[Funding alert] Identity and access management platform truMe raises $1,45,000 from angel investor Rajan Kaistha
Identity and access management platform truMe has raised $1,45,000 from Rajan Kaistha, an angel investor in the US.
According to a statement released by the company, with this fundraise, truMe plans to deepen its footprint in Delhi-NCR and expand operations to Mumbai and Bengaluru. Apart from the expansion plans, it will use the proceeds to invest in talent and technology.
truMe is the flagship product of Mobico Comodo Private Limited, an IT product startup in identity and access management space. The company, which owns the truMe patent, is founded by friends Babu Dayal, Pramod Uniyal, and Lalit Mehta.
Commenting on the investment, Pramod N Uniyal, Co-founder and CEO of truMe, said, "Our vision is that everyone in the world will have a digital identity, hosted on truMe. Our endeavour is to create an access management ecosystem that runs on truMe all over the world. We want to make access secure, private, and convenient for businesses and users."
Babu Dayal, Co-founder and COO of truMe, added, "We are using technology to create an ecosystem which will liberate businesses from the constraints of legacy access management systems and drastically bring down the costs for them."
According to a report by Grand View Research, the identity and access management industry is growing at a CAGR of 13.1 percent and is expected to reach $ 24 billion per annum by 2025.
truMe leverages several technologies to create a product that is extremely easy to use both for the establishments and individual users. truMe is a state-of-the-art platform, which is not dependent on hardware to create a superlative experience, both for the businesses and the users.
Rajan Kaistha, CEO of RST solutions Inc, said, "I am excited about the people and the technology behind truMe, and believe that there is a latent need for an access management ecosystem that truMe can fulfil. I have been keenly watching this space and like what truMe is doing."
(Edited by Suman Singh)