LoginRadius, a Canadian firm that provides customer identity and access management (cIAM) solutions, is planning to double its workforce to 400 by the end of next year.
The Vancouver-based firm runs two centres in India at Jaipur with 80 employees, and a newly-opened facility in Hyderabad with 10.
“Half of the 200 positions that we are going fill up in the next one year will be in India. The Hyderabad facility will have 40 more,” Deepak Gupta, Chief Technology Officer and Co-Founder of LoginRadius, has said.
The Hyderabad office will focus on data analytics to crunch huge volumes of data generated everyday.
Rakesh Soni,Chief Executive Officer of the firm said, “Our cloud-hosted service provides the platform to securely manage and transact with billions of customer identities while factoring in privacy and compliance regulations in different geographies.”
Quoting research reports, he pegged the global cIAM market opportunity at $32 billion.
“We see a great opportunity in India as well. A lot of companies don’t understand privacy and security concerns and regulatory compliances associated with managing customer identities,” he said.
“We are in talks with at least five of the Fortune-100 companies for providing our solutions in India,” Soni said.
LoginRadius raised $17 million in Series-A last year. The funding was led by led by ForgePoint Capital and Microsoft’s venture fund M12. All existing investors, including Real Ventures and BDC Capital also took part.
“We might go for the Series-B by the end of 2020 or early 2021. It will be a bigger round where we week to raise $50-70 million,” he said.
Source: The Hindu