Paladion raises $10m in fresh funding to enhance their security intelligence & cloud security platforms
Paladion, Asia’s leading information risk management provider and Middle East’s only Gartner rated Managed Security Services player, has closed a growth capital funding of $10 million from Nadathur Holdings, a venture capital and private equity firm with offices in India and Singapore. This capital will primarily be used for three purposes- for enhancing Paladion’s cyber security intelligence platform and for building a comprehensive cloud security services platform and expansion of multiple Security Operation Centres (SOC) across Middle East and USA.
Nadathur is founded by N.S. Raghavan, Co-Founder of Infosys Technologies (Nasdaq-Infy). In 2001 Paladion, raised seed capital of 0.5 million USD from Nadathur Holdings. Leveraging that early investment, 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. O3 capital, a leading cross-border investment firm advised on the deal. With this capital infusion Paladion plans to consolidate on its leadership position in Asian markets and pivot to a global canvas with cutting edge security intelligence technology and cloud security services for the multi-billion dollar cyber security and information risk management market.
Paladion has introduced several innovative cyber security & information risk management initiatives over the last decade. Recent successes include a big data solution for enterprise security intelligence and advanced cyber threat protection managed service driven by security analytics. 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 growth capital will give Paladion management the needed boost to execute on their aggressive market expansion plans, develop cutting edge security intelligence technologies and building a comprehensive cloud security services platform.
According to Rajat Mohanty, CEO, Paladion, “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.”
“The confidence showed by Mr. N.S. Raghavan is a big morale booster. It is a great opportunity for us to fully leverage the collective business acumen of the Nadathur Group and become a global technology player in security intelligence and cloud platforms,” he went on to add.
According to Mr. N.S. Raghavan, Nadathur Holding, “Nadathur invested in Paladion at the very beginning, when it was just a start-up operating in India. Over the years, it has expanded its offices to 12 countries world-wide and has become a leading player in its field, recognized and appreciated by industry stakeholders. 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 our vision of backing scalable entrepreneurs who could build global enterprises. It is an association we are proud of and will lead to great things.”
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