MetricStream to launch product-suite

MetricStream, a provider of compliance software solutions, will enter the Indian market with its products next year.

The company will target export-oriented industries in the country including ITeS, biotech and pharma verticals with its Quality and Compliance Application product suite.

The company so far has concentrated on the US market alone where Gunjan Sinha, chairman, MetricStream estimates the compliance market to be $600 billion strong. Though software comprises a very small part of it, $5 billion, Sinha expects it to grow with increasing outsourcing and offshoring of activities.

"Regulatory compliance, whether it is financial like the Sarbanes Oxley Act, environmental or employee-related, has taken on new significance following disasters like Enron and the increasing wave of offshoring. Our platform suite aids companies in ensuring compliance everywhere and also enables them to evolve with changing regulations," said Sinha.

Formed in 2000, MetricStream has itsR&D t activities in Bangalore. They have been recording revenues of around $10 million.

"Close to $100 million have been invested in the company since its formation. Investors include Kleiner Perkins, a US-based fund, and corporates including Oracle. We have not yet turned cash positive," said Sinha.