VTB Capital leads USD 7.5 million investment round in cloud computing firm Eccentex

California-based cloud computing firm Eccentex has secured USD 7.5 million in Series-A funding from a group of investors led by Russian investment company VTB Capital. Eccentex will use the money to expand the company’s operations in new geographies and continue developing case management capabilities for a broad set of industries. The investment was made by VTB Venture Fund, the venture investment arm of VTB Capital.

Eccentex (www.eccentex.com)
Founded in 2005, Eccentex enables organizations to leverage the power of cloud-based delivery models to rapidly automate their business processes in order to reduce risk, increase efficiency and improve customer experience in a cost-efficient manner.The US firm has built the first true enterprise Platform-as-a-Service (PaaS) called AppBase to meet the growing demand for SaaS (software as a service) delivery models. The firm is developing an accessible and cost efficient technology-platform for organizations challenged by processing service requests, incidents and investigations. Clients can either develop on-demand software applications using pre-built templates or develop completely new applications from scratch without writing codes. The case management market is currently estimated at about USD 12 billion.