January 13, 2017 -
Bangalore-based biometric workforce tracking startup SecurAX has raised an undisclosed amount of funding from Axilor, Parampara Early Stage Opportunities Fund and an undisclosed group of angel investors, according to a report by The Tech Portal.
SecurAX is planning to use the funds to improve its technology offerings, expand its customer base, and ramp up its operations across India and the Middle East.
Currently, the company’s B2B SaaS biometric platform is being used by 75,000 end users across 125 customers.
The company said it has grown its SaaS user base 2.5 times in the last six months. This latest investment from Axilor Ventures and Parampara will help SecurAX scale operations.
“Cloud-based technologies are driving new business models,” said Srinath Batni, cofounder of Axilor Ventures. “SecurAX is well positioned to build on its leadership in the biometrics space and scale its SaaS offering, globally.”
Through biometrics, mobile app and geo tracking, SecurAX platform customers can track their workforce and improve productivity, while reducing costs.
The SaaS platform helps client companies to reduce physical-infrastructure investment, maintenance and software licensing costs, as well as lower operational costs through a pay-as-you-go pricing model.
Founded by S.D. Shibulal, Kris Gopalakrishnan, Srinath Batni, Professor Tarun Khanna and Ganapathy Venugopal, Axilor Ventures supports early stage entrepreneurs.