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[June 22, 2014]
Security Services Firm Paladion Secures Funding From Nadathur Holdings [DealCurry (India)]
(DealCurry (India) Via Acquire Media NewsEdge) Nadathur Holdings, the $1 Bn family office of one of @Infosys_Limited Limited's co-founder Nadathur Sarangapani Raghavan has made a fresh investment of $10 Mn (c.INR 600 Mn) in Bangalore based @Paladion Private Limited, an information security services provider.
Nadathur had seeded the company in 2001 and held 24.7% stake in the company. The decision to hike the stake came when Paladion required fresh funds to bolster international business and develop 'the futuristic security intelligence platform' in the emerging market and with the current infusion the company would chalk out its international expansion plans and enhance its technology to build a focused IT security company.
Investment bank o3 Capital was the advisor to the deal which was, mostly a primary purchase.
The 13 year old provides information risk management services comprising of security assurance, compliance, governance, monitoring, security analytics and security management services to large and medium sized organizations across industries in Asia, US and EMEA.
The firm founded by IITian Rajat Mohanty and seven others has been profitable all along with an annual revenue run rate of $35 Mn (c.INR 2,100 Mn ) and hopes to touch $200 Mn (c.INR 12 Bn) in the next five years.
@Nadathur_Holdings Private Limited investment portfolio spreads across multiple asset classes and investment life cycles - from angel and venture funds to private equity, public equity and debt.
The group which is led by Anand and Srirram Nadathur, has also seeded a venture fund, a domain-specific investment platform, and a family office for wealth management.
As per the group's website, it has invested in over 25 venture and private equity opportunities, have funded an investment bank, and have made long-term investments in philanthropic and social ventures spanning diverse sectors, including information technology, hospitality, aerospace, biotechnology, health care, education, real estate, arts, and conservation.
Some the ventures backed by the investment arm include Impulsesoft, Metahelix, Connexios and Medi Assist.
The worldwide software security market is estimated at $20 Bn with North America, Western Europe and Asia Pacific having 83% share.
Recent deals in this space: Uniken had raised R30 Cr from Nexus Venture Partners.
IDG Ventures, Rajasthan Venture Capital Fund and IvyCap Ventures had invested an undisclosed amount in information risk management services company, Aujas Networks.
Druva had secured series C funding from Tenaya Capital and its existing investors Sequoia capital and Nexus Venture Partners (c) 2014 EagleEye Research & Media Pvt. Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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