Paladion raises US$10M fund from Infosys Co-founder NS Raghavan
The capital will primarily be used for enhancing Paladion’s cyber security intelligence and cloud security services platform and global expansion of multiple security operation centresBy Twishy Shahi 19 Jun, 2014
Paladion, the provider of information risk management solutions and services in Asia, has closed a growth capital funding of US$10 million from Nadathur Holdings, an investment firm of Infosys Co-founder NS Raghavan. This capital will primarily be used for enhancing Paladion’s cyber security intelligence platform, building a comprehensive cloud security services platform and global expansion of multiple security operation centres (SOC).
In 2001, Paladion raised a seed capital of US$0.5 million from Nadathur Holdings. Leveraging that early investment, Paladion has grown from a startup to a company with an annual revenue run rate of US$35 million. O3 Capital, the cross-border investment firm was the advisor to the deal. With this capital infusion, Paladion plans to consolidate its position in Asian markets and pivot to a global canvas with leading security intelligence technology and cloud security services for the multi-billion dollar cyber security and information risk management market.
On the deal Raghavan said, “Nadathur invested in Paladion at the very beginning, when it was just a startup 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, recognised 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.”
With cyber security and information risk management becoming a key agenda, the global market is tipped to grow multi-fold over the next 10 years. The growth capital will give Paladion management the much-needed boost to execute on their aggressive market expansion plans.
Rajat Mohanty, CEO, Paladion, 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”.
“The confidence showed by NS 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 added.