Nadathur Holdings, promoted by Infosys co-founder N S Raghavan, has invested USD 10 Mn (Rs 60 Cr) in IT security solutions provider Paladion. With new capital infusion, the firm plans Global expansion of its Security Operation Centres. Further, it will be investing in enhancing its cyber security intelligence platform and building cloud security services platform.
In 2001, Paladion had raised a seed capital of USD 500,000 from Nadathur Holdings, with Nadathur having 24.7% stake in the company. The company claims to have revenue of $35Mn.
“We intend to bring a ‘futuristic security intelligence platform’ to the market around internet of things,” Rajat Mohanty, CEO, Paladion said.
The company now manages information risks for over 700 customers. It is one of the leading IT security solution company in Asia and Raghavan sees tremendous potential in the company and wants to see it as a global company. “This is Nadathur’s third major investment in line with our vision of backing scalable entrepreneurs who could build global enterprises,” NS Raghavan said
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 worldwide market for security software is estimated at $20 Bn currently.