Invixium announces software upgrade and new distributors as investor McRock increases stake
Invixium has launched a major software upgrade, including biometric face de-duplication, and announced a pair of new distribution deals, as well as further investment from McRock Capital, which makes it the company’s largest shareholder.
The new IXM Web 2.0 enterprise management software platform features a new user interface designed to provide an innovative approach to biometric device and user monitoring and management, with data-driven dashboards for fast and accurate system reporting. Along with face de-duplication, role management, email alerts, fire zones, and encrypted data transfer using AES 128 have been added to version 2.0, along with a new module called IXM Time, which allows SMBs and enterprises to use accurate analytics for workforce management and eliminating manual time tracking processes, according to one blog post in a series announcing the moves.
IXM Web 2.0 is backwards-compatible with all Invixium biometric products.
“The user experience on IXM WEB 2.0 is stunning,” says Shiraz Kapadia, CEO and President of Invixium. “The release of IXM TITAN marks the completion of our product portfolio. We are now primed for a pivot to focus on enhancing our software to complement our biometric products, from a design and functionality perspective and we believe that IXM WEB 2.0 is the best version that we’ve ever created. We are thrilled that our world-class biometric solutions will now allow businesses to digitally transform the tracking of their workforce by replacing manual, slow and inaccurate processes prone to error and fraud.”
The increased ownership stake taken by McRock comes as part of the company’s Series B financing, which also includes an investment from Connecticut Innovations. BDC Capital also participated in the new funding round.
“The hourly-paid labor force represents a significant business cost and the methods for hourly workforce management are ripe for a more accurate digital IoT solution,” said Scott MacDonald, co-founder and Managing Partner of McRock Capital. “We see massive potential for this Canadian company and the Series B financing will further advance their workforce management software analytics capabilities.”
Kapadia says Invixium has customers save up to 20 percent in inaccurate labor costs.
McRock co-founders Scott McDonald and Whitney Rockley will continue serving on Invixium’s Board of Directors.
Ashraf & Co. has signed on as Invixium’s new distribution partner for Kuwait, while ADI Global will sell the company’s biometric solutions in India. Ashraf & Co. is a diversified IT business solutions provider and ADI is a wholesale distributor of security and low voltage products.
“Invixium is an up-and-coming brand in the security industry with extensive knowledge and experience in biometrics,” comments ADI Global India Director Devinder Singh. “This partnership agreement reinforces our vision of tying up with the best in class brands in the world and making it available to our customers. We are excited to promote the full product range and are confident that our SI base will be enthusiastic about sourcing well-designed, high quality biometric solutions via ADI.”