Bangalore based Avekshaa Technologies, a provider of IT predictability and assurance solutions today said that it will target the globally growing digital commerce market. Company launched ‘DigComP-A-S-S ‘-– a performance, assurance, scalability & security (P-A-S-S) solution designed for e-commerce, retail and other enterprises with high volume of digital commerce transactions. The solution tries to address one of biggest challenges of businesses and issues like IT performance and scalability.
Avekshaa also announced that it has received venture capital funding from KITVEN (Karnataka IT Venture Capital Fund) at an $8 million (Rs2.4 crore) enterprise valuation, which will be utilised for expansion in the US and Australian markets along with India operations.
Rajinder Gandotra, Founder & CEO – Avekshaa Technologies said, “The investment from KITVEN is a testament to our leadership position in the IT predictability and assurance space. The current funding will help us to expand globally while retaining our leadership position in the Indian market.”
Infosys ex-CFO V.Balakrishnan, Professor S. Sadagopan and Symantec’s former India head Ajay Goel has also joined the board of Avekshaa Technologies.
Arun Ramu, Co-founder & Director – Avekshaa Technologies added, “Global IP traffic has increased five-fold in the past five years and will increase further. 50% of most businesses’ core processes will shift online/web based by 2020 and CIOs and enterprises world over are grappling with IT performance and scalability issues resulting in significant losses in revenues, customers, reputation and time-to-market.”
Company aims to earn $100 million revenue by 2020 and plans to generate direct employment of around 1500 people as well. Currently, it has 18 enterprise customers most of them are Indian companies.