About MeritTrac
MeritTrac is a company based in Bengaluru (India) founded in 2000 by Madan Padaki was acquired by Manipal Group in May 2007.. MeritTrac has raised $7.67 million across 2 funding rounds from investors including Manipal Group. The company has 164 employees as of April 07, 2024. MeritTrac offers products and services including TalentNext, MeritTrac Pariksha, Remote Proctoring, and SpeechTrac. MeritTrac operates in a competitive market with competitors including Cappfinity, Aspiring Minds, TestGorilla, Mikiwame and The Selection Lab, among others.
- Headquarter Bengaluru, India
- Employees 164 as on 07 Apr, 2024
- Founders Madan Padaki
- Stage Minicorn
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Sectors
Technology
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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 Merittrac Services Private Limited
- Date of Incorporation 04 Aug, 2000
- Jurisdiction Bengaluru, Karnataka, India
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Annual Revenue
$10.21 M (USD)20.14as on Mar 31, 2023
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Net Profit
$-3.51 M (USD)-34.16as on Mar 31, 2023
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EBITDA
$-2.35 M (USD)-80.85as on Mar 31, 2023
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Total Equity Funding
$7.67 M (USD)
in 2 rounds
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Latest Funding Round
$4.06 M (USD), Series A
May 25, 2007
- Investors
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Employee Count
164
as on Apr 07, 2024
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Acquired by
Manipal Group
(May 29, 2007)
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Products & Services of MeritTrac
MeritTrac offers a comprehensive portfolio of products and services, including TalentNext, MeritTrac Pariksha, Remote Proctoring, and SpeechTrac. 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.
Software for streamlining recruitment and talent acquisition processes
System for online exams, proctoring, and digital evaluations
AI-driven tool for secure remote assessment monitoring
Platform for evaluating communication and behavioral skills
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Funding Insights of MeritTrac
MeritTrac has successfully raised a total of $7.67M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $4.06 million completed in May 2007. 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 2
- Last Round Series A — $4.1M
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First Round
First Round
(18 Nov 2005)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2007 | Amount | Series A - MeritTrac | Valuation |
investors |
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| Nov, 2005 | Amount | Series A - MeritTrac | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 MeritTrac
MeritTrac has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Manipal Group. 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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Education, healthcare, insurance, and research services are provided globally.
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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 MeritTrac
| 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 - MeritTrac
| 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 |
Merittrac Comparisons
Competitors of MeritTrac
MeritTrac 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 Cappfinity, Aspiring Minds, TestGorilla, Mikiwame and The Selection Lab, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cappfinity is recognized as a leader in talent acquisition and management solutions.
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| domain | founded_year | HQ Location |
AI-based assessments for enterprise candidate skills are provided.
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| domain | founded_year | HQ Location |
Cloud-based software for pre-employment testing and recruitment automation is offered.
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Cloud-based aptitude and personality test platform for enterprises
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| domain | founded_year | HQ Location |
Enterprise recruitment is managed via software with analytics and assessments.
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| Company Name | Domain | Founded year | HQ Location | Description |
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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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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 Merittrac
Frequently Asked Questions about MeritTrac
When was MeritTrac founded?
MeritTrac was founded in 2000 and raised its 1st funding round 5 years after it was founded.
Where is MeritTrac located?
MeritTrac is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of MeritTrac?
Sujatha Kumaraswamy. is the current CEO of MeritTrac.
Is MeritTrac a funded company?
MeritTrac is a funded company, having raised a total of $7.67M across 2 funding rounds to date. The company's 1st funding round was a Series A of $3.6M, raised on Nov 18, 2005.
How many employees does MeritTrac have?
As of Apr 07, 2024, the latest employee count at MeritTrac is 164.
What is the annual revenue of MeritTrac?
Annual revenue of MeritTrac is $10.21M as on Mar 31, 2023.
What does MeritTrac do?
MeritTrac was founded in 2000 and is based in Bengaluru, India. Operations focus on the assessment sector, where services are extended to enterprises for talent acquisition and skills development through recruitment tools, psychometric tests, and evaluations. Educational institutions receive examination management, remote proctoring, and digital platforms. AI-driven systems are employed to handle secure delivery, spanning test design, execution, reporting, and analytics across the lifecycle.
Who are the top competitors of MeritTrac?
MeritTrac's top competitors include Cappfinity, Mikiwame and TestGorilla.
What products or services does MeritTrac offer?
MeritTrac offers TalentNext, MeritTrac Pariksha, Remote Proctoring, and SpeechTrac.
Who are MeritTrac's investors?
MeritTrac has 1 investor. Key investors include Manipal Group.
What is MeritTrac's valuation?
The valuation of MeritTrac is $8.52M as of May 2007.
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