Bouncing back

However, by 2006 the companys growth momentum was back on track. It reported Rs.18 crore
revenue with Rs.5-6 crore of profit. The valuation stood at Rs.200 crore.
It raised Rs.15 crore from Bennett, Coleman & Company Ltd (BCCL) in 2007.
The company however soon suffered another jolt in 2008 when the global financial crisis erupted
with the collapse of Lehman Brothers.
Exports dropped and the companys revenue started to stagnate all over again. We thus decided
to raise money and concentrate on domestic B2B (business-to-business) market, said Agarwal.
It raised Rs.50 crore from global venture capital firm Intel Capital in 2009.
For the financial year 2010, it reported revenue of Rs.50 crore.
In 2010-11 it started a massive expansion effort across the country. It opened 52 sales offices in
52 weeks. From 300,000 listings in 2010, it grew to 2 million in 2012.
Sensing a big opportunity in the consumer space, the company also launched an online retail
marketplace, Tolexo.com, in June 2014.
Agarwals brother Brijesh Agarwal spearheads Tolexo. A management graduate from the
University of Lucknow, with a masters in business administration from the National Institute of
Integrated Learning and Management (NIILM), Brijesh started his career as a supply chain
consultant at Miebach Logistics GmbH, Bangalore.
Overall, Indiamart reported revenue of Rs.200 crore with around Rs.25 crore cash positive in
2014.
In March 2016, the company raised an undisclosed amount in Series C funding led by Amadeus
Capital. Westbridge, UK-based Quona Capital and existing investor Intel Capital too participated
in the round. The size of the round was estimated at Rs.130-140 crore.