The Hindu Business Line : `Compliance tool market growing' — MetricStream to invest $20 m in India facility

METRICSTREAM Inc plans to invest $20 million in its software development facility and in sales and marketing efforts in the country in response to the growing market for compliance software.

"Our software platform enables companies to keep up with regulatory and other compliance requirements while reducing the cost of regulatory and process compliance two/three times," said Mr Gunjan Sinha, Chairman. "Since we offer customers a variety of payment options, we reduce the upfront costs of getting started and the end cost of compliance", Mr Sinha told Business Line.He added that the company was targeting Indian companies that were looking at the US and other Western markets. "There are over a 1,000 companies that will be needing to spend the $2,50,000 on compliance initiatives that we are focussed on," Mr Sinha said.

MetricStream, which has about 70 people in India, says it has invested $25-30 million so far in R&D and expects its India operations to drive R&D growth. Revenues have been doubling for the past three years , said Mr Sinha. The company has $100 million in VC funding and investors such as Kleiner Perkins, Cisco, Novell and Oracle.

"Indian companies are getting integrated into the global supply chain and they will have to meet their customers' requirements for compliance and since India does not have strong quality compliance infrastructure now, this is the time for the expansion,'' he feels.

Customers include Hitachi, Fairchild Semiconductors, BP, Solectron and Subway.

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