Incorporation 20 Feb, 2018
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$436.1 M (USD)26.4as on Mar 31, 2023
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Net Profit
$9.74 M (USD)137.5as on Mar 31, 2023
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EBITDA
$12.15 M (USD)76.15as on Mar 31, 2023
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Total Equity Funding
$21.8 M (USD)
in 3 rounds
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Latest Funding Round
$15.91 M (USD), Series A
Apr 05, 2022
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Investors
New Lane Trading
& 94 more
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Employee Count
151
as on Apr 05, 2024
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Investments & Acquisitions
Affluent GS
& 3 more
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Products & Services of FirstMeridian
FirstMeridian offers a comprehensive portfolio of products and services, including DigiTrac, Infield, and FM Learn.
Mobile app for attendance tracking and employee self-service functions.
App for retail sales tracking and marketing management solutions.
Mobile-enabled platform for online skilling and development programs.
People of FirstMeridian
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Funding Insights of FirstMeridian
FirstMeridian has successfully raised a total of $21.8M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $15.91 million completed in April 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $15.9M
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First Round
First Round
(14 Jul 2018)
- Investors Count 95
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2022 | Amount | Series A - FirstMeridian | Valuation | New Lane Trading , Seedthree Trading | |
| Feb, 2022 | Amount | Series A - FirstMeridian | Valuation | Seedthree Trading |
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| Jul, 2018 | Amount | Series A - FirstMeridian | Valuation | New Lane Trading , Seedthree Trading |
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Investors in FirstMeridian
FirstMeridian has secured backing from 95 investors, including venture fund and angel investors. Prominent investors backing the company include New Lane Trading, Seedthree Trading and Shalu Jain.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Founded Year | Domain | Location | |
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Private equity firm focused on multiple sectors
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Founded Year | Domain | Location | |
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SJ
Shalu Jain |
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Founded Year | Domain | Location |
Investments & Acquisitions by FirstMeridian
FirstMeridian has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Affluent GS, CBSI Global and Cornucopia.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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AI services are provided by RLABS to various clients.
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2013 | ||||
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IT services including cloud, managed, mobility, and security are provided.
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2012 | ||||
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HR management services are provided to businesses in India.
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2004 |
Financial Statements - FirstMeridian
Firstmeridian Comparisons
Competitors of FirstMeridian
FirstMeridian operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as ADP, Randstad, Alera Group, UKG and CIEL HR, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based HR management solutions are offered for payroll and compliance.
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| domain | founded_year | HQ Location |
HR consulting, recruitment, and outsourcing services are offered worldwide.
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| domain | founded_year | HQ Location |
HR, insurance, and liability services are provided by Alera Group.
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| domain | founded_year | HQ Location |
Provider of HR and payroll & workforce management solutions
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| domain | founded_year | HQ Location |
HR management, recruitment, and staffing services are provided.
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| domain | founded_year | HQ Location |
HR and payroll outsourcing plus consulting services are provided.
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Frequently Asked Questions about FirstMeridian
FirstMeridian was founded in 2018.
FirstMeridian is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Sudhakar Balakrishnan is the current CEO of FirstMeridian. They have also founded this company.
FirstMeridian is a funded company, having raised a total of $21.8M across 3 funding rounds to date. The company's 1st funding round was a Series A of $5.15M, raised on Jul 14, 2018.
As of Apr 05, 2024, the latest employee count at FirstMeridian is 151.
Annual revenue of FirstMeridian is $436.1M as on Mar 31, 2023.
FirstMeridian was established in 2018 in Bengaluru, India, within the human resources sector. Recruitment and managed services are delivered by the company, encompassing the full employee lifecycle. Support is extended from initial hiring through to exit processes, with specific inclusions for payroll management and apprentice recruitment. Operations are centered in India, focusing on comprehensive HR solutions for various organizational needs.
FirstMeridian's top competitors include Randstad, CIEL HR and Alera Group.
FirstMeridian offers DigiTrac, Infield, and FM Learn.
FirstMeridian has made 4 acquisitions, including Affluent GS, CBSI Global, and Cornucopia.
FirstMeridian has 95 investors. Key investors include New Lane Trading, Seedthree Trading, Shalu Jain, Vinodh V, and Jatin Batla.
The valuation of FirstMeridian is $113.72M as of Feb 2022.