truMe, an IoT start-up, which recently raised $ 1,45,000 an angel investor in US, has crossed 2 million access transactions on its platform. The Identity & Access Management platform, with existing 2.2 lacs users, is growing at 11,000 users per month. Total number of is expected to reach 3 lacs by end of FY 2020. More than 6000 users access various buildings on truMe every day.
Identity & Access Management is a fragmented industry, dominated by legacy systems and marked by queues, friction and paperwork. There are different protocols for different buildings, even those belonging to the same organisation. Opacity, loss of productivity and friction are the norm. Overdependence on manpower and legacy technologies makes Identity & Access Management inadequate, inefficient and costly for establishments at present. User Experience is also sub-optimal – obtrusive, inconvenient and compromising privacy.
truMe endeavours to change that. truMe is a B2B SaaS play, with a vision to leverage a ‘truMe Identity’ and Network Effect to meet the market need for a number of products in the identity space. truMe has started by marrying the identity piece with IoT to create an Identity & Access
Management solution, which delights the users and addresses the key pain-points of the businesses – High Cost, Capacity Constraints, Lack of Flexibility to Write/ Modify Access Rules, Lack of Visibility Across Buildings/ Geographies, Limited Differential Access, Limited Multi-factor Authentication and Lack of Data analytics.