Bangalore-based SecurAX, a cloud-based biometric workforce tracking solutions provider, has reportedly raised an undisclosed amount of funding from Axilor, Parampara Early Stage Opportunities Fund and a cluster of angel investors.
Founded in 2012 by Prasanna Kotha, Deepak N Belavadi and Praveen Gongireddy, SecurAX is a Business-to-Business (B2B) Software-as a-Service (SaaS) based platform. It aims to eliminate fixed costs and reduce operational over heads with pay-as-you-go pricing model, and its cloud-based solutions.
The raised capital will be utilised to enhance technology offerings, expand customer base and scale up its operations across India and the Middle East. “The SecurAX platform is being used by 75,000 users across 125 customers. We have grown our SaaS user base 2.5 times in the last six months,“ said Deepak Belavadi, cofounder, SecurAX. She further added, “The investment from Axilor Ventures and Parampara will help us scale operations.“
“Cloud-based technologies are driving new business models. SecurAX is well positioned to build on its leadership in the biometrics space and scale its SaaS offering, globally,“ said Srinath Batni, cofounder of Axilor Ventures. Axilor, whose programmes include an accelerator, scale-up and early-stage funding, counts Senapathy “Kris“ Gopalakrishnan and SD Shibulal of Infosys among its founders.
Other startups working in this segment include Corseco Technologies and Securens Systems, and others.