FixNix

FixNix operates as an enterprise Software-as-a-Service (SaaS) company specializing in Governance, Risk, and Compliance (GRC) solutions. Founded in 2012 by Shanmugavel Sankaran and Kayalvizhi Shanmugavel, the company was established to address the complexities of risk management and compliance for businesses of all sizes, from SMBs to large enterprises. Shanmugavel Sankaran, who serves as CEO, has a technical background with over a decade of experience in management and security architecture at companies like Microsoft and IBM. His co-founder, Kayalvizhi Shanmugavel, previously worked as a Performance Engineer at Microsoft and holds a Bachelor of Engineering in Computer Science. Their combined experience in the technology sector underpins the company's focus on creating user-friendly and scalable GRC tools.

The company's core offering is a cloud-based GRC suite, FreshGRC, designed to automate and streamline security workflows. This platform provides modules for managing internal audits, risk assessments, compliance processes, policy management, and security incidents. Key features include a centralized platform for compliance tasks, real-time monitoring to proactively manage issues, and tools to identify and mitigate risks. By providing a SaaS model, FixNix offers a more accessible and scalable alternative to traditional, often expensive, on-premise GRC software. The business generates revenue through tiered monthly subscriptions, with pricing plans aimed at different user capacities, including small businesses and large enterprises.

Headquartered in the US with significant operations in Chennai, India, FixNix has followed a path of bootstrapping combined with strategic fundraising. After bootstrapping for its initial years, the company secured a pre-Series A funding round of $500,000 in March 2016, led by Jay Vijayan, then CIO of Tesla Motors. This capital was aimed at team expansion and product development. Over its history, the company has raised approximately $600K across several seed and angel rounds, attracting investors such as Rise accelerator and Zone Startups India. FixNix has gained recognition through various programs, including being a regional winner of the Microsoft BizSparks challenge and participating in Barclays and SocGen accelerator programs.

Keywords: Governance Risk Compliance, GRC, SaaS, risk management, compliance automation, enterprise software, audit management, information security, regtech, fintech