About Matrix
Matrix is a Business Services company based in Chennai (India) founded in 2003 by Gopalan Viswanathan, and was acquired by UDS in May 2019. Matrix is recognized as Indias largest business assurance company. It operates on a Professional Services and Managed Services model. Matrix has raised $15.86 million across 4 funding rounds from investors including UDS, Motilal Oswal Private Equity and ICICI Venture. The company has 1,436 employees. Matrix was last valued at $1.29 million in July 2008. Its chief executive is Medona David. Its Indian entity Matrix Business Services India Private Limited reported revenue of ₹129 Cr. Matrix offers products and services including Background Verification, Supply Chain Audits, and Rapid Verify. Its focus areas include Assurance Services and Risk Mitigation.
Company details
Matrix Business Services India Private Limited is established as Indias largest integrated business assurance company. Services are provided in areas such as background verification, supply chain audits, and fixed asset verification. The company operates across multiple sectors, focusing on risk mitigation for employees, vendors, and channel partners. Tech-enabled solutions like Rapid Verify are offered to enhance efficiency and transparency. Support is extended to back-end transaction processing and data mining, ensuring comprehensive business performance. Collaboration is maintained with clients for sustainable outcomes through a holistic 3P approach covering People, Product, and Process.
- Headquarters Chennai, India
- Employees 1,436
- Founders Gopalan Viswanathan
- Stage Minicorn
- SectorsBusiness Services
- Email••••••••
- Phone•••• ••••
- Website matrixbsindia.com
- Social LinkedIn Facebook YouTube
- Acquired by UDS (May 2019)
- Legal Name Matrix Business Services India Private Limited
- Date of Incorporation 29 Aug, 2003
- Jurisdiction Chennai, Tamil Nadu, India
Associated legal entities of Matrix
Matrix operates through Matrix Business Services India Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Matrix Business Services India Private Limited CIN U74140TN2003PTC051482 | Active | 29 Aug 2003 | Chennai, Tamil Nadu | ₹129 Cr | 1,436 | 7 | View details |
Products & Services of Matrix
Matrix offers a comprehensive portfolio of products and services, including Background Verification, Supply Chain Audits, and Rapid Verify.
Background checks are conducted for employee verification purposes.
Audits are performed to ensure supply chain integrity.
Tech solution is provided for rapid background checks.
Apps and channels of Matrix
its YouTube channel Matrix Business Services has 176 subscribers and 28 videos.
Videos from Matrix
The most watched videos on Matrix's YouTube channel, Matrix Business Services (176 subscribers). Click a video to play it here.
More on Matrix Business Services.
Funding Insights of Matrix
Matrix has successfully raised a total of $15.86M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $15 million completed in February 2017. 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 $15.86M
- Total Rounds 4
- Last Round Series A — $15M
- Investors Count 6
All 4 funding rounds of Matrix with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2017 | $15M | Series A | – | Motilal Oswal Private Equity | |
| Jul 2008 | $857,344 | Seed | $1.29M | Kotak Mahindra Investments | – |
| Jun 2008 | – | Seed | – | New Vernon Investment Management, ICICI Venture | – |
| Jun 2004 | – | Seed | – | New Vernon Investment Management, ICICI Venture | – |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2008 | $1.29M | •••••••• |
Last known valuation $1.29M (Jul 2008). 6 investors in total: 5 institutional and 1 angel.
Investors in Matrix
Matrix has secured backing from 6 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include UDS, Motilal Oswal Private Equity and ICICI Venture.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity investment firm focused on growth stage companies | 2006 | motilaloswalpe.com | Mumbai, India | |
Alternative asset management and investment services in India. | 1988 | iciciventure.com | Mumbai, India | |
Integrated business services are provided across diverse sectors in India. | 1985 | uds.in | Chennai, India | |
Offers lending to real estate developers and structured finance services. | 1996 | kmil.co.in | Mumbai, India | |
Operates as a hedge fund specializing in long/short investment strategies. | 1992 | newvernonfunds.com | Highland Park, United States | |
RT Raghunandana Tangirala | - | – | unknown_c6453cac351e4b52b | - |
Investor details for Matrix
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Verified entity values are shown only after access is granted.
