Neoteris' CEO sees growth in security software products

Thursday, 16 January 2003, 20:30 IST
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NEW YORK: Indian American Kris "Kittu" Kolluri is jubilant over the number of clients Neoteris, his IT security software products company, has bagged since it launched its premier product in November 2001. His firm Wednesday said it had closed deals with 150 customers since then. A week ago, Hyderabad-born Kolluri secured leading firm Deutsch Bank. Firms like Merrill Lynch and BEA Systems have become the latest enterprise-class customers to deploy secure access to internal and external users via the Neoteris IVE. Additionally, Neoteris released market information detailing its rapid growth over the last year, as well as information on adoption of secure sockets layer (SSL)-based technologies despite the technology industry recession. "Neoteris began with the mission of leveraging the power of the Internet to allow cost-effective, ubiquitous access to enterprise resources without compromising network security," said Kolluri, Neoteris president and CEO. "By leveraging SSL, we have turned our vision into a reality. Neoteris has developed an outstanding product to satisfy customer demand across industries, despite the economic climate. We look forward to building upon our strong foundation and continuing to bring innovative technologies to the market." Of its 150 customers, 25 percent are Fortune 1000 or Global 500 companies, Neoteris said. Cutting-edge hospitals and healthcare organisations are using Neoteris' IVE to assist with Health Insurance Portability and Accountability Act compliance, and government organisations use Neoteris solutions. The solutions help compliance with federal statutes and initiatives, as well as the shift toward e-government. Top law firms, media companies, and manufacturers round out the growing Neoteris customer list, it added. "With Neoteris, Merrill Lynch has a cost-effective, scalable partner extranet solution to give third parties secure access to important information and applications at all times from any location," said David LaBianca, vice president of Merrill Lynch Information Security & Privacy. "While our original deployment is for our partner extranet, we see value in extending the IVE deployment to internal users for numerous other applications." Kolluri grew the company from 25 employees to approximately 80 in 2002, with offices in Mountain View, California, London, and Hyderabad. The company has also won more than 10 awards for technology and business leadership. Kolluri, an Indian Institute of Technology, Chennai, graduate, founded Neoteris in 2000 and has kept it a privately held firm backed by heavyweight IT names like Jim Clark of New Enterprise Associates and individual investors. Kolluri was spent the first 17 years of his life in Hyderabad, and then went to IIT for four years prior to coming to the U.S. Because of their dependence on a large mobile workforce, financial institutions have adopted Neoteris IVE products, which give authorised employees access to private information from customer sites, at home, or on the road. Authenticated users need only a Web browser and an Internet connection to access network resources through the IVE. There is no software for users to configure and no changes are required to network resources. The Neoteris IVE can also be used to grant access to business partners who need to share sensitive information resources. Neoteris' IVE enables financial institutions to grant controlled access down to the file, application, or URL level to unaffiliated banks and clients, which is a significant benefit for the transfer of confidential information and documents associated with financial underwritings and securities transactions. Additionally, the IVE makes it easier for financial institutions to comply with stringent data protection/privacy security regulations. "As a result of Neoteris' unique value proposition, we are seeing significant demand and revenue in the financial services sector," Kolluri asserted.
Source: IANS