Ilantus gets Intel Capital funding

BANGALORE: Identity and access management (IAM) solutions provider Ilantus Technologies today announced that it has received funding from Intel Capital.

While the value of the investment was not disclosed, Binod Singh, president, CEO and co-founder of Ilantus Technologies, said the investment would go into scaling the company’s operations, enhancing product development and building a global proof of concept center.

“We plan to provide high value consulting and IP development services in the IAM space to global clients. According to analysts, IAM counts among the top three high growth IT segments,” he added.

The market size of the IAM segment is expected to grow from $4.8 billion in 2005 to $10.7 billion in 2007. Singh said that the IAM segment is beginning to mature now.

For Intel Capital, Ilantus is the eight investment in India since January this year. The company has a total venture corpus of $250 million to fund Indian companies. Some of the recent investments include Microland, Insilica, Mobiapps and People Infocomm.

Kumar Shiralagi, director, Intel Capital India, said that the company would continue to support companies that work on computing and communication technologies.

Ilantus is confident that it could cater to both large as well as small and medium business with its products and solutions. With data security and identity theft on the increase, the demand for IAM in enterprises is on the rise.

The company plans to increase its headcount from 100 to 200 by November-end.