Infosys Co-Founder Invests $10 Mn In Paladion

NEW DELHI: Nadathur Holdings, promoted by Infosys co-founder N S Raghavan, has invested an additional $10 million (Rs 6 crore) in IT security solutions provider Paladion.

In 2001, Paladion had raised a seed capital of $500,000 from Nadathur Holdings.

The new funding will be utilised for enhancing Paladion's cyber security intelligence platform, building a comprehensive cloud security services platform and expansion of multiple Security Operation Centres globally, a statement said today.

Paladion has grown from a start-up to one of the largest information risk management providers in Asia with an annual revenue run rate of $35 million, it said.

With new capital infusion, the firm plans to consolidate on its position with security intelligence technology and cloud security services for the multi-billion dollar cyber security and information risk management market.

O3 capital, a cross-border investment firm advised on the deal.

With cyber security and information risk management becoming a key board agenda item, the global market is tipped to grow multi-fold over the next 10 years.

The fresh infusion of funds will give Paladion the needed boost to execute their market expansion plans, develop cutting edge security intelligence technologies and building a comprehensive cloud security services platform, it said.

"We intend to bring a futuristic security intelligence platform to the market around Internet of things. Information security market is entering an exciting phase and we aim to bring a host of new offerings and value to the market," Paladion CEO Rajat Mohanty said.

Raghavan said: "We like the area of information security, which is engaging the attention of the boards of several global corporations. More importantly, we liked the Paladion's value systems, technology expertise and conservative approach to capital."

This is Nadathur's third major investment in line with the vision of backing scalable entrepreneurs who could build global enterprises, he added.

Paladion, which offers services across industries in Asia, US and Middle East, has over 700 customers. It provides security assurance, compliance, governance, monitoring, analytics and management services.