Board of directors of Matrix Business Services India Private Limited (Matrix)
Matrix Business Services India Private Limited is the primary company behind Matrix. The board of Matrix Business Services India Private Limited currently have 6 directors; the longest-serving is Pondicherry Chidambaram Balasubramanian, appointed in 2006. 16 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Pondicherry Chidambaram Balasubramanian DIN 00584548 | Director | 22 Apr 2006 | 20 yrs 5 mo | Matrix Business Services India Private Limited |
| Raghunandana Tangirala DIN 00628914 | Director | 26 Apr 2019 | 7 yrs 5 mo | Matrix Business Services India Private Limited |
| Sangeeta Sumesh DIN 07080379 | Director | 24 Jun 2022 | 4 yrs 3 mo | Matrix Business Services India Private Limited |
| Muralidharan Madhavan Vellore DIN 01625720 | Director | 18 Aug 2022 | 4 yrs 1 mo | Matrix Business Services India Private Limited |
| Panchanathan Ravishankar DIN 10501551 | CEO | 28 Feb 2023 | 3 yrs 7 mo | Matrix Business Services India Private Limited |
| Snehashish Bhattacharjee DIN 00188864 | Additional Director | 28 Apr 2025 | 1 yr 5 mo | Matrix Business Services India Private Limited |
People of Matrix
32 people are tracked at Matrix (12 in leadership, 2 in board & advisors, 18 in team); the tracked headcount is 1,436.
| Name | Role | Group |
|---|---|---|
Gopalan Viswanathan | Co-Founder | Leadership |
| Managing Director | Leadership | |
Medona David | CEO | Leadership |
| CEO | Leadership | |
P C Balasubramanian | CEO & MD | Leadership |
Kamal Rathore | Assistant General Manager, Audit & Assurance, Noida | Leadership |
Violet Jenifer E | Assistant General Manager, Audit & Assurance, Chennai | Leadership |
P.P. Viswanathan | VP, Operations | Leadership |
Saroj K. Mishra | General Manager, Audit & Assurance, Noida | Leadership |
Kasiraman Venkatraman | General Manager, Business Development, Chennai | Leadership |
Srisha Kadambi | General Manager, Audit & Assurance, Bengaluru | Leadership |
Nithyavathi Sabapathy | Assistant General Manager | Leadership |
T. Raghunandana | Board Member | Board & advisors |
Madhavan Santhanam | Board Member | Board & advisors |
Harini Harikrishna | SVP, Operations, Audit & Assurance | Team |
T.N. Gayathri | SVP, Operations & Customer Relationship | Team |
Roopesh Surve | AVP, Audit & Assurance, Mumbai | Team |
Arokia Mary Noah | Manager Audit And Assurance | Team |
Tanmoy Majumder | Audit Executive | Team |
G. Mukund | SVP, Operations | Team |
12 more people are available in the full profile.
Complete people profiles for Matrix
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of Matrix
Figures of Matrix Business Services India Private Limited, the primary company behind Matrix, for FY 2025. Revenue was ₹129 Cr (+15% year on year). Net profit was ₹8.33 Cr (6% margin). EBITDA was ₹17.05 Cr (13% margin). Revenue has grown at a compounded annual rate of +7% over three years and +11% over five years.
- ₹129 CrRevenue · FY 2025 · +15% YoY
- ₹8.33 CrNet profit · 6% margin
- ₹17.05 CrEBITDA · 13% margin
- ₹38.4 LakhPaid-up capital
- 1,436Employees (provident fund records)
- +7%Revenue CAGR, 3 years
- +11%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Matrix Business Services India Private Limited are on its company page.
Detailed financial statements for Matrix
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Verified entity values are shown only after access is granted.
