(1888PressRelease)
July 31, 2008 - Idenizen Smartware Pvt ltd, established technology solutions provider for the education vertical with its flagship product suite SmartCampus™, has received venture capital funding to the tune of US$ 2.25 million (Rs 9.0 Crore) from NEA-IndoUS Ventures, towards fuelling its pan India growth plans.
Announcing the closure of venture funding, Founder and CEO, Girish Baliga, said the funds would enable SmartCampus™, the comprehensive smart card-enabled software solution, to reach and service educational campuses and institutions nationwide. It would boost Idenizen’s countrywide expansion plans for setting up new branch offices and servicing centers as well as strengthen their market-leading product offerings.
SmartCampus™ integrates all key activities of an institute on to a single, integrated software-enabled platform - from administration to student and faculty activities inclusive of registration, course administration, attendance, library automation, examinations etc. The solution addresses all major stakeholder needs including those of Students, Staff, Parents, Institution and the Management. “This investment would help Idenizen, in its own small way, to play a critical role in taking India’s educational standards to international levels,” Baliga added.
Dr Kumar Shiralagi, Managing Director, NEA-IndoUS Ventures, highlighted Idenizen’s fast track growth and the rich depth and breadth of its product suite and said, “SmartCampus™ is an innovative product tailor-made for efficient campus management. It has enhanced the capabilities and productivity of many colleges and helped them move to an advanced stage of automation. It needs to be taken across the country to each and every campus so that all students and faculty alike can benefit immensely from the convenience and control of activities this solution offers.
“Today all the forward thinking education institutions are willing to invest in technology to deliver to their end-customers: the students, faculty and the administration. Idenizen is building on this momentum and is easily set to achieve its goals for the future,” Baliga added whiling pointing out that the venture funding comes at a time when Idenizen has already made its mark across numerous institutions (“SmartCampuses”) by offering a wide range of solutions through SmartCampus™, that has rich product development experience behind the solution.
The company has charted plans to expand aggressively across the country, by setting up new offices, increasing sales and operations depth and forging strategic partnerships to successfully cater to the large market opportunity. The company also plans to improve upon their current product offerings and is designing the next-generation SmartCampus™ experience.
About IDenizen and SmartCampus™
Idenizen Smartware Pvt ltd is a four-year technology solutions provider for the education vertical that has specialized in creating and marketing a smart card-enabled software package for the education vertical. The SmartCampus™ product is ideally suited for educational institution and campus management. The product offers an increasingly relevant value proposition to all key stakeholders in the educational institutions and has a seamless, attractive, integrated business model that makes for ease of adoption. Today it is a leader in the sector with nearly 100 installations that directly benefits tens of thousands of students, teaching and non-teaching staff, the management of the institutes and the students’ parents.
SmartCampus™ has been introduced in a number of colleges with visible improvements in productivity and efficiency of operations. Rich domain understanding and working closely with customers over the years has resulted in the product addressing tedious, error-prone academic activities through seamless automation. The functional areas automated by SmartCampus™ include department administration, staff profile, staff and student attendance, staff payroll, examinations, library management, accounting, student information systems, hostel management etc.
About NEA-IndoUS Ventures
NEA-IndoUS Ventures is a venture capital firm based out of Bangalore, India and Silicon Valley US. The firm is dedicated to creating technology and technology enabled innovative companies out of India that serve both the Indian and the global markets. The firm invests in early and mid-stage companies. The firm’s partners have the unique experience and expertise to nurture entrepreneurs and actively help the development and scaling of promising companies. In addition, a significant partner in this fund is New Enterprise Associates (NEA) who is a sponsor and active advisor. This network of collective relationships and experience is an invaluable asset to entrepreneurs and portfolio companies. For additional information, visit www.neaiuv.com
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