About Matrix
Matrix is a company based in Chennai (India) founded in 2003 by Gopalan Viswanathan was acquired by UDS in May 2019. It operates as a Professional Services, and Managed Services. 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 as of April 09, 2024. Matrix offers products and services including Background Verification, Supply Chain Audits, and Rapid Verify.
- Headquarter Chennai, India
- Employees 1436 as on 09 Apr, 2024
- Founders Gopalan Viswanathan
- 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
*********
- Legal Name Matrix Business Services India Private Limited
- Jurisdiction Chennai, Tamil Nadu, India
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Annual Revenue
$15.05 M (USD)18.89as on Mar 31, 2023
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Net Profit
$2.53 M (USD)5.32as on Mar 31, 2023
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EBITDA
$3.92 M (USD)15.43as on Mar 31, 2023
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Total Equity Funding
$15.86 M (USD)
in 4 rounds
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Latest Funding Round
$15 M (USD), Series A
Feb 01, 2017
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Investors
UDS
& 5 more
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Employee Count
1436
as on Apr 09, 2024
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Acquired by
UDS
(May 01, 2019)
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Products & Services of Matrix
Matrix offers a comprehensive portfolio of products and services, including Background Verification, Supply Chain Audits, and Rapid Verify. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Background checks are conducted for employee verification purposes.
Audits are performed to ensure supply chain integrity.
Tech solution is provided for rapid background checks.
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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 Total Funding
- Total Rounds 4
- Last Round Series A — $15.0M
- First Round First Round
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2017 | Amount | Series A - Matrix | Valuation | Motilal Oswal Private Equity | |
| Jul, 2008 | Amount | Seed - Matrix | Valuation | Kotak Mahindra Investments |
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| Jun, 2008 | Amount | Seed - Matrix | Valuation | New Vernon Investment Management , ICICI Venture |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity investment firm focused on growth stage companies
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Founded Year | Domain | Location | |
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Alternative asset management and investment services in India.
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Founded Year | Domain | Location | |
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Integrated business services are provided across diverse sectors in India.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Matrix
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Matrix
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Matrix Comparisons
Competitors of Matrix
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Matrix
Frequently Asked Questions about Matrix
When was Matrix founded?
Matrix was founded in 2003 and raised its 1st funding round 1 year after it was founded.
Where is Matrix located?
Matrix is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Who is the current CEO of Matrix?
Medona David is the current CEO of Matrix.
Is Matrix a funded company?
Matrix is a funded company, having raised a total of $15.86M across 4 funding rounds to date.
How many employees does Matrix have?
As of Apr 09, 2024, the latest employee count at Matrix is 1,436.
What is the annual revenue of Matrix?
Annual revenue of Matrix is $15.05M as on Mar 31, 2023.
What does Matrix do?
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.
What products or services does Matrix offer?
Matrix offers Background Verification, Supply Chain Audits, and Rapid Verify.
Who are Matrix's investors?
Matrix has 6 investors. Key investors include UDS, Motilal Oswal Private Equity, ICICI Venture, Kotak Mahindra Investments, and Raghunandana Tangirala.
What is Matrix's valuation?
The valuation of Matrix is $1.29M as of Jul 2008.
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