Timeline of Matrix
5 dated milestones of Matrix across 16 years, from founding to its latest funding, stage changes and deals.
- Founded Matrix is founded.
- Funding First funding round.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $15.0M.
- Exit Acquired by UDS.
Web traffic of Matrix
The website of Matrix (matrixbsindia.com) receives about 2.9K visits a month.
- Monthly visits2.9K
▲ 16.5% vs previous month
Websites whose visitors overlap most with Matrix. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
geniusconsultant.com | geniusconsultant.com | 100% | – | #278,200 | – |
simplyhired.co.in | simplyhired.co.in | 100% | – | #64,955 | – |
| sutrahr.com | 99% | 39.8K | #885,261 | View details | |
| factsuite.com | 82% | 7.1K | #3,087,355 | View details | |
| netrika.com | 76% | 10.1K | #2,066,548 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 10 similar websites and full traffic analytics for Matrix
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Verified entity values are shown only after access is granted.
Top companies in Governance, Risk & Compliance (GRC) Services
10 companies that operate in the same segment as Matrix (Governance, Risk & Compliance (GRC) Services), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Testing, inspection, and certification services are provided to industrial sectors. | 1996 | Barcelona, Catalonia, Spain | – | USD 643.16 K | 24 | |
Risk management and operational support services are delivered globally. | 2010 | Reston, Virginia, United States | – | – | 1,502 | |
Provider of natural gas, crude oil, and petroleum products exploration services | 1882 | Irving, Texas, United States | – | USD 323.9 B | 61,000 | |
Marsh is recognized as a global leader in insurance broking and risk management. | 1871 | New York, New York, United States | – | – | – | |
Shipping, food ingredients, and industrial technology services are provided. | 1929 | Helsinki, Finland | – | USD 551.17 M | 800 | |
Technology solutions are provided to credit unions for operational efficiency. | 2009 | St. Petersburg, Florida, United States | – | – | 2,448 | |
Compliance support and risk management services are provided. | 2015 | London, England, United Kingdom | – | – | – | |
Compliance evaluation and certification services are provided worldwide. | 1828 | Paris, France | – | USD 7.6 B | 84,250 | |
Compliance and risk management solutions are provided by Youverify. | 2017 | Lagos, Lagos State, Nigeria | USD 5 M | – | – | |
Engineering and environmental risk consulting services are provided. | 1989 | Frodsham, Cheshire, United Kingdom | USD 646.99 M | – | – |
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Related news about Matrix
Complete news archive for Matrix
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Frequently Asked Questions about Matrix
Matrix was founded in 2003 and raised its 1st funding round 1 year after it was founded.
Matrix is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Medona David is the current CEO of Matrix.
Matrix is a funded company, having raised a total of $15.86M across 4 funding rounds to date.
Matrix has 1,436 employees.
The primary company behind Matrix, Matrix Business Services India Private Limited, reported revenue of ₹129 Cr for FY 2025, up 15% year on year.
Matrix Business Services India Private Limited is established as Indias largest integrated business assurance company. Services are provided in areas such as background verification, supply chain audits, and fixed asset verification. The company operates across multiple sectors, focusing on risk mitigation for employees, vendors, and channel partners. Tech-enabled solutions like Rapid Verify are offered to enhance efficiency and transparency. Support is extended to back-end transaction processing and data mining, ensuring comprehensive business performance. Collaboration is maintained with clients for sustainable outcomes through a holistic 3P approach covering People, Product, and Process.
Matrix offers Background Verification, Supply Chain Audits, and Rapid Verify.
Matrix has 6 investors. Key investors include UDS, Motilal Oswal Private Equity, ICICI Venture, Kotak Mahindra Investments, and Raghunandana Tangirala.
The valuation of Matrix is $1.29M as of Jul 2008.
Matrix operates through Matrix Business Services India Private Limited.
Yes. Matrix was acquired by UDS in May 2019.