Blume Portfolio Company Mettl Acquired By Mercer
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We are pleased to share that Mettl, a Blume Fund I portfolio company, has entered into an agreement to be acquired by global consulting firm Mercer. Mettl was founded in 2010 by Ketan Kapoor and Tonmoy Shingal and is based out of Gurgaon, India (Delhi NCR).
It will be Mercer’s first acquisition in the talent assessment space. Mettl had built a world-class talent assessment platform, with multilingual capabilities and support and customers across 80 countries. Mercer is fully owned by Marsh and McLennan (NYSE: MMC)
The acquisition marks an important milestone in Blume’s journey as a growing fund house.
Mettl was one of Blume’s earliest Fund I investments in 2011
After a small Series A from Kalaari in 2012, Mettl didn’t raise again and crossed $10 million in Revenue and showed that India can build world-class product companies with great capital efficiency.
Mettl is now the largest cash exit in Blume’s short history and is what will be the beginning of many such stellar outcomes in Fund I and beyond.
With over 15x returns on our seed position and over 7x in aggregate capital (seed + Series A), this will likely be amongst our top decile outcomes when the book on Fund I is written.
Blume is incredibly proud of the founders and the team. Blume has always believed in India’s ability to build great product companies that cater to B2B needs and in backing founders and companies who can build for global markets. Mettl is a validation of this belief.
Mettl currently caters to around 2,000 businesses including SAP, Amazon, EY, Accenture and others. In the last two years, Mettl has seen rapid expansion and adoption in international markets such as the US, China, Mexico, Germany, Philippines, Nigeria, South Africa, Indonesia, Japan, and UAE.
This acquisition will help Mettl become a world-leader in talent assessments by leveraging Mercer’s global footprint and leadership position. “We can sustainably scale our presence and reach, helping companies avoid the cost of suboptimal hiring decisions amidst ongoing digital disruption,” said Ketan Kapoor, CEO, Mettl in a press release.
We wish Mettl and Mercer continued success and in building the world’s best platform in the assessments space.